Personal Finance


Basically, a Medigap policy covers some of the costs that original Medicare does not cover — such as copayments, coinsurance and deductibles — or uncovered services, such as medical care when you’re traveling abroad.

When you first qualify for Medicare, you get a six-month window to purchase a Medigap policy without undergoing medical underwriting. This means the insurer cannot deny coverage based on existing conditions or charge you a higher premium.

After that initial window, however, Medigap insurers typically will evaluate your medical history and can charge you more or decline coverage altogether.

Even if you know you’ll breeze through the evaluation, it still can take time for all your records to reach the insurer.

“Underwriting can take a couple months,” Gavino said. “The worst-case scenario is that you have Parts A and B until you get the supplemental policy.”



Source link

Products You May Like

Articles You May Like

Amazon and Netflix just hit all-time highs. Here’s which one is a better buy
Five ways people try to cheat on their taxes
Steve Jobs’ pre-Apply job application to raise $50,000 at auction
Elon Musk takes swipe at Uber flying cars, Dara Khosrowshahi responds
California agriculture sees wave of immigration audits

Leave a Reply

Your email address will not be published. Required fields are marked *