Best Life, Medical & Health Insurance Company in Dallas, Texas Looking at Medicare Supplement Plans | Page 2

gaps. A private insurance company in Texas will help you to select the right Medicare supplement insurance policy that will meet your specific needs and budget. One of the common questions that most people have on their mind is when they should buy a Medigap policy. Read on to get a clear idea about when you should buy a Medigap policy. When you are First Eligible - The best time to buy a Medigap insurance policy is during the six-month Medigap open enrollment period. This is because during this time, your parents can get a Medigap insurance policy that is sold in your state, even if they are not in perfect health. The period automatically starts the month that they turn 65 and are enrolled in Medicare Part B. An important factor that you need to consider is that once this period is over, you may not be able to enroll in the policy until the next open enrollment period. During Open Enrollment - Insurance companies generally use medical underwriting when they decide whether to accept the application and the amount that they will be charging for the policy. The open enrollment makes your parents eligible to buy the policy that the company sells, even if they may have health problems. The policy will be available for the same price as it is for those who don’t have any health problems. Outside Open Enrollment- In case you apply for a Medigap insurance policy after the open enrollment period, there may not be any guarantee that the insurance company will sell you a policy. This is more so when you don’t meet the underwriting requirements. However, if you have a pre-existing condition, if you have some other insurance, or you are under 65 and become eligible for Medicare because of disability or ESRD, then you can get a Medigap policy. So, the next time you plan to get a Medicare Insurance policy for your parents, consider the points that have been listed above. It will help you to choose the right Medigap insurance policy during the right time period.