Avoiding Medicare Supplement Underwriting

When many seniors enroll in Medicare , they find that the cost of Part B bills are more than they expected them to be. Luckily, there are a lot of options for Medicare Supplement Plans to help with the out-of-pocket costs of Original Medicare. Medicare Supplement Plans are offered by private insurance companies, and not only help pay for Part B costs like deductibles, copays, and coinsurance, they also offer  extra coverage. However, in order to get a Medicare Supplement plan or to switch the plan you are currently on, you might be required to undergo an underwriting process to get approved for coverage. The thought of answering questions about your health may be stressful, but don’t worry! There are ways you can avoid the underwriting process.

scrabble blocks that spell out the word "assess"
Medicare underwriting is a process by which a private insurance company reviews your medical history to determine whether they will provide you with coverage.

What Is Medicare Underwriting?

Medicare underwriting is a process by which a private insurance company reviews your medical history to determine whether they will provide you with coverage, how much your coverage will cost, and whether or not to set a waiting period before your coverage begins. If you have a lot of medical issues, you may have to pay more for coverage or you may even be denied coverage. Insurance companies will also look into any pre-existing conditions that you have been treated for, and could charge you even more based on their findings. 

When You Can Avoid The Underwriting Process

The best time to enroll in a Medicare Supplement plan is during your Medicare Supplement Open Enrollment period. This six-month period starts on the first day of the month that you are both 65, and enrolled in Medicare Part B. During this period, you can enroll in any Medicare Supplement plan offered in your service area with guaranteed issue. This means that insurance companies will not be allowed to deny you coverage or charge you more because of  pre-existing conditions. If you have medical issues or disabilities, it’s especially important to take advantage of this period.

The other time you can avoid the underwriting process is during a Medicare Supplement Special Enrollment Period. This special enrollment period begins if:

  • Your Medicare Supplement insurance company goes bankrupt and you lose your coverage, or your Medicare Supplement policy coverage ends through no fault of your own.
  • You’re enrolled in Original Medicare and your employer coverage is ending.
  • You drop a Medicare Supplement policy or leave a Medicare Advantage Plan because the company did not follow the contractual obligations, committed fraud, or misled you.
  • You have Original Medicare and a Medicare SELECT plan and you move out of your plan’s service area.
  • You’re enrolled in a Medicare Advantage plan or PACE organization and move out of the plan’s service area, or your Medicare Advantage plan leaves the Medicare program.
  • You joined a Medicare Advantage plan, and within the first year of joining you want to switch to Original Medicare and Medicare Supplement.cake with candles on it that spell out "happy birthday" on it.

If you are still within your Medicare Supplement Plan Open Enrollment Period, then great, no better time to get started and sign up for a plan. If you have passed this guaranteed issue window, you can still apply, but you will have to undergo the underwriting process. And if you get denied, then it is not the end of the world, our agents will search through all available Medicare Supplement plans and help you to find one that works for you.

If you would like more information on Medicare and Medicare Supplement plans, one of our highly trained agents is ready to help. You can start by simply entering your zip code in the bar above to get a quote, or you can speak to an agent by calling 888-753-7207. We will help you answer any questions, go over all of your plan options, and find the Medicare Supplement plan most suited for your needs and budget. We’ll even help you sign up if you’re ready. No hassle and no obligation!

About The Author: Cassandra Love

With over a decade of helpful content experience Cassandra has dedicated her career to making sure people have access to relevant, easy to understand, and valuable information. After realizing a huge knowledge gap Cassandra spent years researching and working with health insurance companies to create accessible guides and articles to walk anyone through every aspect of the insurance process.
Follow us for more:

Leave a Reply

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