When Should I Buy a MediGap Supplemental Insurance Policy?

The best time to buy a Medigap policy is during your Medigap open enrollment period. This period lasts for 6 months and begins on the first day of the month in which you’re both 65 or older and enrolled in Medicare Part B. Some states have additional open enrollment periods including those for people under 65. During this period, a medicare supplemental insurance company can’t use medical underwriting. This means the insurance company can’t do any of the following because of your health problems:

• Refuse to sell you any Medigap policy it sells
• Make you wait for coverage to start (unless pre-existing conditions exist)
• Charge you more for a Medigap insurance policy