Guaranteed Issue Medicare Rights

KNOW YOUR MEDICARE RIGHTS WHEN COMING OFF A GROUP PLAN

Did you know you may qualify for a Guaranteed Issue Medicare Right if your employer coverage is considered creditable? Each year there is a greater percentage of employed seniors that are eligible for Medicare and according to the Bureau of Labor Statistics it grows each year. Though we don’t know what the future holds… from past experiences things are only getting more expensive so seniors are compensating and working longer and are on group coverage longer.

When retirement is right around the corner where do you go for answers? What are your options? Will you be able to obtain coverage if you have pre-existing health conditions? These are all some questions that you might be asking yourself.

When the Affordable Care Act (Obamacare) went into effect in January 1, 2014 we learned it requires primary insurance to not ask health questions. In the past, we have learned that a lot of people think that Obamacare and Medicare Supplements work the same way. But they don’t… no worries because we are here to walk hand in hand with you through the Medicare maze. The good news is when you are coming off a creditable group plan on to Medicare, you qualify for a Guaranteed Issue Period as part of your Medigap protections.

THINGS TO CONSIDER WHEN YOU QUALIFY FOR A GUARANTEED ISSUE MEDICARE SUPPLEMENT

There are many ways you could qualify for your Guaranteed Issue Medicare rights. Today, we are going to talk about how you can qualify after losing group coverage and when, where, and how to get adequate coverage by choosing a Medigap policy. If you currently have original Medicare and you are coming off a group plan that has creditable coverage, you may have the right to buy Medigap Plan A, B, C, F, K, or L that are available in your state (to view rates in your area please click HERE). You will need to apply for a Medigap/Medicare Supplement policy no later than 63 calendar days after the latest of the following three dates:

1. Date the coverage ends
2. Date on the notice you get telling you that coverage is ending (if you get one)
3. Date on a claim denial, if this is the only way you know that your coverage ended

Also, make sure to keep these items handy:

• A copy of any letters, notices, emails, and/or claim denials that have your name on them as proof of your coverage being terminated
• The postmarked envelope these papers come in as proof of when it was mailed.

We ask that you save these documents because you might need to send a copy of some of these papers with your Medicare application to prove you have a Guaranteed Issue Medicare right. Figuring out what the best step to take when coming off group cover is tricky. Let us help you find the right plan for you. Give us a call today and we can help you sort through your options! Our number is (877) 759-5760.

Source: Medicare.gov