Medigap Open Enrollment FAQ
Medigap open enrollment is an opportunity for people who are on Medicare to make changes to their health care plan. This can be done by either adding or changing your Medigap coverage, or by making other changes like adding prescription drug coverage. It’s important that you know when this time period starts and ends so you don’t miss out! So when is Medigap open enrollment the best for you?
Medigap plans are usually only available during an annual window in the fall of each year. The upcoming dates for this time period have not yet been announced, but you can find out by checking with your local insurance agent or company to see when they will be accepting enrollments. If you don’t sign up at that time then there may be a gap in coverage which could lead to expensive premiums if it’s several months into the next year before you get back on a plan and start making payments again. It is important to stay informed about these things so as not to miss any deadlines that might come around later.
You should also know which types of plans are available in your area by looking through Medicare’s website (you would find their information under “Find a Plan). In some cases, people may qualify for low-cost prescription drug insurance as part of a 2021 Marketplace plan that they were previously signed up for.
People can now sign up for Medicare Part B without being enrolled in a Medigap plan, but you may need to be on one type of coverage before switching to another one if your income level changes. If you are not eligible for Medicaid and have little or no resources then you will most likely qualify as having limited financial means under traditional eligibility standards with all other factors considered. Those who have low incomes would also qualify as long as their assets do not exceed $12,160 ($13,440 per married couple) . You must apply during this time period even though it is expensive because once enrollment closes people cannot enroll again.…