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Normally when you purchase health insurance, there is usually a waiting period before coverage begins because of pre-existing conditions. Under Medigap, there is no waiting period for pre-existing conditions. The only qualification is you must be at least 65 years of age and apply during the Open Enrollment period. Open enrollment is the period during the six months after enrolling in Medicare Part B. During the open enrollment period, you can change your mind about a Medigap company and cancel it and enroll with another. It just has to occur during the open enrollment. Pre-existing conditions are covered under Medigap policies. It is the law!

Does a Medicare Supplement plan replace Original Medicare?

Medigap plans do not replace the original Medicare insurance. Medigap fills the gap between what you have to pay for covered Medicare benefits. The Medicare Supplement plans are purchased in addition to Medicare. Your preexisting conditions are covered and there is no waiting periods if you enroll during the open season. The cost of Medigap plans is based upon the age of the person on the first premium due date. This translates into a lower cost if you are 65 and are purchasing a Medigap policy instead of waiting until you purchase one at age 75. The old saying "time is money" certainly applies to Medigap coverage. Medigap plans offer a slew of benefits and you should choose one based upon your requirements and needs. Look into the benefits, cost, your economic situation and your current state of health before purchase a Medigap policy.

If I Change My Medigap Coverage will I Have a Waiting Period for Pre-Existing Conditions?

If for some reason your Medigap provide is allow the option of having a 6 month waiting period on pre-existing conditions (most companies do not exercise this option), you may be subject to the waiting period for these previous medical conditions. However, the good news is any new conditions that arise after you have been approved for coverage are covered immediately. Check with your state insurance commission to find the Medigap plans licensed to be sold in your state. You can also find if there are waiting periods for pre-existing conditions for Medigap coverage by discussing this upfront with a Medical Supplement insurance company you are interest in purchasing Medigap coverage from.