If you have health conditions that are sometimes called pre-existing conditions, can you help buy a Medicare advantage policy? Could you even purchase a Medicare advantageal policy if you already have a previous illness?
As a beneficiary of Medicare, you may be able to get additional Medicare insurance, even if you already have a medical condition. However, in most cases, you can only purchase a Medicare advantage plan with full federal guarantees and intellectual property rights known as “guaranteed-issue rights” at a specific time, as described below.
If you already have a condition, what is the best time to purchase a Medicare advantage policy?
You may also have the option to receive a Medicare advantage policy, even if you already have a medical condition, without worrying about paying more or rejecting your application because of your health status. You are guaranteed the exhibition rights to receive a Medigap policy during your Insured Medicare Open Enrollment Period that begins on the 1st day in the month in which you are a minimum of 65 years of age and registered in Part B of Medicare, and lasts for 6 months. Generally, this is the best time to request a Medicare advantage plan if you are already in good health. During your open enrollment period for the Medicare advantage, an insurer cannot do the following:
- Reject registration for a Medicare advantageal plan
- Establish a period of waiting before offering coverage, with the exception of some cases to cover pre-existing situations. In some cases, there may be a waiting period of 6 months before a Medicare advantageal policy covers the conditions related to your current condition.
- Calculate a higher premium depending on health, age, or pre-existing health conditions.
- Existing terms and Medicare advantageal insurance after the open enrollment period
Should you request a Medicare advantage policy outside of a situation for guaranteed-issue, the plan may make use of medical underwriting to help you decide whether or not to accept your claim. The medical underwriting can dictate how much premium you will be charged monthly for the Medicare Advantage plan and if your plan has coverage restrictions. While conducting medical underwriting, your insurance company can consider your age, sex and / or pre-existing conditions for which you were diagnosed or treated in the 6 months prior to the proposed start of your insurance. The company can reject your application if the guaranteed rights do not apply.
Can you avoid or reduce the early waiting time for a plan?
Medicare advantageal insurers may refuse to cover their existing medical conditions for up to 6 months. This is the Medicare Advantage Waiting Period for pre-existing conditions. This applies to all health conditions that have been diagnosed or treated within 6 months after the start of the Medicare Advantage Plan. You may be able to avoid or reduce the waiting time of your current condition if you have a health insurance policy. Many forms of health insurance coverage are considered eligible, as long as there is no insurance coverage for more than 63 days.