Medicare AEPMedicare’s Annual Enrollment begins October 15, so I expect the next two months to be busy here at MediGap Advisors. This is the only time of the year you can sign up for or switch Part D prescription plans or Medicare Advantage plans, and did I mention Medicare Advantage plans are guaranteed-issue?
What is a Guaranteed-Issue Medicare Advantage Plan?
Sometimes when you apply for insurance coverage, you’re required to go through what’s called “underwriting.” This means you must disclose your medical history and could be denied coverage if you have any serious health conditions. Typically you’ll go through underwriting if you’re looking for a Medicare supplement plan outside your initial Medicare enrollment period.
If you have a serious health condition and can’t get coverage with a Medicare supplement plan or find that you simply can’t afford the premiums of a Medicare supplement plan, a Medicare Advantage plan may be a good option for you. Plans are guaranteed-issue, so you can’t be denied!
Unlike Medicare supplement plans, which pick up most or all of the costs left behind from Medicare, you’ll still have to pay some deductibles, copays, and coinsurance, but your annual out-of-pocket expenses are capped, unlike Medicare alone.
Schedule a Time to Speak with Your Advisor
This is our busiest time of the year, so if you’ve been thinking about making changes to your Medicare coverage, it’s important that you schedule a time to speak with an Advisor now before schedules become completely full to see how you can save the most money. Call us at 866-323-1441 to reserve an appointment time.
Learn more about Medicare’s Annual Enrollment Period by reading my previous blog, Understanding Your Options During Medicare’s 2014 Annual Enrollment Period.
Do you have any questions about guaranteed-issue Medicare Advantage plans? How about Part-D prescription plans?

Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage.