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The Big Mistake Could Cost 10,000 Baby-Boomers a Day Millions in Out of Pocket Expenses, if They are Not Well Informed on Medigap Plans
Date:8/31/2013

(PRWEB) August 31, 2013

Millions of individuals will turn 65 this year, and many of them will start their Medicare Part B. It is very important for those individuals to understand that turning 65 triggers the clock on the time they have to get their medicare supplement insurance plan without having to go through underwriting.

It is best for customers to buy a medicare supplement policy when they are first eligible. This "open enrollment" period allows the consumer to secure a plan without medical underwriting. Medical underwriting is when an insurance company reviews an applicant to make sure they are a "good risk" under the company's acceptance protocol. This process includes thorough physicals,interviews and other tests that often eliminates people with even the most minor medical conditions making it difficult to acquire a plan.

Many people don't realize they have limited time to get this coverage, without underwriting. They often find themselves in a situation where they have missed their window and can only apply for medicare supplemental insurance with a company that will make them go through the full underwriting process.

If a person is sick and has conditions that would keep an insurance company from insuring them under their insurance policy, they surely don't want to miss an opportunity to get coverage without underwriting.

There are various incidents each day where seniors receive medical bills in excess of $4,000 with no way to pay for them. These people are now being denied supplemental plan coverage for current health issues in addition to already owing large amount for past medical expenses.

The insurance companies want save themselves money by insuring those low-risk healthy individuals who likely will not need medical help. Being in this con
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