Applying for Medigap / Medicare Supplement insurance is relatively easy. Some companies offer online applications or allow you to fax them in. All take applications through the mail. Your insurance agent will help you with the application. Here is what you should know about selecting and applying for a Medicare Supplement plan:
- Apply early. It generally takes at least two weeks for a supplement application to be processed.
- Answer the questions truthfully. If you have to answer health questions on the Medicare supplement application, answer them truthfully. The company checks your medical records, anyway.
- Keep a copy for yourself. Whenever possible, keep a copy of your application for yourself. This always helps if there is a problem or question about something on the application.
- Ask questions upfront. It is always best to get all of your questions answered prior to applying for the policy.
- Remember to cancel your old policy. If you are replacing an older Medicare Supplement or Medicare Advantage plan, you must cancel your old policy effective the day your new one starts. This keeps you from having double coverage and double paying with no added benefit.