Applying for a Medicare Supplement plan is a relatively easy thing to do. It should not be made more difficult than it is, particularly if you are in open enrollment or guaranteed issue, during which you cannot be made to disclose medical information or answer medical questions. There are, of course, a few things that you should make sure not to do when you are applying for a Medicare Supplement plan. These will prevent future rescission of your policy or problems with claims in the future when you most need your policy.
- This should go without saying, of course, but it needs to be said. Do not be dishonest on your Medicare Supplement application. Of course, you shouldn’t be dishonest other times either, but that’s up to your own morality! I’m just concerned with the negative consequences that being dishonest on a Medicare Supplement application could/would have on you, your insurance, your family, your agent, etc. In most cases, there are medical questions on the application. Sometimes, there are terms that are not familiar to you, because they are medical terms. If you do not know if one of the terms applies to you, usually an agent can answer the question for you. Or, you can contact your doctor to find out the answer.
- Do not leave required information out. Some information is “required” because of just that – it has to be received in order for a company to process your application. There are some fields on most applications that are not required. However, the bulk of the information, if it is on there, is required and is necessary to process your application. Not a week goes by when someone tells me that they want to pay by monthly bank draft but don’t want the company to have their bank information or they want to link their supplement policy with their Medicare but they don’t want to give the supplement company their Medicare number. While I can certainly appreciate the need for security and privacy, it is sometimes necessary to divulge to the company enough information to serve you properly.
- Do not apply for multiple Medicare Supplement plans. So many people think this is a good idea, but it is simply not. You should apply for one Medigap plan only. First off, you only need one, and you cannot have more than one. Also, an agent cannot sell you one if you do not intend to replace one that you have currently. They cannot knowingly sell you two Medigap plans – this is for your protection. Sometimes, people do this because they are afraid they will not get approved for the plan. However, you should apply for the first plan, wait to see if it gets approved, then apply for a second option if it does not get approved.
Completing a Medicare Supplement application is not as difficult as many other types of applications. It is advisable to use an agent or broker when you are completing one, so that they can clarify any questions and help you submit the application properly. Whether it is us or someone else, we recommend having an agent’s free services on your side. If you have questions or need help getting a plan lined up, please visit our website or call us at 877.506.3378.