The open enrollment period is the time when the person is eligible and has the right to avail guarantee issue Medicare Advantage plans. This is the time, when no insurance company, all over the country can deny or reject applications. They are to sell choice of policy to such clients. Also, they are required to cover the pre-existing conditions and health issues faced by the applicant. They cannot ask any question when giving out the policy or charge more to cover the health issues. The open enrolment period lasts for about 5 months from the first date of the month the person turned 65 & enrolled with Medicare Part B. A advantage policy can be availed according to choice during this period, without having to answer to any type of questions by the provider.
How to qualify for Guarantee Issue Medicare Advantage plans?
By meeting certain given criteria, it is possible to avail Medicare Advantage plans with ‘guarantee issue’.
- The person has Medicare Advantage plan, which is not covered on moving to another area.
- The person has Medicare along with employer group coverage which is due termination very soon. Coverage might end for varying reasons like company working for cancelling the benefits, retirement, etc.
- The person has Medicare Select Policy, which again is not valid if the person moves out of the company’s service area.
- On turning 65 years of age, the person enrolls with Medicare Advantage plan. Later, he decides to switch to original Medicare during the first year itself.
- The person has Medicare Advantage plans and then decides to drop the same to enroll with Medicare Advantage Plan or Medicare Select Plan for first time. Again, he finds them not to be helpful and within the year, decides to switch on the same plans held before. Select or Advantage Plan for the first year is trial period.
- He/she has a advantage policy, where the provider goes bankrupt.
- The person decides to leave Medicare Advantage plan since it did not follow prescribed rules.
Therefore, the rules to qualify for Guarantee Medicare Advantage plans can be really confusing for majority of the people. Hence, the best bet will be to consult a good, honest and professional insurance agent who specialized in Medicare and can readily answer to all questions quite satisfactorily. Also the agent should be someone attached to different insurance companies to offer competitive quotes.