Those who have been looking for Medicare supplement insurance know that the process is not an easy one. There are many different types of gap insurance out there, and it can be confusing trying to discern which are the best choices. Here are a few tips to guide you along the way:

Medigap insurance is a supplemental insurance offered by private insurance companies and created to cover the gaps in the Medicare policy. Medigap insurance does not cover dental, long term care, eyeglasses, hearing aides, vision or private duty nursing care. Medigap supplemental insurance also does not cover prescriptions. For prescription coverage you will need to enroll in Medicare part D.

You have a chance of being moved from your current provider if they decide to go out of business. This will really call for your attention to changes in policies and how much you will be paying per month. The most popular plans are at risk. If medication is more costly for you, you may want to consider plans that are more suitable for your needs. You may have to end up shopping around for providers.

There are newer plans that are extremely cost effective that are entering into the business today that may become very tempting. These still need to be thoroughly reviewed to determine what your cost out-of-pocket will be for medications. It can become a hassle when comparing costs for premiums and prescription drugs combined; but it is very necessary.

Many find that they are overwhelmed with the number of plans available to compare. You can start by knowing what your needs are. If you can narrow the plans down to only those which are relevant to you, it makes the process much easier.

This window is called open enrollment and is good for the period of time 3 months before your 65th birthday and 3 months after it. During this window the insurance company cannot use medical underwriting. By law during this period of time you cannot be turned down for the policy, you will pay a set amount no matter what your health is like and there is no waiting period for care except for certain preexisting conditions.

Any preexisting condition that you were being treated for during the 6 months prior to purchasing the medigap you will not have to wait through the preexisting coverage term. If you miss your open enrollment term for medigap then the insurance company will be allowed to use medical underwriting. Medical underwriting may turn you down for coverage due to health or may charge you double the premium you could have gotten so it is very important to use your open enrollment period.

Medicare supplement insurance or medigap is a very important addition to your Medicare coverage plan. It covers the things that are out of pocket costs under a original Medicare policy. To be eligible for a medigap policy you will need to be enrolled in Medicare Parts A and B and you will want to be sure to take advantage of your open enrollment term .