Applying for Standard Life Insurance Medicare Supplement Plans

When choosing a Standard Life insurance Medicare supplement plan, it is important that you go in knowing the basics of each plan and have a good idea of which plan or plans you want to purchase.

Why It Is Best to Apply During Your Open Enrollment Period?

When you reach the age of 65, you will have what is known as a Medicare Open Enrollment Period. This period, which will start 3 months before your 65th birthday and last until 3 months after your 65th birthday, is a special time where many normal insurance restrictions are lifted. This is the best time to take a look at and enroll in Standard Life insurance Medicare supplement plans for several reasons, including:

· The insurance company will not be able to charge you a higher premium due to your health (in most situations; however, there may be some exclusions). You will receive the same rate that everyone else your age receives. This is important because it will save you a lot of money in monthly premiums, especially if you are not in optimal health. Even if you miss your Open Enrollment period, it is still best to apply for supplemental insurance as soon as you can. The longer you wait, the higher your premiums will rise.

· Aside from receiving lower premiums, you also cannot be denied for supplemental insurance during this time. It does not matter what company you apply with or what supplement plan you wish to purchase, they have to cover you. It is your decision to deny or accept the offer that they give you for your needed plan or plans. This is important for individuals who may have trouble getting additional Medicare coverage otherwise.

· Lastly, if you enroll during this period, your coverage will start right away. The insurance company cannot make you wait for your coverage to begin. This is important for those who need to see a doctor or have medical services performed immediately.
What Else You Should Know Before You Apply

1. There are several different Medicare supplement plans, so you need to read over the policy that you are applying for carefully. This can result in surprises when you receive a large medical bill because your policy did not cover what you thought it did.

2. No supplement plans cover everything and you may need to purchase several different plans in order to get all the coverage that you need.

3. You and your spouse need to apply separately. This is not like a normal insurance plan where everyone who qualifies can be covered under one account. You will have separate applications, separate accounts, and even separate premiums.

Now that you have the information you need in order to begin the application process, take a look at the Standard Life insurance Medicare supplement plans available to you. Apply during your Open Enrollment period if you can and make sure you read over all of the options carefully, so that you understand what you are applying for.