Medicare Can Not Ding You For Having Pre-Existing Health Conditions

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Some worry that when they sign up for Medicare, they will pay more if they have pre-existing health conditions.  That’s not true for Medicare or Medicare Advantage (MA) and Part D prescription plans.  This also holds true for supplemental policies (Medigap) only if you sign up for it during your six-month Medigap open enrollment period.  If you want it later, an insurance company can charge you more or refuse to sell you a policy because of your health status.

Source AARP Bulletin, June 2022.

Choose Medicare Advantage Plans Carefully

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Once per year, Medicare recipients have a chance to change their Medicare Advantage policy, and they also have the chance to buy a Medigap insurance policy anytime between October 15 and December 7.  But choose carefully.  Although Medicare Advantage policy benefits are pretty transparent, switching to a Medicap policy does carry significant risks.  In most states, Medigap insurers can turn you down due to preexisting conditions, or charge you more based on your health or age.  Don’t cancel your Medicare Advantage policy in favor or a Medigap policy until you fully understand the financial implications.