If you are thinking of getting a Mutual of Omaha Medicare Supplement then you must first look into the various eligibility criteria involved in the said purchases. You will not be able to purchase Medigap policies whenever you feel like. There are certain time periods when you will be allowed to make such a purchase.
There are also other criteria which you need to look after. Your medical condition is also very crucial in this regard. If you are diagnosed with certain types of ailments then the insurance company may choose not to sell you Medigap policy. However, once sold to you, the company will not be able to dismantle the policy even if you are ill at any point of time after such purchase is made.
Various eligibility criteria
The most important eligibility criteria for purchasing Medicare Supplement Plans are as follows:-
- In order to purchase Medigap policy, you must first enrol into Part A and Part B of the original Medicare plan.
- You also need to remain enrolled in your original Medicare policy as far as hospital and medical coverage is concerned. Medigap policy cannot function alone.
- You need to attain an age of sixty five years in order to become eligible for this policy.
- If you are under the age of sixty five and have a Medicare policy because of some disability then the company may offer you Medigap policy depending on your current state.
- You should remember one thing about this policy that it does not include the prescription drugs coverage. There were certain policy that did in the past but the policy of today’s time does not provide any such benefit.
- You must enrol into Medigap policy during the open enrolment period when the company will not be able to reject your application.
- However, the company may ask you to wait for a period of six months before it will start covering your pre existing medical conditions.
Do Medicare Supplement Plan and Medicare Advantage Plan work together?
The answer to this question is a plain no. The Medigap policy does not work with the advantage plan. You will have to drop one of these. The reason for this is simple. There are certain coverage in the Medigap policy that are beyond the Advantage Plan so even though you will be paying for such benefits but at the time of claim you will not be compensated because the Medicare Advantage Plan will prevail over Medicare Supplement Plans.