Underwriting is the process assessing risk of issuing insurance. Undewriters evaluate applications,
If you have a Medicare Supplement plan in Oregon, you need to be aware of a state rule that can help prevent you from overpaying on your premiums. Most seniors experience rate increases about once every year. The rate increases may seem small at first, but they add up with time. Fortunately, seniors in Oregon can keep the coverage they like and shop for better rates using the Birthday Rule.
Seniors with Medicare Supplement plans in Oregon can shop for their coverage year-round, but typically have to go through a process called underwriting. This process allows carriers to choose who they will accept or decline based on their health. Certain health issues can prevent you from changing your coverage. The Birthday Rule allows you to avoid this process. If you submit your application in the correct time-frame with the right documentation, you can automatically be approved by a carrier of your choosing that has a lower rate, for the same coverage.
Your GoMedigap agent can find you the best rates, and ensure that your application is submitted correctly. For more information, or to see how else we can help, give us a call at (866)894-3258. If you would like to get started online, you can use our free quote tool below.
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While your GoMedigap agent will guide you through the process, you may find out article Switching Medigap Plans helpful.
Medicare can impact your Health Savings Account. If you have an HSA and are starting Medicare, it’s vital to read Does Medicare Affect Your Health Savings Account?