Guaranteed Issue Med Supp

Recently we initiated contact with a group that has a "Guaranteed Issue Med Supp". It is not a standardized Medicare Supplement, but it is a plan that supplements Medicare and is almost like a Plan F and Plan N hybrid plan.

It is guaranteed issue in the sense that there are no health questions, not even "Do you have end-stage renal disease?". So for the individuals that can not get a Medicare Advantage Plan due to this health questions, you not have an option! This plan is offered through Benefits Association, Inc. a MS Non-Profit corporation. The plan has a one page application online that you can sign up for from any state across the country besides New York and Florida.

Guaranteed Issue Med Supp

Why would you choose this plan over any other Medicare Supplement in the market?

  1. Guaranteed Issue - since there are no health questions a previous surgery will not make you wait two years before seeing what other options are available (5 years for some Medicare Supplement Plans like Philadelphia American).
  2. Low Rate Increases - they have an average rate increase of less than 3% per year. That is 5% less than the average Medigap policy in force in 2013.
  3. Online Application - right now finding an insurance company that offers an online application is virtually impossible. There are a few in California but most states do not have a direct to consumer online application.
  4. Rates are age banded - a 69 year old will pay the same as a 66 year old. This policy puts rates in a age band. Ex: 66-69 =$XYZ, 70-74 = $XYZ.
  5. Guaranteed Renewable - these plans are guaranteed renewable. This is different from being a "Guaranteed Issue Med Supp or a Guaranteed Issue Supplement to Medicare". Guaranteed Renewable means that the plans are guaranteed to renew each year, you can not be cancelled.
This plan is not the most cost effective plan for everyone; however, for people who have received rate increases and are unable to switch due to a health issue you should definately check out the rates to see if it is more beneficial.

Call 1-877-936-2991 if you are interested in the supplement to Medicare plan!

 Benefits Association - Group Retiree Medical Plan