What can happen if you apply for a Medicare Supplement policy outside of specific enrollment periods?

When applying for a Medicare Supplement policy outside of specific enrollment periods, insurers have the legal right to deny your application or to impose higher premiums based on your health status and medical history. During the designated enrollment periods, individuals have guaranteed issue rights, which means they cannot be denied coverage based on pre-existing conditions or charged more due to health issues. However, outside of these periods, the protections afforded by these rights are not in place. This means an application could be subject to underwriting, where the insurer evaluates the applicant’s health and decides whether to approve the policy and under what terms. As a result, applicants may face challenges securing coverage or may encounter significantly higher costs than they would have experienced during an open enrollment period. This understanding emphasizes the importance of applying during the appropriate time frames to secure the best available coverage options.