What happens if a consumer does not apply during the Medicare Supplement Open Enrollment period?

If a consumer does not apply during the Medicare Supplement Open Enrollment period, they could be charged a higher rate. This period is critical because it guarantees applicants the right to purchase any Medicare Supplement plan without medical underwriting, meaning they cannot be denied coverage or charged more due to pre-existing conditions.

If individuals miss this enrollment window, they may still apply for coverage later, but their application could be subject to medical underwriting. This means that the insurer may review their medical history and health status, which could lead to higher premiums based on their health conditions or even denial of coverage altogether. Therefore, missing this opportunity could result in increased costs for the consumer compared to those who applied during the Open Enrollment period.