Selecting your medicare benefits is a difficult decision. It is important to lay out all of the options and understand which will be available to you in the future. I mention this because many people make a big mistake during their initial enrollment period and pay for it later in life.
Healthy individuals may feel it is best to select an inexpensive plan during this initial enrollment period. They may pass on the more expensive Supplemental plans because they do not need them at the moment and know they are available to them again each fall at open enrollment. However, many do not know this important fact:
A current diagnosis of cancer will cause the carrier to decline your coverage.
Yes, Medicare does have open enrollment every year. However you are subject to a medical evaluation if you want to switch to a supplement plan. If you are diagnosed with cancer, you will not be able to enroll in these popular Supplemental plans.
Many people remember that the recent Affordable Care Act did remove any restrictions regarding pre-existing conditions. This is one of very few scenarios where a medical evaluation can come back to bite you.
This is not to say that Medicare Advantage Plans are not capable of providing quality care to cancer patients. However, Supplemental Plans like Plan F and Plan N are quite popular for a reason. They provide excellent coverage (you’ll often have no out of pocket costs) and almost every doctor accepts these plans.
There are Pros and Cons to Advantage Plans and Supplemental plans but keep this in mind when making your medicare decision.
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