What are Medicare Provider Application Fees?
What is an Application Fee?
Medicare insurance provider may charge an application fee, a specific amount required to underwrite the policy. Most insurance carriers charge application fees, but some providers do not. An application fee may be anywhere from $7 to $25 in 2019.
When do I pay an Application Fee?
You only pay an application fee when your application is approved. In other words, when the carrier declines your policy, you will not be charged any fee. However, when the provider accepts your application, you will have to pay the application fee.
If you are applying outside your initial Open Enrollment Period, carriers can decline your application based on your medical conditions and underwriting guidelines. For example, you want to switch from Medigap Plan F to Plan G to save on monthly premiums. You will need to go through the Medicare Supplement Insurance Underwriting process.
The Best Time to Apply for Your Medigap Plan
Medicare.gov says the best time to apply for Medigap policy is during your initial Open Enrollment Period (OEP). During your OEP, providers can not disqualify you based on your health condition and can not deny you coverage. Moreover, carriers can not charge you more because of health issues. When you apply for Medicare Supplement Plan during OEP, your coverage is guaranteed.
Senior Healthcare Direct can help you save on your Medicare Supplement Plan. We compare prices with many Medigap companies so you know all your options. Furthermore, our licensed agents can make carrier recommendations based on your health conditions so your application gets approved. To start saving on your Medigap Plan, call 1-855-368-4717 or get your quote.