Medicare Supplement Underwriting
Medicare Supplement Underwriting
Two of the biggest questions when considering a Medicare supplement plan are, do I need to go through Medical underwriting and if so can I pass the underwriting guidelines. Medicare Supplement Underwriting is a process where insurance companies obtain information about your physical and mental health along with your medical history to determine if you will be approved or denied for a Medicare supplement policy.
So who needs underwriting? Clients who have passed there open enrollment period may have to go through underwriting. Clients that may want to switch Medicare supplement plans because of various reasons may have to go through Medical underwriting as well. Each carrier has a different process for underwriting. Some carriers may approve a client even if they have a pre-existing condition but may be at a higher monthly premium. Pinnacle Financial Services can help you obtain these underwriting guides for each carrier you are appointed with.
How do I bypass underwriting? If a client is in their Medigap Open Enrollment Period they can enroll in a Medicare Supplement plan without underwriting and not be charged a higher rate for health conditions. Another way is a special election period that can be triggered by moving to a state that does not have the carrier plan or a carry pulls the plan from the service area.
Pinnacle Financial Services is your one stop shop for all the top Medicare Supplement carriers. We take care of all the back office support that includes getting you appointed with the carriers, scrubbing and processing your applications, and tracking the applications all the way to the carrier until you are paid! Call today to find out what Medicare Supplement carriers are available in your area.
For more information on insurance agent E&O coverage, contact a Pinnacle Financial Services sales director.
Dustin Ofsharick
Director of Sales - Health
