Medicare
What is Medicare Supplement underwriting?
Medical underwriting is the process insurers use to evaluate your health history before deciding whether to sell you a Medigap plan and at what price. Outside Open Enrollment and Guaranteed Issue situations, insurers can ask about your medical history, review prescription records, and check the MIB database. They can approve at standard rates, approve at higher rates, approve with a rider, or deny coverage.
Key Points
- Underwriting evaluates your health history before approving coverage
- Only applies outside Open Enrollment Period and Guaranteed Issue situations
- Insurers check medical records, prescription history, and MIB database
- Outcomes: approve at standard rates, higher rates, conditional rider, or denial
- Different carriers have different underwriting guidelines for the same conditions
- An independent agent knows which carriers are most lenient on specific conditions