• Pre-existing conditions: If you have a "pre-existing condition," a known health problem, before you apply for a Medigap policy, you may have to wait up to six months before that problem is covered.
• High deductible: Plan F is available in a "high deductible" option, which means that you must pay more of the cost before the policy begins to provide benefits. Premiums for high deductible policies are typically less.
• Medicare SELECT: Medicare SELECT policies are sold in a few states by a few insurers. Except for emergencies, these policies require you to use pre-selected hospitals and physicians.
• Guaranteed renewable: Medigap policies issued after 1992 are generally guaranteed renewable. This means that as long as you pay the premiums, are honest about health issues, and the insurance company doesn't go bankrupt, the insurer can't drop your coverage. In some states, policies issued before 1992 may not be guaranteed renewable.
• Insurer pricing methods: The table below shows three common methods by which an insurance company will price its Medigap policies:
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