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Creditable coverage is health insurance that meets or exceeds what Medicare covers. If you have creditable coverage, you can delay signing up for Medicare without penalty.
If you move, lose coverage, or have a chance to get creditable healthcare coverage through a special program, your employer, or a union at your workplace, you may be able to take advantage of a SEP.
A person may delay Medicare enrollment as they may have other types of health insurance, known as creditable coverage. Read on for more.
Creditable coverage" is defined quite broadly and includes nearly all group and individual health plans, Medicare, and Medicaid. [12] A "significant break" in coverage is defined as any 63-day period without any creditable coverage. [13] Along with an exception, it allows employers to tie premiums or co-payments to tobacco use, or body mass ...
Guaranteed issue is a term used in health insurance to describe a situation where a policy is offered to any eligible applicant without regard to health status. Often this is the result of guaranteed issue statutes regarding how health insurance may be sold, or to provide a means for people with pre-existing conditions the ability to obtain health insurance of some kind.
This Coverage Gap phase is commonly referred to as "the Donut Hole." Beginning with the Affordable Care Act, cost-sharing in the Coverage Gap phase has been gradually reduced. Despite no longer triggering elevated cost-sharing, the Coverage Gap phase continues to exist for other administrative purposes.