Grace Period
Costs & CoverageA set amount of time after a premium due date, typically extending into the following month or two, during which you can still pay a missed Medicare Advantage, Part D, or Medigap premium before losing coverage.
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Guaranteed Renewable
MedigapA feature of standardized Medigap policies requiring the insurer to renew your coverage every year as long as you pay your premium, regardless of your health or how many claims you have filed.