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How Can I Switch Medicare Supplement Plans?

Medicare Supplement plans, also known as Medigap, are private insurance plans that cover the out-of-pocket expenses that Original Medicare doesn’t cover. These expenses include deductibles, copayments, coinsurance, excess charges, etc. To enroll in a Medicare Supplement plan, you must have Original Medicare.

If you are enrolled in Medigap, there are various reasons as to why you may want to change your plan, such as:

  • You’re paying for coverage you do not need.
  • You want a more affordable supplement plan.
  • You need a more comprehensive plan.
  • You decide to switch insurance companies.  

How to Enroll in Medigap

According to federal law, all eligible Medicare enrollees have a period where they have a guaranteed issue right to enroll in a Medicare Supplement plan. This is known as the Medigap Open Enrollment Period. This period lasts for a total of six months and begins as soon as you are 65, and your Part B coverage starts.

However, after this period, you may have difficulty purchasing or switching to another Supplement plan as insurance companies may deny you coverage or charge you more due to some factors. If you wait to enroll in a Medigap plan after your Medigap Open Enrollment Period has passed, the insurance company could have you undergo a medical underwriting process to determine your eligibility.

Can I Switch Plans?

Unfortunately, under federal law, you are not able to switch Medigap plans unless one of two things happens:

  1. Even if you’ve enrolled in a Medigap plan, you’re still in the six-month period of the Medigap Open Enrollment Period.
  2. You still have a guaranteed issue right to switch plans, or you’re eligible to switch because of a specific circumstance.

If you are able to switch plans, you will be given a 30-day free-look period for the plan you want to switch to. However, you’ll still have to pay the monthly premium for your current Medigap plan, as well as the new Medigap plan you’re checking out. If possible, don’t cancel your old Medigap plan until you know that the new plan suits your needs the best.

To learn more about switching Medigap plans and how to switch plans, reach out to My Healthcare Direct today!

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