When Can You Change Medicare Supplement Plans?
Medigap plans come with varying levels of coverage available at different premium price points for what they offer.
You might find you took a plan offering more coverage than you need or less, depending on your unique healthcare requirements.
Or you might be unhappy with the service from your insurer.
In that case, you’re probably wondering if you can change your Medigap policy to another plan or insurer. Yes. You can change your Medigap policy or insurer, but when can you change Medicare supplement plans, and are there any costs or penalties associated with switching?
Contact Us for Professional Advice on Changing Your Medigap Plan
If you’re unhappy with your current Medigap plan or insurer, contact us for free advice on making the switch.
Our team of Medigap experts is available to you at 1-888-891-0229 for a free consultation.
We’ll assess your healthcare needs and recommend the right plan and producer for your needs.
You can get a free automated quote for Medigap premiums using our online calculator or fill out the contact form on our site to have a fully licensed agent call you back for a chat.
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What Do Medigap Plans Cover?
All Medigap plans offer some level of coverage for the medical expenses that Original Medicare doesn’t cover.
Here is what you can expect to receive in coverage from your Medigap plan.
- Medicare Part A coinsurance and hospital fees.
- Medicare Part A hospice copayment or coinsurance.
- Medicare Part B coinsurance or copayment costs.
- Blood transfusions, up to the first 3 pints.
Additionally, some Medigap plans also cover the following.
- Copayments and coinsurance for care at skilled nursing facilities.
- Medicare Part A deductible.
- Medicare Part B deductible (Plan F only).
- Medicare Part B excess charges.
- 80% of emergency medical costs during foreign travel, up to a lifetime maximum of $50,000.
When Can You Change Medicare Supplement Plans?
All Medigap policies and insurers offer Medicare Pats & B beneficiaries a six-month “Open Enrollment” period starting their 65th birthday.
If you sign up for Medigap during the open enrollment period, the insurer must accept your application without forcing you to undergo a medical underwriting.
That means they must give you a Medigap plan during the open enrollment, even if you have a pre-existing health condition. Asa Medigap beneficiary, you can change your Medigap plan at any time of the year.
However, it might be beneficial to you to strategically change our plan at specific times during the year when it won’t influence the level of coverage you receive or the cost you pay for your monthly premium.
If you enroll in Medigap outside of the strategic points for doing so during the year, which we’ll discuss in a moment. The insurer may require you to undergo medical underwriting before accepting your application.
Medical underwriting involves an insurer assessing your current health status to determine the risk you present to their Medigap scheme.
If you have a pre-existing health condition, the insurer might charge you a higher premium for your new plan or deny your application entirely.
You might want to change your Medigap plan or your insurer for several reasons.
- No longer need the level of benefits the plan provides.
- You might need additional coverage.
- You can get a more affordable plan or better service from another Medigap insurer.
- You might experience a change in your financial position requiring you to cut or increase your Medigap benefits.
What is the Medigap “Free Look” Period?
All insurers and Medigap plans come with a “free look” period lasting from 30 days of your enrollment into the insurer’s Medigap scheme. You have 30 days from activating your Medigap plan to switch to another for any of the above reasons.
Can I Change Medigap Plans with Guaranteed Issue Rights?
Beneficiaries signing up during the open enrollment period have a “guaranteed issue right” on their Medigap plan. That means the insurer must accept your application, regardless of your health status.
So, they must offer you your requested Medigap plan, and they can’t limit your coverage or make your premiums more expensive to compensate for the risk you present to the scheme.
You have guaranteed issue rights for the following.
- The current Medicare Advantage or Medigap provider closes and stops offering plans in your area.
- You have Original Medicare Part A, Part B, and Medigap coverage through your employer’s group health plan, which is ending.
- When signing you up, your current insurer misled you or broke the laws governing ethical conduct in obtaining new beneficiaries.
- You signed up for Medicare Advantage at 65 and decided to enroll in Original Medicare within a year and take out a Medigap policy to supplement your healthcare costs.
- You drop a Medigap plan to enroll in a Medicare Advantage and decide to switch back to Original Medicare and Medigap within the first 12 months.
Is there a Deadline for Changing My Medigap Plan?
There’s no annual deadline for switching your Medigap plan; you can do it anytime during the year.
However, if you change plans, you might not qualify for guaranteed issue rights. So, in this case, you’ll have to undergo medical underwriting.
If the insurer finds you a high risk to their scheme due to a pre-existing health condition, they have the right to increase your premiums or deny you a Medigap plan.
Six states offer a “Birthday Switch Date” where you can change your Medigap plan without needing medical underwriting.
However, every insurer has different risk-assessment criteria governing the medical underwriting process and what they consider as high-risk. So, one insurer might deny you cover or wish to increase your premiums, while others won’t.
For this reason, you should consult with a professional, licensed broker before attempting to make any change to your Medigap plan. We’ll give you the advice you need to make a successful switch without it impacting your medical requirements or premium costs.
Do I Have to Renew My Medigap Plan Every Year?
No. Medigap beneficiaries don’t have to renew their policy yearly or undergo medical underwriting to maintain their benefits.
Some insurers may increase your premiums annually as you age, and others won’t; it depends on the insurer.
Contact us, and we’ll walk you through everything you need to know about changing your Medigap plan or insurer.
Frequently Asked Questions
When can I change my Medicare Supplement plan?
You can change your Medicare Supplement plan at any time of the year, unlike Medicare Advantage plans. However, the best time to switch is during the Medigap Open Enrollment period, which starts the first month you’re both 65 and enrolled in Medicare Part B.
Can I change my Medicare Supplement plan outside the Open Enrollment period?
Yes, you can change your plan outside the Open Enrollment period, but you might be subject to medical underwriting, which means the insurer can consider your health status before approving the change.
Is there a penalty for changing Medicare Supplement plans?
No, there’s no penalty for changing plans. However, you might have to answer medical questions and the premium could change based on your age, location, and health status.
How often can I switch my Medicare Supplement plan?
There’s no limit to how often you can switch, but frequent changes could lead to higher premiums due to age and health-related factors.
Can I change my Medicare Supplement plan if I move to another state?
Yes, moving to a new state gives you a guaranteed issue right, allowing you to switch to a plan available in your new state without medical underwriting.
What if I want to switch to a plan with more benefits?
You can switch to a plan with more benefits, but you might need to go through medical underwriting if it’s outside your Medigap Open Enrollment period.
Can I change from a Medicare Advantage plan to a Medicare Supplement plan?
Yes, you can switch from Medicare Advantage to Medicare Supplement, but ensure you disenroll from the Advantage plan and apply for the Supplement plan during appropriate enrollment periods.
How long does it take for the new Medicare Supplement plan to become effective?
The timing varies, but generally, your new coverage starts on the first day of the month following approval.
Can I change my Medicare Supplement plan if my current plan stops offering coverage?
Yes, losing coverage due to plan discontinuation gives you a guaranteed issue right to switch to a new plan without medical underwriting.
Can I change my Medicare Supplement plan if my health changes?
You can change plans due to health changes, but outside your Medigap Open Enrollment period, the new plan could base your premium on your health status.
When Can You Change Medicare Supplement Plans and How to Get Started
If you’re thinking about changing your Medicare Supplement Plan, comparing rates from different insurers and for different plans is essential.
To get the process started, submit the form to the right or give us a call at 1-888-891-0229.
We’ll provide you with accurate quotes from the most reputable insurers in your area.
Updated December 4th, 2022