Can I switch to a different Medicare Supplement Plan (Medigap)?
In most cases, you won’t have a right under Federal law to switch Medicare Supplement plans, unless you are within your 6-month Medigap open enrollment period or are eligible under a specific circumstance for guaranteed issue rights.
But, if your state has more generous requirements, or the provider is willing to sell you a Medicare Supplement Plan, make sure you compare benefits and premiums before switching. If you bought your Medicare Supplement plan before 1992, it may offer coverage that isn’t available in a newer Medigap policy. On the other hand, older Medigap plans might not be guaranteed renewable and might have bigger premium increases than newer standardized Medicare Supplemental plans currently being sold.
If you decide to switch, don’t cancel your current plan until you have decided to keep the new one. On the application for the new plan, you will have to promise that you will cancel your first Medicare Supplement Plan. You have 30 days to decide if you want to keep the new plan. This is called your ‘free look’ period. The 30-day free look period starts when you get your new Medicare Supplement Plan. You will need to pay both premiums for a month.
More Articles About Medicare Supplement
- Medicare Supplement Plans
- Am I Eligible For A Medicare Supplement Plan?
- Medicare Supplement Plans (Medigap) A through L And The New Plans M And N
- Do I Have Medicare Part D Prescription Drug Coverage With A Medicare Supplement Plan?
- Can I switch to a different Medicare Supplement Plan (Medigap)?
- Can I keep my current Medicare Supplemental Insurance or switch to a different Medigap policy if I move out-of-state?
- How Do I Cancel My Medicare Supplement Plan (Medigap Policy)?
- Does Medicare Supplemental Work With A Medicare Advantage Plan?
- What happens to my Medigap policy (Supplemental Insurance) if I join a Medicare Advantage Plan?
- How Much Does Medicare Supplemental Insurance Cost?
- How Do I Enroll In A Medicare Supplement Plan?
- What Is New For Medicare Suplemental Insurance Plans In 2010?
