So you have a Medicare Supplement insurance plan, and you have heard of another one. “Can I Change Medicare Supplement Insurance Plans Anytime? You might ask. The answer is “Maybe” — it depends on your situation.
Before you change Medicare Supplement insurance plans: a brief overview
As you know, Medicare Supplement (Medigap) plans differ from Medicare insurance plans. They are designed to supplement your initial Medicare insurance coverage (Part A and Part B) by paying certain expenses at the expense. For example, a Medicare Insurance Supplement plan may pay for your co-insurance from Medicare Parts A and Part B or co-payments. Some Medicare Supplement plans may cover Part A and/or Part B deductions, and more.
Why might I want to change Medicare Supplement plans?
You may be satisfied with your current Medicare Supplement Plan. But there are certain situations where you may want to change your plan. Here are some examples:
- He found a supplementary Medicare insurance plan for a lower premium. Maybe he even found the same plan for less money, offered by a different insurance company.
Each Standard Medicare Supplement plan with the same letter name has the same basic benefits, no matter where you buy the plan. For example, each Medicare Supplement A (not to be confused with Part A of Medicare) includes the same basic benefits. So if you have a Medicare Supplement A plan (or a letter) and you see that a plan of the same name is sold by a different insurance company, the basic benefits will be the same. Please note that Massachusetts, Minnesota and Wisconsin have standardized plans differently.
- You found that you need more benefits than your Medicare insurance supplement plan and want to switch to a plan with more benefits.
- You found that you do not need or want all of the benefits offered by your Medicare Supplement plan, and you would like to switch to a plan with fewer basic benefits and perhaps a lower premium.
- You would like to buy your plan from another insurance company.
When can I change Medicare Supplement insurance plans?
An interesting feature of Medicare Supplement plans is that you can apply for a plan at any time; all you need to do is be enrolled in Parts A and B of Medicare. However, a plan does not have to accept your application unless you have guaranteed allowances. The same applies if you want to change the Medicare Insurance Supplement plans. Guaranteed allowances mean that when you apply for a Medicare Supplement plan (change your plan or buy one for the first time), you cannot be refused if:
- You are enrolled in Parts A and B of Medicare, and you are enrolled in the 6-month Medicare Insurance Supplement (ODP) registration period.
- This period begins in the month when both are 65 years of age or older and are enrolled in Part B, or when you have guaranteed allowances after your EPO, for a different reason (see below).
Can you change Medicare Supplement plans anytime?
Suppose you have a Medicare Supplement insurance plan and you want to change your plan outside the EPO described above. In most cases, the insurance company can review your medical records and consider your Medicare status.
They can charge you a higher premium or even refuse to accept you as a member. Certain situations may give you guaranteed allowances to modify the Medicare Supplement insurance plans. There are several situations where you can have guaranteed allowances. Here are some of them:
- You entered a Medicare Advantage Plan for the first time, and you decided to withdraw the plan and purchase a Medicare Supplement plan instead. (Both types of coverage do not work together.)
- You have a SELECT medicare plan and leave the plan’s service area. Medicare SELECT plans are usually the only Medicare Supplement plans that have network of providers that you may have to use.
- You can switch to a standardized Medicare insurance supplement with basic benefits identical to or fewer than your current plan, or purchase a Medicare insurance supplement plan A, B, C*, F*, K or L.
- You have subscribed to your Medicare Supplement plan for less than six months. If the insurance company agrees to sell you a new policy with the same basic benefits, you cannot add conditions (such as trial periods) related to pre-existing Medicare problems. However, you may have to wait up to six months for the diet to cover your pre-existing condition.
Remember that this list is just a few examples. If you want to change the Medicare Insurance Supplement plans, you can call the insurance company and apply.
Changing Medicare Supplement plans: the free look period
Did you know that you can get a “free appearance period” when you change your Medicare insurance plan? When you switch from one Medicare Supplement plan to another, you usually have 30 days to decide if you want to keep it.
This 30-day free appearance period begins when you get your new Medicare Supplement Plan. You will have to pay premiums for your new and old plan for one month.
How can I change Medicare Supplement insurance plans?
To change Medicare insurance plans, call the insurance company that sells the plan you want. If they accept your application, call your current Medicare Supplement insurance company and ask how to terminate your insurance with your current plan.
- Keep your current (old) plan for the 30-day free appearance period described above.
- If you decide that you like the new plan, contact the insurance company that sold you your previous plan and cancel it in writing. Follow the instructions in the insurance plan. Your insurance agency cannot cancel the plan for you.
- If you decide not to keep the new plan, you can stay with your old man. But once you cancel the old font, you usually can’t get it back. *Medicare Supplement plans that may cover the deductible of Medicare Insurance Part B (Plan C and Plan F) will eventually be suspended.
You cannot purchase Plan C or Plan F if you did not qualify for Medicare insurance before January 1, 2020. If you are eligible for medicare before that date, you may be able to purchase the C and F plans. Normally, you will not have to leave Plan C or Plan F if you already have it.
If you would like help changing Medicare insurance plans, do not hesitate to contact an authorized Medicare ABC Insurance Agent at the telephone number below. Would you like to consult the Medicare Insurance Supplement plans to review your basic benefits and see what might be right for you? Simply enter your postal code in the box on this page to get started.
Product and service descriptions, if any, provided on these Medicare ABC websites are not intended to constitute offers to sell or request for any product or service. Not all products are available in all areas and are subject to applicable laws, rules and regulations.
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