Changing Medigap Plans

Circumstances change. Your life and your health can be radically different from what they were a year ago—or even a month ago.

Fortunately, you’re not locked into your current Medicare supplement plan for life. As your circumstances change, you’d be well advised to reevaluate your current Medicare supplement plan. After you see what Medicare supplement plans are available in your area, you have every right to apply for a new Medigap plan if you decide a change is in order.

Can a Medicare supplement insurance company reject my application for a new plan?

Not if you’re still in the first six months of enrollment in your current Medigap plan. You can’t be turned down if you’re interested in buying a newer version of your old plan, either. You won’t need a medical review if either of these circumstances applies to you.

Can I change my Medigap coverage at other times, too?

If you’re interested in switching Medigap plans, you’re free to apply for a new Medicare supplement insurance policy at any time. Your case may be subject to medical review, however, and your application may be rejected if you don’t meet medical underwriting requirements. For this reason, you shouldn’t drop your current Medicare supplement insurance until after your new policy takes effect.

You may be thinking about changing your Medicare supplement policy for one of these reasons:

Finances—You can never be certain how your financial situation will evolve over time. Perhaps the amount you budgeted for healthcare several years ago is more than you can afford now. Or maybe the opposite is true and you have a little more disposable income than you used to have.

Finding a better value for your dollar—With rate fluctuations, it may well be that last year’s best value isn’t the best value any longer. MedicareMall shops the market constantly for the top deals, and we’ll be happy to help you determine what’s best for you at any particular time.

Wanting better benefits—Maybe you’re getting tired of paying a high deductible and figure it’s time for a change. Maybe you’d like lower copayments or certain coverage you’re not getting now. In short, it’s possible that what served you well in previous years isn’t your best option anymore. Or maybe you figure it’s time to upgrade to Medigap Plan F, which is designed to cover all the high-risk gaps in basic Medicare coverage.

Your changing medical history—Your healthcare concerns are likely to change over the years. You may well have new priorities and considerations when it comes to Medigap coverage.

How easy is it to switch Medigap policies?

For most applicants it’s not hard. Here’s how to switch Medicare supplement plans.

If you decide to change from one Medicare supplement insurance policy to another, the first thing you have to do is apply for your new policy. After your application is accepted and you’re issued your new policy, you need to inform your old insurance company that you want your coverage to end. Your old insurance company will tell you how to submit your request to end coverage.

Before making a final decision to cancel your previous Medigap policy, you’ll have a 30-day free look period in which to try out your new Medigap plan. For this one-month period you’ll pay premiums for both plans. If you decide your new policy is right for you, you’ll have to cancel your first policy.

Of course, if you want a hassle-free transition from your old Medigap plan to a new one reflecting your current circumstances and priorities, you’ll want to call MedicareMall today at (877) 413-1556. Each week our specialists handle many such replacements, and in most cases the entire application process can take place over the phone in minutes. If you think it may be time to replace your current Medicare supplement plan with another, contact MedicareMall and we’ll lead you with confidence through the Medicare maze.

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