Switching Medicare Supplement (Medigap) Policies ? may be you are not satisfied with your current Medicare supplement plan and you are thinking about switching then this article is perfect for you. We knew that medigap is a Medicare plan that includes some of the facilities which didn’t covered by the original Medicare with low out-of-pocket cost. 

Sometimes you are thinking about switching because of some financial reason or if the plan doesn’t suit you. There are some reason when you want to change your current Medicare supplements plan

  • If your plan premiums are getting too expensive for you
  • If you are not satisfied with your current Medigap insurance company.
  • If you need more coverage of the plan in same price
  • If you want to lose some benefits as well as price because you don’t use this. 

If you want to switch your current medigap plan then before changing your plan you have to pay attention to all the documents, benefits against cost, value for money and all of this. 

The best time to switch Medigap insurance policies?

Switching Medicare Supplement (Medigap) Policies

Switching Medicare Supplement? The best time to enroll yourself is during the Medigap Open Enrollment Period. It is a six months time window that starts in the month when you turn 65 and get your meditate part B plan. It is the best time for you because if you don’t like your plan after enrolling yourself then you can simply switch to another medigap plan without any hesitation. Keep remember that if the Medigap Open Enrollment Period is over you may have more trouble to change your current plan or may be to pay extra out-of-pocket cost. Sometimes they check your application form and take too long to review and can reject you if you have a costly disease according to them. 

There are some limited situation where you can enroll yourself that is

  • If your Medigap insurance company has misled or deceived you.
  • If your Medigap insurance company faces losses. 
  • If you are moved out of the plan’s service area.
  • You are enrolled in the original Medicare and have an employer- or union-sponsored group plan that Medicare pays after paying its share and the health plan for that group is coming to an end.
  • You’re enrolled in a Medicare SELECT policy and move out of the Medicare SELECT plan’s service area.
  • If you drop your Medigap plan and enroll for Medicare Advantage plan for the first time,and being disatify you want to switch back to Original Medicare and your Medigap plan within the first year. 
  • You enrolled in a Medicare Advantage plan, when you were first eligible for Medicare Part A at age 65, and you changed your mind within the first year and want to switch to Original Medicare. 

You can only enroll yourself in the given circumstances for the plan. 

Can I switch back to my old medigap plan if I am not satisfied with the new one ?

If you are worried about if you are not satisfy in your new plan then what you can do then i will tell you about 30-days free-look period. Whenever you want to enroll in a new medigap plan you may take a 30-days free-look period where you can test your new medigap plan. If you are not interested in the new medigap plan then you can go back to your old medigap plan. Here you can see how it works:-

  • When you apply for the new Medigap plan, you must be told that you will not cancel your first policy until the 30-day period has ended.
  • Then You have to pay two premiums (both for your original Medigap plan and the new policy) in this month. 
  • When 30 days ends, you can cancel your first Medigap plan if you are satisfied with your new policy. If you don’t like your new Medigap plan then you can cancel the second policy and keep your first plan. Insurance companies will give you proper guidelines.