When choosing a Medigap plan many people wonder if they are able to change their plan down the line. The answer is: it depends.
Switching your Medigap Plan
Once you choose a plan, many times you will have to stay with that plan. According to the CMS website, “In most cases, you won’t have a right under Federal law to switch Medigap policies, unless you’re eligible under a specific circumstance or guaranteed issue rights, or you’re within your 6-month Medigap open enrollment period.” However there are certain circumstances in which you may switch your plan outside of this period:
- Downgrade Your Plan.
This is usually a straight forward process to switch from a Medigap Plan with more benefits to one with less benefits as long as stay with the same insurance company. As your agent, you can call us and we can help you move. - Use the Birthday Rule.
Some states have a Medigap birthday rule. This rule allows you to switch your plan and/or provider every year during your birthday month. - Move out of your Network.
If you have Medigap SELECT and move out of your network area you have two options: Choose another Medigap SELECT plan or a regular Medigap plan. - Apply for Another Plan.
You can always apply for a new plan with another insurance provider. If you are accepted then you can switch to that plan. Remember you’ll have to show health records. If you are healthy, no problem. If you have a pre-existing condition you sometimes will be approved but will pay a higher monthly premium, called the Medigap Standard plan, but most of the time people with pre-existing conditions are turned down.
So as you can see, while it is technically possible to switch plans, the best thing is to start off with the right plan so you don’t have to switch. If you are ready to apply call the number above or click here to get an instant Medigap quote and enroll today.