Colorado has issued a Special Enrollment Period for Medigap Plan F members to switch to Medigap Plan G without medical underwriting. This means that for a limited time, you can switch Medigap plans without answering any health questions. This is a one-time only switching period that runs from January 1, 2021 to June 30, 2021.
Why is Colorado’s Medigap special enrollment a big deal?
Since January 2020, newly eligible Medicare members cannot enroll in Medigap Plan F. Those already on Plan F could stay on Plan F for as long as they like.
This rule was established so that, moving forward, seniors now joining Medigap would have to pay the Part B deductible of $226 before their coverage would kick in. By requiring Seniors to pay an amount out-of-pocket first, they hope it will stop the overuse of healthcare.
The unintended consequence of this new law is that Medigap F now cannot have younger, and assumingly, healthier members join the plan. If we fast forward into the future, it is plausible that prices for plan F will increase as the pool of members get older. This is speculation but it is accepted by many in the Medicare world.
The new one-time CO Medigap switching opportunity will allow those who are “stuck” on Plan F to switch to Plan G without medical underwriting.
Switch to Medigap Plan G and Save Instantly
We talked above how switching from Plan F might save money in the long run. However, you almost always can save money immediately by switching now.
Plan F and Plan G are identical in every way but one. Plan F covers the Medicare Part B deductible of $226, whereas Plan G does not. Yes, this means that if you move to Plan G you will be paying the Part B deductible. Medigap Plan G, however, can save you $30 or more each month over Plan F right now. You will save more than enough to pay the deductible should you need to.
Can’t you always switch Medigap?
No! There is no Annual Election Period Open Enrollment switching time for Medigap like there is for Medicare Advantage and Part D.
While technically you are allowed to switch plans at any time, you will have to go through medical underwriting. This means you could be turned down for pre-existing conditions. You may not be approved even if you try to switch plans within your current company. Without this special enrollment period, switching Medigap plans is not guaranteed.
However, there are also a lot of circumstances where you can switch Medicare Insurance without underwriting.
Colorado Medigap Special Enrollment Period Recap
Colorado is offering a one-time special enrollment period that will allow anyone enrolled in Plan F or Plan C to switch to Plan G or D, respectively, without answering any questions.
- Will run from January 1, 2021 to June 30, 2021.
- Applies to Medigap enrollees who already have Plan C or Plan F, and who became eligible for Medicare prior to 2020.
- Allows Plan C enrollees to switch to any available Plan D.
- Allows Plan F enrollees to switch to any available Plan G.
- Allows only one plan change per enrollee.
- Any insurance provider that offers Plan G or D in Colorado must participate in this program.
If you participate in this special election, you cannot switch back to your previous plan without answering medical questions first.
Next Steps for Switching Medigap
If you missed this switching opportunity don’t give up. Visit our Ultimate Guide to Medicare Insurance switching page to learn of your other options or just give us a call at 800-930-7956. There is never a fee for our services and, since Medigap pricing is regulated, no one can sell the same plan for less than we do.
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