One of the best times to switch from Medicare Advantage to a Medicare Supplement (Medigap) plan is during the Annual Election Period (AEP). This time runs every year from October 7th through December 15 and if you time it right, your switch to Medigap will be seemless.
Annual Election Period Switching Rules
Medicare’s Annual Election Period, sometimes known as Open Enrollment, is primarily for switching from one Medicare Advantage plan (or Medicare Part D drug plan) to another. It is also a good time to leave Medicare Advantage (MA) and apply for Medigap with a January 1st start date.
Applying for Medigap during AEP
When you apply for Medigap you’ll have to answer medical questions (unless you qualify for Medigap switching special circumstances). Allow time as the approval process can take up to 10 business days. If you plan is approved, you are ready to select a drug plan (Medigap doesn’t cover drugs). If you are not approved, you can always stay on your existing MA plan or switch to a new one. Please note: Some Medigap companies have an easier health review than others so call us at 800-930-7956 to find the best plan for you based on your health.
Applying for Medicare Drug Plans during AEP
Remeber: Do NOT apply for a drug plan until you’re approved for Medigap, because signing up for a drug plan automatically cancels your Medicare Advantage plan. You must do this before Dec 15.
Next step for Switching to Medigap during AEP
If you are ready to switch to Medigap, we suggest you start by giving us a call. We like to think of Senior65.com as Medigap switching experts. We will help you:
- Identify the best Medigap plan based on your coverage needs
- Guide you to which company offers you the best chance of medical approval
- Pinpoint the right drug plan that covers your prescritions
- Walk you though the process so you don’t miss any deadlines.
There is no hidden charge or fee for service so feel free to give us a call at the number above
If you missed AEP and it is after Dec 15th, check out our article “How to switch from Medicare Advantage to Medigap” for other alternatives.