Switching Medigap plans can be confusing, especially with so many options available. Making the wrong decision can lead to gaps in your coverage or higher costs. To help you avoid common pitfalls, Senior65.com compiled a list of the top 8 mistakes to avoid when switching Medigap plans.
Mistake 1: Trying to Switch Medigap During AEP Open Enrollment
A lot of people get confused about the Annual Enrollment Period (AEP) (which most people call Open Enrollment) when it comes to Medigap. AEP runs from Oct 15-Dec 7 each year and lets you change your Medicare Advantage or Part D plans, but it’s not for Medigap switching. Medigap does not have an annual switching period in most states. You can switch Medigap during this time but you will usually have to go through Medical Underwriting (see #4 below).
Medigap has a lot of weird rules. If you are new to Medigap we recommend our complete guide, ‘Medigap Overview: Learn how Medicare Supplement Coverage Works‘.
Mistake 2: Not Being Aware of Your State Medigap Switching Options
Because there is no annual Medigap switching period (see Mistake #1), a few states have created state-specific laws to making switching easier. The most famous of them is called the Birthday rule which allows you to switch plans without underwriting around your birthday. There are over a dozen states that have this rule that you can read in detail: Medigap Birthday Rule
Does your state have a special switching rule? Senior65.com has made it simple by creating a specific up-to-date article for Medigap each state.
Curious about Medigap costs in your state? Check prices here!
Mistake 3: Not Factoring in Discounts When Switching Medigap
While the monthly premium is an important factor, it shouldn’t be the only one. Before enrolling in a Medigap plan, it’s a good idea to explore available discounts, as they vary by insurer and state. The same goes if you’re thinking about switching plans. Some common discounts include the Medigap Household Discount, Medigap Roommate Discount, annual payment discount, electronic payment discount, and even non-smoker rates. For a more in-depth look, check out our article on ‘Discounts and Special Offers‘.
Need help finding the right plan ? Contact Senior65.com at 800-930-7956 or drop a comment below. We never charge a fee for quotes or plan enrollments.
Mistake 4: Not Reviewing Medigap Underwriting Guidelines Before Switching
Before you switch Medigap plans, you’ll want to get familiar with the Medigap rules in your state. While a few states have special Medigap switching rules, most do not. This means when you switch—even within the same insurance company—you’ll likely have to answer health questions. Based on your responses, the insurer could deny your application. Before you apply for a plan, view our dedicated page on Medigap Underwriting Guidelines to see if your pre-existing conditions would keep you from being approved.
Mistake 5: Getting Charged for Both Your Old Plan AND Your New Plan
Here’s a sneaky little thing that can happen when switching Medigap plans. Enrolling in a new Medigap plan WILL NOT automatically cancel your old Medigap plan. You must call your old plan and cancel coverage or you will be billed by both plans.
Tip: If you are worried about being before your new Gap policy is approved, you can turn off autopay on your old plan.
Mistake 6: Canceling Your Old Medigap Before Your New Plan is Approved
It’s listed as Mistake #6 but it should be #1 because of the consequences. Don’t gamble by canceling your old Medigap plan before you’re approved for the new one. Approval for a new Medsupp plan is not always guaranteed, and you could end up without coverage if you get it wrong. (Source)
Note: If you’ve been denied on Medigap, don’t panic—you can reapply with another carrier who might approve you. Call Senior65.com at 800-930-7956, and we’ll help you understand your options since each insurer handles underwriting differently.
Get a Medigap Quote Enroll in Medigap
Mistake 7: Not Reviewing our Free Ultimate Guide to Medicare Switching
Medicare rules are confusing and seemingly arbitrary. We have organized ever single way to switch Medicare insurance coverage on one page which we call Medicare Insurance Switching: Ultimate Guide.
You don’t have to pay for this guide or give us your contact info before you download it. Just click and read. It will tell you of every Medicare switching rule in every state. We are proud of this document and we hope it will help you on this Medigap switching journey.
Mistake 8: Not Getting Help From Senior65.com
We saved the best for last, though it’s probably the most important thing to know. Senior65.com has been helping people switch Medigap for years and we are good at it. Read our reviews! Yes, we are real people here! Our help is completely free. We get commissions directly from the insurance companies, so you don’t pay us a dime. We hope after you read this article, you want to work with us. We think it’s a win-win relationship. You can call us at 800-930-7956 or apply to switch Medigap online here and we will be assigned as your agent.