Chat with us, powered by LiveChat
(855) 740-2227

Change Your Medicare Supplement Plan

There are many reasons why you may want to change your Medicare Supplement. You could be paying for coverage you don’t need, or, want more. Maybe you need to change insurance companies or switch to a less expensive plan.

Requirements

To change plans you must be within your open enrollment period that provides you with a Guaranteed Issue Right. You can purchase any plan without being denied coverage, or being charged more due to a pre-existing condition. This period lasts for six months, starting when you first join Part B. If you are within your six-month period, you can change without any restrictions. As soon as this period ends, your guaranteed issue right ends. If you have health conditions, plans could cost more, and companies can deny coverage after your open enrollment period.

Exceptions

There are exceptions to the rule, and times when you have a guaranteed issue right to enroll or change plans outside of open enrollment. If your current coverage misleads you or isn’t compliant with the law, you can change plans with no restriction. If the insurance company providing your coverage declares bankruptcy, you can change. If you drop a plan to enroll in Medicare Part C but don’t like it, you have up to a year to switch back to a Medicare Supplement with a guaranteed issue.

Free Look

You have 30 days to decide if you want to keep the coverage. This Free Look period starts when you first get a new plan and ends 30 days later. Do not cancel your old policy until you are certain you want to keep the new plan. You will be responsible for paying both premiums for one month if you choose to use this right.

Older Plans

Plans sold before January 1, 2006, included prescription drug coverage. New plans do not. Many are no longer offered. If you have an older policy and want to change, understand you may not be able to carry these benefits over to the new plan.

 

 

Get a Quote

 

 

 

 

 

 

 

References:

https://www.medicare.gov/supplement-other-insurance/when-can-i-buy-medigap/switching-plans/switch-medigap-.html

https://www.medicare.gov/supplement-other-insurance/when-can-i-buy-medigap/guaranteed-issue-rights-scenarios.html

MUC67-2017-BCBS

Testimonial Suzon was very pleased with Lilly being professional, knowledgeable and great at what she does. S. Lanz, Woodridge
Testimonial Debbie was so polite. She didn’t make me feel incompetent when I didn’t understand something. S. Scheibly, Decatur
Testimonial Kathleen was helpful and provided me with information quickly! M. Greaney, Oak Lawn
Testimonial Brittany was extremely knowledgeable and friendly, couldn’t have been happier! I have already recommended her to a friend Catherine B.
Testimonial Jenna made Medicare seem worthwhile. I had an issue with my plan and Jenna was informative and delightfully helpful. My wife will be ready to convert to Medicare in July and Jenna will guide her to her plan. Thank you. Kevin I.
Testimonial Best service, follow through and options offered. High recommend! Angela B.

Latest News

Read all the news

Avoid Medicare Part D Penalty

Whether or not you take prescription drugs, you may want to consider your options carefully when it comes to joining…
Read more

Medicare Part D Creditable Coverage

As a Medicare-eligible policyholder, you have the right to know whether or not your current drug coverage meets the standard…
Read more

Medicare Advantage Coverage and Enrollment Periods

Medicare Advantage is a cost-saving option for many seniors to cover out-of-pocket expenses associated with Medicare. These plans include many…
Read more

Medicare Supplement Plan G Coverage Details

Most seniors in Illinois choose Medicare Supplement Plan G, due to the low out-of-pocket costs, and coverage for foreign travel….
Read more

Medicare Part D Prescripton Plans

Medicare does not provide coverage for medications. There are two ways to receive prescription coverage, enroll in a Part D…
Read more