When Can You Change Your Medicare Supplement Plan? Insights from a Medicare Supplement Broker in Schererville, Indiana

If you have recently become eligible for Medicare or have been enrolled for some time, it’s important to know when and how you can switch your Medicare Supplement plan. This will help you maximize your benefits and fully cover your healthcare needs.

Are you looking for some information on this topic? This Medicare Supplement broker in Schererville, Indiana is going to provide an overview of the process below.

When can you change your Medicare Supplement Plan?

You can change your Medicare Supplement plan at any time during the year, but there are specific periods when doing so could give you more benefits. During these periods, you can find more options or lower costs for the same plans.

These are the two important periods when changing your plan can be smart:

Your Medigap Open Enrollment Period: This is a one-time opportunity that lasts for six months. It starts the month you turn 65 and are enrolled in Medicare Part B. During your Medigap Open Enrollment Period, you will not have to undergo medical underwriting. So, no matter your health, your Medicare Supplement broker in Schererville, Indiana can help you choose the right plan without worrying about it costing more.

Medigap “Birthday Rule” Period: Not all states have the Medigap “Birthday Rule” Period, but if you are lucky enough to live in one that does, you can switch to a different Medigap plan around your birthday without medical underwriting.

Why would you want to change your Medicare Supplement Plan?

There are several reasons why you might want to change your Medicare Supplement plan:

  • To save money on premiums: Let’s say you find a plan that offers similar benefits to your plan but at a lower cost. Switching to this plan would mean you keep the same benefits but pay less every month.
  • To increase benefits coverage: If your current plan does not cover all your healthcare needs, you might want to switch to one that gives you more coverage.
  • To decrease benefits coverage: You could be paying for coverage that you never use. And in this case, you could switch to a simpler plan with fewer benefits that still meets your needs and save money on premiums.
  • To switch insurance companies: If you are unhappy with your current insurance company’s service, you could get a plan from another company with better customer service.

How do you change Medicare Supplement Plans?

First and foremost, it’s important to take some time to understand the different plans and insurance companies in your area. You’ll want to compare the benefits and costs of different plans and how other customers feel about the insurance company’s service.

After you have picked a new plan, you will need to apply. This process might involve a health questionnaire and possibly a medical check-up if you are not changing your plan during a period that grants guaranteed issue rights.

Once your new Medicare Supplement plan starts, you will need to cancel your old plan. We recommend keeping your old plan active for another 30 days to use the “free look” period. This period allows you to compare the new plan with the old one so you can be sure you like your new plan before you completely let go of the old one.

To make this process smoother and ensure you make the best choice for your healthcare needs, you can always get in touch with your local Medicare Supplement broker in Schererville, Indiana for assistance.

Looking for a Medicare Supplement Broker in Schererville, Indiana?

If you are unhappy with your current health Medicare Supplement coverage, you shouldn’t wait too long to review or change your plan. Whether you are in your initial enrollment period, eligible for a birthday rule period, or just wondering if there is a better option out there, there is no harm in checking out what other plans are available to you.

Are you ready to meet with a trusted Medicare Supplement broker in Schererville, Indiana that can help you consider better healthcare alternatives? If so, our agents at Senior Care Insurance Services (SCIS) are just a call away. Contact us today to discuss your options.