There’s no doubt that choosing a Medicare Supplement (“Medigap”) plan is a big decision — but what if your healthcare needs change in the future? Will you be able to move to a different plan? The answer is yes, but there are some things you should consider before making your decision. This Medicare Supplement broker in Northwest Indiana is going to explain all the key things you should know below.

You can switch plans during your initial enrollment.

When you first enroll in Medicare Part B, you have six months to buy any Medicare Supplement plan available in your state. This period is called the “Open Enrollment Period,” and during it, insurance companies must accept your application. They can’t deny you coverage or charge you more because of your health. This is easily the best time to enroll in Medigap because you get the most options and the lowest possible rates with no medical underwriting.

You may be able to change plans after your enrollment period.

You can technically apply to switch to a different Medicare Supplement plan anytime, but things may not be how you expected. Outside of your initial enrollment window, insurance companies can look at your medical history before approving your application or deciding how much to charge you. If you have developed a serious condition, you could have to pay more, and you could even be denied coverage.

If you are confused about whether switching to a different Medicare Supplement plan is the best option for you, consulting with an experienced Medicare Supplement broker in Northwest Indiana is most likely your best choice. They can walk you through your options and help you make the best decision for your situation.

You can switch plans without medical underwriting under guaranteed issue rights.

There are certain situations where you can switch to a different Medicare Supplement plan without going through medical underwriting. These are called “guaranteed issue rights,” and they protect you when your circumstances change. For example, if your insurance company stops selling your plan, you move out of your plan’s service area, or you lose other health coverage through no fault of your own. Under these circumstances, insurance companies must approve your application and can’t charge you more based on your health.

Indiana recently passed a new law (SEA 215) that expands these guaranteed issue rights for people under 65 with disabilities or End-Stage Renal Disease (ESRD). If you had Medicare before January 1, 2025, you only have until June 2025 to enroll in a Medicare Supplement plan. If you get Medicare after January 1, 2025, you will have six months from the start of your coverage to sign up.

If you qualify for one of these special circumstances, switching to a different plan is much easier. An experienced Medicare Supplement broker in Northwest Indiana can check to see whether you are eligible for guaranteed issue rights in your state.

Review your options before switching to a different plan.

Before you decide to switch to a different Medicare Supplement plan, you must consider your health, coverage, and costs.

Your health status: If you have a pre-existing health condition, you could have to pay more and you could even be denied coverage unless you have guaranteed issue rights. The best time to enroll is still during your six-month Open Enrollment Period, when insurance companies must accept you regardless of your health.

Coverage differences: Even though Medigap plans are standardized, and each plan type remains the same no matter where you buy it from, each plan type covers different out-of-pocket costs. For example, Plan G covers more costs than Plan N because it pays for Medicare Part B excess charges, which Plan N does not. Plan N has lower monthly premiums, but you will need to pay small copays for some doctor and emergency room visits.

Switching to a different Medicare Supplement plan is not as straightforward as it might look, but speaking with an experienced Medicare Supplement broker in Northwest Indiana can make things easier.

Looking for a Medicare Supplement Broker in Northwest Indiana?

Are you looking for a knowledgeable Medicare Supplement broker in Northwest Indiana that can walk you through the process of changing your Medigap coverage? If so, you’ve come to the right place — our agents at Senior Care Insurance Services are ready to help. Contact us today to schedule a free consultation with our team.