When choosing your Medicare Supplement (or “Medigap”) plan, many seniors wonder whether it’s possible to test a plan before fully committing to it? You do have the option to try a Medigap plan for a short time and see if it meets your expectations. This comes in the form of a 30-day free look period, where you can test the plan and then decide if you want to keep it. If you are not happy with it, you can cancel it very easily.

Below, this Medicare Supplement agency in Boone Grove, Indiana is going to explain how this free look period works.

What is a free look period for Medigap plans?

The “free look period” is a federal provision that gives Medicare recipients the option to test a new Medigap plan for 30 days while still keeping their current plan. In other words, you get a full month to compare the benefits, coverage details, and costs of the new plan side by side with what you already have. It can be a great way to see if the new plan gives you better value or if it is just a different name with the same coverage.

How does the free look period benefit Medicare recipients?

The free look period removes the fear of making a wrong decision when switching to a new Medigap plan. You get a whole month to carefully review the terms, check the network of doctors and hospitals, and even use the benefits to see how the coverage works for you. If you decide it is not for you, you can cancel the plan anytime within the 30-day period and get a full refund.

What do you need to keep in mind before switching to a new Medigap plan?

Although the free look period gives you the flexibility to try a new plan without locking yourself into anything, there are some things you need to keep in mind before you switch. First and foremost, it’s important to remember that you’ll need to pay premiums for both your current plan and the new one during the 30-day period. You are going to want to budget for that temporary cost.

Also, if you are switching your plan outside of your Medigap Open Enrollment Period, you could have to go through medical underwriting. This is when the insurance company can check your medical records before approving your application. Depending on what they find in your records, they could charge higher premiums or even deny your coverage, so it is something to be aware of when planning a change.

We would also advise you to keep your current plan active until you are completely sure you want to keep the new one. If you cancel your old plan too soon and then realize that the new one is not working for you, you may not have any coverage at all.

If you want to avoid making any mistakes, you should consider speaking with an experienced Medicare Supplement agency in Boone Grove, Indiana. They will make sure you fully understand the fine print before making your final decision.

Each Medigap plan offers unique coverage.

All Medigap plans offer a very specific set of benefits. Some plans cover more medical expenses and reduce the amount you pay out of pocket for doctor visits, hospital stays, and other healthcare services. Other plans are to keep your monthly costs as low as possible while still offering essential benefits.

The best plan for you depends on your personal health needs and budget. If you visit doctors frequently or have high medical expenses, a plan with more coverage could save you money over time. But if you are in relatively good health and want basic coverage to supplement your Original Medicare, a lower-cost plan could be the better choice.

An experienced Medicare Supplement agency in Boone Grove, Indiana can help you compare your options and find the best plan for you. Because they have access to plans from different insurance companies, they can give you unbiased advice to make sure you are getting the best deal for your specific situation.

Looking for a Medicare Supplement Agency in Boone Grove, Indiana?

Are you looking for an experienced Medicare Supplement agency in Boone Grove, Indiana that can help you understand your Medigap options? If so, look no further than our agents at Senior Care Insurance Services. Contact us today to schedule an appointment with our agents.