Choosing a Medicare Supplement (Medigap) plan can feel confusing. There are so many letters, and they all offer different coverage. Most people just hope they’ve made the right choice by the end of it. But what if you did not? What if the plan you chose is not what you thought it was?

Well, you are not stuck with the same plan forever. You can change your plan later, but it may not always be simple. There are rules about when/how you can change your plan, and they can be very confusing.

Below, this Supplemental insurance agency in Kouts, Indiana is going to explain what happens if you want to change your Medigap plan.

Can you switch to a new Medigap plan after you have already bought one?

If you are still within the first six months of signing up for Medicare, you are in your Medigap Open Enrollment Period. During this time, you can buy any Medigap plan you want, and insurance companies must accept you without asking any questions. This is the best time to change your plan.

After that six-month window closes, most insurance companies can require you to answer medical questions before letting you switch plans. This process is called “medical underwriting.” If your health has changed or you have certain medical conditions, the insurance company could charge you more or even refuse to offer you a policy.

What if you picked the wrong Medigap plan?

Most people pick a Medigap plan based on price or a recommendation. Many of these people later realize that the plan is not meeting their needs.

For example, if you are traveling more now, you will need a plan that covers foreign emergency care. Your health may have also changed, and you may now be paying more out of pocket than you expected. Or maybe your plan’s monthly cost has increased and you’re looking for something more affordable.

Switching is possible. It’s just important to know when and how to do it.

There are certain times when you have guaranteed issue rights.  These give you the freedom to buy a new Medigap plan without answering any health questions. For example, if you tried Medicare Advantage but want to go back to Original Medicare within the first year or if your insurance company stops offering your current plan.

Outside of those situations, though, the insurance company can check your medical history and decide if it should approve your application.

Working with your local Supplemental insurance agency in Kouts, Indiana is the best way to evaluate your options. They can guide you through the process of switching your Medigap plan without risking your coverage.

What mistakes should you avoid when switching Medigap plans?

Switching to a different Medigap plan can work but only if you do it properly. The biggest mistake people make is canceling their current plan before they are approved for a new one. If you cancel first and then get denied for the new plan, you could be left with no supplemental coverage at all.

A safer approach is to first apply for the new plan you want. Once you are approved, you can cancel the old plan. This is one way that you will never have a gap in coverage.

Your local Supplemental insurance agency in Kouts, Indiana can help you with the timing and paperwork to make the transition smooth.

Can you try a new Medigap plan first to see if you like it?

When you buy a new Medigap plan, you get a 30-day “free look” period. You can test out the new plan for a month and see how it works for you. During this time, you can keep your old plan active just in case you change your mind.

You should know that you will have to pay premiums for both plans during the 30 days. But this can be worth it because this step removes all the risk. If you don’t like the new plan, you can go back to the one you had before.

Looking for a Supplemental insurance agency in Kouts, Indiana?

If you aren’t sure about your current Medigap plan, and if you’re thinking about switching, now is the time to reach out to a Supplemental insurance agency in Kouts, Indiana — like Senior Care Insurance Services (SCIS). Our licensed agents can explain your options and when you can switch. Contact us today to get started.