Ed MacConnell

Switching Medigap policies

5 reasons you may want to switch Medigap policies

  1. You’re paying for benefits you don’t need.
  2. You need more benefits.
  3. You want to change your insurance company.
  4. You want a policy that costs less.

Can I switch policies?

In most cases, you will not have a right under federal law to switch Medigap policies, unless one of these applies:

  • You’re eligible under a specific circumstance or guaranteed issue rights
  • You’re within your 6-month Medigap open enrollment period

You don’t have to wait a certain length of time after buying your first Medigap policy before you can switch to a different Medigap policy.

Note

As of January 1, 2020, Medigap plans sold to new people with Medicare aren’t allowed to cover the Part B deductible. Because of this, Plans C and F are not available to people new to Medicare starting on January 1, 2020. If you already have either of these 2 plans (or the high deductible version of Plan F) or are covered by one of these plans before January 1, 2020, you’ll be able to keep your plan. If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to buy one of these plans.

How to switch Medigap policies

Call the new insurance company ( or your insurance broker, Total Benefit Solutions, Inc) and arrange to apply for your new Medigap policy. If your application is accepted, call your current insurance company, and ask for your coverage to end. The insurance company can tell you how to submit a request to end your coverage.

Medigap free-look period

You have 30 days to decide if you want to keep the new Medigap policy. This is called your “free look period.” The 30-day free look period starts when you get your new Medigap policy. You’ll need to pay both premiums for one month. Don’t cancel your first Medigap policy until you’ve decided to keep the second Medigap policy. On the application for the new Medigap policy, you’ll have to promise that you’ll cancel your first policy.

Confused? Contact your Total Benefit Solutions, Inc health insurance experts at (215)355-2121 and we will help you through the application process and answer all of your questions!