You can change your Medigap plan at any time, but there are certain periods when you have guaranteed issue rights, meaning that insurance companies cannot deny you coverage or charge you more based on your health status. The most common period when you can change Medigap plans without underwriting is during the Medigap Open Enrollment Period, which lasts for 6 months and begins on the first day of the month in which you are both 65 or older and enrolled in Medicare Part B. During this period, you can switch to a different Medigap plan or insurance company without being subject to medical underwriting. It's important to note that if you have a pre-existing condition, you may have to wait up to 6 months for coverage of that condition to begin if you switch to a new Medigap plan outside of your Medigap Open Enrollment Period.
In addition to the Medigap Open Enrollment Period, there are other circumstances that may allow you to change Medigap plans without underwriting. These include:
- If you have a guaranteed issue right, such as losing your current coverage through no fault of your own (e.g., if your Medigap insurance company goes bankrupt)
- If you move out of your current Medigap plan's service area
- If you are enrolled in a Medicare Advantage plan and want to switch back to Original Medicare with a Medigap plan
Outside of these guaranteed issue rights, insurance companies may require medical underwriting and can deny you coverage or charge you more based on your health status if you try to change Medigap plans.
It's important to carefully consider your options and compare different Medigap plans before making a decision. You can contact your State Health Insurance Assistance Program (SHIP) for personalized assistance and guidance in choosing the right Medigap plan for your needs. Remember to always review the terms and conditions of any new Medigap plan you are considering, including the coverage, costs, and any limitations or restrictions.
For more information on changing Medigap plans, you can visit the official Medicare website or contact the Medicare helpline at 1-800-MEDICARE (1-800-633-4227).