Changing Medicare Supplement Plans

When Can You Change Your Medicare Supplement Plan?

If you have Medicare Supplement (Medigap) insurance, you may be wondering when you can change your plan if your costs have gone up or you are unhappy with the insurance company.

In general, you don’t have a right under federal law to switch Medigap policies without being medically underwritten, unless you are within your 6-month open enrollment period or have a guaranteed issue right. That does not mean you can’t switch your policy, just know you will have to answer some medical questions to be approved for your new Medigap policy.

In Texas, you can changes plans anytime you want as long as your health allows qualifying for a new plan.

What if I switch and I don’t like my new Medigap policy?

You have the right to change your mind and cancel your new Medigap policy within the first 30 days if you are not satisfied with it. This right is called your free-look period. The 30 day free-look period starts when you get your new Medigap policy.

Do not cancel your first Medigap policy until you have decided to keep the new policy.

In order to take advantage of this suggestion, you will need to state on your new application that you promise to cancel your first Medigap policy. Once you are sure you are happy with your new policy, you can call your current insurance company and ask to have your coverage end. The insurance company will tell you how to submit a request to cancel your policy.

Now that you know a little more about changing Medicare Supplement plans, you may want to see what your cost options are and see if you can qualify for a new plan that will fit your needs and budget.

The great news is we can help you with this at no cost. We can help you find the right Medicare Supplement Plan for your health needs and your budget. Call us at (512) 900-3008 or contact us via email, if you have any questions.

512-900-3008
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9600 Great Hills Trail Suite 120E
Austin, TX 78759
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