Am I stuck with my current Medicare Supplement?
That’s a question we hear a lot. The answer is: no, you are never stuck in a Medicare Supplement plan. You always have options.
The rules that apply to Medicare Advantage and Medicare Part D enrollments and plan changes do not apply to Medicare Supplements.
Medicare Supplements are month-to-month contracts. You are free to change your Medicare Supplement anytime during the year.
Confused about your Medicare coverage options? Watch our free video: How to Find the Best Medicare Coverage Without Paying More Than You Need To…
How do I switch Medicare Supplements?
Most Medicare Supplement companies require you to answer health questions and provide a list of your medications when you apply, unless you are in your first six months on Medicare Part B or have a guaranteed issue right. Your application then goes through underwriting, and you will either be approved or declined.
Now you might be thinking, “Health insurance companies can’t decline people anymore, can they?” Well, that legislation doesn’t apply here. Medicare Supplement companies are still allowed to decline applicants based on health conditions.
The health questions are similar from one Medicare Supplement company to another but not identical. Even if you are declined by one company, a different Medicare Supplement company may accept you.
Guaranteed Issue Medicare Supplement Companies
If none of the Medicare Supplement companies that require health questions will accept you, there may be a guaranteed issue company in your area. A guaranteed issue Medicare Supplement company accepts everyone who is 65 or older and has Medicare Parts A and B, regardless of health conditions.
Other Options
If none of those options are available to you, there will always be another Annual Enrollment Period, from October 15 through December 7 every year, to look at switching to a Medicare Advantage plan instead of a Medicare Supplement plan.
Everyone’s situation and plan recommendation is unique. Have questions? Give us a call or watch our free online video to learn how to find the best Medicare coverage for you. . We can go through the options that are available to you and help you find a plan that best fits your needs.
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