Is It Possible To Avoid Medical Underwriting Outside Of The Madigap Open Enrollment Period
The short answer is YES but you must be eligible under one of the following qualifiers:
- Your state has a special enrollment time such as the birthday rule or the anniversary rule.
- Your insurance company went bankrupt or canceled your policy through no fault of your own.
- Your insurance committed fraud and you are canceling the policy.
- Your company misleads you and you decided to leave.
- You purchased a Medicare Advantage plan for the first time but decided to cancel the Medicare Advantage policy and return to Original Medicare with a Medicare Supplement plan.
- Youve purchased a Medicare Select plan but then moved out of the service and network area. You can switch to a standardized Medicare Supplement plan with the same or fewer basic benefits that you had in your SELECT plan.
- You enrolled in a Medicare Supplement plan for less than six months. The insurance company may offer to sell you a new policy with the same basic benefits but with a waiting period of up to six months before the new plan will cover any pre-existing conditions.
If you are looking for advice on how to change Medicare plans, contact the Medicare Solutions Team so you dont chance being uprated or declined.
Which Companies Sell Medicare Supplement Insurance In Indiana
Companies must be approved by IDOI in order to sell Medicare Supplement policies. All of the companies listed below have been approved by the state. The plans are labeled with a letter, A through J. Not all companies sell all ten plans. Following each company name and phone number, we have listed the Medicare Supplement plans sold by that company based on the following categories:
- Medicare Supplements for Persons 65 and Older
- Medicare Supplements for Persons Under 65 and Disabled
- Medicare SELECT Insurance Companies
The Medicare Supplement Free Look Period
When you switch Medicare Supplement Insurance plans, you generally are allowed 30 days to decide to keep it or not. This 30-day free look period starts when your new Medicare Supplement plan takes effect. To qualify, you need to pay the premiums for both your new plan and your old plan for one month.
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When Can I Switch From A Medicare Supplement To A Medicare Advantage Plan
Yes, you can switch from your Medigap plan to a Medicare Advantage plan between October 15 and December 7, which is the annual enrollment period.
Although a Medicare Advantage plan will generally provide prescription drug coverage, and a little dental, hearing, and vision coverage, it may not be the best fit for your circumstances and budget.
If you want to change from Medicare Advantage to a Medigap plan you might not be able to switch back to your Medicare supplement plan once you have changed to a Medicare Advantage plan, so make certain you know how to change medicare supplement plans.
In any case, speak with our Medicare Solutions Team to get the advice you need and a verified list of the pros and cons of making a change from Medigap to Medicare Advantage.
Should You Change Your Medigap Policy
You may want to consider changing your plan or insurance company to increase your benefits or lower your monthly costs.
If you are happy with your current policy, there is no reason to change plans. But you may be interested in changing policies under certain circumstances:
- Better priceEvery September, insurance companies must send out a Medicare Annual Notice of Change letter to Medicare beneficiaries. This letter tells you of any changes to your rates. If your rates go up, you may want to consider looking for a new policy. You can shop around for a similar plan offered by the same company or a different company for a lower premium.
- More coverageIf you decide you need more coverage, you can switch to a different plan letter to get more benefits.
- Less CoverageLikewise, if you dont need or want to keep paying for benefits you dont use, you might consider switching to a more basic plan if it offers a lower premium.
- Different ProviderIf you are unhappy with your insurance company for any reason, you can purchase a plan from a different insurance underwriter.
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The Open Enrollment Period: October 15december 7
This time period is the Open Enrollment Period for Medicare.
During this time, a person can change from Medicare Advantage to traditional Medicare and vice versa. They can also switch to a different Medicare Advantage plan.
A person can also join a Medicare Part D plan at this time to continue receiving drug coverage.
Services Medicare Doesnt Cover
- Most long-term care. Medicare only pays for medically necessary care provided in a nursing home.
- Custodial care, if its the only kind of care you need. Custodial care can include help with walking, getting in and out of bed, dressing, bathing, toileting, shopping, eating, and taking medicine.
- More than 100 days of skilled nursing home care during a benefit period following a hospital stay. The Medicare Part A benefit period begins the first day you receive a Medicare-covered service and ends when you have been out of the hospital or a skilled nursing home for 60 days in a row.
- Homemaker services.
- Most dental care and dentures.
- Health care while traveling outside the United States, except under limited circumstances.
- Cosmetic surgery and routine foot care.
- Routine eye care, eyeglasses , and hearing aids.
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I Missed My Enrollment Period Now What
If you miss this opportunity, however, you can purchase a Medigap plan if you qualify for a guaranteed issue right. Guaranteed issue rights are extenuating circumstances that will allow you to purchase a Medigap plan without underwriting.
An example of a guaranteed issue right would be if you were already insured through an employer or group insurance during your IEP, and no longer have that insurance. You have 63 days following the loss of your alternate insurance to purchase a Medigap plan.
Another example would be if you enrolled in Medicare Advantage during your IEP. You have 12 months after your enrollment in Medicare Advantage to disenroll and switch to a Medigap plan.
You Have An Older Medigap Policy Thats No Longer Sold
You may wish to reconsider switching plans if this is your sole reason for changing plans. You dont have to change plans just because the one you have is no longer offered.
For example, none of the 10 Medigap plans currently offered includes coverage for prescription drugs. If your Medigap plan does, then you may wish to hang on to it.
There are other reasons you may want to change plans, but youre generally allowed to keep a discontinued Medigap policy, complete with its original benefits intact. Keep in mind that if you enrolled in your Medigap policy before 1992, your plan may not be guaranteed renewable and may cost more than the standardized plans currently available. If your Medigap insurance company decides not to renew your policy, youll have a guaranteed-issue right to enroll in a different Medigap plan.
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First What Is A Medicare Supplement Plan
Those who are eligible for Medicare often purchase Medicare Supplement plans to cover the costs that Original Medicare doesnt. A Medicare Supplement plan, sometimes called Medigap insurance, fills the gaps that exist in Original Medicare.
Medicare Supplement plans are sold by private insurance companies. They can help pay for things like copayments, coinsurance, and deductibles. This makes sense if youre on a budget, and you dont want to be surprised by medical bills that you cant afford.
See The Situations Below On Switching Medigap Policies
- I have an older Medigap policy.
-
If you have an older Medigap policy, you don’t have to switch.
If you buy a new Medigap policy, you have to give up your old policy . Once you cancel the policy, you can’t get it back, and it can no longer be sold because it isn’t a standardized policy.
If you bought your policy before 2010, it may offer coverage that isn’t available in a newer policy. If you bought your policy before 1992, your policy:
- Might not be a guaranteed renewable policy
- May have a bigger premium increase than newer, standardized Medigap policies currently being sold
- I’ve had my old Medigap policy for less than 6 months & have a pre-existing condition.
-
The Medigap insurance company may be able to make you wait up to 6 months for coverage of pre-existing conditions. The number of months you’ve had your current Medigap policy must be subtracted from the time you must wait before your new Medigap policy covers your pre-existing condition.
- I’ve had my old Medigap policy for 6 months or more and it had the same benefits as my new policy.
-
The new insurance company can’t exclude your
pre-existing condition
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If You Already Have Medicare Supplement Insurance
If you’re already covered by a Medigap policy, you can apply for a different policy at any time. There’s no required waiting period, and you don’t have to wait until open enrollment to apply for new coverage. However, there’s no guarantee that you’ll get the results you want.
When you switch to a different policy, you may have to answer health questions. Based on your answers, it’s possible that another insurer will decline your application or charge higher premiums.
How Can You Switch Medigap Policies
Changing Medigap policies is more complicated than it was to switch insurance plans in the days before you entered the Medicare world. Except in a handful of states, there arent annual open enrollment periods for making the switch, and the restrictions are many.
Many people are confused by this because there is a period in fall each year when you can change aspects of your coverage, such as Medicare Part D drug plans. But things work differently with Medigap policies. Heres how to go about it.
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Canceling Your Medicare Supplement Insurance Plan And Getting A New One
You may want to cancel your Medicare Supplement insurance plan because you want to switch to a different plan. You can cancel the plan anytime as long as you notify your health insurance company in writing.
However, in most cases, under federal law you donât have the right to switch Medicare Supplement insurance plans unless you have guaranteed-issue rights to buy a plan, either because youâre in the 6-month window of your Medicare Supplement Open Enrollment Period, or for a different reason. The Medicare Supplement Open Enrollment Period begins on the first day of the month in which youâre both age 65 or older and enrolled in Medicare Part B.
During your Medicare Supplement OEP, an insurance company canât reject your application for a plan, or charge you more based on your health history. However, in some cases you might face a waiting period before plan benefits begin. During your Medicare Supplement Open Enrollment Period you may be able to buy a plan, change your mind, cancel that plan, and buy another one. You could begin research about Medicare Supplement insurance plans before your Open Enrollment Period begins so that you are prepared to make a good choice during this time window.
Can I Change Supplement Companies
You can change your Medicare Supplement company at any time to get a lower premium. Many carriers offer a rate lock for the first year of coverage, making this another advantage of switching Medicare Supplement companies. During this rate lock period, you don’t need to worry about increases to your premium.
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Basics Of Medicare Supplement Policies
Before jumping into how to change your Medicare Supplement policies, lets go through the basics.
Medicare Supplements cover the costs not covered by Original Medicare Part A & Part B. For a refresher, remember Part A covers hospitalization and Part B is essentially health coverage for doctors and specialist visits. Each part has standard deductibles and copays you can get stuck paying if you dont have a way to cover those costs.
Medicare Supplements are not Medicare. They pick up the out-of-pocket expenses that Medicare does not cover. Supplements otherwise known as Medigap policies are sold by private insurance but regulated by the federal government.
Regardless of the company you choose, the coverages will be the same. Rates and availability will vary by company. Many companies will also add extra benefits to the products to distinguish themselves from competitors.
There are 10 Medicare Supplement plans on the market in every state but 4. Following are the basic plans most customers choose:
Plan A
Plan A is the most basic plan you can purchase. All other plans build off of the coverage offered by Plan A.
Plan A covers Part A Medicare co-insurance, including an extra 365 days of hospital costs.Part B 20% co-insurance is covered, along with three pints of blood and Part A hospice care
Plan B
Plan B is identical to A except it covers the Part A deductible, which is $1,484 in 2021.
Plan C
Plan D
Plan F
Plan G
Plan N
Getting The Same Level Of Coverage
When you get approved for a new policy with the same benefits as your current policy, you may get favorable treatment when it comes to preexisting conditions. If you’ve had your policy for at least six months, the new insurer cannot put a waiting period on coverage for preexisting conditions, according to Medicare.gov. If your current policy is less than six months old, you may still have to wait, but you may get credit for the months you’ve had your policy.
Example: Say you’ve had a Medigap policy for four months. You get approved for a new policy from a different insurance company with the same benefits, and you have a preexisting condition. The new insurer has a six-month waiting period on that condition, but they must subtract your four months of coverage, resulting in a waiting period of only two months for full coverage.
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You Can Change Medigap Plans Anytime
My name is Russell Noga with Medisupps.com, and in this article, Im going to cover when you can change plans, why you absolutely should try to change, as well as some other enrollment periods and deadlines that you absolutely need to know about.
So if you did in fact get knocked on your butt with a rate increase letter, Im sorry here that!
One thing we do here at Medisupps.com has contacted you before you even get your rate increase.
Were already shopping the rates so we can have it offered to pass and make sure you dont end up overpaying on your Medicare supplement insurance.
But lets talk about the deadline for changing Medicare supplement plans if you already got one.
The deadline is
None! There is no deadline!
With Medicare supplement insurance, you can change plans anytime during the year. Thats great news.
So if you did get a rate increase, simply click the banner below to get rates online to see how much you can save.
Or you can call us at 1-888-891-0229 which is even faster and easier, and we can show you some rates that were not allowed to display online.
What Is The Deadline For Changing Medicare Plans
With people being able to change their plans at any time, there arent any deadlines on when they must switch by, but there are some restrictions.
One restriction is that changing medical supplement plans doesnt cover people who may have guaranteed issues again.
This impacts people with pre-existing conditions, which could see the companies deny a person coverage.
People should be careful when changing medical insurance plans to avoid a switchover gap, which could leave them uncovered for a brief period
The general rule of thumb is ensuring that you have an alternative plan which has started a couple of days before your previous plan officially expires.
This prevents any gaps in coverage and guards against random instances of misfortune which really can happen at any minute of any day.
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Why Would You Want To Change Your Medicare Supplement Plan
You might want to join a Medicare Advantage plan.
Medicare Advantage plans are popular and offered by private insurance companies that contract with Medicare.
They provide both your Part A and Part B benefits. Since most Advantage plans offer prescription drug coverage, they can help you contain your medication costs.
However, Medicare Advantage plans cant work with Medicare Supplement plans. So if you want a Medicare Advantage plan, you need to cancel your Medicare Supplement plan.
You have an older type of Medicare Supplement plan, and you want a newer one.
Perhaps youre paying for benefits that you no longer need or you want more benefits than what your older Medigap policy provides. Or, you may want a policy that costs less or you simply want to change insurance companies.
Youve had your Medicare Supplement policy for more than six months and you have pre-existing conditions.
In this case, the insurance company cant write pre-existing conditions into your new policy, nor can they include wait times, elimination periods, or probationary periods in your new Medicare Supplement insurance plan.
Youre moving and wont be in the same state.
You will be able to keep your current Medicare Supplement policy no matter where you live if you still have Original Medicare. But, if you want to switch to a new Medicare Supplement plan, check with either your new insurance company or your current one to see if theyll provide you a different policy when you move out of state.
