Having Medicare supplement plans, the Medigap insurance, do you now wish to consider changing the plan? In case you are convinced with the existing Medigap insurance plan, the best is to stay with the plan until the insurance company and coverage fulfils your needs.
However, if you are dejected with the costs or coverage offered by Medicare supplement plans, you may switch to a new insurance policy. For instance, you may switch for reasons such as:
- Paying for benefits not or never needed.
- Unsatisfied with the insurance company
- Expect more benefits than the time you purchased the policy
- Want a policy less expensive
Changing to another Medigap policy is also possible, if you qualify for guaranteed issue right on these reasons:
- Losing coverage as your insurance company is out of business or bankrupt
- You wish to cancel the policy as the company misled you
- You want to cancel the policy as it is a fraud company
Can I switch?
Generally, switching Medicare supplement plans, the Medigap policies under federal law is not possible, unless you are in the open enrolment 6 month period or have as mentioned above about the guaranteed issue right.
Switching policy is totally impossible is not the truth. If your state or the insurance company is ready to sell Medigap policy, it is possible to change policies. The only thing is you should not have guaranteed issue or it should not be beyond the open enrolment period, though there will be a need for you to pay more or answer some questions before taking the new Medigap policy.
Click here to learn more www.Medisupps.com/aetna-medicare-supplement-plans-2018.
After switching, if I dislike the new Medigap policy?
Switching or changing your mind and deciding to terminate or evoke the new Medicare supplement plans or Medigap policy can be done within a period of 30 days from the day of buying, if not happy with the policy. This period is referred to as free look period. This begins from the day you purchase the new Medigap policy.
Even if you wish to switch, keep the Medigap first policy unless you confirm decide having the new policy. Of course, keeping both means you have to pay premiums for both, but just for a month and it will be useful. This is because if you dislike the new policy, you can return it in the free-look period, within 30 days and can be safe with your old insurance plan.