How Can You Switch Medigap Plans?

The Medicare Supplement plan, otherwise known as Medigap covers additional benefits that the original Medicare Plan doesn’t provide such as coinsurance, co-payments, and deductibles. However, we often find people wanting to switch Medigap plans when they realize that their current plan is no longer a good fit for their changing health and financial needs.

Some of the common reasons for this switch can be because-

• You aren’t satisfied with your present Medicare Supplement insurance company.
• You are paying for the benefits you don’t require anymore.
• Your premium costs are heavy on your pocket and you want an insurance plan with a lower premium cost.
• Your want more benefits than you required at the time of enrollment

Important Note: The timing and circumstances for your plan to switch can impact the premiums you pay, the coverage you receive, and the plan provided to you by your Medicare Supplement insurance company.

Can You Switch Medigap Plans?

This bring us to the question of the hour, can we switch our Medigap Plans without any hassle? In most cases, you may not have the right to change Medicare Supplement plans under the Federal law, however exceptions are considered under one of these conditions:

• You are qualified under a specific circumstance or guaranteed issue rights
• Your Medicare Supplement insurance plan in Philadelphia is within the 6-month Medicare Supplement open enrollment period

Note:  If you’re considering a plan switch, you don’t have to wait for a certain period of time after buying your first Medicare Supplement insurance plan in Philadelphia