Changing Medigap plans 2018

If you have been on one of the many Medigap insurance plans for at least 2 years it is highly likely that you have gotten at least one (or possibly more than one) premium rate increase.  These plans are designed to go up on their rates, typically once per year but perhaps more often. Knowing why rate increases occur, and how to react to the situation can help you save as much money as possible throughout the years. and Changing Medigap Plans in 2018 is easier than you might think.

The Best Time to Change Plans

Contrary to popular belief, Medicare Supplement plans can be changed anytime throughout the year. The annual enrollment period does not apply to them. During this period you may switch your drug plan, or you may disenroll from a Medicare Advantage plan and return to Original Medicare and enroll in a Medigap plan.

That being said, the best time to change your supplement insurance is anytime you get a rate increase and you and your agent find that you can save a decent amount of money by switching. It might not be worth it to switch if you get an increase of say, $5-10 per month. Or maybe that $10 per month can help pay your light bill. It’s up to you as to the amount that makes it worth it to you to switch, however the biggest mistake you could make is to “set it and forget it” and never check your rates when you get an increase.

 

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Got Agent?

Another mistake people make is to not use an experienced, independent agent to help them. Many people think they can simply go it alone, but changing Medigap Plans in 2018 requires the use of an experienced agent such as us. Then you can choose one and be done. Using an expert to help you cost you nothing extra, in fact if you sign up direct with an insurance carrier you will pay the exact same premium. There is no extra cost that you must pay an agent, therefore it is extremely wise to take advantage of their services. We offer FREE, no-obligation consultations as well as online information and quotes to help you get started. Most people say the first phone call alone is very much well worth it. Save time and energy and allow us to help.

How To Change Plans

If you already have a supplement the process is actually very easy to change plans. The most important thing to remember is to never cancel your existing policy until the new one is issued. Applying for a new policy simply includes filling out an application and answering the medical questions listed by the company you’re applying for. As mentioned you may do this anytime throughout the year as Medigap plans in 2018 are month-to-month policies. They are also guaranteed renewable which means as long as you pay your monthly premiums they may never be cancelled based on your own health claims.

Steps to Remember

As mentioned having a Medicare supplement policy is great coverage to help pay for most or all of your medical bills. Some key points to remember are:

  • You can change your plan at any time, there is no enrollment period for Medicare Supplements
  • Using an independent agent allows you to see the rates from all the top companies and pay the least amount possible
  • When you do get an increase have your agent shop the top companies and their rates again, and if you see a lower premium decide if it is worth it to move depending on the amount
  • Don’t be afraid to change plans! Because all the coverage is the same you could end up paying substantially more than you should for your coverage. You owe it to yourself to pay the least amount possible

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