If you are thinking about switching Medigap policies because you don't think that your current Medigap plan is serving you as well as you would like, you might not know the best way to go about researching additional plans and finding the best plan for your needs. Here are some tips for switching Medigap policies so that the process is as easy as possible for you and so that you are not lacking coverage for any length of time.
1. Watch for the Open Enrollment Period
The first thing that you will need to do is time your switch during the Medigap open-enrollment period. The reason for this is that during this period, insurers are not allowed to turn you away due to a preexisting condition or charge you more for that condition. This means that you will have an easier time finding a Medigap policy that fits your budget and your lifestyle.
If you are beyond the open enrollment period and your current Medigap provider is shutting down or your plan is being discontinued, then you will have an extension of the Medigap open enrollment policy that will allow you to find a plan that works for you, albeit within a shorter period of time. Your Medigap enrollment period begins when you first apply for Medicare Part B.
2. Take Advantage of the "Free-Look" Period
You are allowed to keep your current Medigap plan for a full 30 days after you have enrolled in a different Medigap plan. The reason for this is that it allows you to keep coverage with one plan while testing out another safely. This is very helpful because it makes it easier for you to figure out if your new plan is going to serve your needs better than your current plan without the danger of not having coverage. Be sure to write up all of the pros and cons for each plan in order to make sure that you are making the absolute right decision for your situation. Be aware that you will need to pay for both premiums while you are in the "Free-Look" period.
3. Contact Your Current Insurance Company
You can often get a discount if you get your Medigap plan from the insurance company through which you are getting your Medicare A and B policies. Talk to your insurance company for more details.
For more information, talk to a company that specializes in Medigap insurance.