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Want to Get a New Supplemental Plan?
4 Essentials to Know Before Switching
Rate Increases Are Normal
All supplemental plans go up from year to year. Some insurance carriers split this into two smaller increases per year. These increases are normal due to medical inflation and to be expected. Unfortunately, this year it might be higher than normal as inflation was higher than normal.
Rate Increases Usually Don’t Happen on January 1st
Many insurance carriers do not put increases into effect on January 1st of each year – instead, it often happens in the spring, or it can be tied to your policy anniversary date. They will always send you a notice before any premium increases. Generally, we are not included in those communications.
95% choose plan G or N
Plan G covers almost all Medicare Part A and B out-of-pocket costs, except the Part B deductible. Plan N offers lower premiums but requires co-pays for doctor visits and ER, and it doesn’t cover excess charges.
Medical Underwriting
For 99% of cases, when you switch from one supplemental plan insurance carrier to a different one (even if you keep the same plan type i.e. F to F, G to G), you must Medically qualify and go through health underwriting. Even if you attempt to switch during the annual enrollment period (Oct 15-Dec 7) you will still need to undergo health underwriting.
Get Our Help by Following These Two Easy Steps:
Step 1
Take Pre-Underwriting Quiz
You will likely need to pass medical underwriting to get a supplemental plan. Take our quiz to see if you pass. If you can say “No” to all these questions, you’ll be able to schedule an appointment with our team.
Note: NY, MA, CT, ME, & VT generally do not require underwriting.
Step 2
Schedule an Appointment
Review our scheduling process below so you can book an enrollment appointment with our team. We will review different Supplemental Plan options, complete the underwriting form, and submit the application for you.
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Frequently Asked Questions
Click on a question below and the answer to the question will show.
What action do I need to take for my Supplemental Plan during the Annual Enrollment Period (AEP)?
You don’t need to take any action regarding your Medigap plan during the Annual Enrollment Period (October 15 – December 7). AEP is primarily for changes to Medicare Advantage (Part C) or prescription drug (Part D) plans, or switching from a Medigap plan to a Medicare Advantage plan. No special treatment is given to Supplemental plan changes during this time.
Can I switch Medicare Supplemental Plans at any time?
Yes, you can apply to switch plans at any time. However, after your initial enrollment period (when you first sign up for Medicare Part B), insurance companies generally require medical underwriting. This process assesses your health, and based on that, insurers may increase premiums or deny your application.
What is medical underwriting, and how does it affect changing plans?
Medical underwriting is the process insurance companies use to evaluate your health when you apply for a new plan outside of specific guaranteed-issue periods. If you have pre-existing conditions, the insurer may charge higher premiums or deny coverage altogether.
What will my Supplemental Plan rate be next year?
Most carriers do not tie their rate increases to the calendar year. Often, rate increases happen between April – June each year. You will receive a notice in the mail 30-60 days in advance of any rate increase. Keep an eye out for this notification to stay informed.
Why should I consider changing my Medicare Supplemental Plan?
You may want to change your Medigap plan if:
- Your premiums have increased substantially (note that all plans went up 10-15% this year due to inflation).
- You have been on your plan for 4-5 years, are still healthy, and would like to join a ‘younger’ block of business for better long-term rate stability.
How do I change from a Supplemental Plan to a Medicare Advantage Plan?
The right time to switch from a Medigap plan to a Medicare Advantage plan is during the Annual Enrollment Period (October 15 – December 7). Click here to learn more about the process and to schedule an appointment with our team to discuss your options.
What happens to my old plan if I switch to a new Medigap plan?
Once you are approved for and enrolled in your new Medigap plan, you must cancel your old plan. Make sure your new plan’s coverage is in effect before you cancel to avoid any coverage gaps. Note that it is your responsibility to cancel your old plan, as we cannot cancel active insurance on your behalf.
Are there situations where I can switch Medigap plans without medical underwriting?
Yes, certain situations grant guaranteed issue rights, allowing you to switch plans without medical underwriting, such as:
- Losing your current Medigap coverage through no fault of your own.
- If your plan stops offering coverage in your area.
- If you are within the first six months of your Part B enrollment (Medigap open enrollment period).
Can I switch my Medigap plan anytime in New York and Connecticut?
Yes! In both New York and Connecticut, you can switch Medigap plans year-round without medical underwriting. This means you won’t be denied coverage or charged higher premiums based on your health status or pre-existing conditions.
What’s the difference between Medicare Supplement Plan G and Plan N?
- Plan G: Covers all Medicare Part A and Part B out-of-pocket costs except the annual Part B deductible. After the deductible is met, you have no additional copays or coinsurance for covered services.
- Plan N: Offers similar coverage but requires you to pay copays for certain services after meeting the Part B deductible. Specifically, there’s a $20 copay for doctor visits and a $50 copay for emergency room visits (waived if admitted). Plan N also doesn’t cover Part B excess charges, which are additional fees (up to 15% of the total bill) that some doctors may charge over Medicare’s approved amount.
Why should I consider switching from Plan G to Plan N?
- Lower Premiums: Plan N generally has lower monthly premiums compared to Plan G. If you’re in good health and don’t mind paying small copays for doctor visits and emergency room services, Plan N may offer significant savings.
- Minimal Copays: The $20 copay for office visits and $50 copay for emergency room visits are relatively small, especially if you don’t visit the doctor frequently.
- Part B Excess Charges: If your healthcare providers accept Medicare assignment, you won’t have to worry about Part B excess charges, making Plan N a more affordable option without much downside.
What costs will I be responsible for on Plan N?
- The annual Part B deductible (currently $240 in 2024, but this may change yearly).
- $20 copay for doctor visits.
- $50 copay for emergency room visits (if you aren’t admitted).
- Part B excess charges, if applicable, which can be up to 15% over the Medicare-approved amount if the provider does not accept Medicare assignment.
What’s the difference between Medicare Supplement Plan F and Plan G?
- Plan F: Plan F is the most comprehensive Medigap plan, covering all Medicare Part A and Part B out-of-pocket costs. This means no copays, deductibles, or coinsurance. However, Plan F is only available to individuals who were eligible for Medicare before January 1, 2020.
- Plan G: Plan G offers nearly identical coverage to Plan F but does not cover the Medicare Part B deductible. After you pay the Part B deductible (which is $240 in 2024), Plan G covers all remaining costs.
Why should I consider switching from Plan F to Plan G?
- Lower Premiums: Plan G typically has lower monthly premiums than Plan F, and the only difference in coverage is the Medicare Part B deductible. If the savings on your premium outweigh the Part B deductible, switching could save you money overall.
- Plan F Is Phasing Out: While current enrollees can keep their Plan F, it’s no longer available to new Medicare beneficiaries after January 1, 2020. As fewer people are eligible for Plan F, premiums may increase faster than those for Plan G, making Plan G a more cost-effective option over time.
- Same Comprehensive Coverage: Other than the Part B deductible, Plan G offers the same level of coverage as Plan F, so you can enjoy similar peace of mind regarding out-of-pocket costs.
How much is the Medicare Part B deductible, and how does it affect me?
For 2024, the Part B deductible is $240. This means that under Plan G, you will need to pay the first $240 of your Part B costs (for doctor visits, outpatient services, etc.) out of pocket each year. Once this deductible is met, Plan G covers 100% of the remaining Part B costs, just like Plan F.
Can I switch from Plan F to Plan G, or from Plan G to Plan N at any time?
Yes, you can switch at any time, but you may need to go through medical underwriting, where insurers assess your health status before approving you for a new plan. If you are in good health, this shouldn’t be a problem. Certain states, like New York and Connecticut, allow you to switch plans at any time without medical underwriting.
How can I compare Medigap plans?
You should compare Medigap plans based on coverage, premiums, and benefits. Start by taking our [health quiz] to see if you qualify. If you answer “no” to the health questions, schedule an appointment with our team to help you compare rates and enroll in a new plan.
Not what you are looking for?
See the list of the AEP options below: