Switching your Medigap polices

There are 4 reasons why someone may need to switch their policies:

1. Their current policy has the right benefits, but they want to find policies that are less expensive
2. They are paying for benefits they do not need.
3. The current policy has the right benefits, but they want to change their insurance company
4. They need more benefits than he or she needed before.

Can you switch policies? 

Yes, in most cases. Under the right federal law you have the right to switch your Medigap policy. If you are eligible under certain circumstance or guaranteed issue rights. Or are within the 6-month Medigap open enrollment period.

You do not have to wait a certain length of time after buy the first Medigap plan before you are able to switch to a different policy.

How to switch Medigap Policies:

If you decide to change your insurance companies, call the new insurance company and arrange to apply for your new Medigap policy. If your application is accepted, call your current insurance company, and ask for your current coverage to end.

The insurance company will tell you how to submit a request to end your coverage.

Medigap free-look period

Enrollees will have 30 days to decide if they want to keep their new Medigap policy. This is known as a Medigap look period. The period will start when he or she has their new Medigap policy. You will need to pay both premiums for one month.

Do not cancel your Medigap coverage until you decide if you are keeping the second policy. On the application for the new Medigap policy, you will promise that you will cancel the first policy.