Medicare Supplemental Insurance

Time and time again, during conversations with those medicare clients I work with, I hear your concerns thinking that your open enrollment period is over.  Part of the problem with all the new options since 2006 is that with the effort to create more options for those receiving medicare benefits, the government has created more confusion.

So when can you make a change to your benefits?

• If you have a medicare supplement policy, you can change your plan at any time as long as you can answer and pass the health questions for underwriting.
• If you have a medicare supplement policy and can not pass the health questions for underwriting, then you can change companies on your policy anniversary period as long as you stay with the same plan, ex. Plan .
• If you have a stand alone prescription program (PDP or Part D) you have an open enrollment period from Nov 15th to Dec 31st each year to make as many changes to your current program as you want.  The last plan that you change to will become effective on Jan 1st of the new year.
• If you have a medicare supplement program with a stand alone prescription program (Part D), during Jan 1st through March 31st  you may change to a Medicare Advantage program (PPO, HMO, PFFS) with medical and drug coverage.  During the same period of time you can change from a Medicare Advantage program back to regular Medicare with a drug program.  You can NOT change from one stand alone drug program to another stand alone drug program.
• For Part D (prescription program) or Part C (Medicare Advantage) you can use a SEP or Special Election Period if you move out of your plan service area, or if your plan is no longer offered, or if you were mislead into enrolling into a part d or part c plan

Remember when you enroll into a Medicare Advantage program you have a 12 month trail period, after that 12 month period you can opt back into original Medicare and jump into a Medicare supplement plan no questions asked (Only certain plans available for guarantee issue, typically A, C, & F).  After that 12 month trial period, if you do not obtain a medicare supplement program, you will have to go through underwritting and depending on your health conditions at the time may or may not be accepted into the program.

If you are unhappy with your current coverages or your rates increase and you just would like to save some money, give Travis a call at 1-888-535-0999.

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