You can change your Medicare Supplement Insurance (Medigap) plan at any time of the year. However, whether you are approved — and how much you pay — depends on when and how you apply. The key factor is whether you are in your Medigap Open Enrollment Period or qualify for a guaranteed issue right.
Medigap Open Enrollment Period
The best time to change your Medicare Supplement plan is during your 6-month Medigap Open Enrollment Period. This window begins when you are 65 or older and first enroll in Medicare Part B. During this time, you can buy any Medigap plan available in your state without medical underwriting.
- No health questions or exams required
- Guaranteed coverage regardless of pre-existing conditions
- Access to the lowest available rates
Changing Plans Outside of Open Enrollment
You may apply to switch Medigap plans at any time, but outside of open enrollment insurers may require medical underwriting. This means you could be denied coverage or charged higher premiums if you have health conditions. Some states – including California, Oregon, Missouri, Washington, and New York – offer additional protections that let you change plans each year without underwriting.
Guaranteed Issue Rights
In certain situations, you have a guaranteed right to change plans without medical underwriting. Common examples include:
- Your Medigap company goes bankrupt or ends your policy through no fault of your own
- You move out of the service area for a Medicare SELECT plan
- Your Medicare Advantage plan ends, or you switch back within 12 months of joining
- Your insurer misled you or committed fraud
Guaranteed issue rights are time-sensitive. In most cases, you must apply within 63 days of losing or leaving your coverage.
Free Look Period
If you change plans, you have a 30-day “free look” period to decide whether to keep your new coverage. During this time, you must pay premiums for both your old and new policies, but you can cancel one once you decide.
Reasons to Change Your Medigap Plan
Even if you’re satisfied with your coverage, there are reasons to shop around:
- Better price: Compare plans during your insurer’s annual rate change notice.
- More coverage: Switch to a plan that offers additional benefits like skilled nursing facility care or foreign travel emergency coverage.
- Less coverage: Choose a lower-cost plan if you no longer need certain benefits.
- Different insurer: Move to a company with stronger service or better financial stability.
Key Takeaways
You can apply for a new Medigap plan at any time, but your options depend on timing and eligibility. The most favorable time is your Medigap Open Enrollment Period, but guaranteed issue rights and state-specific protections may also help you avoid medical underwriting.
Not sure if you qualify? Compare plans in your state or contact a licensed insurance agent who can walk you through your options and help you choose the best policy for your needs.