When to Switch Medigap Plans: What You Need to Know

Why You Might Want to Switch Medigap Plans

• Your current premium has increased significantly

• You want to switch to a plan with different coverage (e.g., from Plan F to Plan G)

• You found a lower rate for the same plan from a different carrier

• Your state's birthday rule gives you an annual switching window

When You Can Switch Medigap Plans

Unlike Medicare Advantage, there is no set annual enrollment period for Medigap. You can apply to switch at any time of year. However, outside of guaranteed issue windows, insurers in most states can require medical underwriting.

What to Know About Medical Underwriting

Medical underwriting means the insurer reviews your health history before deciding whether to offer you coverage and at what price. Common conditions that can lead to denial or higher premiums include diabetes, heart disease, COPD, cancer history, and obesity. If you're in good health, switching is generally straightforward.

Potential for Significant Cost Savings

Medigap premiums for the same plan can vary by 50% or more between carriers. If you're healthy and your premium has increased, shopping around can yield substantial savings. Even a $50/month reduction saves $600 per year.

Review Your Current Medigap Coverage

Before switching, compare your current plan's benefits with alternatives. Confirm the new plan covers everything you need, especially if you're considering moving from a more comprehensive plan (like Plan G) to a less comprehensive one (like Plan N) to save on premiums.

Common Mistakes to Avoid When Switching

• Cancelling your current policy before the new one is approved

• Switching to a plan with less coverage than you need

• Not checking your state's birthday rule or other special protections

• Failing to compare multiple carriers for the same plan

Frequently Asked Questions