Frequently Asked Questions About Medicare Supplement Plans

The various pieces of Medicare can be both confusing and frustrating.  At Direct Insurance Network, we’re committed to making sure that our Boca Raton and Palm Beach County clients understand their Medicare options and choose the best plans for their needs. 

Can I change my Medicare Supplement Plan?

You can change your plan at any time you want to, but the best time to change your plan is during the 6 months after you first become eligible for Medicare.  If you want to change after that period of time, you could be asked to submit up to date medical information; you may need to pay higher premiums to get the new insurance, or you can be refused at the new plan entirely.  There are a few special circumstances where this doesn’t apply, however; if you’re thinking of changing your Medicare Supplement or Medigap program, speak to your insurer to see if you would require medical underwriting. 

What are cost-sharing plans?

Most Medigap plans pay 100% of their covered services; if they cover your Part B deductible, for example, then they cover all of it.  With cost sharing plans, however, they only pay part of the covered services; 50% or 75%, for example.  This plan can be appropriate for someone who doesn’t have many medical bills, but is concerned about having no help at all during coverage gaps and deductibles. 

Will pre-existing conditions keep me from getting a Medigap plan?

When you are first eligible for Medicare, you get a Medigap Open Enrollment period.  This is different from your early open enrollment period for Medicare Part D.  During this time, you can enroll with any Medigap plan, and any pre-existing conditions you might have will not be considered.  After that open enrollment time, insurers can and will look at your overall health; they may deny you coverage or charge you higher premiums.  This is also true if you are switching from one Medicare Supplement Plan to another. 

If you believe that you may want or need a Medigap plan in the future, it may be best to choose a plan during the open enrollment period, as you first become eligible for Medicare and Medicare Part B. 

Which Medicare Supplement Plan is right for me?

The answer depends on your health status, your pre-existing conditions, your finances, you eligibility for state healthcare plans, and more.  Since there are so many factors, the best way to find out which plans would be best for you over time is to speak to a healthcare or insurance agent that you trust.  Since each company that offers Medigap plans offers the same coverage benefits, it’s best to choose an insurance company that you trust. 

At Direct Insurance Network, we have a history of reliable insurance offerings in the Palm Beach County area.  Please contact us to learn more about our Medicare Supplement Plans; we’re happy to help you find the right plan for your needs.  Contact us today to get a free quote on our Medigap plans.