If you are looking to make a change to your Medicare Supplement Insurance coverage in order to save money, it is important to understand the process and timeline for doing so. First of all, there are no annual enrollment periods. You can change your Medigap Insurance at any time of the year.
The Medicare annual enrollment from October 15 to December 7 does not apply to Medigap plans at all. For Medigap plans, open enrollment is the first six months after you turn 65 and have Part B.  Open enrollment means you can get a Medigap plan with no health questions asked.  In later years, you can still apply for Medigap insurance any month of the year, but an insurance company may deny coverage if you need a lot of health care.
Medigap plans come in 10 different forms with the different types of benefits labelled, such as Medigap Plan F. In other words, a Plan F with one company is the same as a Plan F with another insurer. With Medigap Insurance plans, you can go to any doctor or hospital that works with Medicare. Claims are processed automatically. If Medicare pays for something, your Medigap plan will pick up charges Medicare leaves.
If you are planning to switch companies, it is important to apply at least a month in advance of when you want the coverage to start. Approval times vary from two weeks to four weeks in most cases and with most companies. Once your new policy is approved, you can cancel your old policy. If you’d like some help sorting it all out, just give us a call.  We specialize in how to complete Medicare coverage.  We can research your options and help you match them to your needs and budget.


Jim McFadden has over 11 years of executive-level experience in the health insurance industry, is a youth baseball, softball and football coach, and has one of the worst fantasy football records in the world.