Arizona Medicare Supplement Quotes
Did you know you can change Medicare Supplement plans anytime during the year? You do NOT have to wait for the Annual Election Period (AEP) from October 15th - December 7th.
Insurance companies charge different rates for the same coverage. On page 13 of 2019 Choosing a Medigap Policy by CMS (you can download here), it states: "Different insurance companies may charge different premiums for the same exact policy. As you shop for a policy, be sure you're comparing the same policy". An example would be to compare Plan G from company 1 with a Plan G from company 2.
You might want to change your Medicare Supplement plan if:
· You can get a lower premium for the same coverage.
· You no longer need the benefits
· You want additional benefits
· Your financial situation has changed.
· Your monthly premiums are getting too high.
Guaranteed Issue Rights
You have a guaranteed issue right (which means an insurance company can’t refuse to sell you a Medigap policy) in these situations:
· You're in a Medicare Advantage Plan, and your plan is leaving the service area, or you move out of the plan's service area.
· You have Original Medicare, and an employer group health plan or union coverage and that plan is ending.
· You have Original Medicare and a Medicare Select policy. You move out of the Medicare Select policy's service area.
· You joined a Medicare Advantage plan when you were first eligible for Medicare, and within the first year of joining, you decide you want to switch to original Medicare. (Trial Right)
· You dropped a Medigap policy to join a Medicare Advantage plan for the first time, you've been in the plan less than a year, and you want to switch back. (Trial Right)
· Your Medigap insurance company goes bankrupt, and you lose your coverage, and your Medigap policy coverage otherwise ends through no fault of your own.
Switching your Medicare Supplement to another Carrier
Medicare Supplement policies have a 6 month Open Enrollment Period which begins the month after the beneficiary turns 65 and signed up for Medicare Part B. You can select any of the available standardized plans at this time without going through medical underwriting which means the insurance carrier can not turn you down or charge extra due to pre-existing health conditions.
Outside of the Open Enrollment Period, your application will likely be "medically underwritten," and you will usually have to answer some medical questions. There is no guarantee that your application will be accepted and a quote is not final until your paperwork has passed through underwriting. That said, it doesn't hurt to shop around to see what is available but make sure that you never cancel your current coverage until your application passes through underwriting, your rate gets confirmed, and the plan becomes active.
Most people can save hundreds of dollars by switching to another Medicare Supplement carrier. By making one brief phone call, we can provide Medicare Supplement rates from all the top Arizona carriers so you can compare with your current plan.