Medicare Supplements, also known as Medigap plans, are supplemental policies you can add on while enrolled in Original Medicare. There are ten different types of Medigap policies, though not all of them are currently available for new enrollment.
The purpose of Medigap is to reduce the amount that you owe when it comes to your out-of-pocket costs. To further explain, a Medigap plan’s main purpose is to pick up where your Original Medicare coverage left off, such as providing coverage for deductibles or coinsurance. It’s important to understand that each Medigap plan will vary in coverage, so it’s important to compare each of the ten plans to determine which one will suit your needs best. The coverage provided by Medigap Plan A will be different from the coverage provided by Medigap Plan K.
Is it possible to switch plans?
Because there are different Medigap policies available, you can pick the one that makes the most sense for you. If your situation changes, then it might mean that you should switch Medigap plans.
It may be possible for you to switch your Medigap plan. The easiest way for you to switch your policy is if you’re still in the Initial Enrollment Period. During this period, you can make changes to your policies and make sure that your insurance aligns with your medical needs.
If you’re not within your Initial Enrollment Period, then it may be more complicated to switch your policy. One of the best things that you can do is speak with an expert about your situation and what your options are.
Do you want to switch plans?
If you’re considering switching your Medigap plans, book an appointment at Medicare With Jake today! We have years of Medicare experience and love helping people find the coverage that suits them best. To learn more about your Medigap options, give us a call now.
