February Medicare Minute

We will hear the comment “I was denied, but
with Obamacare I thought there weren’t­
supposed to be any medical or pre-existing
questions.”

This is like comparing apples to oranges. The
Affordable Care Act has absolutely nothing to
do with Medicare. This is actually how it works…

Clients that have a Medigap policy can change their carrier any month of the year they wish. The reason they want to switch is usually to save money on the monthly premium. Medigap plans are Federally standardized and the plans are EXACTLY the same no matter which carrier you buy from. We get inquiries from clients on a regular basis, especially when that are attempting to switch from one Medigap (Supplement) Carrier to another, or stay with the same carrier, but change plans from an “F” to a “G” or vice versa.

The Medigap carriers MUST take you as a policy holder the first time you enroll in Medicare, which for most of us is age 65. You are a guaranteed issue, and they have to take you even if you do have pre-existing conditions. The issue arises (after the initial enrollment period has passed) when a member wants to switch from one provider to another. When desiring to switch, most of the carriers can only accept you if you have no chronic conditions. These are medical conditions that you have developed that you will have for the rest of your life. (Exact parameters vary by carrier. There are two companies that offer plan “F” with limited or no questions.)

So, in other words, you can switch Medicap carriers
or plans as long as you are healthy.

Medicare itself has never asked pre-existing medical questions. They never have and they never will. Medicare Advantage Plans, which are alternatives to Medigaps, have only one question. As long as you do not have End Stage Renal Disease (Kidney Dialysis) you can switch.*

Shopping for the most appropriate rate is a good idea
at least once a year. So keep up your exercise,
keep up your healthy eating, and keep those
premium dollars in YOUR pocket.

Medicare Advantage plans may only be switched during Annual Election Period, Oct 15 – Dec 7.