How to Switch a Medigap Policy

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How to Switch a Medigap Policy

In case you possess a policy of Medigap then under the law of US Federation you are not allowed to change or switch to another senior program of health insurance supplemental policy. In case you belong to the period of open enrollment then you have the right to change or switch your policy and this is even applicable in case you have some specific category of guaranteed issue rights.

At instances where the health insurance company (supplemental) provides you with an option where you can switch the policy then you should make a thorough comparison the premiums and benefits which are offered to you by the existing and new program prior to your enrollment in that program.

In case you make a decision of switching your policies its necessary not to decline the initial policy of Medigap instantly. Prior to your enrollment in the policy you will be given a 30 day period known as the trial period in which you need to make a decision whether to keep the policy which you have purchased or you wish to discontinue it. It’s essential to make the payment of the 2 premiums for that particular month thus it will leave you stress free as you won’t undergo a heavy loss. There is no obligation of a time period in which you are required to wait to purchase your 1st policy or to switch for purchasing a new policy.

A significant thing to understand is that in case you posses a policy of Medigap which is less than six months old the company of insurance has the right to keep waiting for another 6 months prior to the covering of the medical conditions which already exist. In case your initial policy for the Medigap provided you with similar advantages and this policy has covered you for a period of 6 months already then it’s possible for your newly purchased policy of health insurance supplemental to cover the medical conditions which already exist. You may be required to wait for a period of 6 months, in case the newly purchased policy of senior citizens doesn’t provide you the benefits, which are provided by the old policy.

Why You need to Switch the Medigap Policy You have

Your reasons for switching the Medigap policy to an additional program for health insurance supplemental program can include the below mentioned points:

• It’s easy to be delighted by the policy which you hold at the moment but you need more satisfaction so this may be the prime mover for you to switch to a new health insurance policy which is convenient to pay at a reasonable premium.
• The company of health insurance for which you purchased the policy doesn’t please you anymore and you are dissatisfied with their service.
• The requirements in terms of your health are demanding you to get more coverage from the benefits.
• The premiums you are paying are futile as they are contributing towards the coverage benefits which are incapable of helping you in any way.

There exist a majority of senior citizens which are concerned with switching to a new health insurance supplemental program, in case they are shifting their residence to another state. If you are registered with the Program of Original Medicare then it’s possible for you to continue with the policy of Medigap and be worry free about it. In case you wish to make a switch by obtaining a program of Medigap or an health insurance policy inside your new residence (State) it’s necessary for you to contact an Insurance consultant for Medigap who can assist you with the process of procuring a new policy for Medigap in your new state.

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