While this can be unsettling to some, there are protections in place, and you do still have options. Read on to learn more about what to do when your Medicare Advantage drops you.

What Type of Plan Can You Get When Your Medicare Advantage Non-Renews?

When your Medicare Advantage plan drops you, you have two options for coverage moving forward. We’ve detailed both of those options below:

A New Medicare Advantage Plan: One option that you have when your Medicare Advantage plan non-renews is to choose a new Medicare Advantage plan that IS going to be offered in your county for the following calendar year. You can do this during the annual election period (October 15-December 7) and it would take effect on January 1 of the following year. The transition would be seamless in that the current plan will cover you through the end of the calendar year, and the new plan would start on 1/1. 

It is very important, when considering/comparing Advantage plans, that you do your due diligence to make sure that the plan you are choosing is accepted by your doctors, covers your medications and just altogether meets your medical coverage needs. There are many variables to consider when comparing this type of plan.

Return to “Original” Medicare with a Medigap Plan: The 2nd option that you have when your Medicare Advantage plan non-renews is to return to “original” Medicare (Part A – hospital coverage; Part B – doctor/outpatient coverage) and add a Medigap plan, sometimes called a Medicare Supplement. Medicare gives you a mandated “guaranteed issue” right into certain Medigap plans, when your Medicare Advantage drops you through no fault of your own. So, many Medicare beneficiaries take the opportunity, when dropped by their Advantage plan, to get the comprehensive Medigap coverage that they may have not otherwise qualified for. 

Normally, to switch from an Advantage plan to a Medigap plan, you would have to go through medical underwriting and get approved. However, this is one of the few instances that would allow you to make this change with no medical underwriting or restrictions. Medigap plans pay the 20% that Medicare does not cover, and the most comprehensive Medigap plans (Plan F and Plan G) essentially pay all of your medical costs with no co-pays or out of pocket (with the exception of the Medicare Part B deductible of $240/year on the Plan G). Moreover, the Medigap plans do not ever non-renew and don’t change from year to year. They also do not have networks so you can go anywhere in the country that accepts Medicare. 

How Do You Get Another Plan After Your Medicare Advantage Plan Drops You?

So, if your Medicare Advantage drops you for 2025, you have options to get another plan. Here are a few tips:

• You should save all documentation that comes to you via mail regarding your plan’s changes, as you may need it to prove your eligibility for another plan.
• Make sure you read any documentation carefully and observe all deadlines and requirements.
• When choosing a new Advantage plan, make sure that the Advantage plan is accepted by your doctors/hospital. Also, make sure that your medications are covered under it and review any restrictions on coverage. 
• If choosing a Medigap plan, the plans are standardized (same coverage with every company) so you should compare the rates and pick the one with the best rates and ratings. A Medigap broker can provide you with a list of all the options. 

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information, you can contact us online or call us at 877.506.3378.

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What Happens to Existing CSI and Central States Policyholders?

With Medigap plans, any time your company stops selling new plans, you are still “grandfathered in” to your current plan. So that is the case for existing CSI Life Medigap and Central States Medigap policyholders. As long as the company has not completely gone out of business due to inability to pay claims, then your policy will continue to be serviced and you can keep the policy.

You do have the option to change plans if you’d like to do so. You would, however, be subject to the normal underwriting guidelines applicable in your state. This just means that you would have to answer some basic medical questions to be eligible to change. There are some states that have annual open enrollment rules, though, which would allow you to change without being subject to medical underwriting (What is the Medigap Birthday Rule and Which States Have It?).

Should You Change Plans if You Have a CSI Life or Central States Medigap Plan?

For existing CSI Life and Central States Medigap policyholders, you have the option of either keeping your existing policy or changing companies, if eligible, to a different insurer offering the same Medigap policy. All Medigap policies are standardized, and in most states, the plans go by the standard Medigap coverage chart. This makes it easy to compare plans “apples to apples” and switch to a “like” plan without sacrificing coverage if there is a better premium available elsewhere.

When a company stops offering plans, existing policyholders are in a closed “block”. This means that no new, often younger, policyholders are being added, and this can lead to more frequent and/or larger rate increases in the future (How Much Do Medigap Premiums Increase Each Year?).

So, it is usually prudent to compare your Medigap options and at least consider changing your plan if your Medigap company stops offering plans and if you are eligible to do so. You can get a list of Medigap options here.

Why Did the Central States Companies Stop Selling Medigap?

Companies entering and existing the Medigap market is not an unusual occurrence. Typically, when they stop offering plans, no real reason is given. It could because they did not find this line of business as profitable as projected or that they intended to focus more on other lines of insurance or segments of their business. In the case of CSI Life and Central States, their official release did not give specific reasons. They did announce another affiliate, Central States Health and Life Insurance of Omaha, but that affiliate company also pulled out of Medigap a couple of years later.

Will This Happen with Other Companies that Sell Medigap?

The short answer is “yes”. It has happened, is happening and will likely to continue to happen, as new companies enter and exit the Medigap market all the time. There is no way to know for certain if a specific Medigap company will exit the market at any given time. The best predictor of future stability is past stability, but even that is not always certain. As always with Medigap, it is a good idea to compare current prices, company ratings and past rate stability when comparing and choosing a Medigap policy.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information, you can contact us online or call us at 877.506.3378.

The post What Happened to CSI Life Medigap and Central States Medigap? appeared first on 65Medicare.org.

ACE Medigap plans

ACE Medigap Coverage – What Do They Cover?

First and foremost, ACE Medigap plans are the same as other Federally-standardized Medigap plans. They go by the regular Medigap coverage chart. This means that there is no difference in coverage with ACE plans vs. other plans from other companies. In other words, an ACE Plan G would be the exact same as a Plan G from any other company.

Typically, in most states, ACE offers both the Plan G and the Plan N (Choosing between Plan G and Plan N). Plan G is the most common and comprehensive Medigap plan, paying everything that Medicare A & B do not cover except for the Medicare Part B deductible (currently $240/year). Plan N is also a popular option, however, because it gives a lower premium in exchange for some minimal co-pays and out-of-pocket costs.

In some states, ACE Medigap does also offer the high deductible Plan G as an option. This plan is different than the regular/standard Plan G. It is a high deductible alternative with a $2800 that must be met before the plan pays anything.

Who Is the ACE Medigap Company?

ACE as they are commonly called has the full name of ACE Property and Casualty Insurance Company. They are a Chubb company. Chubb operates in 54 countries and is one of the largest insurance companies in the United States. Medigap plans are one small part of what they do – they are also active in commercial insurance, property and casualty, life insurance, reinsurance and other types of insurance.

They have more than $225 billion in assets and had $57.5 billion in premium written in 2023. ACE inherits Chubb’s solid ratings from AM Best (A++) and Standard and Poor’s (AA).

Medigap plans are a relatively new offering through ACE and Chubb. They started offering them in 2021 in most states. However, they are well-positioned in the markets where they operate, having a low premium and solid rating.

What Makes ACE Medigap Unique?

As previously mentioned, ACE Medigap plans are the same as the Federally-standardized plans offered through other insurers. However, there are few aspects of the ACE plans that are unique:

• Competitive pricing in most markets – ACE plans are one of the lowest priced offerings in many areas of the country where they are available.
• Household discount just for being married or having a household resident – In most states, ACE Medigap plans offer a 7% discount just for being married or having a household resident. In other words, it is not required that two people in the same household have a plan with them in order to qualify for this discount (state-specific laws may vary so it is always advisable to check with your broker for your exact rate). Should You Use a Medigap Broker?
• No waiting period for pre-existing conditions – There are no waiting periods for pre-existing conditions under ACE plans. This applies whether you are applying during your initial open enrollment period or if you already have a Medigap plan and are just looking to reduce your costs.
• Great financial strength ratings – As outlined above, ACE has very high AM Best ratings (A++), one of the highest of any Medigap plan available. This gives assurance that their plans are backed by a solid company with a solid financial backing.

Should You Consider ACE Medigap Plans?

If you are in the market for Medigap, whether new to Medicare or just looking to get a better rate, ACE Medigap plans are certainly a viable option to consider. It is always prudent to check the rates for all plans in your area before selecting a Medigap plan. You can get a list of the Medigap plans, with prices and company ratings, delivered by email here: Medigap quotes by email.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information, you can contact us online or call us at 877.506.3378.

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There are several factors which should be considered when choosing between a Medigap Plan G or Plan N.  It basically comes down to making an informed decision based upon your personal situation, finances and lifestyle.  Below I will explain some similarities and differences between these two plans, so that you will be better informed to make your choice.

I already understand the plans… Email me the list of Medigap options with rates and ratings for my area

What Do Plan G and Plan N Have in Common

There are many similarities between Plan G and Plan N. In fact, they are more alike than they are different (which may be why you are considering these two plans). Many people consider them to be the two best Medigap plans. Here is a list of the primary similarities:

• Medicare Part A deductible IS covered
• Medicare Part B deductible of $240 (2024) per year is NOT covered
• Hospitalization, skilled nursing facility care, blood, hospice care, foreign travel ARE covered
• An application must go through medical underwriting unless you are enrolling during open enrollment or have a guaranteed issue situation

What are the Differences Between Plan G and Plan N

Although there are many similarities, there are also a few significant differences between Plan G and Plan N:

Plan G has:

• No Part B doctor/outpatient copays
• No emergency room copay
• No Part B excess charges of 15% (the difference in cost between the Medicare-approved payment amount for services and the amount your health care provider charges).  They cannot charge more than 15% above the assigned rate and still be reimbursed by Medicare.

Plan N has:

• Part B doctor/outpatient copay of up to $20 per office visit
• Part B copayment of up to $50 per each emergency room visit.  Note: If you are admitted to the hospital, then this copayment is waived.
• Part B Excess charges of up to 15% (if the provider charges Part B excess charges and does not accept Medicare “assignment”)

Medigap Plan G Premiums vs. Medigap Plan N Premiums

In most states, Plan G generally runs about $20-25 more per month than Plan N (More about Plan G prices).  Depending upon the condition of your health, it might be a better idea to sign up for Plan N, even though there is a copay and may be 15% in excess charges associated with it.

Example 1:    Tom is a 72-year old man, who lives a healthy lifestyle.  He does not take any medications, except for vitamins and herbs, and works out almost daily at the YMCA.  The only time he sees a doctor is when he goes for his annual physical.  In his case, it would be more cost effective for Tom to choose Plan N over Plan G.  Why?  Because even though he will have had to pay a copay and perhaps more if his doctor doesn’t accept Medicare assignment, it will amount to less than if he paid that higher premium for Plan G.

Example 2:    Linda is 69-year old woman, who lives a sedentary life.  She’s a smoker, slightly overweight, and has high blood pressure.  She only works out about 1 to 2 times per week.  She’s on medication for her blood pressure, and takes an antidepressant daily as well.  She visits her doctor at least four times a year, if not more.  In Linda’s situation, it would be more beneficial for her to enroll in a Plan G.  Why?  Because by the time she adds up all her doctor visits, possibly incurring lab copays and 15% in excess charges, she will have paid out more annually, even though her monthly premium is lower.

Other Considerations Between Plan G and Plan N

When choosing between Plan G and Plan N, another consideration that you must make is about the future. The initial open enrollment selection of a Medigap plan is not necessarily a “final” choice. You can always change plans or companies in the future. However, and this is an important and commonly misunderstood point, you have to answer medical questions and be “approved” if you change plans later.

So, what this means is that, even if your current health dictates that you enroll in a Plan N (or possibly even in an Advantage plan), you should think about that decision on a long-term basis. What you enroll in initially, if you have or develop health problems, may be what you keep out of necessity.

Choosing the right plan to meet your needs may either be an easy decision or more complicated than you imagined it to be.  The bottom line is that it all depends on your current personal health profile and what you anticipate your health status to look like in the near and distant future.  You may have an elective surgery coming up that might increase the amount of times you will need to see a health care provider.  Your finances may also be impacted.  So, these are all things that should be taken into consideration in your final decision between Plan G and Plan N.

Bottom-line, there is no right or wrong answer to choosing between Plan G and Plan N. The right decision depends on your unique situation. What we do is provide the list of options – companies, rates, and ratings – for both Plan G and Plan N so you can make an informed choice. Get a list of Plan G and Plan N quotes, delivered by email, here. 

The post Choosing Between Medigap Plan G and Plan N appeared first on 65Medicare.org.

How Does High Deductible Plan G Work?

High Deductible Plan G works very similarly to other Medigap plans. Like other Medigap options, the plan works with regular Medicare Part A and B and fills in the gaps in Medicare. There are no networks on HDG or any other Medigap plans – you can use the plan at any doctor or hospital that accepts Medicare.

High deductible Plan G has a deductible of $2800 (for 2024 – this deductible changes each year).  What this means is that, when you use medical services, Medicare will pay their 80%, and you will be responsible for the other 20% until you meet the $2800 deductible. In other words, you will pay 20% of Medicare-approved charges up to $2800 per calendar year.

After you have paid out $2800 in a calendar year, your HDG plan will act exactly like a “regular” Plan G. The plan will pay what Medicare does not pay (the 20%). HDG, like standard Plan G, does not cover the Medicare Part B deductible ($240/year in 2024); however, that deductible goes towards the larger HDG deductible so you would have already met it by the time you reach the $2800 HDG deductible.

The deductible for HDG resets each calendar year, so you would have to start over with meeting the deductible each year. High deductible Plan G, just like any other Medigap plan, can never be cancelled for reasons other than non-payment of premium. The plan is ‘guaranteed renewable’ and does not have to be renewed annually, nor does it have any sort of annual renewal period.

What are the Advantages of High Deductible Plan G?

The appealing thing about the HDG is the premium. It is considerably lower in premium than the traditional Medigap plans – usually about half of Plan N rates and up to $100/mo lower than Plan G rates (rates vary considerably depending on the state and your age). That is the most significant advantage of HDG – it can save you a good bit of money off of the premiums on other Medigap options.

Additionally, it is easy to use, just as any Medigap plan. You don’t have to file claims or worry about whether claims will be processed/paid. The Medicare “crossover” ensures that everything will work seamlessly, once you have met the deductible.

Medigap rates vary considerably from one area to the next (Why Do Medigap Premiums Vary?), and the premiums are determined by other factors like gender and age. But to give you a general idea, we’ve included current (as of October 2023) High Deductible Plan G rates for the lowest premium company in a few different areas (rates are for a 65-year-old female):

• Bradenton, FL = $67.77/mo
• San Antonio, TX = $31.82/mo
• Charlotte, NC = $30.60/mo
• San Francisco, CA = $38.12/mo
• Denver, CO =$46.61/mo
• Lansing, MI = $34.15/mo
• Richmond, VA = $35.82/mo
• Harrisburg, PA = $34.47/mo
• Topeka, KS = $29.39/mo

*Note: Rates are subject to change at any time. They do not go by the calendar year and can change from month to month. There’s no “enrollment period” for Medigap plans other than the one when you first start on Medicare. For current Medigap rates specific to your area and situation, get Medigap rates by email or call us at 877.506.3378.

What Are the Downsides of High Deductible Plan G?

While High Deductible Plan G is very appealing in terms of monthly premium, there are some factors to be aware of if you are considering this plan. First and foremost, the plan does not pay anything until you have met the initial HDG deductible. You are responsible for any and all out of pocket costs that aren’t covered by Medicare (the 20%).

Second, and maybe most importantly, you do always have to ‘qualify medically’ to switch from one Medigap plan to another after your initial open enrollment period, which is when you first turn 65 or start on Medicare (NOTE: There are a few states that have unique annual open enrollment periods). So, while HDG may be a good fit for someone who has few health problems or doctor visits when they turn 65, it is important to think about your initial Medigap selection on a long-term basis since there is no guarantee that you can change plans in the future. Weekly, we talk to someone who is trying to ‘upgrade’ their Medicare coverage from an HDF or Plan N or Advantage plan but is unable to do so due to some health condition or ongoing medical treatment.

Lastly, you should be aware that the deductible on the high deductible Plan G changes every year. In the last five years, it has gone from $2200 to $2800, a 27% increase in that time period. It is not likely that this trend of the increasing deductible will lessen over time.

This is not to say that High Deductible Plan G is not a good option in some situations – it is. However, it is crucial to think through and be aware of the future implications of selecting HDG and be okay with it on a long-term basis.

How Do I Enroll in a HDG?

If you do decide that a High Deductible Plan G is the right plan for you, you should definitely compare rates from different insurers rather than jumping at the first offer on this plan. There are fewer companies that offer this plan than some of other plans. Some states only have 3-4 companies that do this plan, as it historically has not been a plan with a large market share (between 3-4% historically by most reports). That said, you should compare multiple options since rates can vary considerably on Medigap plans. If you want a list of plans and rates by email, you can contact us through our website or by phone.

Once you pick a HDG, you can enroll online or by phone through us or through another broker like us (Why Use a Broker).

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information, you can contact us online or call us at 877.506.3378.

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First and foremost, we should clarify that the technical name for this period is the “Annual Election Period” (AEP). It runs from October 15, 2023 to December 7, 2023. Even Medicare itself sometimes mistakenly and confusingly calls it the “open enrollment period”. Open enrollment for Medicare is actually when you turn 65. And open enrollment for Medicare Supplement plans is when you start on Medicare Part B for the first time (either due to turning 65 or starting on it later than that). But since most people call it open enrollment and so as not to get to hung up on jargon, we’ll use both terms interchangeably – annual election period and Medicare open enrollment.

What Changes Can You Make During Medicare Open Enrollment?

So, what changes can you make during the annual election period? This period is all about changing your Medicare Advantage plan or your Medicare Part D prescription drug plan. With either of those two types of plans, you have the opportunity to switch to another plan within your same insurance company or a different insurance company. Any changes that you make to your coverage will take effect on January 1 of the following calendar year.

If you are already on a Medicare Advantage plan or a Medicare Part D plan, you should receive something from your plan, by mail, in late September/early October detailing the plan’s changes for next year. This is called the annual notice of changes (ANOC), and it is a requirement that plans send this out and do so in a timely manner.

The plan coverage for the next calendar year will be available on Medicare.gov on or around October 1. So you would be able to log in and compare your current plan to what else is available after that date. But you cannot make any changes or enroll in a new plan until October 15.

Comparing all aspects of your plan is crucial to do if you are on Medicare Part D or Medicare Advantage. Both types of plans can change each year in terms of premiums, coverage levels, deductibles, and networks.

Can You Change Medicare Supplements During Medicare Open Enrollment?

The types of plans that are not in any way connected with the Annual Election Period are Medicare Supplement plans, also called Medigap. Medigap plans are plans from private companies that fill in the gaps in Medicare Parts A and B.

Open enrollment for Medigap is a 6-month period that begins on the first day you are in Medicare Part B, whether that is the month of your 65th birthday or later than that if you delay Part B enrollment. During that time period, you do not have to answer medical questions or qualify to get a Medigap plan. You can choose any plan from any company on an open enrollment basis.

After that initial 6 month window, regardless of the time of year that it is, you DO have to answer medical questions to get a Medigap plan (with a few exceptions of some states that prohibit underwriting in certain situations or at all).

So, yes, you can change your Medicare Supplement during the annual election period. However, you cannot do so an “open enrollment” basis – you will have to answer medical questions and get approved by the new insurance company in order to change your plan.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information or would like to see if there is a mutual fit to work together, you can contact us online or call us at 877.506.3378.

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The advantage of utilizing such a “birthday rule” open enrollment is that you can change to a lower premium plan that would provide you with the same medical coverage. Often, once you have been on a Medigap plan for a few years, the price has gone up a few times and there are potentially less expensive/same coverage options.

So, what states offer a “birthday rule” open enrollment period and how does those periods work? We’ve listed out the states that offer this provision, as of the date of this article, with some details about how it works in each state (varies by state).

California Birthday Rule

California was one of the original states to enact a “birthday rule” for Medigap open enrollment. In CA, the birthday open enrollment period lasts for 90 days, beginning 30 days before your birthday and ending 60 days after your birthday. During this time period, you can elect a new Medigap policy with equal or lesser benefits. The coverage will not be made effective until after your birthday (usually the 1st day of the following month) or beyond 60 days from the application date.

Idaho Birthday Rule

Idaho is one of the newer states offering the birthday rule to change Medigap policies. In ID, there is an annual 63 day open enrollment window during which you can replace your Medigap policy with a policy of equal or lesser benefits. Like CA, coverage will not be made effective until after your birthday or beyond 60 days from the application date.

Illinois Birthday Rule

Illinois is also a newer state offering the birthday rule. In IL, the birthday open enrollment period lasts for 45 days beginning on your birthday. During this time, you may replace your Medigap plan with a plan of equal or lesser benefits. There are two unique aspects of the IL birthday rule. First, you must be between the ages of 65 and 75 in order to make a change in IL using this birthday rule. Second, you must be changing to a plan offered through your current insurance company (i.e. an equal or lesser plan offered through a different subsidiary company of your current insurance company).

Kentucky Birthday Rule

The Kentucky birthday rule is an annual open enrollment period that lasts for 60 days. It begins on an individual’s birthday. During this time period, you can change your plan to a “like” plan with a different insurance company. For example, if you have Plan G with company X, you can switch to Plan G with company Y. The coverage would begin on or after the individual’s birthday (but no more than 60 days from their birthday).

Louisiana Birthday Rule

Louisiana’s birthday rule for Medigap, which just took effect in 2022, is an annual open enrollment period lasting 63 days and beginning on your birthday. To use this period, you must select a plan of equal or lesser benefits. Like the birthday period in IL, you must also select a plan through the same insurance company as your current Medigap plan. Coverage cannot be made effective prior to your birthday or beyond 60 days from the application date.

Maryland Birthday Rule

Maryland is one of the most recent states to pass birthday rule legislation for Medigap. The Maryland birthday rule for Medicare Supplement enrollees took effect on July 1, 2023. You must be in an active Medigap plan (not any other type of Medicare plan) at the time of eligibility to use this new rule. The Maryland rule specifies that you can switch to a Medigap plan with any carrier offering equal or lesser coverage. The time period for this eligibility period begins with your birthday each year and lasts up to 30 days after your birthday. During this birthday rule period, changes you make to your Medigap coverage are not subject to underwriting or health questions.

Missouri Birthday Rule

The Missouri birthday rule allows you to terminate your existing Medigap policy and select the same plan from a different company within 30 days of your policy anniversary date each year. Using this rule, you have up to 63 days from the termination date of your current plan to select a “like” plan from a new company and avoid going through medical underwriting.

Nevada Birthday Rule

Nevada’s annual open enrollment period lasts for 60 days and begins on the 1st day of your birthday month. During this time, you can replace your Medigap policy with any policy offering equal or lesser benefits without undergoing medical underwriting. Coverage cannot be made effective prior to your birthday or beyond 60 days from your application date. Get quotes on NV Medigap plans here.

Oklahoma Birthday Rule

The Oklahoma birthday rule lasts for 60 days and begins on your birthday. You are required to be currently enrolled in a Medicare Supplement with no gap in coverage greater than 90 days since your initial enrollment. You can replace your policy with a new policy with equal or lesser benefits. To use this birthday rule, you must both prove your current enrollment and have a statement from your insurer stating that you have not had a gap in coverage of more than 90 days since the effective date of coverage. Applications using the Oklahoma birthday rule can be submitted up to 30 days before your birthday, but coverage will not be made effective until your birthday or beyond 60 days from the application date.

Oregon Birthday Rule

Oregon’s annual open enrollment lasts 60 days, beginning 30 days before your birthday and ending 30 days after your birthday. During this time, you can replace your policy with a policy of equal or lesser benefits. Coverage cannot be made effective prior to your birthday or beyond 60 days after your application date.

Washington Open Enrollment Period

Washington’s open enrollment period is unique in that it is not tied to your birthday. Using WA’s open enrollment period, you can switch any time of the year to a “like” plan without underwriting or providing medical information. Also, with most plans, including B, C, D, E, F, G, M, or N, you can switch to any of those plans with a different company, regardless of whether it is higher or lower in benefits.

States with Year-Round Open Enrollment for Medigap

In addition to the states that have specific, annual open enrollment periods, there are a few states that have year-round open enrollment periods for people on Medigap plans.

As of the time of this article, there are three states that offer this: Connecticut, New York, and Vermont.

Other Considerations and Factors

Remember that you can change Medigap plans in any state at any time. The end-of-the-year annual election period (AEP), which many people refer to as Medicare open enrollment does not pertain to Medigap policies. However, if you are in one of the states listed above and you wish to change your plan outside of the state-specific periods, you will likely have to go through medical underwriting and be “approved” to change plans.

These state guidelines can change over time. It is always advisable to check with your specific state or a licensed independent broker who can advise you on your options and provide you with a list of the Medigap options available to you.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information or would like to see if there is a mutual fit to work together, you can contact us online or call us at 877.506.3378.

The post What is the Medigap “Birthday Rule” and Which States Have It? appeared first on 65Medicare.org.

With Medicare Supplement plans, the plans are completely Federally-standardized. All companies are required to offer the same coverage options from the standard Medigap coverage chart. This means that each company will provide the same coverage. Therefore, it is easy to make an “apples to apples” comparison on the coverage that Medicare Supplements offer. A Plan G, for example, with one insurance company is the exact same as a Plan G with a different insurance company.

In addition, all Medicare Supplements can be used at any doctor/hospital that takes Medicare, so there are no network considerations like there are on other types of medical insurance. Lastly, the claims for Medicare Supplements are all processed through the same Medicare “crossover” system, so there is no variation in how well or how fast a Medicare Supplement company pays claims.

Despite these standardizations, there are some Medicare Supplement companies that are larger or more notable than others in terms of plan availability and historical stability. We’ve listed those below in our list of top 10 Medicare Supplement insurance companies.

Mutual of Omaha Medicare Supplements

Mutual of Omaha offers plans through several subsidiary companies, and those subsidiaries vary in different states. They have been in business for over 100 years, and they have an ‘A+’ rating by AM Best. They also offer an industry-leading 12% household discount and do not require the other household resident to be a policyholder in order to get that discount (there are some state-specific exceptions to this). In most states, they are competitively priced and are a solid option to consider for Medicare Supplement coverage. You can enroll in a Mutual of Omaha Medicare Supplement plan online.

AARP Medicare Supplement plans, insured by United Healthcare

The AARP Medicare Supplement plans, insured by United Healthcare, are also a great option to consider for Medicare Supplement coverage. They offer a wide variety of the standardized plans and offer plans in all 50 states. You do have to be an AARP member in order to be eligible to sign up for one of their plans. They also offer discounts for paying by monthly bank draft as well as a household discount (discount percentage varies by state) for those eligible.

Aetna Medicare Supplements

Aetna is another of the Medicare Supplement insurance companies that you may want to consider. As one of the largest providers of Medicare Supplement plans nationally, they also offer plans through the parent company or a subsidiary company in most states. Typically, you will find them to be one of the more competitively-priced options in most locations. They have an easy-to-use policyholder website and a household discount in most states.

CIGNA Medicare Supplements

CIGNA Medicare Supplements are one of the more popular options nationally as well. CIGNA offers plans through one of their subsidiary companies in most states. They also have the largest available household discount for two members of the same household signing up for their plans (20% in most states).

Humana Medicare Supplements

Humana is one of the largest providers of multiple types of Medicare insurance. Humana’s Medicare Supplement plans come in as very competitively priced in some states, but as with all of these companies, it is important to note that rates vary considerably depending on where you live. Humana offers many of the standardized Medicare Supplement plans in most locations, and they often have some of the most competitive rates on the high deductible Plan G.

ACE Medicare Supplements

ACE is a newer company to Medicare Supplement plans; however, ACE Medigap plans have a great rating and have been offering other types of insurance such as property and casualty for a long time. In many states, their rates, as of the publication date of this article, are among the lowest available on common plans such as Plan G and Plan N. Because they are newer to offering Medicare Supplement plans, some may want to give them some time to see how their rates hold up over time, but they are definitely an option to keep an eye on and consider for Medicare Supplement coverage.

United American Medicare Supplements

United American makes the list of best Medicare Supplement insurance companies as well. Their rates are not as competitive in every state, but they do excel in certain geographic areas and for certain plans (specifically, they often have great rates on the high deductible Plan G). United American has been in business for many years and has solid ratings for financial strength.

New Era / Philadelphia American Medicare Supplements

New Era and Philadelphia American are “sister” companies that offer Medicare Supplements. Although they are lesser known than some of these other companies, they have historically had competitive pricing and reasonable rate histories. In some locations, they have had some of the lowest rates for several years. When comparing Medicare Supplement insurance companies, you will find that they often come up as one of the lower priced options.

Medico Medicare Supplements

Medico and their subsidiary companies have been offering Medicare Supplement insurance plans for many years. They have a large household discount (10% in many states) and often come in near the lowest rates for Medicare Supplements. In many areas, they also offer a dental/vision that can be paired with their Medicare Supplement plans.

Manhattan Life Medicare Supplements

Manhattan Life is one of the smaller of these companies as well, but they have been offering Medicare Supplement plans for many years and typically have very competitive pricing. They give a solid 7% household discount in many states and have an AM Best rating that has increased in recent years.

The Bottom Line: Top Medicare Supplement Insurance Companies

The bottom line on choosing from the available Medicare Supplement insurance companies is that it is very specific to your situation – where you live, your age, and whether you qualify for any of the various household discounts that the companies offer. Because of this and because of the plan standardization, it is not feasible or accurate to say one company is the “best Medicare Supplement company”.

However, there are companies that are larger than others, have longer track records, and higher ratings than their counterparts. When you are shopping for a Medicare Supplement, it is prudent to view all of the available plans to you and make a selection based on the premiums they offer and their history and ratings. You can get a list of the plans for your area, delivered by email, if you want more information customized to your situation and location: request Medicare Supplement list.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. We have worked with 10,000+ Medicare-eligible individuals over the last 10+ years, assisting with understanding and comparing the plans. You can get a list of Medigap quotes in your area. Or, if you have any questions about this information, you can contact us online or call us at 877.506.3378.

The post Medicare Supplement Insurance Companies: Top 10 to Consider appeared first on 65Medicare.org.

Who Needs to Sign Up for Medicare

First and foremost, you need to know whether you even need to sign up for Medicare. If you are already receiving Social Security benefits prior to turning 65, you should be enrolled into Medicare A & B automatically as of the 1st day of the month that you turn 65. If this is the case, you will receive your Medicare card in the mail about 3 months prior to your Medicare start date.

If you are planning to continue working or are covered under an employer/group plan that you plan to keep even after you are Medicare-eligible at age 65, you do need to sign up for Medicare. In this case, you are permitted to delay enrollment into Medicare and sign up at a later time, without penalty, when you drop or lose that employer/group coverage.

If neither of the above-mentioned circumstances apply to you, however, you will need to proactively sign up for Medicare.

How to Sign Up for Medicare

Signing up for Medicare can be done all online now. You can complete that process at this link on Social Security’s website: Sign up for Medicare | SSA. You will need some basic information about yourself in order to successfully sign up, including your Social Security number, where you were born (city, state, country), your date of birth and information about your current health insurance.

Alternatively, if you do not wish to sign up for Medicare online, you can also sign up by going to a local Social Security office.

When To Sign Up for Medicare

So, when should you sign up for Medicare? If you are planning to go on Medicare as your primary coverage when you turn 65, it is advisable to sign up for Medicare 2 or 3 months before your Medicare start date. Your Medicare start date would be the 1st day of the month that you turn 65, unless your birthday is on the 1st of a month, in which case your Medicare start date would be the first day of the preceding month.

If you are already over 65 and just need to add Medicare Part B, you can also do that online. And, you should do it at least a few weeks before you want your Part B to begin, when possible. Signing up for Medicare in advance ensures that you will have time to get your Medicare card in the mail prior to the start date of your Medicare coverage.

Signing Up for Other Medicare Plans

Around the same time that you sign up for Medicare itself, you should also consider any other Medicare-related plans that you need. Medicare Part D is the part of Medicare that covers prescription drugs so if you plan to stay with “original” Medicare (Medicare A & B vs Medicare Advantage), you will also need to add a Part D plan to have drug coverage.

Likewise, if you want to have coverage to fill in the gaps in Medicare A & B, the best time to sign up for that is during your initial open enrollment period when you turn 65. You can compare Medigap policies at this time to choose a Medigap plan that fits your specific needs and is available in your area.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. We have worked with 10,000+ Medicare-eligible individuals over the last 10+ years, assisting with understanding and comparing the plans. You can get a list of Medigap quotes in your area. Or, if you have any questions about this information, you can contact us online or call us at 877.506.3378.

The post How to Sign Up for Medicare When You Are Turning 65 appeared first on 65Medicare.org.

First, let’s start with a basic fact – just like most other things in our lives and other types of insurance, your Medigap rate is going to go up over time! No matter what your insurance agent told you when you signed up, it is going to go up over time. Now, different companies may go up different amounts and future increases are very difficult to predict because they are based on claims ratios, changes to Medicare, and inflation – three variables that are uncertain. One thing that is not uncertain, though, is that the rate is going to go up. (Related: How Much Do Medigap Premiums Go Up Each Year?)

With that basic fact out of the way, WHEN it does go up, you should receive a notification by mail from your insurance company about 30-60 days in advance of when the rate is going to change. For most companies, rate changes occur in your policy anniversary month. This is usually your birthday month, assuming that you signed up for a Medigap plan the month you turned 65. The letter you receive will contain your new rate and should act as a prompt for investigating whether it makes sense to stay with the same plan or explore other options.

In most cases, especially if you have had the same Medigap plan for more than a year or two, there will be other options available for equivalent coverage (all plans are standardized – Medigap coverage chart) at a lower premium. If you have a broker, the broker should be able to easily provide you with a full list of plans so you can see how your rate compares to what else is available for your zip code and age. If you can save money for the same plan, it may make sense to change to a different company.

When Can You Change Your Medigap Plan?

Contrary to common misconception, you can change your Medigap plan at any time of the year. You don’t have to, and really shouldn’t, wait until the end of the year to change plans. The end of the year annual election period (what people call “open enrollment”) is all about Part D and Advantage plans and does not have anything to do with Medigap. Moreover, there are more people changing plans at that time of year and underwriting is different and slower.

The best time to change your Medigap plan is one month before your rate increase is going to take effect, making the new plan effective on the date that your current plan is changing its rate. In other words, in a hypothetical situation, you get a notice that your plan is going up in late April and the change is going to take effect on your policy anniversary date of 6/1 because that is your birthday month and you signed up when you turned 65. Once you get that notice, you review other plan premiums and see that you can save $40/month by switching from your current Medigap company to a different Medigap company for the same Plan G coverage. You can do an application in April or early May for a 6/1 effective date (usually takes 7-10 business days to be approved) and avoid the increase and save some money while keeping the same coverage.

How Do You Change Your Medigap Plan?

Changing Medigap plans is relatively easy to do, particularly if you are in pretty good health. When you first turn 65 or start on Medicare, you have an open enrollment during which you do not have to answer medical questions or be approved into a Medigap plan. However, after that initial 6 month open enrollment period, you do have to “qualify medically” in most instances (exceptions: states that have a birthday rule).

So, part of the changing process will be completing an application, providing health/medication information and going through review by an underwriter.

But the first step to changing your Medigap plan is reviewing Medigap quotes. This can be done by contacting your Medigap broker if you have one. He or she can provide you with a list of available Medigap plans and their premiums and even make recommendations based on their previous experiences with the different companies.

Once you have selected a new plan to apply for, you would complete an application for the new company. This can typically be done online or by phone in a matter of minutes. It usually takes about 7-10 days for the new company to review your application and approve it.

Medigap Underwriting Process

As mentioned above, a new Medigap policy will need to go through underwriting unless you fall into a unique situation or live in one of the states that has a “birthday rule”.

This underwriting process varies from company to company, as all companies ask different health questions and have different requirements. Aside from filling in health and medications information on the application itself, you also may need to have a telephone interview with a Medigap underwriter as part of the approval process.

Reviewing each company’s underwriting guidelines and processes is something your Medigap broker should be able to assist with as part of the company selection process.

If you have any questions about this process or would like a list of the plan options available to you, please contact us here or call us at 877.506.3378.

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65Medicare.org is a leading, independent Medicare insurance agency for people turning 65 and going on Medicare. If you have any questions about this information or would like to see if there is a mutual fit to work together, you can contact us online or call us at 877.506.3378.

The post Should I Change My Medigap Plan If the Rate Goes Up? appeared first on 65Medicare.org.