Why Would I Want a Different Medigap Policy?

There are many reasons that you may want to think about switching to a different Medigap policy. You can switch policies at any time but you may not be able to get back your original policy and the same terms that you had with your old policy.

Unhappy with Your Insurance Company?

Switching policies may make sense if you are unhappy with your insurance company. Some insurance companies are difficult to deal with and you may decide that even if you pay more it would be worth it compared to the hassles you have encountered with your current company.

A Cheaper Policy Would Be Better!

Sometimes you may be able to find a policy that is cheaper than the one you have with the same benefits. Insurance companies routinely alter their plans and fee structures and you might be able to find a better policy today than the one you bought before.

This Policy Isn't Right for Me!

The biggest reason people switch policies is that the policy that they have doesn't meet their needs. The current policy may give them more coverage than they use or it might not give them enough coverage. In addition, retirement years are getting longer and longer. The policy that you bought 20 years ago may just not meet your current needs.

As long as you are able to find a new policy that you like and the company accepts you, you can switch Medigap policies at any time. When switching it is best to make sure that you will make it through the underwriting process before you cancel your old plan. In addition, you may need to pay both policy premiums for 30 days when you switch plans. Lastly, make sure to inquire about delayed coverage. Many companies will require a waiting period before new coverage begins.