Underwriting: Medigap Plan G - keep Plan G but change to another company's Plan G

[Ghaeilge1975]

 Hello,

 If I keep Plan G Medigap insurance but change companies, would that require underwriting?  Just learned about underwriting and not sure if it applies to Plan letter changes or if it applies to any kind of change such as changing to another company offering Plan G.

 I have UHC Plan G and unhappy with their mid-year rate increases for two years now.  

Thank you.

[GailL1]

@Ghaeilge1975 

It may - depending on the state that you live in and if they have any added guaranteed issue periods legislated at the state level.

What state do you live in and I can see if that state has anything special about changing Medigap plans after your initial enrollment period.  You can always talk to a SHIP representative or a Medicare Insurance broker.  Many are independent agents that work with many different companies - UHC has captive agents - they only work with UHC plans.  

Underwriting can apply anytime you are changing a Medigap plan - insurer or plan itself, once past that initial enrollment period unless your state has expanded this time period.  I will also say that states that have done this also have higher rates as I am sure you understand.

Some links for you -

Medicare.gov - 2024 Medigap Guide - specifically Section 5 - page 32

Medicare.gov - Can I switch or Drop my Medigap policy? 

Medicare.gov- Can I change my Medigap policy? 

It isn’t just underwriting either - underwriting is when an insurance company will charge you a higher amount for a Medigap plan because you are outside of your Guaranteed issue (GI) period and have some health problems.  But in many states, the insurer can also decline to cover a specific pre-existing condition for a specific period of time (state specified) or they may decline to cover you at all.  

Medigap policies are not health insurance, they are more related to financial protection insurance.  So with that in mind, if there are health issues maybe you would have a better likelihood of getting another policy with another company or even the same company if you went with a lesser plan and had more skin in the game so to speak - like a High Deductible Plan G and the premiums are MUCH, MUCH less.