Too many people choose one Medicare plan when they first become eligible, based upon their health and finances at the time, from the Medicare plans that were available at that time, and then never go back and review that decision.  In other words, a lot of folks are still wearing the same pair of jeans, every day, that they bought 5 years ago, even if those jeans don’t fit anymore, or have huge holes in them.

 

Why do people do this instead of getting a new, clean pair of jeans?  Because they believe they can’t get a new pair.  Sounds ridiculous right?  But too many people signed up for a Medicare Supplement plan when they first became eligible for Medicare and were told they only had one chance to apply, after they had been on Medicare too long, they would be denied supplemental coverage.  Nothing could be further from the truth.

 

 

 

Medicare Supplement Myths debunked.

 

 

I won’t get approved to switch because of my poor health.  

 

False, you can get approved, even with health challenges, but you need an insurance agent with the expertise to learn all about your health challenges, and match you to a supplement insurance company that will accept you.  Every supplement company is free to decide who they will take and who they won’t and it varies widely by company.  In other words, you need an agent who has taken the time to know which companies will accept your health conditions and which ones won’t.

 

 

I got the best possible plan when I signed up years ago.  Things don’t change that much.  

 

False, new companies enter the market, and Congress makes changes to Medicare supplement plans frequently, creating new plans and taking old plans away.  If you haven’t reviewed your supplement plan in the last few years, you are paying too much. 

 

If I apply with a new company, my current company might find out and cancel me.  

 

False!  All Medicare Supplements are “Guaranteed Renewable for Life” which means by law, you can only be cancelled if you fail to make your premium payments.  

 

 

Applying for a new plan might jeopardize my existing supplement.  

 

False.  We always make sure the new plan has been approved, and policy issued, before cancelling any existing plan to make sure you never go without.

 

 

I might lose benefits if I switch supplement plans now.

 

False.  All Medicare Supplements are “Standardized” or exactly the same by Federal Law.  This makes it simpler to make an apples to apples premium comparison.  You will be shocked at the premium differences for the same coverage, but with different companies.