If your Medicare Supplement plan has been discontinued, you may want to understand how this could happen and what you can do. Here’s some information for you.
Usually, Medicare Supplement (Medigap) plans are “guaranteed renewable.” That means that even if you develop new health conditions, your plan can’t decide it no longer wants to cover you. But there are some situations where you might lose coverage, described below.
Why might my Medicare Supplement plan be discontinued?
There could be several reasons why your Medicare Supplement (Medigap) plan is no longer available to you. For example:
- Your Medicare Supplement insurance company goes out of business
- Your Medicare Supplement insurance company goes bankrupt
- Your Medicare Supplement coverage otherwise stops through no fault of your own
But there are some situations where you could lose your Medicare Supplement policy because of something you did, namely:
- You didn’t pay the monthly premiums for your Medicare Supplement plan
- You gave false information on your application for the plan
Can I get a Medicare Supplement plan if mine is discontinued?
If your Medicare Supplement plan is discontinued through no fault of your own, you may have a guaranteed-issue right to purchase any of these Medicare Supplement plans that’s sold in your state: Plans A, B, C*, F*, K, or L. (In most states, Medicare Supplement plans are standardized with lettered names.) Massachusetts, Minnesota, and Wisconsin have their own differently standardized plans, so if you’re in one of those states, you might want to contact your state insurance department.
A guaranteed-issue right means an insurance company can’t turn you down for a Medicare Supplement plan; can’t charge you more because of your health condition(s); and can’t place conditions on your policy, such as stating that it won’t cover your health condition.
*There have been changes effective 2020 for Medicare Supplement. As of January 1, 2020, Medicare Supplement Plans C and F won’t be sold to anyone who’s not already eligible for Medicare before that date. If you were eligible for Medicare before January 1, 2020, you may still be able to buy Plan C or Plan F, or keep the plan if you have one.
How long do I have to get a new Medicare Supplement plan if mine is discontinued?
If you still want this type of coverage, you need to apply for a new Medicare Supplement policy within 63 days of the day your coverage ends.
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