Here in the state of California we actually have what’s called the Birthday Rule for Medicare Supplement policies.
What the Birthday Rule states is that you can switch your Medicare Supplement plan like to like or you can also switch plans if you are downgrading Supplemental plans.
Medicare Supplement plans are standardized by the government so a Plan F with one company has identical coverage to a Plan F with all the other companies.
For example, let’s say a client of ours with a Plan F feels they are starting to pay too much for their premiums. We can then, during their birthday month, look at other Plan F Medicare Supplements with other insurance carriers.
If we find them a plan that looks like it’s going to be less expensive or there’s better service or whatever the reason may be, we can switch them plans during their birthday month each year.
Or let’s say they wanted to stay with the same company but just downgrade plans so for example, move from a Plan F to the Plan G. The only difference between a Plan G and a Plan F is that on the Plan G, the member would be responsible for paying the Part B deductible ($185 in 2019).
Because the Plan G covers one less “gap” in Medicare compared to the Plan F, that would technically be a downgrade in plans and someone could make that switch. A lot of times the difference in monthly premiums can be substantial.
On top of that, this can all be done as a guarantee.
This is important for us because not all states have this rule and it gives us the flexibility to be able to freely move our Medicare Supplement clients where in other states, it may require medical underwriting in order to switch our client’s plan.
So if you live here in California, you have a Medicare Supplement policy and you’re interested in looking into other options for that Supplement then mark your calendar for your birthday and make a note to call Martin & Associates at 800-464-4941.
If you would like more information on Medicare, request a copy of The Nuts & Bolts of Medicare book here and we will mail it out to you.
Thanks for reading!
