Several years ago I signed up for Medicare Plan F since the agent said that was best. I have now researched several other plans and would like to switch to plan G since it would cost several hundred dollars less even after paying the deductible. My agent tells me that I cannot switch plans without medical underwriting which I would not pass. Is this correct or does he just want to keep my premium high? My birthday is coming up in June.
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Switch To Plan G From Plan F
- Thread starter PJL
- Start date
You did not provide enough information that might allow someone to answer your question. What is the name of the insurance company? What are the medical issues you have? What age are you now?
Even with the above answers I could not answer the question, but I am sure it would help someone from the insurance industry answer.
Even with the above answers I could not answer the question, but I am sure it would help someone from the insurance industry answer.
The states of NY and CT are year-round guaranteed issue. You can switch Medigaps anytime of the year without underwriting. California has a "birthday rule" where you can make the change you describe within 30 days of your birthday each year. Most states do not have these types of regulations so you generally have to answer the medical underwriting questions.
Did the agent tell you that you would not pass medical underwriting or do you just think you would not pass? Each company has their own underwriting rules, so if the agent said you would not pass with the least expensive company maybe there is another company with attractive rates that would accept you. Agents only know about the companies they are appointed with and they are not going to be appointed to every company. Try another agent that represents different companies.
Also, some Medigap companies will just exclude the pre-existing condition for 6 months and then it will be covered. Original Medicare will still pay their portion for the pre-existing condition during this time.
If your current Plan 'F' is with UHC/AARP, they usually let you 'downgrade' your plan without underwriting. UHC/AARP does not offer Plan 'G' in most areas but you could go from their 'F' to their 'N'.
Did the agent tell you that you would not pass medical underwriting or do you just think you would not pass? Each company has their own underwriting rules, so if the agent said you would not pass with the least expensive company maybe there is another company with attractive rates that would accept you. Agents only know about the companies they are appointed with and they are not going to be appointed to every company. Try another agent that represents different companies.
Also, some Medigap companies will just exclude the pre-existing condition for 6 months and then it will be covered. Original Medicare will still pay their portion for the pre-existing condition during this time.
If your current Plan 'F' is with UHC/AARP, they usually let you 'downgrade' your plan without underwriting. UHC/AARP does not offer Plan 'G' in most areas but you could go from their 'F' to their 'N'.
This is an update to the above information. UHC/AARP now offers Plan G in most markets and was letting existing members downgrade from F to G without underwriting. They are now revising this internal policy. It looks like courtesy downgrades to Plan N will still be allowed.
"Starting October 1, 2018, members currently enrolled in an AARP® Medicare Supplement Insurance Plan, including Medicare Select Plans, insured by UnitedHealthcare® Insurance Company, residing in all states and territories EXCEPT CA, CT, FL, GU, MA, ME, MN, MP, NY, OR, VI, VT, WA, and WI who wish to change to Plan G will now need to complete a new application and answer all medical underwriting questions to determine a premium rate. This new underwriting policy is in response to UnitedHealthcare’s efforts to maintain stable Plan G premium rates and product competitiveness."
Reference: http://www.psmbrokerage.com/blog/ne...for-aarp-medicare-supplement-insurance-plan-g
Richard M Kershenbaum
New Member
My wife and I both have Plan F in Kansas. The company we are with is now offering an issue-age Plan G for $371 per year less. Obviously, that's more than the $183 Part B deductible that Plan G doesn't cover. My wife is still (barely) within her guaranteed-issue period. I would need to go through medical underwriting to switch, but I think I could probably qualify.
I spoke with our agent this morning, and he is recommending staying with Plan F. He said that 1) he expected the $183 Part B deductible to rise in coming years, and 2) he thought that, because the Plan G offering is new, the company was using a very low rate to attract new sign-ups and that the rate would rise much more than the rate for the long-established Plan F. So he's recommending to his clients that they stay with Plan F (and that new sign-ups get Plan F).
Does this make sense? Just wanted to get some educated opinions before we make a decision.
Thanks for any help with this!!
I spoke with our agent this morning, and he is recommending staying with Plan F. He said that 1) he expected the $183 Part B deductible to rise in coming years, and 2) he thought that, because the Plan G offering is new, the company was using a very low rate to attract new sign-ups and that the rate would rise much more than the rate for the long-established Plan F. So he's recommending to his clients that they stay with Plan F (and that new sign-ups get Plan F).
Does this make sense? Just wanted to get some educated opinions before we make a decision.
Thanks for any help with this!!
1) When the Part B deductible increases, the Plan F premium increases by a similar amount since it covers the deductible. Either way, you are paying for the deductible increase.
2) Some companies are aggressively pricing their Plan G to attract enrollees and increase enrollment. So, it is possible the carrier could increase Plan G rates once they reach their enrollment goal. However, starting in 2020 Plan F will not be enrolling new members. The members left behind in Plan F will become older and sicker. Some expect Plan F rates to increase at a faster pace because of this.
I prefer Plan G because the pool of enrollees are healthier than Plan F enrollees and Plan G historically has lower rate increases than Plan F.
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Richard M Kershenbaum
New Member
Thanks, MBSC! Very helpful info.
Coach Rice
Member
Richard M Kershenbaum
New Member
Yes, starting in 2020. But anyone who has enrolled in Plan F before that can keep it indefinitely.
That will mean that the pool of folks covered under Plan F will be getting older and sicker with time. That should cause the rates for Plan F to go up more steeply than those for Plan G. So it probably makes sense for us to change to Plan G while we can. However, our agent encouraged us to stay with Plan F. He believed that Plan G is now being offered at unrealistically low rates to attract new sign-ups, and that the rates will go up considerably.