Switching Medicare Supplemental Plan G Insurers

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Topic Author
Prudence
Posts: 920
Joined: Fri Mar 09, 2012 3:55 pm

Switching Medicare Supplemental Plan G Insurers

Post by Prudence »

My wife and I have been covered by Blue Cross Blue Shield Carefirst in 2021 (and in prior years). Carefirst (Plan G) has been fine, no issues. Carefirst is increasing our premiums by about $50.00 a month starting January 1. We can both save about $50.00 a month by switching to Mutual of Omaha (me) and AARP United Healthcare (her). We submitted applications, answered the medical underwriting questions honestly, spoke to the underwriting department personnel who called us, and were approved. If we continue with Carefirst, they can't deny us for pre-existing conditions (no application or underwriting questions are required). I am concerned that if we switch, the new insurers may dig up some reason to claim pre-existing conditions and deny some future claims. If this is a real risk, I am wondering if it is wiser to keep Carefirst and pay the higher premiums (50 + 50 = 100 bucks a month for the two of us). I am wondering if any of you have switched insurers to reduce premiums and have regretted it.
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David Jay
Posts: 14587
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Switching Medicare Supplemental Plan G Insurers

Post by David Jay »

Prudence wrote: Tue Nov 30, 2021 11:12 amI am concerned that if we switch, the new insurers may dig up some reason to claim pre-existing conditions and deny some future claims.
Medigap policies are not allowed to deny coverage for pre-existing conditions once they have approved you and you have purchased the coverage (paid the first month's premium) if you had 6 months of creditable coverage with a previous insurer with the same coverage (i.e. Plan G to Plan G).

This link states it pretty clearly: https://libertymedicare.com/medicare-su ... onditions/

"If you switch from one Medigap policy to another Medigap policy with the same benefits, the insurance company cannot exclude your preexisting conditions if you had 6 months or more coverage with the previous company. "
It's not an engineering problem - Hersh Shefrin | To get the "risk premium", you really do have to take the risk - nisiprius
bradinsky
Posts: 2299
Joined: Sat Jul 21, 2018 6:32 am
Location: Ohio

Re: Switching Medicare Supplemental Plan G Insurers

Post by bradinsky »

DW & I switched our G plan from United Healthcare to Medical Mutual of Ohio in 11/2019. We both have preexisting conditions & they took us, no questions asked. We saved about $600 combined per year & couldn’t be happier!
rivercrosser
Posts: 349
Joined: Thu Oct 31, 2019 3:48 pm

Re: Switching Medicare Supplemental Plan G Insurers

Post by rivercrosser »

Don't forget that some companies give you a discount if you both use them. We get 5% back on ours. Here in Missouri if you change your provider on your plans anniversary and stick with the same plan they can't ask you questions or penalize you.
bradinsky
Posts: 2299
Joined: Sat Jul 21, 2018 6:32 am
Location: Ohio

Re: Switching Medicare Supplemental Plan G Insurers

Post by bradinsky »

In Ohio some supplemental insurance providers require medical underwriting to switch.
Topic Author
Prudence
Posts: 920
Joined: Fri Mar 09, 2012 3:55 pm

Re: Switching Medicare Supplemental Plan G Insurers

Post by Prudence »

I feel more comfortable about the switch now. Thanks all. (BTW, we live in Maryland).
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