Having a Medicare Supplement plan in California offers a significant advantage over other states www.medigap2017.com. As a California Medicare Supplement member you are allowed to switch companies every year on the month of your birthday without medical underwriting. You are allowed to apply to a different company at anytime throughout the year, although if not during the month of your birthday, the new company will send the application to the underwriting department, which means, they will review your current health status and are not obligated to approve your submitted application.
If you submit the application during the month of your birthday, your enrollment is guaranteed as long as the applied for plan has equal or less benefits. So, if you currently have a Plan F through a certain company and their rates become uncompetitive, you should look into other companies with lower monthly rates. All California Medicare Supplement companies go through annual rate adjustments. sometimes rates will even go down, depending on loss and claims ratios within a certain zip code or county. Regardless of your current or past health status it is a wise move to compare rates and company ratings yearly. Spending a little time each year reviewing company rates, will most likely save you quite a bit on premium.
Only two states offer this opportunity, California and Missouri. All other states the member must pass the applied for company underwriting guidelines. If you are a California resident and would like to switch to a different company, not during your birthday month, and you are currently undergoing treatment for a certain condition or have been advised to have future treatments or surgery, I would advise you to talk to a licensed Medicare Supplement agent who can direct you towards the appropriate companies to apply to. All California Medicare Supplement companies ask different health questions on their applications. Some are very thorough with their underwriting questions and other are very lenient with their guidelines. A licensed California agent will be able to help you select the appropriate company, depending on your current health status.
Having the opportunity to switch Medicare Supplement companies on an annual basis, offers tremendous flexibility to California residents. You should not be penalized simply because a company becomes unprofitable, and decides to raises it rates faster and more aggressively than other Medigap companies. Use this law as a tool, and make sure you are with a competitive company of your choice. Call a Medicare Supplement specialist today to discuss your options.