Colorado can switch from Medigap Plan F to Plan G

NO medical underwriting – NO health questions!

(Special Election Period – SEP)

Normally once you are enrolled in a Medigap plan, you can’t switch to a different Medigap plan without getting approved through medical underwriting.

Good News! Colorado currently has a Special Enrollment Period (SEP) going on this year from January 1, 2021 to June 30, 2021. The Special Enrollment is to specifically allow members on Plan F to switch to Plan G.

Why is Colorado’s Special Enrollment so important?

As of January 2020, newly eligible Medicare members cannot enroll in Medigap Plan F. (Those already on Plan F can stay on Plan F as long as they wish).

The new change was established so that moving forward, seniors joining Medigap would have to pay the Part B deductible ($203 in 2021), before their coverages would start. The idea is by requiring members to pay an out-of-pocket amount first, it may cut down on the overuse of healthcare. However, the unintended consequence of this new law is that Medigap F now cannot have younger and presumably healthier members join the plan. Moving forward, it is very possible that prices for Plan F will increase as the pool of members gets older and there are no more new members joining to offset Medicare claims.

This new “one-time” Colorado Medigap switching opportunity will allow anyone who is in a Plan F and concerned about price increases to switch to Plan G without medical underwriting. Plan G is identical to Plan F except Plan G has the annual Part B deductible of $203 (only once per year).

Below is a current quote from one of the leading national Medicare Supplement companies in the United States. The supplement is for a 67 year old Non-tobacco female in Colorado. Plan F is $167.40/mo. and Plan G is $120.85/mo. By switching from Plan F to Plan G, this member would save $46.55 per month or $558.60 per year!

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