Hi, I’m Trey, a licensed health insurance advisor. And today we’re going to answer the question, can you switch from a Medicare Advantage plan to Medicare supplement plans?
Switching from Medicare Advantage plans to a Medicare Supplement can be done any time of the year. There’s one big hurdle, though, that people have to clear first: And that’s Underwriting. You have to go through answering health history questions in order to get through this Underwriting. It’s going to be up to the private insurance company whether or not they’re going to issue you a policy. The best part is this can be done any time of the year.
Why would somebody want to switch from Medicare Advantage plan to Medicare Supplement plans? Well, mostly it’s because people are tired of how they’re getting their health care. On Medicare Advantage plans, you have little to no monthly premiums, but you have to get stuff done In Network. And you have co-payments for every service you get rendered.
When you switch from an Advantage plan to Medicare Supplement plan, you give up the network. You’re free. You have a recurring monthly premium. You have a low deductible. And then after that, virtually everything hospital and medical is going to be covered between Medicare’s Parts A and B and your private Supplement plan.
This isn’t to say that one is better than the other, but know that you are not locked-in to any one particular policy. Now, the decision is completely up to you whether you want to stick with your Medicare Advantage plan or switch to a Medicare Supplement plan. Just getting it out there, you have the opportunity, any time of the year, if you can get through Underwriting.
Comment down below what you guys think. Perhaps you love Medicare Advantage plans and hate Medicare Supplement plans. And don’t forget to like and subscribe for more videos just like this.
That’s all the time we have for today. My name is Trey Basa with RetirementHelp.com. We’ll see you next time.
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