If you’re on Medicare and live in California, you might be aware of the Birthday Rule. This law allows you to change your Medicare Supplement policy each year to a “like or lesser” plan.
You have 60 days to make this change from your birthday, but most insurance companies will accept an application up to 30 days before. This law helps a lot of people qualify for lower rates than would otherwise be available.
The only issue with this rule is you cannot move up to a new policy. Using the Birthday Rule, you can move from a Plan G to a Plan G for instance, but you could not move from a Plan N to a Plan G. That would be an increase in benefits. Nor could you move from a High Deductible Plan F or G to a regular Plan F, G or N.
We have good news, however!
One of our premier insurance companies is, for a short time, allowing anyone with any type of Medicare Supplement to move to any of their plans no questions asked. This means there is no medical underwriting whatsoever. And you don’t have to wait for your birthday to come around. It’s happening now!
A Medicare Supplement With No Underwriting?
In short, many consumers can benefit from an upgrade. There are several instances where this can help you move to stronger coverage. Maybe you have a High Deductible Supplement, and because of health issues, you haven’t been able to move to a more comprehensive Medigap policy.
Or you might have a Plan N and you’re running into a lot of copays and/or Part B Excess Charges. Or perhaps, you’re just paying too much for your policy and you want less expensive coverage.
Or maybe you want to move you and your spouse to the same policy at the same time and lock in lower rates.
By taking advantage of this timely offer, you can move up to a CA Medicare Supplement policy with better benefits. And when their rates increase? Well, no problem. You can use the Birthday Rule later to find “like or lesser” coverage at a lower rate. You can’t lose.
What Are The Details?
This no-underwriting special runs from October 1, 2021 to February 28, 2020. The latest your policy can be effective is March 1, 2022. You only need to prove that you have an existing Medicare Supplement. That’s all. It can be any Supplement with any company. There are no restrictions. You can upgrade your policy with no medical questions asked.
Is Plan F Available For Purchase?
Yes, Plan F is available for purchase. To qualify, you’ll need to have turned age 65 prior to January 1, 2020 and/or your Part A effective date must be prior to this same date. (These are the same rules that apply to all Plan F changes going forward as mandated by Congress.)
If neither of the two stipulations above apply to you, then the next best policy is a Plan G Medicare Supplement. That’s not a bad thing. Plan G is a great policy that fills in every gap in Original Medicare except for the small Part B deductible. That small amount would be your only out of pocket exposure for the whole year.
And, of course, you can purchase any of their other supplements, like Plan N, D, K, L, etc.
What About Spousal Discounts?
Yes, spousal discounts are available. This is a great opportunity to put spouses on the same plan and enjoy 7% off BOTH of your premiums. With the uniqueness of the Birthday Rule, it’s easy for spouses to get separated and on different plans in CA.
As this current change can be done at the same time with the same effective date, you and your spouse can get on the same plan at the same time. The discounts are available right away.
What If I Have A Medicare Advantage Plan In California?
Unfortunately, this would be an instance when an automatic acceptance would not apply. You can still apply, but you would have to pass medical underwriting. It’s not guaranteed that you would be accepted.
That’s what makes Medicare Advantage plans a little tricky. We always say, they are easy to get into, but can be hard to leave. That’s not always the case, but there is more involved with leaving an Advantage and trying to purchase a Supplement.
Contact Us: Learn About The Insurance Company
They don’t always like us announcing their name, but we can tell you they are very well known, high rated, and respected in the industry.
Give us a call and we can let you know about your options. This is an opportunity for many Californians to upgrade their coverage while saving premiums.
This is the next best thing to having a second Open Enrollment. Contact us today and we’ll give you all the information you need to make an informed decision.