Changing Medigap Plan After Purchase
By law, when a Medigap policy has been purchased, there is a 30-day “free look” or trial period. The plan can be canceled, and money refunded if unsatisfied with policy during the 30 day period. If switching Medigap plans, do not cancel policy until after the free look period is up or two premiums may end up being charged for 1 month. It is possible to switch back to the first plan if needed.
Medigap Coverage for Pre-Existing Conditions
If there’s a pre-existing condition and no creditable coverage (6 months minimum) when enrolling in Medigap, Medicare providers can impose a “pre-existing condition waiting period” and refuse to cover prior medical conditions for up to 6 months. This period depends on how many months there was no creditable coverage. Most forms of health coverage count as “creditable” if there is no break in coverage for more than 63 days.
A prior or pre-existing condition is a condition or illness that was diagnosed with or treated for before new healthcare coverage began.