Is choosing another insurance company a good idea?
I'm 55, am on total disability, and I have Medicare A, B, and now part D. I also have had to buy a supplemental policy with United American (Medicare supplement). Can I buy a supplemental policy with someone else? I had a six month waiting period for previous injuries. The cost keeps going up.
Many people find themselves in the same boat as you, realizing that the first Medigap insurance policy that they bought is no longer the best or most affordable for them. You always have a right to switch to a new policy, but unless you are still within six months of when you first enrolled in Medicare Part B, an insurance company is not required to sell you any particular Medigap policy. Instead, an insurance company whose policy you're interested in might require you to undergo a medical screening, which would include examination of your health history and perhaps even a physical exam by an insurance company doctor.
If the insurance company finds that your medical history makes you too much of a risk (to their profits), they can decline to sell you a policy. Or, instead of turning you down altogether because of your medical history, an insurance company might offer to sell you a new Medicap policy but with a long preexisting condition exclusion. And for any policy a company does agree to sell you, it can charge a higher premium than it does for people buying the same policy when first enrolling in Medicare.