3 Things To Know About Your Medigap Policy When Moving To Another State

There are several reasons why you may be moving to another state when you retire: nearer to family, "plentiful recreational opportunities, affordable real estate, or top-notch medical centers", just to name a few. But have you thought about what will happen to your Medigap policy when you move? Here are 3 things you need to know:

1. Make sure you keep your Original Medicare (Part A and Part B). This will allow you to keep your current Medigap policy when you move to another state.

2. Buy a new Medigap policy during your Open Enrollment Period. This 6-month period starts the first month you have Medicare Part B and you are 65 and older. Other states may have other Open Enrollment periods. Check with your Licensed Insurance Agent or most importantly, with your State Health Insurance Program or State Insurance Department. For the State of Maryland, you can call, 1-800-243-3425 or 1-800-492-6116, respectively.

3. If you currently live in Massachusetts, Minnesota or Wisconsin and have a Medicare

SELECT policy and you plan on moving out of theses areas, you can do the following:

• Buy a Medigap policy with standardized benefits with equal or fewer benefits than your current Medigap SELECT policy. And, if you had your Medicare SELECT policy for 6 or more months when you buy your new Medigap policy, you WILL Not have to answer any medical questions.

• Use your guaranteed issue rights (your rights to buy certain Medigap policies in limited situations outside of your Medigap Open Enrollment Period) when you buy and switch to Medigap Plan A, B, C, D, F, G, K or I from an insurance carrier in your current state or the new state (you are moving to)!

Please note: Consumers that are new to Medicare on or after January 1, 2020, are not eligible to enroll in Plans C and F. But if you were eligible prior to January 1, 2020, but have not enrolled, you may be able to purchase Plan C or Plan F. Consumers new to Medicare on or after January 1, 2020, can buy Plans D or G instead of Plan C or F.

We hope this information has been helpful to you, If you are planning on moving to another state and you want to purchase a Medigap policy, please contact Benefits-for-Retirees. We will be happy to assist you.

"All mankind is divided into three classes: those that are immovable, those that are movable, and those that move.” ~ Benjamin Franklin

Resources:

• Planning to Relocate in Retirement

• 2024 Choosing a Medigap Policy

• Metropolis Moving