Medicare Supplements are Federally-standardized – that is, they are the same in each state (with a couple of exceptions). One of the most commonly-asked questions about Medicare Supplement plans is just what happens to the plans when you move. There are two different “sub-areas” within this question that determine the answer to the larger question of what happens to your Medigap plan when you move. The “sub-areas” are: in state moves (moves to another part of your current state) or out of state moves (moves from one state to another). We will touch on both of those situations below.
Moving in-state is very straight-forward with Medicare Supplement plans. First and foremost, you do NOT have to change your Medicare Supplement when you move to another part of your state if you do not wish to do so. Companies are licensed by the state departments of insurance to do business statewide, so if a company that insures you currently operates where you live now, nothing will be different about that when you move to a different part of the same state. So, put simply, nothing happens to your Medicare supplement coverage when you move to a different part of the state.
However, it is important to understand that rates are always based on your zip code of residence. So when you move, it is possible that you will move to a less (or more) expensive area, in which instance your rates will adjust to the prevailing rates of your new zip code.
Also, with this in mind, one consideration you should remember is that you can re-evaluate your plan options based on your new zip code, and it is possible that there is another company/plan that has lower rates for your new zip code, allowing you to save hundreds or thousands of dollars a year in premiums for the same coverage. To find out quickly, visit Medicare Supplement rates by zip code.
Out of State Moves
Although out of state moves may seem more complex, in reality, they are not for the purposes of Medicare Supplement plans. Just like what is detailed above, when you move to a new state, you do NOT have to change Medicare Supplement plans. The plan are national plans and they are fully portable. If you travel, your coverage is the same at any doctor/hospital that takes Medicare nationwide, whether you are moving or just traveling temporarily.
Now, you must change your address with the insurance company in all cases. This, as mentioned above, may have an impact on your premium. However, you can keep the same plan and there are no “Guaranteed issue” provisions allowing you to change without medical underwriting. If you do elect to change, you do have to go through medical underwriting.
However, a change may be worth it, as depending on where you move from/to, rates can vary by as much as $100-200/month in different states – even for the exact same coverage. So it is definitely worth it, when you move, to evaluate the availability of different plan options.
If you want this information delivered by email, please fill out a request on our website at Medicare Supplement rates by email or call us at 877.506.3378.