If you've decided to purchase a Medicare Supplement (Medigap) policy to cover some of the expenses Original Medicare doesn't cover, you might be breathing a sigh of relief that you've helped prepare yourself for the costs of your medical care. However, you might have some questions about your policy, like, can my Medicare Supplement policy be canceled by my insurer?
Generally speaking, the answer is no.
According to Medicare.gov, "any standardized Medicare Supplement policy is guaranteed renewable even if you have health problems," which means that "the insurance company can't cancel your Medicare Supplement policy as long as you pay the premium."1
Of course, there are some exceptions in which your insurer could cancel your Medicare Supplement policy. As Medicare.gov notes, if you stop paying your premium, that would be grounds for your insurer to cancel your policy.
The bottom line is, if you want to ensure your Medicare Supplement policy isn't canceled, make sure you pay your premiums on time and that you are honest on your application.
If you're looking for a Medicare Supplement policy, you may notice that you have an array of companies with different standardized plans to choose from. Contact a licensed insurance agent before committing to any one policy or if you have any questions, as this is the best way to guarantee you choose a policy that fits your needs.
Lastly, if you have any additional questions about Medicare or Medicare Supplement policies, please visit Medicare.gov. If you have any questions about your Medicare Supplement policy, please contact your insurance company.
Your style is your choice. Shouldn't your doctor and your coverage be, too?
Coverage of your choice with doctors of your choice are included with plans that don't restrict you to networks of specialists.
1 Medicare.gov, What's Medicare Supplement Insurance (Medigap)?
The purpose of this communication is the solicitation of insurance. United American Insurance Company is not connected with, endorsed by, or sponsored by the U.S. government, federal Medicare program, Social Security Administration, or the Department of Health and Human Services. Policies and benefits may vary by state and have some limitations and exclusions. Individual Medicare Supplement insurance policy forms MSA10, MSB10, MSC10, MSD10, MSF10, MSHDF10, MSG10, MSHDG, MSK06R, MSL06R, MSN10 and in WI, MC4810 and MC4810HD, MC4810HDG are available from our Company where state-approved. Some states require these plans be available to persons under age 65 eligible for Medicare due to disability or End Stage Renal disease (ESRD). You may be contacted by an agent or producer representing United American Insurance Company, PO Box 8080, McKinney, TX 75070-8080. OUTLINE OF COVERAGE PROVIDED UPON REQUEST.
For Ohio, you may verify the agent/broker and United American Insurance Company by contacting: The Ohio Department of Insurance 50 W. Town Street, Third Floor - Suite 300, Columbus, OH 43215. Consumer Hotline: 1-800-686-1526 or TDD Number: (614) 644-3745. For costs and complete details of coverage call or write your insurance agent or the company (whichever is applicable).