Switching from Plan F to Plan G

[wehotex]

As we move closer to the end of the year, Plan F seems better than Plan G for the remainder of the year, and then change to Plan G on Jan 1 of the following year, where the savings is more visible. Can someone enroll into Plan F and then "downgrade" into Plan G?

 

[Justin Bilyj]

As long as they can pass underwriting. Now will they have a deductible to pay if they "downgrade" mid season? Depends on if their required deductible has been met by their plan F already due to doc visits etc.
Not sure if I answered your question or not...

 

[vic120]

Also I think some carriers pay reduced commission when switch is with same carrier

 

[goillini52]

As we move closer to the end of the year, Plan F seems better than Plan G for the remainder of the year, and then change to Plan G on Jan 1 of the following year, where the savings is more visible. Can someone enroll into Plan F and then "downgrade" into Plan G?

CSI Life allows it.

CSI Life allows existing Plan F customers who were originally Open Enrollment or Underwritten (Guaranteed Issue does not apply), the option to change to Plan G without taking a new application!
All that is required is a signed, dated note from the insured making the request to change, and a new $25 app fee (and checklist if Illinois)... that's it!
CSI will make the change on the next modal premium date. Agents will be compensated on the remaining years of the original policy.

 

[G.Gordon]

CSI Life allows it.

CSI Life allows existing Plan F customers who were originally Open Enrollment or Underwritten (Guaranteed Issue does not apply), the option to change to Plan G without taking a new application!
All that is required is a signed, dated note from the insured making the request to change, and a new $25 app fee (and checklist if Illinois)... that's it!
CSI will make the change on the next modal premium date. Agents will be compensated on the remaining years of the original policy.

Looking at the UW guide it says that they require medical underwriting regardless of the change in benefits in the next paragraph after saying if you're downgrading all that is needed is a signed request.

To downgrade to a plan with a decrease in benefits, we will require a signed request from the insured. Please note: If an internal replacement originally qualified for guarantee issue, the insured will only be allowed to downgrade to a plan with decreased benefits available under the pertinent guarantee issue rule. Please see Guarantee Issue Rules on pages 7 and 8.

If an applicant wishes to replace a Medicare Supplement issued by Central States Indemnity or CSI Life, a fully completed application with medical underwriting will be required regardless of the change in benefits

 

[Newby]

As we move closer to the end of the year, Plan F seems better than Plan G for the remainder of the year, and then change to Plan G on Jan 1 of the following year, where the savings is more visible. Can someone enroll into Plan F and then "downgrade" into Plan G?

Jan 1st is the WORST time to switch from F to G. Recommend that they wait until Feb 1st at least. And go in for a doctor's visit in January.

They will love you for it.

 

[goillini52]

Looking at the UW guide it says that they require medical underwriting regardless of the change in benefits in the next paragraph after saying if you're downgrading all that is needed is a signed request.

To downgrade to a plan with a decrease in benefits, we will require a signed request from the insured. Please note: If an internal replacement originally qualified for guarantee issue, the insured will only be allowed to downgrade to a plan with decreased benefits available under the pertinent guarantee issue rule. Please see Guarantee Issue Rules on pages 7 and 8.

If an applicant wishes to replace a Medicare Supplement issued by Central States Indemnity or CSI Life, a fully completed application with medical underwriting will be required regardless of the change in benefits

In my post it clearly says that if a policy was originally written as GI, it doesn't qualify for the no app downgrade.

"CSI Life allows existing Plan F customers who were originally Open Enrollment or Underwritten (Guaranteed Issue does not apply)"

 

[DeadSlash]

The wildcard here is how the individual insurance company handles it. When J went away WellPoint offered their customer the chance to switch to Plan F with no underwriting for at least a year, I think it was even longer.... it's been a while.

 

[gordon112]

Even BCBS of MI has medical UW when switching to any plan even coming off an F as a downgrade.

This doesn't apply to legacy but we all know how legacy ended.

 

[agentjhc]

I'm not an actuary, underwriter, etc...but wouldn't allowing folks to move "down" in coverage save the company $$$ in the long run?