Assist your Client with Finding a Trusted, Local Medicare Resource
Do you have a Medicare beneficiary client with plans to relocate? Every day, thousands of seniors are uprooting to new cities and states for better weather, family connection, or more accommodating living conditions. Nonetheless, there are big changes ahead for them! In addition to moving their belongings, getting settled in a home, and finding new doctors, your client will most likely need to switch to a new Medicare plan. The process of changing Medicare plans can seem overwhelming for some. However, as a trusted resource in the life of your client, there are ways you can help to ease the stress and unknown obstacles that may arise.
Here at Plan Advisors, we believe there is value in beneficiaries meeting with local insurance professionals who are familiar with the benefits and provider networks utilized by the various Medicare plans available.
That’s why we have the Plan Advisors Broker Referral Program. You can be sure your client is comfortably guided through the decision-making process by a knowledgeable licensed producer. You get peace of mind while your client receives proper service and care.
Help your Client Understand How Moving Affects their Medicare Coverage
Your client has the potential to be affected by their move in various ways depending upon their current plan.
Medigap Policy Owners: If your client is on Original Medicare and has a Medicare supplement, they will be able to easily take the plan with them to another part of the country. However, pricing of Medicare supplements varies by location. Therefore, the client may be required to pay a higher premium than they may have grown accustomed to. The client can shop for a more cost-effective policy, but they could be subject to medical underwriting.
Prescription Drug Plan Owners: Medicare Part D plans vary by state. This means that an out-of-state move will require your client to shop for a new prescription drug plan.
Medicare Advantage Plan: While some Medicare Advantage plans offer regional coverage, it is likely that your client will need to find a new plan after their move. Medicare Advantage plans may vary from one service area to the next with differing benefits, premiums, and carrier contract codes. Your client could also choose to return to Original Medicare and shop for a supplement. Again, if they choose to do so, they would be subject to medical underwriting.
Special Election Period Awareness
Medicare has established a Special Election Period (SEP MOV) for beneficiaries who are moving outside of the service area that their current Medicare plan covers. While it is possible for your client to select a new plan the month prior to their anticipated move, many seniors are more comfortable meeting with a local agent that knows the market in their new area. Assuming the client waits until after the move, they will have the month in which they completed their move, plus two additional months to switch plans. This is provided they do not notify their carrier prior to the move. Doing so will accelerate the un-enrollment process to the first of the next month and should be avoided until a transition plan strategy is in place.
Curious as to where everyone is heading? Here are the top 10 states seniors are moving to:
- North Dakota
- Arizona // New Hampshire