Underwriting is the process assessing risk of issuing insurance. Undewriters evaluate applications,
Seniors with a Medicare Supplement plan in California need to shop their rates every regularly. Most carriers increase rates about once a year, and the increases can add up. Premiums are typically drafted automatically from your bank account, so you may not realize how much your rates have increased over time. Fortunately, Medicare Supplement plans in California are standardized. This means that you can keep the benefits of your plan and get a lower rate.
California has a unique state rule to help prevent seniors from overpaying called the Birthday Rule. Every year around your birthday you can shop for a better rate on your plan, without having to undergo medical underwriting. Underwriting is the process carriers use to determine who they will accept. If you follow the correct process for the Birthday Rule you will be automatically approved.
Our GoMedigap agents are committed to making sure that you never overpay for your coverage. We help our clients every year to ensure that they like their coverage, and get the best rate available to them. To see how we can help, give us a call at (866)894-3258or use our free quote tool.
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You don’t need to wait until your birthday to change your supplement. Many people are able to complete the underwriting process, and switch any time of year. Your GoMedigap agent will guide you through the process, but if you would like to learn more now, visit our blog post What is Medical Underwriting & Do You Need It?