If you are a licensed agent selling Medicare plans in the states of Illinois, Idaho, or Nevada, there are some upcoming changes for the Initial Medicare Enrollment period. All three states have adopted the Birthday Rule for Medicare Supplement policies that will take effect in 2022. Here’s what you need to know.
Initial Medicare enrollment period—the first chance for individuals to sign up for Medicare—lasts for seven months, starting three months before they turn 65, and ending three months after the month they turn 65. But several states have “Birthday Rule” laws that give members the option of changing their Medicare Supplement following their birthday if they find a better deal for their needs.
California and Oregon already have the Birthday Rule in place. Here’s a look at the states adopting the Birthday Rule for 2022.
Effective January 1, 2022, Individuals between 65 and 75 years old who have an existing Medicare supplement plan can choose a Medicare Supplement policy from the SAME carrier that offers benefits equal to or lesser than their existing plan for a period of at least 45 days from their birthday.
The chosen effective date must fall within the 90-day time period beginning on the applicant’s birthdate. Example: If an applicant has a May 25 birthdate, the effective date must fall between May 25 and August 25.
The new Medicare supplement policy must be from the same underwriting company as the existing policy. Note: if the previous carrier’s entity is now closed, the Illinois birthday rule would not apply. The new application would need to be underwritten.
Starting Jan 1, 2022, individuals enrolled in a Medicare Supplement policy in Nevada may change their plan or insurer during an open enrollment period of up to 60 days following their birthday. Coverage will not be made effective prior to the individual’s birthday or beyond 60 days from the application date.
The new plan choice is limited to any Medicare Supplement policy that offers benefits equal to or lesser than those provided by the current Medicare supplement plan.
The chosen effective date must fall within the 90-day time period beginning on their birthdate. Example: If an applicant has a May 25 birthdate, the effective date must fall between May 25 and August 25.
Effective March 1, 2022, Idaho will also have a Birthday Rule that will allow individuals who already have a Medicare Supplement policy to switch to another plan of equal or lesser benefits during a 63-day window that starts each year on their birthday.
In addition to the Birthday Rule Idaho will move to community rates and carriers will not be able to charge policy fees or modal factors effective 3/1/22.
Have questions about the Birthday Rule and how it affects Medicare Supplement plans in your state? Give our sales and marketing specialists a call today at 1.855.888.8326.
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