When can someone switch their Medicare Supplement plan without penalty?

Switching a Medicare Supplement plan without penalty is primarily allowed during the Open Enrollment Period or when an individual qualifies for Guaranteed Issue Rights. The Open Enrollment Period begins on the first day of the month when an individual turns 65 and is enrolled in Medicare Part B. This period lasts for six months, during which a person can choose a Medicare Supplement plan without medical underwriting, meaning they cannot be denied coverage or charged higher premiums based on their health conditions.

Guaranteed Issue Rights may occur under specific circumstances, such as losing other health coverage, moving out of the service area of a current plan, or if a plan is discontinued. These rights are designed to protect consumers and ensure they can obtain new coverage without facing penalties or higher rates due to health issues.

While switching plans is allowed at various times throughout the year under specific conditions, options like switching anytime without restrictions or limiting changes strictly to the end of the calendar year do not provide the same level of protection or flexibility as the Open Enrollment Period and Guaranteed Issue Rights. Thus, the most accurate answer is that an individual can switch their Medicare Supplement plan without penalty only during the designated periods or under qualifying conditions.