Renewability

All Medicare supplement and Medicare select policies sold today must be guaranteed renewable for life. This means that you can keep the policy as long as you pay the premium. It does not mean that the insurance company cannot raise the premium. Policies that are guaranteed renewable offer added protection. Be sure to ask the insurance agent or company about the renewability of the policy.

Medicare Advantage plans are not guaranteed renewable. Medicare Advantage plans are a special arrangement between federal Centers for Medicare & Medicaid Services (CMS) and certain health maintenance organizations (HMOs) or insurance companies. CMS, HMOs, or insurance companies may choose to terminate plans at the end of any calendar year.