Medicare Supplement Replacement and Duplication (69O-156, F.A.C.)

Replacement = buying a new Medicare supplement while canceling (or substantially reducing benefits of) an existing one. Applications must ask directly whether the applicant intends to cancel or reduce existing supplement coverage. Before issuing, the insurer must furnish the Notice Regarding Replacement of Medicare Supplement Coverage; within five (5) working days of receiving the application at its policy issuance office, the replacing insurer must send a copy of the notice to the existing insurer. If the replaced policy was in effect at least six (6) months, the replacement may impose NO new restrictions — preexisting conditions, waiting, elimination, or probationary periods — on benefits the original policy contained. Duplication ban: no Medicare supplement in force in Florida may contain benefits that duplicate benefits provided by Medicare.

Swap policies without restarting any clocks you already ran out — and the old insurer gets a heads-up within five working days.