Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Many people will strictly look at the premiums when comparing Medicare supplement (Medigap) plans. However, there's a number of factors to consider such as plan benefits (e.g. plan F vs. plan N), your zip code and premium budget/tolerance, premium rating-method (community rated, issue-age rated, or attained-age rated), and rate increase history, just to name a few. Also, not all plans are available in every area and not every carrier offers every plan.
An independent broker can help compare each plan available in your area and find the plan most suitable for you. If you'd like some help with quotes or have other questions, send me a PM or visit our website.
Comparing Medigap Plans can be very time consuming and exhausting for people. Working with an independent agent will save you a lot of time and money. A good agent will be able to give you the bottom line of what is available to you and help you determine which plan meets your needs the best. All Medigap Plans will be identified by a letter such as Plan F, Plan J, Plan G, etc.
I would be happy to answer any questions you have in comparing your options.
Independent Agent & Medicare Supplement Specialist, reMEDIGAP, USA
One of the best ways to compare Medigap Plans is to look at the benefits side-by-side. Medigap Plans are standardized, so all the lettered plans have the exact same benefits with every insurance company.
Choosing to work with an agent who specializes in Medicare Supplement insurance is a step in the right direction. The right agent will take the time to show you the different Medigap Plans and describe the pros and cons based on your individual needs.
Here are some questions that you may want to ask yourself:
Do you want to pay the annual Part B deductible? ($147 in 2014)
Do you want to pay any co-pays or co-insurance?
Do you want all the Medicare approved charges covered so you don't have to deal with deductibles, co-pays and co-insurance?
As I stated above, Medigap Plans are standardized (Plan G with ABC insurance company has the same exact benefits with XYZ insurance company) and the only difference is the price. Once you decide which benefits you want, your agent can shop the market for the best premium.
But don't let that be the end of the story. You will want to make sure the insurance agent helping you with this process is one that provides on-going service and annual rate reviews. Far too many times do I speak with Seniors who signed up for a Medigap plan with a great premium only to have it sky rocket years later...never once did the original agent check in with them.
Thank you for taking the time to read my response. If I can help you compare Medigap Plans, please feel free to contact me 1-888-411-1329 or visit my website at www.remedigap.com.
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An independent broker can help compare each plan available in your area and find the plan most suitable for you. If you'd like some help with quotes or have other questions, send me a PM or visit our website.
I would be happy to answer any questions you have in comparing your options.
Choosing to work with an agent who specializes in Medicare Supplement insurance is a step in the right direction. The right agent will take the time to show you the different Medigap Plans and describe the pros and cons based on your individual needs.
Here are some questions that you may want to ask yourself:
Do you want to pay the annual Part B deductible? ($147 in 2014)
Do you want to pay any co-pays or co-insurance?
Do you want all the Medicare approved charges covered so you don't have to deal with deductibles, co-pays and co-insurance?
As I stated above, Medigap Plans are standardized (Plan G with ABC insurance company has the same exact benefits with XYZ insurance company) and the only difference is the price. Once you decide which benefits you want, your agent can shop the market for the best premium.
But don't let that be the end of the story. You will want to make sure the insurance agent helping you with this process is one that provides on-going service and annual rate reviews. Far too many times do I speak with Seniors who signed up for a Medigap plan with a great premium only to have it sky rocket years later...never once did the original agent check in with them.
Thank you for taking the time to read my response. If I can help you compare Medigap Plans, please feel free to contact me 1-888-411-1329 or visit my website at www.remedigap.com.