Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
The "best" Medigap policy is plan F because it covers all benefits at 100% from day 1. Plan G is competitive with plan F because it covers everything just like plan F except for the Medicare Part B deductible ($147 in 2014). The predictability in healthcare expenses these 2 plans have created for people have made these the 2 most desireable plans to have.
In general, you would start by looking at the benefits you want to have covered. If you want to just write a check for a premium and not have to worry about big hospitals when you need procedures and surgeries done, you should consider plan F or plan G. If you're willing to share more of the risk of expenses to lower your premium, you may want to consider a plan N or plan Hi-F. Refer to the Medigap guidebook (available on the Medicare.gov website - you can also email me for a copy and I'll forward it to you).
Once you've determined which of the 11 available Medigap plans you want to purchase, the next factor to look at is price. Every Medigap plan gets paid in the exact same way, regardless of the insurance company you have the insurance through. For example, if company A is charging $125 per month for a plan F and company B is charging $150 per month for a plan F, you would want to buy the plan F from company A because they're saving you $25 per month and the benefits are the exact same either way.
Please remember, if you're applying outside of your initial open enrollment period when you're new to Medicare, you may be subject to medical underwriting and have to answer the health questions. This is where an independent Medigap insurance broker really comes in handy as they can shop the case for you among many companies instead of just 1 or 2 to make sure you get the desired Medigap plan at the lowest possible cost.
I hope the information is helpful - please feel free to contact me for assistance with your Medigap plan (I'm an independent Medigap broker) and if you have any other questions. Thanks very much.
Independent Agent & Medicare Supplement Specialist, reMEDIGAP, USA
Working with an independent insurance agent and one who specializes in Medicare Supplements is a great way to help you find the Medigap policy that meets your needs.
Why? Independent agents are not employees of the insurance company. We work for you and do not charge a fee for our service. We are always looking for companies that will benefit our clients. We know that one size does not fit all. Every individual is unique with their health qualifications, how much premium they can afford, and what benefits they desire.
You benefit because an independent agent can shop the Medicare Supplement insurance market and show you what is available in your area.
If you like to do everything on your own, keep in mind that most insurance companies do not make their premiums available to the public and will only work with a licensed insurance agent.
While contacting the insurance company directly may seem more convenient, you are often times paying a higher premium.
I've worked with many Seniors who initially bought a Medigap Plan directly with the insurance company. After realizing their Plan F, G, or N was the same exact Plan F, G, or N with another insurance company, they were happy to let me shop the market and find them a lower premium.
Thank you for reading my reply. Please let me know if I can be of further assistance. 1-888-411-1329.
The "best" Medigap Policy will be different for different people depending on your needs. The quickest way to determine the best policy for you would be to work with an independent Medigap Policy agent. A good agent will be able to show you whats available and help you match the best policy for your needs. They will save you hours of research and a lot of money.
Things to consider when deciding on a Medigap Policy include:
1. Benefits of the plan.
2. What copays, deductibles and coinsurance are you comfortable with?
3. Do you want flexibility with your network of doctors you see?
4. Monthly premium.
5. Quality of the insurance carrier.
I would be happy to answer any other questions you have.
.JPG){kind=avatar}
In general, you would start by looking at the benefits you want to have covered. If you want to just write a check for a premium and not have to worry about big hospitals when you need procedures and surgeries done, you should consider plan F or plan G. If you're willing to share more of the risk of expenses to lower your premium, you may want to consider a plan N or plan Hi-F. Refer to the Medigap guidebook (available on the Medicare.gov website - you can also email me for a copy and I'll forward it to you).
Once you've determined which of the 11 available Medigap plans you want to purchase, the next factor to look at is price. Every Medigap plan gets paid in the exact same way, regardless of the insurance company you have the insurance through. For example, if company A is charging $125 per month for a plan F and company B is charging $150 per month for a plan F, you would want to buy the plan F from company A because they're saving you $25 per month and the benefits are the exact same either way.
Please remember, if you're applying outside of your initial open enrollment period when you're new to Medicare, you may be subject to medical underwriting and have to answer the health questions. This is where an independent Medigap insurance broker really comes in handy as they can shop the case for you among many companies instead of just 1 or 2 to make sure you get the desired Medigap plan at the lowest possible cost.
I hope the information is helpful - please feel free to contact me for assistance with your Medigap plan (I'm an independent Medigap broker) and if you have any other questions. Thanks very much.
Why? Independent agents are not employees of the insurance company. We work for you and do not charge a fee for our service. We are always looking for companies that will benefit our clients. We know that one size does not fit all. Every individual is unique with their health qualifications, how much premium they can afford, and what benefits they desire.
You benefit because an independent agent can shop the Medicare Supplement insurance market and show you what is available in your area.
If you like to do everything on your own, keep in mind that most insurance companies do not make their premiums available to the public and will only work with a licensed insurance agent.
While contacting the insurance company directly may seem more convenient, you are often times paying a higher premium.
I've worked with many Seniors who initially bought a Medigap Plan directly with the insurance company. After realizing their Plan F, G, or N was the same exact Plan F, G, or N with another insurance company, they were happy to let me shop the market and find them a lower premium.
Thank you for reading my reply. Please let me know if I can be of further assistance. 1-888-411-1329.
Things to consider when deciding on a Medigap Policy include:
1. Benefits of the plan.
2. What copays, deductibles and coinsurance are you comfortable with?
3. Do you want flexibility with your network of doctors you see?
4. Monthly premium.
5. Quality of the insurance carrier.
I would be happy to answer any other questions you have.