The companies that sell Medicare Supplements (also known as Medigap) are numerous. Some of the main ones are Mutual of Omaha, ForeThought, Aetna, Anthem, Gerber, United Healthcare co-branded AARP, there are dozens and dozens of them.
If you question is where do you look to buy a plan, you have several choices there too. You can call any of these companies directly or respond to their advertising and they will send out a sales representative either in person or to sell you over the phone.
But there is a better way.
You can use a Medicare Insurance Broker and sign up at the lowest price the plans are offered anywhere. You pay no fees to the broker. The advantage to you is you will get a knowledgable advisor that helps you understand your choices, shows you the current prices for all companies and most importantly, in the future when your rate goes up, his job is to get your rate back down.
Your insurance broker will be the best free to you employee you have ever hired. People spend a tremendous amount of wasted money on Medicare insurance plans every year that they could have the exact same coverage plan for less if they understood how to do it. Your broker helps you with this and costs you nothing.
Mr. Burke is correct in that there are many companies that offer Medicare supplements, or Medigap policies. They can also vary from state to state.
However, I want to qualify the Broker suggestion. Brokers do not have access to all companies and thus may not be able to offer you what could well be the best plan for you. This is because not all insurers work through brokers.
There is no substitute for due diligence on your part. Things that you will want to investigate are things like the financial stability of the insurance company as well as their reputation and their historic rate increases. While it is true that simply choosing a broker is easy, there is no substitute for educating yourself. Cheapest or easiest is not always best.
President, Secure Medicare Solutions, North Carolina
To expound on the previous answers, you may be able to obtain a list of companies that offer Medigap plans in your state from your state Department of Insurance. Some of the state DOIs maintain this listing on their website. Others may provide it upon request.
Of course, it is not practical or enjoyable for you to contact each of these companies to get plan information and rates. But this will at least give you an idea of what's available. An independent agent can provide rates on most, if not all, of the companies that are offered in your area.
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If you question is where do you look to buy a plan, you have several choices there too. You can call any of these companies directly or respond to their advertising and they will send out a sales representative either in person or to sell you over the phone.
But there is a better way.
You can use a Medicare Insurance Broker and sign up at the lowest price the plans are offered anywhere. You pay no fees to the broker. The advantage to you is you will get a knowledgable advisor that helps you understand your choices, shows you the current prices for all companies and most importantly, in the future when your rate goes up, his job is to get your rate back down.
Your insurance broker will be the best free to you employee you have ever hired. People spend a tremendous amount of wasted money on Medicare insurance plans every year that they could have the exact same coverage plan for less if they understood how to do it. Your broker helps you with this and costs you nothing.
However, I want to qualify the Broker suggestion. Brokers do not have access to all companies and thus may not be able to offer you what could well be the best plan for you. This is because not all insurers work through brokers.
There is no substitute for due diligence on your part. Things that you will want to investigate are things like the financial stability of the insurance company as well as their reputation and their historic rate increases. While it is true that simply choosing a broker is easy, there is no substitute for educating yourself. Cheapest or easiest is not always best.
Of course, it is not practical or enjoyable for you to contact each of these companies to get plan information and rates. But this will at least give you an idea of what's available. An independent agent can provide rates on most, if not all, of the companies that are offered in your area.
The "big" carriers such as Blue Cross, Mutual of Omaha, United and Humana offer Medigap plans in most states.
If you are looking for lower cost plans, ask a Medicare broker about rates from Family Life, Equitable and New Era.