How does $700 off your yearly premium sound? We can’t promise you that, but that’s what our clients average when they work with us. You keep your same doctors and benefits, but you must QUALIFY in order to get these savings. Online Quoters have access to some companies. WE HAVE MORE.
The Top 9 Medicare Supplement Questions our clients first ask:
- What is Medicare Supplement Insurance (Medigap)
- What are the Benefits of having Medicare Supplemental Insurance?
- Is Medicare Supplement Insurance and Medigap the same type of coverage?
- How does Medicare Supplement insurance work?
- How do you buy a Medigap policy?
- Why can’t you get quotes yourself from ALL the insurance companies who offer Medigap Plans?
- How do you know if you are getting a good premium?
- I got my quote, now what?
- Do I have to do this every year?
Medicare Supplement Insurance (Medigap) is private health insurance designed to supplement Original Medicare Part A and B.
Simply stated, it helps pay some of the health care costs not covered with Original Medicare. For example: coinsurance, copayments and deductibles (these are the “gaps” in original Medicare coverage).
2. What are the Benefits of having Medicare Supplemental Insurance?
- Choose a plan that suits your needs and budget
- Freedom to visit the Medicare doctor YOU want
- Keep control over your healthcare
- Stay protected from unexpected events
3. Is Medicare Supplement Insurance and Medigap the same type of coverage?
4. How does Medicare Supplement insurance work?
Learning about Medicare Supplement Plans (Medigap insurance) is very important. It is the perfect way to ensure you are getting the best value out of your insurance dollar when purchasing Medicare Supplemental insurance.
Medicare Supplement insurance (Medigap) is designed to protect you from the bills that Medicare doesn’t pay.
Sometimes it’s a shock when people discover that Medicare was not designed to cover all of their doctor and hospital bills. Relying on Medicare in this way can put you in financial stress when unexpected out-of-pocket expenses arise.
For instance, admission into the hospital requires payment for the Part A deductible. This deductible is $1,216 per benefit period in 2014. Interestingly, this deductible has risen $1,176 since 1968.
By choosing not to purchase a Medigap Plan, beneficiaries put the responsibility on themselves to pay this deductible which has increased by 3040% in just 45 years. A Medigap policy would pay that bill for you regardless of how much the deductible increases.
Beneficiaries with original Medicare who purchase a Medigap policy can have peace of mind knowing they are not left paying deductibles and other out of pocket expenses themselves.
Medigap Plans are standardized. This means Medicare purposely designed each Medigap Plan so the benefits would be the same. The benefits are identical with all insurance companies who offer Medigap policies.
Medicare beneficiaries who decide to add a Medigap Plan to their healthcare portfolio, do so by purchasing one from a private insurance company. These companies must be approved by Medicare.
5. How do you buy a Medigap policy?
Some Medicare recipients use the internet to navigate websites of some of the larger insurance carriers in the market. While you can certainly purchase a policy this way, it does not always provide you with the best result.
There are only a few insurance companies that list their premiums online; unfortunately, these are not always the lowest premiums.
Medicare beneficiaries may also call insurance companies directly in order to get quotes. This technique proves to be very time consuming. Again, not all insurance companies provide quotes to consumers.
You’ll find a few large companies that will share a quote. However, their price may be more expensive than the competitor who relies on a licensed independent insurance agent to share their information.
6. Why can’t you get quotes yourself from ALL the insurance companies who offer Medigap Plans?
Insurance companies work with licensed insurance agents to help bring you the quotes you’re looking for today. Many companies do not want to publish rates online or in advertisements.
Many insurance companies keep their costs down by not spending money on expensive websites and advertising.
7. How do you know if you are getting a good premium?
Are you trying to shop for Medicare Supplement insurance on your own? It can be difficult to find the Medigap Plan that meets your needs without the right resources.
Relying on an independent licensed insurance agent who specializes in Medicare Supplemental insurance is key. It’s a little old fashioned, but it works.
We haven’t “reinvented the wheel”. We just simply use our technology to shop the Medicare Supplement market for you.
8. I got my quote, now what?
As licensed insurance agents, we are here to help you complete your application and submit it to the insurance company.
We stay in constant contact with the insurance carrier to make sure your application is being tended to in a timely manner.
9. Do I have to do this every year?
Yes and no. If your rate increases a tiny bit, then you probably don’t need to make a change.
However, if your premium got a large raise then it may be time to shop your Medigap Plan with a new insurance carrier. We do this for all our clients.
We are here to let you know what the lowest premiums are in your area. If you want to take advantage of those low premiums, we are happy to help.
Our service is free. We never charge a fee and we never pressure you to buy.