When it comes to figuring out what are the Best Medicare Supplemental plans it’s not hard to get confused as the options of plans as well as companies who sell them are many. Many people struggle to read through all the Medicare material only to find themselves discouraged and confused. Before making any decision about a plan you first have to ask yourself some very important questions.
These questions, also depend on your current situation. For instance, if you are just turning age 65 and are taking Part B Medicare, then you can you can choose from any plan available from any carrier and not be turned down for coverage. This is because there is no medical underwriting when it comes to people in what is called the “Open Enrollment Period”. This period last 6 months from the effective date of Part B Medicare. This is the best time to sign up for a supplement plan, as you may choose any plan you want.
Therefore in this situation, ask yourself:
- Do I want all my medical bills paid for 100%? With no co-payments, no coinsurance, and no deductibles to pay out-of-pocket?
- Would I rather save money on my monthly premium because I am healthy, and enroll in a plan with less benefits but has a lower rate?
- Do I need prescription drug coverage?
- What about Dental, hearing and vision coverage?
Many people will likely tell you that Medigap Plan F is one of the best plans you can get because it pays all the out-of-pocket expenses of Medicare Part A and Part B. This is certainly true, but is the best for you?
Just because a plan has the most comprehensive coverage doesn’t mean you should enroll.
Depending on your age Plan F could be as much as $40 more in monthly premium over a Medigap Plan G, yet the benefits of Plan G are nearly as good. This could result in significant savings for you, but you must do your research prior to see.
Remember, the best Medicare Supplemental plans are the ones that fit your budget, yet provide all the coverage you need. And because your budget is different than everyone else’s you must research all of your options. Have an experienced agent such as ourselves can easily help in the process, and there’s never a cost for our services. Learn about and compare plans, choose which is best for you, and save money!