Why You Must Compare Medicare Supplement Rates

At MedigapPlansGuide.com, our goal is to help our clients obtain Medigap coverage as easily and inexpensively as possible.

Now, Medicare does not cover all your healthcare expenses so it’s vitally important for your financial future and peace of mind that you find coverage to cover those gaps and that you do so in the most affordable way possible.

Medicare is a great start, but it’s just partial coverage whether you need doctor or hospital care. So compare Medicare supplemental rates to protect your health and your savings.

Here’s how to compare rates. Medicare Supplement plans are standardized. All plans with the same letter, for instance Plan A, have the same benefits. Look at plans that cover your regular medical bills, and add protection against unexpected medical expenses.

Look at when is the best time to shop. During open enrollment, you are guaranteed to a Medicare supplement plan regardless of your condition. That means you can’t be charged higher premiums due to pre-existing health problems. This is only during your open enrollment period which begins three months before you turn 65 and ends three months after your 65th birthday.

So you want to start comparing rates when you turn 64. That way, you’ll be ready to decide in plenty of time for open enrollment. Some people might be retiring and coming off employer group health insurance, in which case they may qualify for a guaranteed issue period where they may obtain a Medigap policy with no medical underwriting. These people will certainly want to take advantage of this time frame.

One of the most important things to remember is that Medicare Supplement rates can and often do vary widely between different insurance carriers for the exact same coverage. This means, for example, that a Medigap Plan F from one company may cost $150 per month, however the exact same coverage and Plan F from another well known carrier may cost $185 per month. It’s important to work with independent agents such as ourselves who, with absolutely no cost to you, can shop all the top rates in your area to see what plan and company will save you the most money.

As well, Medicare Supplement rates typically go up once per year and sometimes twice. It’s extremely important to have your agent contact you when this happens to make sure there’s not a better premium out there for you. We do this every time our clients get a rate increase, and they love us for it.