Most of the time people waste money on Medicare Supplement Insurance without even realizing it. It’s not that the coverage isn’t worthwhile. It’s because more than 45 percent of Medicare beneficiaries have never compared their coverage options. That’s the news from a National Council on Aging and United Healthcare poll.
Even though there are 10 forms of Medigap Insurance and even more versions of Medicare Advantage Plans, over 40 percent of the beneficiaries who participated in the poll didn’t realize they could save money by comparing their choices.
Are Medicare Supplement Plans all the same? The benefits are standardized, however there can be a big difference in the cost. Every Medigap Plan F, for instance, offers the same benefits no matter which insurance company sells it. What you may not have realized is that companies sell Plan F for vastly different prices. And, they don’t have to offer any extra benefits with the higher premiums.
It does pay to shop around, and that’s true whether you’re looking at Medigap Plans or Medicare Advantage Plans. But, it doesn’t have to confusing or time-consuming. Use our online resources to help, or give us a call to ask a few questions or schedule an in-depth confidential consultation. Even though our assistance is free, you’ll get the benefit of our years of experience specializing in ways to help you get the most from Medicare.
Jim McFadden has over 11 years of executive-level experience in the health insurance industry, is a youth baseball, softball and football coach, and has one of the worst fantasy football records in the world.