There are a couple of reasons why your neighbor might find a better deal, but you may be able to reduce your rate, too. Unfortunately, only Medicare Supplement Insurance coverage is standardized – the premium rate is not. While several companies may offer Medigap Plan F, for instance, they can all charge different premiums for it even though there’s no difference in the coverage. Too many people end up paying more than they need to and don’t even realize they could be saving their money and still have the same benefits.
Doing some comparison shopping can save you hundreds, if not thousands, of dollars. Compare rates on the plan you have from several different insurance companies. That’s why we show you a side-by-side analysis of what leading companies are charging for Medicare plans, whether you’re looking for Medicare Advantage plans, Medigap plans or Prescription Drug plans.
You may also want to check out new Medigap plans as they become available, like the Medigap Plans M and N that were first offered a couple of years ago. Both plans have become popular for having premiums that are less than some of the other choices.
Also, keep in mind that Medicare itself has been changing. It now covers preventive care without making you pay for 20 percent of the doctor’s fee. You may be able to save by scaling back a little now that this new benefit is available.
If you have questions, just call and ask for a free confidential consultation with our advisors. We’ll show you the plans available for your area, discuss their benefits, and find the low-cost options by comparing rates from various insurance companies. Also, feel free to join us for our live Question and Answer Telephone Seminar. You may sign up – at no cost – here on our site.
Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.