Some people hear that Medicare Supplement Insurance plans are standardized and assume that includes pricing. Nothing could be more misleading. There is no regulation on premium prices for the 10 Medicare Supplement plans available now even though the benefits are standardized.
For years, reports have surfaced that people are paying hundreds of dollars more for the exact same benefits from one insurance company versus the same plan from a different company. Doesn’t seem fair, does it?
Here’s what you can do. Shop from a lot of Medicare Supplement insurance providers. Since the coverage in one Plan A, for instance, is the same no matter which insurance company is offering that plan, why not get it at the lowest price?
To save yourself time and trouble, you can call us and have us search for the lowest rates where you live. Our help is confidential and there’s never any charge, either. Get to know us better by joining the next Question and Answer Teleseminar. It’s free to register here and then you can ask questions or just listen to what others are asking about both Medicare Advantage plans and Medigap plans.
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.