Medicare Health Plans can cost you a lot

Medicare Health Plans can cost you a lot

Over a period of time, I have witnessed the benefit of solid, accurate information every day as an independent broker who specialize in seniors insurance and Medigap supplemental insurance – Medicare. Taking an informed decision depends solely on having a knowledge and understanding of the available options. Many clients brought to my knowledge that their search for answers gave rise to many emails and phone calls from tons of insurance brokers that put them in a frustrating and confusing situation. This can be very emotional if you just give up and miss the chance to discover an opportunity that could better your health situation and save you money.

Fact 1: Marketing firms are out to sell information to you.

When you search for information online or fill a form to win a prize, you are putting your personal data on a database. The firm will sell your data to several agents who contact them to provide them with the name and contact details of people who need information about supplementary Medigap and Medicare policies. This is where the avalanche of emails will commence! You can avoid this by always making sure you are on a legitimate and authorized website. There should be a toll free line for you and an email address to communicate with them. If you requested to give your personal info to get an offer, then you could just be on the wrong site.

Fact 2: Though the premium for Medigap – Medicare Supplemental plan may be different for different firms, the benefits are the same.

Currently, there are 10 standard Medicare policies, including A, B, C, D, F, G, K, L, M & N. The benefits of each of these plans are approved by the Centers for Medicare & Medicaid Services (CMS). All insurance firms which offer Medicare supplemental insurance policies must meet the approved benefits of the plans they offer.

Although the benefits for each of the different plans are the same, irrespective of the firm offering the policy, there are huge disparities in the pricing of policies from one firm to another.

A knowledge of this and taking the time to compare premiums, you can save 30 percent or more on your Medicare supplement. You can really save money in minutes.

Fact 3: The Medicare supplemental policy or Medigap is only included after the enrollment has been opened.

Supplemental Medicare plans are not subject to yearly production terms and may be changed at any time during the year.With that in mind, you can compare plan options at any time and switch to another plan or firm. If you see that you can obtain the same contract from another firm for a better price, you can change it immediately and begin to save.

Fact 4: You are included in your Part D plan until enrollment is open.

Part D drug plans are Medicare-approved plans provided by private insurance firms.