Congratulations on being one of the smarter Medicare Supplemental Insurance shoppers out there.
By best estimates, roughly 70% of Medicare Supplemental Insurance policyholders are paying more than they need to for their current plans. You might feel that you fit in this category or perhaps you’re shopping for a Medicare supplemental insurance policy for the first time. Regardless of your situation, by visiting MedigapBuyersGuide™ you have found one of the best resources on the Internet for finding and verifying information and rates on Medicare and Medicare supplemental insurance plans.
We encourage you to take some time visiting the different sections of the site to ensure you understand how all this works and how to get rates from the top companies in your area. Our unique Online Medicare supplemental Insurance Quote system will allow you to view Medicare supplemental rates from many of the providers you might have on your list. Once you are ready you can speak with one of our Medicare supplement insurance agents (brokers) to ensure you understand the offerings and rates and to get help with applying for the Medicare supplement coverage of your choice. You’ll find that we not only take care of our Medicare supplemental insurance clients with their initial plan but we proactively monitor the rates over the years and notify our clients when we feel we can get them a better rate.
As you may already know ...
When it comes to Medicare supplemental insurance there are no discernible differences in offerings between companies for like plans. A particular plan letter from one company works identically to that same plan letter from any other Medicare supplemental insurance company. As an example, a standard plan F from let’s say Blue Cross Blue Shield works identically to a standard plan F from AARP (United Healthcare) or one of the Mutual of Omaha companies.
Other than there not being any difference in benefits from like plans (example plan F from AARP vs. plan F from United of Omaha) you will also see no difference in:
1) Doctors Networks - One of the really nice things about Medicare supplements is there are not different doctors network for each company. If a doctor accepts Medicare supplemental insurance he or she will accept any company’s Medicare supplement. This has mainly to do with the fact that Medicare processes the claim first and the claim then gets passed to the Medicare supplement insurance carrier to pay their part.
2) Claims Paying History - Because Medicare makes the decision on whether a claim will be paid the Medicare supplemental insurance companies cannot go against Medicare’s ruling. So, if Medicare approves the claim the supplement company just has to pay their part. They cannot go against Medicare’s decision. So, by virtue of the claims-filing process, all companies claims paying history is the same.
3) Over all Experience - When clients switch from a particular plan to that same plan from another company we let them know not to expect a change in service. The only difference they’re likely to see is a lower premium and a different companies logo on their Medicare supplement ID card.
The biggest changes you’ll likely want to consider are:
1) A.M. Best Rating of Insurer - You want to ensure you’re dealing with a company that is not in financial distress. Any company rated a B+ or better with AM Best is considered stable. AM Best is the primary organization that tracks the financial stability of insurance companies.
2) Medicare Supplement PRICES (of course) - THIS IS REALLY WHAT MATTERS. It really all comes down to getting the best rate for the plan you would like to have. It’s important to find an agent or agency that represents the top companies and can guide you through to finding the best rate from stable companies for the plan you prefer. There are also many factors to consider when looking at pricing and a good agent can help you understand the differences.
The GoMedigap agents are trained to take an educational approach to helping you understand your options and an empathetic approach to making recommendations on which plan will be the best combination of coverage and pricing from a reputable and financially stable company. Give us a call and find out why GoMedigap is widely considered the best Medicare supplemental insurance agency in the country.
- Medicare Supplement Blog: -
Medicare Supplements – 5 Things Supplemental Insurance Is NOT
Wednesday, July 21st, 2010
Medicare supplemental insurance plans are great programs that allow all people who have Medicare to get the extra coverage that they need and deserve so that they can make the most of their healthcare. These plans are varied, but not … Continue reading