Medicare Supplement Insurance Plans (Medigap)
Medicare Supplements or Medigap are private insurance policies designed to cover the gaps in Medicare coverage. It is important to research and shop for the best rates in your area. All plans are “standardized” and must offer the same level of coverage dependi ng on which policy you choose. You may find substantial price differences between each insurance company. Our representatives will help you by providing you with a plan comparison from the various companies so that you can make an informed decision.Example: If you choose a Plan F Medicare Supplement plan you will receive the same exact benefits regardless of the company you enroll with. In this case it may be wise to choose the company that has the lowest premium.
In most states Medicare Suplement plans are seperated into 12 categories Plans A-L. As of July 2010 Plan N And M were added. Each plan has a different level of coverage and you should choose depending on your specific needs. Eligibility and enrollment periods may vary depending on the state where you live.
Medicare is a Federal program and insurance plans are regulated by individual States. You will need to find out which specific plans are available in your area. Each County has different plan offerings. If you need help or enrollment details or assistance you may call us ay 914-207-6161.
Choosing A Medigap Policy
There are several ways to save money when choosing a Medicare supplement policy. It may be best to use the assistance of a licensed broker or insurance agent to guide you through the process. The first objective will be finding the correct plan to fit your individual needs. It may be overkill to purchase a policy with more coverage than you actually need. This will result in higher premiums for benefits that you may not even use.
You can choose a policy with a higher deductible. This method is used for many who are relatively healthy and don’t visit the doctor very often. At the same time you will be covered for emergencies and protected against catastrophic costs. You will save a great deal of money on your monthly premium expenses and can use the extra cash to enjoy your retirement.
Many insurance companies will give you a discount if you pay yearly. There are also discounts available if you sign up for the electronic bank transfer payment option. There are a few companies however, that will charge you a one time application fee. You should avoid these plans since most do not charge this fee.
A few companies will offer a discount for a husband and wife combination. This can be convenient and save you money as well but make sure that the overall cost is comparative to other plans. Sometimes you will find policies with the overall lowest price even without any discounts. To compare pricing you may call our toll free number or Request A Free Plan Comparison
Medicare supplement insurance is an excellent option for those who travel frequently. Supplement plans offer the most comprehensive Nationwide coverage. There are no networks to worry about and no referrals are needed. Any provider that accepts Medicare can accept payment from a supplement policy.
Although the monthly premiums are higher, this may be a good choice for some. If you are looking for maximum freedom of choice then this would be a good type policy to choose.