How do I choose a health insurer for my Medicare insurance?

If you have several Medicare supplemental insurance options to choose from, how do you know which plan to choose? Here is some useful information.

Medicare supplement: a quick overview

Medicare supplemental insurance (Medigap) will help pay out several Medicare Part A and B expenses. These costs may include co payments, co insurance and/or deductibles.  There are up to 10 standardized Medicare supplement plans in 47 states, labeled with letters, for example, Medicare Supplemental Plan G.

Each plan with the same name has certain basic benefits. Plan G can pay its Medicare Part A deductible but not its excess from Part B. However, Plan F generally covers deductibles from Part A and B. Massachusetts, Minnesota and Wisconsin have their own plans standardized.  All standard letter plans have a central benefit: anyone can cover up to 365 days of hospital costs and co insurance once the benefits of Part A have been exhausted.

Medicare Supplement plan: Choosing an insurer

Again, all United Healthcare Medicare advantage plans are located at    with the same letter name contain the same basic benefits. In other words, if you buy the Medicare Supplemental Plan F in Los Angeles and your sister buys Plan F in Texas, you basically have the same plan. The same applies if you buy Plan F from Company A in Ohio while your friend purchases Plan F from Company B in the same city.

If the F Plan is the same, no matter where you buy it or by which company, what difference does it make in which supplementary Medicare insurer you use? Here are some tips:

Medicare supplementary insurance is sold by private insurance firmss, hence they have some measure of flexibility in premium costs. Compare prices for the same plan from several supplementary Medicare insurers in your locality.

Some supplemental Medicare insurers offer additional benefits that go beyond the standard benefits provided in each plan. For example, some Medicare supplement plans may be partners with the SilverSneakers fitness program.

Why pay a higher premium for the same Medicare supplemental plan for one company instead of a lower premium for another company if the plans are the same!

This is a possible scenario. Let’s say there is a few dollars difference when you compare Medicare plans in your area. For instance, Insurance Company X may charge a premium of $120/month for the Medicare Supplemental Plan F, while Insurance Company Y may charge $ 116 for Plan F. You may be willing to pay a premium slightly higher to purchase the Plan X Medicare Supplement Plan.

You can get help of you would like to compare Medicare supplemental policies.

Follow the links below on Medicare website to make a call or to request for an email to be sent to your inbox with your personalized information.

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