Save Money, Change your Medicare Supplement Plan
Everyone is looking for ways to save money, especially considering the weak economy. Most people over 65 are on a fixed budget and every dollar counts. There are several ways to save money, from clipping coupons to changing your telephone provider. However, the easiest way to save money is to change your Medicare Supplement Plan. If you are in good health or have a guaranteed issue period, it is likely you can change companies, save money, and receive the same benefits.
Many companies will be reducing their prices for Medicare Supplemental Insurance on June 1st, 2010 so they can be more competitive in the marketplace. You can use this as an opportunity to shop all companies, change plans, and start saving money while enjoying the same exact benefits. However, you may need to qualify by answering a series of health questions to make sure you will be approved. An expert who specializes in Medicare Supplement Plans will be able to assist you with this matter.
Two new Medicare Supplement Plans being introduced by Medicare on June 1st, 2010. The most popular of which is Medicare Supplement Plan N, which is a low cost option designed to compete directly with Medicare Advantage Plans. The advantage of these new Medicare Supplement Plans is there are no networks so you can visit any doctor or hospital that accepts original Medicare. However, with Medicare Supplement Plan N you will have to pay the annual Part B deductible, plus co-payments every time you go to the doctor.
In addition to new Medicare Supplement Plans, there are several new companies who are offering this type of insurance at very low prices. The best of these companies is Gerber Life, which carries an “A” rating with A.M. Best and has very low prices in several states. In addition to their low rates, they also have excellent customer service and work well with doctors and hospitals. Other companies such as Assured Life and Sentinel Security also offer competitive rates on Medicare Supplemental Insurance, but are not as well established.
Medicare Supplement Plans are standardized by the Center for Medicare Services so every insurance company must offer the same exact plans and benefits. In addition, the prices are regulated by the state department of insurance to ensure they are affordable. This strict regulation has made saving money very easy because seniors can switch companies knowing they are receiving the same exact benefits while saving money on their monthly premium.
Our Recommendation when purchasing Medicare Supplement Plans is to first choose the plan that best suits your Medical needs, then shop every insurance company to make sure you get the very best price for that plan. Medicare Supplement Plan F is the most comprehensive Plan and there are several high quality insurance companies including Mutual of Omaha and Gerber Life that offer very low prices.