The weather is turning a little cooler. School is starting. Football season is here. Campaign ads are bombarding us. Whatever sign you use to signal the end of the year, it is right around the corner. For people on Medicare, that means it is time to look at Medigap changes and re-evaluate your Medicare coverage. Now, as we have covered in previous articles, the end of year enrollment period does not actually pertain to Medigap (Medicare Supplement) plans; however, it does pertain to Medicare Part D (Rx part of Medicare). So, since this is the time to re-evaluate those plans, it is also a useful time to consider all of your Medicare plans.
Medigap plans are completely standardized. That is, first and foremost, the thing that you need to understand about that type of coverage. This means that every company is required to offer the same coverage plans. For example, a Plan F (the most common and comprehensive plan) is the same with one company as it is with another. This makes comparing plans very easy to do. The main factor that you need to look at is price, as coverage, claim payments, doctor acceptance, etc. are the exact same.
Rates for Medigap plans can vary greatly – by as much as $100/month for the same coverage in some areas. There are no Medigap changes to coverage, but rates have been consistently increasing. So, particularly if your rate has gone up in the last year or two, it is very likely that you can save money for equal coverage. Also, new companies are constantly entering the Medigap marketplace. Just in the last 2-3 years, there have been 4-5 ‘A’ or higher rated companies that have expanded their offerings to include Medigap plans. These companies, in most cases, are positioned very competitively and at a lower premium price point than previous options.
Medigap quotes allow you to compare all of the plan options, in a centralized place, and choose a plan that represents a monthly savings off of your current plan. There are several ways to obtain quotes for Medigap plans, but the easiest and most advantageous way to do this is online. Medigap brokers (Medigap-Quote.com is one) can provide a comparison of all plan options in a centralized place.
If you would like to get Medigap plan quotes, please contact us online at Medigap Quotes or call us at 877.506.3378.