Medicare’s Health Plans Can Cost You a Lot

Medicare’s Health Plans Can Cost You a Lot

Over the years, I have come to witness the benefit of sound and accurate information on a daily basis; as an independent agent specializing in senior’s insurance and the Medigap – Medicare supplement insurance. Making an informed decision depends entirely on knowing and understanding the options available. Many clients informed me that their search for answers triggered many phone calls and emails from dozens of insurance agents that put them in a frustrating and confusing situation. This can be very painful if you simply give up and miss the opportunity to discover an option that could better your health situation and save money.

Fact 1: Marketing firms are in business to sell you information.

When you search for information on the Internet or fill out a form to win a prize, you can put your personal information on a squeeze page. They sell your information to multiple agents who contact them to provide them with the name and contact information of people needing information about additional Medigap and Medicare plans. Here is where the avalanche will begin! You can prevent this by always making sure you are on an authorized and legitimate website. There should be a toll-free phone number for you and an email address to contact them. If you are asked to provide all your personal information to receive an offer, you may be in the wrong place.

Fact 2: Although the cost of the Medigap – Medicare Supplement policy may be different for different companies, the benefits are the same. There are currently 10 standardized Medicare policies, and they include A, B, C, D, F, G, K, L, M, and N. The benefits of each of these plans are approved by the Center for Medicare and Medicaid Services (CMS). All insurance companies that offer supplementary Medicare insurance policies must meet the approved benefits for the policies they offer. Although the benefits in each of the different policies are the same, regardless of the company that offers the policy, there are large differences in policy prices from one company to another.  By knowing this and taking the time to compare prices, you can save 30% or more on your Medicare supplement. In minutes, you can really save money.

Fact 3: The 2020 Medicare Supplemental plans found at is included only after the registration has been opened. Medicare supplement policies are not subject to annual production deadlines and you can change them at any time of the year. Having this at the back of your mind, you can compare policy options at any time and switch to another policy or company. If you find that you can get the same contract from another company at a better price, you can immediately change it and start saving.

Fact 4: You are included in your Part D plan until a time when the registration is open. Part D drug plans are Medicare approved plans provided by private insurance companies.