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Medicare Supplemental Insurance Comparison

A Medicare supplemental insurance comparison can help you add coverage to your Medicare supplement plan for the best value based on the choices of supplemental policies in your area. Since not all insurance companies offer all supplemental plans, a comparison across companies can help you determine what your options are before you heavily research which plan you want to purchase. Researching local providers can also help you determine what plans are offered at the best price for your area. Supplemental insurance companies can offer different rates across different counties, so a comparison of premiums is important to ensuring that you get the lowest monthly rate available.

Supplemental Coverage Explained

Medicare is a federally run insurance program for seniors age 65 and older, as well as people with certain medical conditions who may be younger than 65. The original plan is offered in two parts, called Part A and Part B. Part A covers inpatient hospital stays and long-term services like hospice care, while Part B covers general care like doctors' visits, outpatient hospital care and approved preventative services. Medicare alone can only cover 80 percent of the overall approved cost of services it covers. This leaves a 20 percent coinsurance fee that Medicare patients must pay out-of-pocket if they have no other coverage. A supplemental insurance policy, often called Medigap, is a form of extra coverage offered by local private companies that can take care of this coinsurance fee. In many cases, Medigap plans can also cover deductibles, excess charges and services like skilled nursing facility. Medigap is available in 10 different plans, so you can choose the level of coverage you need. A Medicare supplemental insurance comparison can help you find the best providers in your area, as well as the best individual plan for you.

Medigap Company Comparison

Since the best rates for supplemental insurance are often available through providers in your immediate area, it is often wise to start with a Medicare supplemental insurance comparison of local companies. You can find a list of all firms legally authorized to sell Medigap in your state online. Once you know your options, you can make a simple comparison of policies sold by each company to determine which plans you'll need to research. A Medicare supplemental insurance comparison will also allow you to quickly see the differences in each company's average rates.

Since Medigap plans are standardized by the federal and state government, individual plans will be identical from one company to another. In other words, Plan G at a nationally recognized provider in your nearest large city offers the exact same benefits as Plan G at the local firm inside your grocery store. If the monthly premium differs for the same plan, it's either because of convenience, reputation or customer service. These are all important factors to consider, but none will affect the services you receive from your plan. A Medicare supplemental insurance comparison of companies in your area will help you objectively determine where you can find the lowest price before you decide whether other factors are important to you.

Medigap Plan Comparison

A Medicare supplemental insurance comparison of each plan in your area can help you determine the best available option, keeping in mind that not all plans will be available through all local providers. Medigap policies are labeled Plan A through Plan N, each offering different benefits at different monthly premiums. Plan A offers the most basic coverage, including Part A and B coinsurance and your first three pints of blood before Medicare takes over. All companies must offer this plan. Plan F, the most popular, is also the most comprehensive, offering deductible coverage, skilled nursing facility and foreign emergency travel coverage.

Plans M and N were introduced in 2010 as cost-sharing options. In comparison to other Medigap plans, these policies are similar to Plan F in the services they provide. The difference is that M and N will likely have lower monthly premiums in exchange for higher up-front expenses if you need medical care. For example, Plan N requires a $20 copay see your doctor and a $50 copay for an emergency room visit. A Medicare supplemental insurance comparison will allow you to examine which plans are available through various companies in your state so you can immediately eliminate options that aren't available in your area.

A Medicare supplemental insurance comparison is an important part of researching your insurance options if you rely on Medicare to pay for your health expenses. Supplement plans have given many people an alternative to expensive out-of-pocket costs or other programs that take away your freedom to choose your own doctors. With such a variety of Medigap plans to choose from, a Medicare supplemental insurance comparison can help you find a solution that works with your monthly budget while providing just the right amount of care.


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What People Are Saying

Beatrice D
Modesto CA

Medicare Supplemental Insurance Testimonial

This site made it easy to get the Medicare supplemental policy that was right for me. I saved a lot of my money and time. Medicare Supplemental Insurance Testimonial