Step By Step Guide To Buying Medigap Insurance
When trying to decide which Medigap Plan, to supplement your insurance to medicare, will best fit your needs and budget, there is a lot to consider. Fortunately, you have access to free information from MostMedicare.com. You also have free access to our licensed independent agents who can answer all of your questions.
The friendly experts at Most Medicare can save you a lot of time spent on the phone to gather information that is critical to getting the best Medicare supplement comparison for your individual situation. We can answer your questions and educate and inform you regarding questions you may not even think to ask (just leave a comment below).
Selecting a Medicare supplemental insurance plan may have an impact on your life for many years to come, so it pays to get the highest quality help available to guide you through the process step-by-step.
Step 1 – Compare Available Medigap Plans
MostMedicare.com can show you which Medigap Plans are available in your state, and explain what benefits each plan offers. The differences in these plans are all laid out for you when you visit our website at: www.Mostmedicare.com.
Medigap Plan A has three benefits, and all of the other plans include those three core benefits while offering different combinations of additional benefits. The plans range from Plan A through Plan N, and Most Medicare can assign your own Personal Agent to help you compare plans with a no-cost and no-obligation consultation.
Step 2 – Compare Medicare Supplement Rates
You can compare Medicare supplement rates when you visit our website at www.MostMedicare.com.
Once you decide which Medigap Insurance plan best fits your situation, we can help you find insurers that are licensed to sell that plan in your state. All insurers selling Medigap insurance plans must offer Plan A and either Plan C or F. Insurers are free to choose which other plans they offer.
Because the Mostmedicare.com team are independent licensed agents, we can help you compare plans from different insurers. That way, you’ll learn which insurers offer the best rates on the plan you choose without spending hours doing all that research on your own.
Since the benefits of a specific Medicare plan are the same regardless of which insurer you buy from, compare not only the current price, but also what the plan will cost you over time.
Insurers use different strategies to decide how much, and how often to raise premiums. You may have trouble changing plans if your health deteriorates, unless you are interested in a Medicare advantage plan for your coverage, so you could have the same plan for an extended period of time. That makes it important to consider how quickly the rates will go up as you age.
Your Personal Agent can guide you to substantial savings by helping you compare not just the actual cost of premiums, but also the different methods that insurers use to set pricing.
With Medigap Plans, the adage “you get what you pay for” does not apply. A lower price doesn’t equate to less service because service varies little among Medigap insurers. That’s because coverage is typically pretty automatic. If Medicare pays 80 percent of your medical charges, your Aetna coverage with your Mostmedicare.com plan picks up the remaining 20 percent based on the coverage of the plan you choose.
Insurers set Medigap prices in one of three ways in most states: Attained-age, Issue age or Community-rated policies. The way the insurer sets the price determines how your premiums will increase over time.
It is advisable to stick with plans that don’t raise your premiums just because you’re getting older.
Attained-age plans typically start off with the lowest premiums, but the premiums increase at a faster rate so you pay more as you age.
Premiums for issue-age plans are based on your age when you buy the plan. These premiums will not increase just because you are getting older (except for standard increases for inflation). If you buy an issue-age plan when you are 80, you will pay more for the plan than someone who is 70 would.
Even though premiums may start out a little more expensive, you’ll save over the long run with issue-age or community-rated plans.
Step 3 – Consider Additional Benefits of Specific Insurers
Your Personal agent can answer your questions, and guide you with respect to other important considerations in choosing your Medigap health insurance plan insurance company. For example, certain insurers may offer discounts or services to make their plans more attractive. You should also look into a medicare advantage plan comparison.
Your personal broker is knowledgeable about waiting periods for pre-existing conditions, and how strictly insurers use medical underwriting if you need to apply outside of your Medigap open enrollment period. If one insurer denies your application, another insurer may still sell you a Medigap Plan.
Certain insurers offer more conveniences and discounts. For instance, while most insurers process claims automatically at no extra charge, a few require you to complete paperwork, and that can become burdensome.
When you buy most Medigap Plans, you agree to allow the insurer to get your Medicare Part B claim information directly from Medicare, and to pay doctors directly. If your doctors accept Medicare, Medigap insurance companies are required to pay your doctors directly if you request that. Certain insurers also provide this convenience for Part A claims.
Insurers may offer discounts for non-smokers, for paying annually or for paying with electronic fund transfers.
Your Personal insurance agent can also protect you from illegal business practices, misleading information, and sales pressure tactics.
Step 4 – Complete Your Application
Your Personal broker can assist you in completing the application by answering any questions you may have, and suggesting the most favorable and honest way to answer application questions.
Once you receive your Medigap Plan, your personal agentcan go through the plan with you during your “free look” 30-day trial period.
If you decide to return the plan within 30 days, you will get a full refund.
Free Annual Review so You Always Have the Very Best Plan
To protect our clients, MostMedicare.com will compare your plan to several new plans each year. With this extra service, we can be sure you always have the best plan for your changing needs, and you’ll get the advantages of new benefits as they come to market.