Medicare Supplement plans (Medigap) are 100% identical
On page 9 of the 2017 Guide to choosing a Medigap policy provided by the Federal government, it says. “Cost is the usually only difference between Medigap plans.” The benefits must be the same. The only exception to that is a few select states; if you live in Massachusetts, Minnesota, or Wisconsin, Medigap plans are different, but the other 47 states, the benefits are identical.
If the price is the only difference, what is the difference between companies?
Price and Premium stability
Even though the coverage is the same, companies get to choose how much they want to charge you for providing that coverage. They also get to decide how often they want to raise their premiums.
Premium stability is essential when selecting a Medicare supplement plan because if you develop health issues down the road, you won’t be able to qualify to change to a different company. A smart, independent agent will understand that putting the client’s needs first and recommending a company with excellent rate stability is not only in the best interest of the client but the best interest of the agent as well.
It’s common for us to hear something like: We’ve had our insurance for 4 years, and we’ve been pleased with it, it’s paid all the bills. EVERY COMPANY PAYS ALL THE BILLS! They are contractually obligated to pay all the claims that Medicare submits. You will not find a higher priced company paying better or worse than a lower rated company; it’s an impossible situation. Of course, you’ll still be able to see all your same doctors and go to the same hospitals.
Our free service helps people on Medicare save on average $600 a year on their Medicare supplement plan. If you’re married that’s doubled, so $1,200.
If you would like help with your Medicare supplement right away, Call us directly at 1-800-650-5242