Medicare Supplement Plans Comparison
When thinking about getting a Medicare Supplement plan, it is a good idea to see what health plans are being offered. Comparing the Medicare Supplement plans will help you to make an informed decision and find the plan that would fit your needs. You will want a plan that will take in all the medical issues you want covered and save you money for your budget. Many seniors do not feel they have enough coverage with just Original Medicare and want to find a health plan to cover the other expenses, which is why it is important to get a Medicare supplement plans comparison. Supplement insurance plans can take care of the remaining costs left by Medicare.
The Plans You May Want to Consider
It would take too much time to discuss the eight Supplement plans available, but we would like to tell you about the most popular plans that most seniors like. These plans have great coverage and also have great value for the cost of them.
Medicare Supplements are also called Medigap plans and, at the moment, Medigap Plan G is a very favorable option. Plan G has some of the most coverage available and offers a reasonable rate as well. For seniors who live on a fixed income, this plan can help a senior save money and have good coverage for their medical issues.
So what will Medicare Plan G cover for you? You will get coverage for the Medicare Part A expenses, such as, copayments, annual deductible and hospice care. You will also have coverage for Part B expenses, such as foreign travel exchange, nursing care and excess charges. Plan G will also take care of the first three pints of blood you might use every year.
Medicare Supplement Plan N is another plan with great coverage and may cost less for the premiums. With Plan N you will have to pay for some of the Medicare Part A and then only pay a small portion of the Part B costs and it will also take care of some of the copayments. Plan N will also cover nursing care, three pints of blood, and the foreign exchange costs up to 80% for each incident.
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The Discontinued Plan F
In the past, many seniors acquired Supplement Plan F and it was a very popular plan. This plan has been discontinued because it cost too much to maintain for all it offered. It had full Supplement coverage which many people do not really need. Some people find it easier to pay the remaining costs Medicare does not pay out of their own pocket. But if you were to have a large medical expense, this can be very costly. So a Supplement plan would help take care of those expenses and ease your mind.
Plan F is no longer protected from high price increases and the pricing can change accordingly and can get too high for a senior to pay for. Those seniors that do have Plan F can keep renewing it each year, but may find the increase too much to pay for as it increases each year. It would probably be best to find a plan that would be less costly and still provide the necessary coverage you would need. Supplement Plan G or Plan N will offer you the most coverage and have greater value.
Do a Price Comparison
We think it is a good idea for seniors to check out the plans and their cost, to find the right plan for their own situation. You might be surprised how inexpensive some of the plans are and the coverage you will get. Comparing these plans is essential to find the right coverage and save you as much money as you can. Many seniors do not do this and may not have their medical needs taken care off.
You can go to our website and find a chart that can help you immensely. You will need to put in your zip code and the plans being offered in your area will be shown. You need to put in your zip code, because not all plans are offered in your area and the cost of these plans will be different in each state. The insurance companies have the choice of selling which Supplement plans they want to sell and the rates they will charge for them. Using our chart will help you see, at a glance, what is available and will help start the process of finding a plan to meet your needs. This will save you much time, instead of having to contact each insurance company about their plans and rates, which can take up a lot of your time. You might wonder how these insurance companies can have different rates for the same Supplement plan and that is because they can offer additional benefits to entice their clients. Some of the benefits could be a free gym membership, good client service, and being able to talk to a health practitioner 24/7 when you have a medical problem and don’t know whether to go to the doctor or not. These are just some of the extras an insurance company can have and therefore have different rates from each other.
You will need to keep this all in mind when you choose the Supplement plan and insurance company you are going to go with.
Comparing the rates these insurance companies charge will probably be the most important factor for a senior. Medigap plans can be anywhere from $50 a month to $200 with many plans being around $140. Most likely seniors will pay approximately $1700 a year for the Supplement plan. But it is great to have all the coverage you may need and not have to pay much out of your budget.
A Comparison of Insurance Companies
We aren’t able to tell you about each insurance company offering Medicare Supplement plans, but there are a few that are better than others. These companies have a reputation for their customer service and low rates.
Blue Cross Blue Shield is another insurance company to consider comparing their rates with other companies. You may find they have some of the lowest rates and their perks may not be as much, but their rates can be lower.
Cigna is another insurance company you may have heard of. They have an enormous network and a good assortment of health plans to choose from.
Another insurance company that is fairly well known is Humana. Their perks also include a gym membership, talking with a health professional and fitness plans. They offer many Supplement plans at good prices.
Aetna is one of the best choices and has a great reputation for their Medicare Supplement plans. They also offer their clients some great benefits at no extra cost to a senior.
Whatever company you choose, you will need to compare the Supplement plans they offer and the rates they charge. You may have many questions and we are here to help give you the answers you need. Our informed agents will be happy to help you and find the plan that will suit you. There is no charge for this service, so don’t hesitate to call.