One of the most confusing things for most senior citizens is trying to compare Medicare Supplement plans using a Medicare Supplement Comparison Chart. Seniors often find it overwhelming to determine what plan they like best and which plan will fit their needs. Individuals looking to compare Medicare supplement plans should first start off understanding a few main concepts.
#1 - Medicare Supplement plans are standardized by Medicare, so the different plans available (lettered Plan A -- N) include the same benefits, regardless of which insurance company you purchase it through. Meaning, if you purchased a "Plan A" with one company, versus a "Plan A" with a different company, the benefits would be identical--the only difference is price.
#2 - When comparing Medicare supplement plans using a Medigap Comparison Chart, it will be important that you compare like plans from the different companies you are considering. This means, don't compare a "Plan A" with one company versus a "Plan F" with another company.
#3 - You shouldn't focus ONLY on the monthly price. Although the plans are the same from company to company, it would be logical to shop companies on price only. Although this is mostly true, you still need to keep in mind that insurance companies will take a rate increase every year. you want to make sure that you are selecting a good Medigap company that will remain secure and hopefully take as low of a rate increase annually as possible. It might be worth an additional $10 per month for a company that will save you a lot of money in the long run with smaller annual rate increases.
#4 - When you are looking at Medicare supplement comparisons, you should also try to make things as easy as possible on yourself. When you are trying to compare plans and look at what one plan offers vs. what another plan offers, it is recommended that you cross off the benefits that are the same, so you can only see the differences between the different plans. This will help you easily spot the differences of what one plan has and another doesn't.
#5 - The best way to learn about Medicare Supplemental Insurance is to contact an insurance broker (like us) who specializes in Medicare supplement plans. You will receive non-biased advice on which plans and companies are best, because we don't work on the behalf of the company, we work for you. There is also no charge for our service. A broker will be able to help you complete a Medicare supplement plans comparison & review prices to find the absolute best options in your area. You can fill out our free quote form on our website or call us today at (855) 419-3826 for your free Medicare Supplement consultation.
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