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Advice To People Considering Changing Medicare Supplement Plans

I am going to share a article-like transcript of a recent phone conversation I had with someone I spoke with who was interested in getting a new Medicare Supplement Policy to save some money. He was referred to me by one of my existing clients, in which I will call "John Doe" to conceal his identity. I will refer to the man he referred to me as "Jack Smith" to conceal his identity as well...

Hello Jack, so I understand that you want to save some money on your Medicare Supplement Plan and you are currently with XYZ insurance company. I spoke with someone last week who previously had a Plan C Medicare Supplement through that same company, and was paying close to $200 per month as an individual. I was able to switch her Supplement plan to Gerber (the same company as the baby food, also offering Medicare Supplements) and I recommended a Plan G that had nearly the exact same benefits, and cost $136.82 per month. I was able to save her about $63.18 per month, or $758.16 per year. Of course, I would have been able to enroll her into a an identical Plan C as she had before, but the "Plan G" that I recommend is a better investment of your premium dollar, and has a lower cost. Now, Gerber insurance company may, or may not be the best company for your in your specific area, but I can check to see what's best for you after I explain a few things first...

John Doe informed me that you live in Florida, but your primary residence is in Pennsylvania. I happen to be licensed in both of those states, as I am licensed in most states throughout country. Florida has about the highest rates/prices throughout the U.S., and with your “primary residence” being in Pennsylvania, that would be the best place to purchase a plan through (lower premiums).

Now let me explain a few things… Medicare Supplement Policies are “standardized” by CMS (Centers for Medicare & Medicaid Services). This means that Medicare designs the different Medicare Supplement Plans, and if the insurance companies want to sell them, they must offer the exact same benefits, the only difference is the price. Currently there are plans lettered from A to N. It is very common to have a Plan F, as John has told me you and your wife both have. If you compare a Plan F (or any plan) to another company’s "Plan F", it is required by law to have the exact same benefits, absolutely no change in coverage. That means that you should look for the very best price, and compare all Medicare Supplement Quotes. By switching plans, you will still be able to choose any doctor or hospital within the United States that accepts Medicare, and the plan will virtually pay everything after Medicare pays.  A Plan F is a Plan F, no matter which company you purchase it through.

John Doe has informed me that you and your wife are paying close to $350 per month combined for your Medicare Supplement Plan F through XYZ company. I would be able to get you and your wife that same Plan F, NO CHANGE IN BENEFITS AT ALL, for a combined price of $331.80, which would be an annual savings of about $218.40. OR I could get you a Plan G for a combined total of $272.93 per month, which would be a total annual savings of about $924.84. A 5-year savings estimate with the Plan G is about $4,624.20. Both of these plans that I quoted you are through Mutual of Omaha Insurance Company. I represent several companies, and Mutual of Omaha happens to have the best rate in Pennsylvania--specifically in your area.

I believe that the Medicare Supplement Plan G is the best investment of your premium dollar. Most Insurance Agents get paid by straight commission; so unfortunately, many agents sell the most expensive plan to get paid the most commission. I only recommend the plan that I feel will be the absolute best for my clients, and do not recommend a plan based on how much commission I will get paid. I also pride myself on providing outstanding customer service. I will do a policy review for my clients at least once per year to make sure they always have the best plan at the lowest cost, and am always here to help!

Many people are also un-aware of the fact that you can actually, drop, purchase, or change your Medicare Supplement plan at anytime throughout the year. You do not have to wait until the end of the year like many people think. That end-of-year time frame is only for people who are switching Medicare Advantage plans or drug plans, which are vastly different then Medicare Supplement Plans.

I believe that changing plans would be an excellent idea for you, and give you a chance to save some money, while still keeping the same great benefits. Also, you will have an agent that you know will do what is in your best interest....


If this sounds like you, and you think you may be over-paying for your Medicare Supplement Plan, I strongly urge you to shop around for different prices and see what company offers the lowest prices in your area. Of course, you can also call us anytime and we will help you shop ALL the companies and prices for free. You can reach us toll-free at (855) 419-3826, or fill out the quote request form on our website for immediate online plan comparisons.

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