Why do I need medicare supplement insurance?

Original Medicare doesn’t cover all medical expenses, so when there is a “gap” or a health care cost that isn’t covered (like co-payments, co-insurance, deductibles, etc.) that’s when Medicare Supplement insurance comes in. Medicare Supplement Insurance, sometimes called “Medigap Policy,” is private health insurance used to supplement Original Medicare.

Original medicare + Medicare Supplement insurance = A Powerful Duo.

Original Medicare, when combined with a Medicare Supplement Policy, reduces surprise health care costs and gives you peace of mind. If a medical emergency arises or if you have healthcare costs in general, original Medicare will pay it’s portion of the approved amounts, then your Medicare Supplement policy will pay its portion.

Medicare Supplement insurance companies can only offer ‘standard’ Medicare Supplement plans. The plans are labeled A through N.

Wait, the same plan is a different price?

Most people don’t realize that each Medicare Supplement policy must offer the same benefits, regardless of which insurance company offers it. Federal and state laws are in place to protect you and require each policy to offer the same benefits. This does not mean, however, that insurance companies charge the same price. often the price insurance companies charge for the same plan will vary widely.

“Different insurance companies may charge different premiums for the same exact policy” — Medicare and You Guide pg. 68

Why can’t I do this myself?

Since cost is usually the only difference between Medicare Supplement plans, it becomes very important to research multiple companies to ensure you are getting the best price with the best rated companies. However, for an individual to research what plan is right for them, then research 15-20 companies to find which offers the best price can easily be weeks or months of work. Our highly knowledgeable advisors will assess your needs and quickly find a plan that is tailored to your unique needs. Then, using their special access, compare more than 20 companies’ plans to ensure you have the best price. In the time it takes to make one phone call, you will know what plan is right for you and have confidence you are getting the best price. Potentially saving you weeks or months of research on your own. What our clients like most about Senior Plus Advisors is that we don’t stop there. We continue to search for the best price for you. Each year we can review your policy and compare other plans to ensure you have the best deal. Call today to hear how we can assist you better.

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