Medicare Supplement Plan – Have You Shopped Around of Late?

It can be funny to think about how people often “shop around” when they are about to purchase a product or service. Whether it’s buying electronics, groceries, cars, items for the home –you name it –they endeavor to see how they can get the best possible at minimum cost. They always want to ensure they are getting the cheapest price; for this reason they “shop around.” If you are such an individual –of course most of us are –you need to ask yourself if of late you have taken time to “shop around” for your Medicare Supplement Plan? Are you getting the best Medicare insurance that is commensurate with what you pay? You could potentially save a lot of money on your Medigap plan if you shop around the right way.

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It is important to understand the psychology of why you may not have “shopped around” before choosing a Medicare Supplement Plan. First of all, Medigap plans available for many seniors have the tendency to be quite confusing, and many people may not be willing to go through the process all over again.

Another reason may sometimes be laziness; your current plan is doing fine, so why bother yourself? Thirdly, shopping around for Medicare Supplement is not as pleasurable as shopping for shoes, clothes or the latest mobile phone. The fourth reason is that many people have the wrong assumption that Medicare Supplement Plans can only be change during “Open Enrollment.” This is not true! At any time during the year, you may be allowed to switch from one Medicare Supplement Plan to another. There is no such Enrollment Period that you have to wait for.

To shop for your Medicare Insurance, it is important that you have an understanding of these objections and then overcome them, because you may be losing hundreds of dollars each year with an expensive plan.

You may wonder how you can save all that money on your Medicare Supplement Insurance. It is way much easier than you think! An important fact to note is that that Medicare plans are standardized. There is no difference in coverage from one company to another for any plan you choose! For instance, if you have Medicare Supplement Plan D from a certain company, all other company’s Plan D will be identical to your current Plan D. There will be no difference whatsoever in the benefits. If a hospital/doctor/medical provider accepts Medicare, they will also accept all Medicare Supplement carriers.

What’s different here is only the price that will be charged by each Medicare insurance company. The price difference can sometimes be substantial. For instance, after doing telephone review of a husband and wife’s Medicare Plan in a ten minute analysis, the couple was able to save over $1,000 per year on their premium, while maintaining the same exact coverage!

You need to make sure your Medicare insurance company is “honest.” Get a professional shop around to find the lowest cost plan available for you. You could also save hundreds of dollars per year, while still maintaining the same high quality Medicare coverage.