Medicare Supplement Choices

There are several choices when it comes to Medicare supplements, but
the burning question is usually, which one is the right one to choose?

Medicare supplements are standardized across the nation, meaning if
one is bought in Texas, it is the same supplement/plan found in New
Mexico. This isn't new, as Medicare supplements have been standardized
since 1996, when they were first brought into being.

"There are 'plans' A-L and it doesn't matter what company they are
purchased from, as they are all selling the same plans," said Richard
Cantu, of GOMedigap in Texas. Even the claims paying process for these
various plans is identical in every state. "This means Medicare makes
the decision to pay out on a claim or not," added Cantu. If all the
supplements are the same, does that mean no one saves any money on the
insurance premiums?

"People can definitely save money by shopping around to the larger
insurance companies for Medicare plans," commented Cantu. The best
routine is to contact at least three larger companies and then compare
the quotes. There are also online sites that compare the top ten
insurance company quotes for Medicare supplements, such as GoMedigap.com .

"People could opt to deal with a smaller insurance company to buy Medicare supplements,
however the fact that there is a good price offered for the first year
does not mean the same kind of deal next year," outlined Cantu. The
reason for that is often smaller health insurance companies offer a
low, low price for one year to bring in clients. In GoMedigap's case,
when a rate hike is announced by one of Cantu's carriers, the clients
affected are contacted and GoMedigap assists them in locating another
company with better rates.

At the end of the year, the prices are hiked back up, which means
people would be shopping for another carrier – again. Larger companies
tend to be more stable in their pricing. So consider the larger names
in Medicare supplement insurance for that reason. "We recommend that if
the price hike at the end of the year is greater than 9-10% that it's
definitely time to shop insurance quotes," added Cantu.

Back to the question of choices: since the supplements are all the
same, except for pricing, choose what best suits a certain lifestyle,
circumstances and budget. It all works out in the end.

To learn more about Medicare, Medicare supplements, or Medicare supplement insurance visit Gomedigap.com.