Before you choose a Medicare supplement plan, you want to make sure you are getting the best deal possible. You have tons of choices, and making the right one is not only difficult but vitally important. Choosing the best plan at the best rate can save you hundreds of dollars every year. Every insurance agent will tell you that if you want to save money and ensure the best coverage, you need to compare Medicare supplement plans for 2017 or any other year you are wanting to sign up for.
There are two things you need to compare- the coverage and the price. We’ll talk about both of those here.
Each plan has individualized coverage. There are ten Medicare supplement plans, and not one of them is identical. That can mean that there are a lot of choices for you, but you don’t have to make it very complicated on yourself.
Just ask yourself a few key questions: Do I need a lot of coverage beyond the basic Medicare plan? Can I afford to pay for a lot of extra coverage? Do I have serious medical needs that require constant medical care?
How you answer those questions will help you determine which category of coverage plan you need. There are two categories- high coverage and low coverage. The high-coverage plans include plans F, N and G. All the other plans fall into the low-coverage category. Once you know which category would have a plan that meets your specific needs, then you can greatly narrow down your choices. From there, you just have to look at specific coverage offered by each plan in the appropriate category and compare it to your personal needs.
Let’s look at the kind of coverage you could get with one of these supplemental plans. They can cover a number of medical costs, but not every plan will cover all these items, obviously. Some of them only cover parts of many of these costs as well.
Coverage items included in Medicare supplement plans are:
- Nursing care at approved facilities
- Hospice care
- Deductibles for both Medicare Part A and Part B
- Co-payments for both Medicare part A and Part B
- Excess charges for Medicare Part B
- Three pints of blood every year, in addition to coverage already provided by Medicare
- Foreign emergency care, minus a deductible and with a coverage limit
Only Plan F, out of all the Medicare supplement plans, will cover all those items in full. Any of the other plans will choose to leave one or more of them for you to pay on your own.
Now, most people don’t need all that coverage listed above. Only a small fraction of Medicare subscribers will need that full coverage, so be sure you are looking at all of your healthcare needs before you decide on a plan. Make sure that you aren’t spending money on a lot of coverage you can’t really use. While it may be nice to have some extra coverage just in case, it is a good idea to compare Medicare supplement plans for 2017 to find the one that best suits you.
There’s something you need to know about Medicare supplement plans that not all Medicare subscribers realize. These plans are sold only through private insurance companies, and you would never be able to buy them through Medicare itself. It’s true that Medicare oversees these plans and even makes them itself. Only Medicare gets to decide how much coverage each of the plans has, but Medicare won’t actually sell them to you.
Private insurance companies are able to choose which of the plans they want to sell and even how much they will charge you for those plans. Medicare doesn’t make sure that prices are kept under some sort of maximum limit, so you could pay exorbitant prices for the same coverage.
That’s a key to saving money on these plans. You should be looking for the cheapest version of the plan you want, in most cases. The coverage won’t be different on an individual plan just because the price is different. Let’s examine that for a moment. Say you were to look at the price of Plan N from Mutual of Omaha and AARP. They probably have different prices for that same plan, but that doesn’t mean there is something different about the plan. It would still cover the same medical costs, regardless of the price.
You never lose coverage just by choosing a different insurance company for the same plan. Medicare will guarantee your coverage, making sure that you always get the same coverage on the same plan, no matter where you buy it from or how much you pay for it.
That means you should be looking for whichever company is selling that plan at the lowest price. Once again, you might feel a little overwhelmed, like there are too many choices. But we can help you with that.
We Help You Compare
If you come to our website, we can assist you in comparing plans and rates. We have a resource known as a quote generator that searches for the plan you want and finds you rates based on your location. These are not rates we have been storing up, but instead, we perform a new search every time you use our generator. That means fresh, current quotes that are guaranteed to be accurate.
And you can go from finding rates on our site to signing up for the plans right there. You don’t have to go anywhere else. We’ll help you find the best plan for you by giving you resources you need to search through what is available. Then we will present you with several choices for great rates that apply to your local area.
This saves you a ton of work as you try to compare Medicare supplement plans for 2017. You can also be sure you’re getting great rates, since it is easy to compare the prices when we give you multiple quotes for each search you make.
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