Top Medicare Supplement (Medigap) Questions
I am happy with my supplement, why should I change?
Everyone is happy with their supplement but what they should be happy with is Medicare. Medicare pays most of the bills. Medicare dictates what the supplements pay. In fact, the supplement cannot pay anything without Medicare and when they pay, they all pay the same. So in reality, no one is happy with their supplement, they are happy with Medicare and they should be glad that they have a supplement to fill in the gaps. They simply should not pay more for one supplement over another!
If all plans are the same, why should I shop my plan?
Certain insurance companies provide discounts for woman, couples, non-smokers and use medical underwriting. The only way you can make certain you are NOT over paying is by shopping your current rate.
Will my Doctor accept my supplement?
No matter which insurance company you are with, your Medicare supplement will be accepted by every doctor and hospital that accepts Medicare.
Are all Medicare supplements approximately the same price?
There can be dramatic differences in price between insurance companies for the EXACT SAME COVERAGE.
Does one insurance company’s supplement have more benefits than another?
Since all Medicare supplements are standardized, if an insurance company offers Plans F, G and N for example, then they offer the exact same F, G and N and that every other company offers. All Medicare supplements are standardized by the government.
When is the best time to review my Medicare supplement?
You can review your Medicare supplement anytime but we suggest you review on your policy anniversary which is typically when you will have a rate increase. In our world, our clients will stay with a plan for two to four years depending on the rate increases. If your supplement is not through our office, it may be worthwhile to review your supplement even after just one year just to make sure that your are not overpaying.
Can I only change my supplement during Open Enrollment?