It is very possible that you can get the same coverage for 30% less just by shopping around. It’s also possible that you may not be comfortable with the coverage they have. Maybe they are willing to accept more risk. Are you? These are legitimate concerns that your neighbor is not going to be able to address. The bottom line is when it comes to Medicare supplement plans, the cost is a big factor. Would you pay more for the exact same car by purchasing it from one lot versus another? Why would you do the same with your Medicare supplement? The answer is that you wouldn’t if you were sure that the plan you have is the exact same coverage as the more expensive plan.
In reviewing Medicare Supplement Plans 2019, like those at https://www.medisupps.com/medicare-supplement-plans-2019/let’s address the various companies. There are over thirty companies approved to offer supplement plans in the state of Pennsylvania. A few of these companies you may have heard of, most of them you have not. Some companies pay millions for advertising so that you are aware they exist. They build a brand and establish trust simply through commercials. Other companies depend on their agents to educate clients and sell their products. Does it change the coverage? No, the plans are still the same. The companies are regulated the same. The only difference is that you are either working with a specific company through an 800 number or you are working with an agent who will meet face to face and explain things to you. If you go with the agent, you will generally get personalized serve and a less expensive plan.
In addition to Medicare, Medicare Supplement or Medigap plans help to cover what is not covered by traditional Medicare. Generally, senior citizens are enrolled in Medicare upon reaching the age of 65. While this governmental plan is a great one, it only covers 80% of approved medical costs. Many seniors seek to enroll in a Medicare Supplement plan to help cover the other 20% not covered by Medicare. Since ratings Medicare supplemental providers vary so greatly, it is always essential to do your research beforehand. Many different factors can play a role in what your actual premium price will be. Your age at the time of your application can make a difference because insurers assume that as you age, you are more likely to develop health issues.