Medicare Supplemental Insurance Quotes - Medicare Supplements Made Easy

How do you buy a Medicare Supplement Insurance Policy?

Individuals interested in doing some comparison shopping have quite a few decisions when choosing how much, or how little, to spend on a Medicare supplement plan to act as secondary insurance to Original Medicare.

A premium evaluation will show a wide range of premiums available for Medicare Supplement Insurance plans, also referred to as Medigap insurance because the plans are designed to fill in the "gaps" that original Medicare does not cover such as co-pays, coinsurance and deductibles.

For Medicare Supplement Plan F, by far the most popular of the Medigap policies, the average monthly premiums range from $95 to over $275 for a 65-year-old man or woman. Because pricing is usually based on the age you take the policy out, Plan F is between $120 and $325 for a 75-year-old man or woman.

Due to the fact that Medicare Supplement Insurance Plans contain the same coverage no matter which company is selling them, it makes an ideal arena for comparison shopping. However, even though the plans are identical, some consumers may choose a more expensive plan because they had done other business with a certain company in the past and had a favorable experience.

Although it is the most important factor, cost should not be the only consideration in selecting a Medigap plan. Customers should also consider other things such as customer service and special discount. For example, some insurance companies offer a marital discount if both spouses apply for coverage or other discounts for having multiple policies.

The best time to purchase a Medicare Supplement plan is as soon as you turn age 65. During the first six months, insurance companies must accept all applicants, regardless of any preexisting conditions. After you have been on Medicare for a period of 6 months and do not qualify for special Medigap open enrollment, insurance companies can deny you coverage based on previous health conditions.

Frequently, seniors who are still very healthy at age 65 do not buy a Medicare supplement plan to save money and realize that they need coverage later when their health declines - only to be denied by an insurance company. This is why it is so important to get a Medicare supplement when you turn 65, regardless of your current health status.

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