Once an individual's health care needs have been matched with an ideal Medigap insurance supplemental plan from the 12 offered (A-L), it's time to compare prices amongst reputable insurance providers in order to choose the best and most affordable health care option. Use the below guide (gleaned from Medicare'gov's "Choosing a Medigap Policy") to help with Medigap comparisons when weighing the costs of supplemental Medicare plans (Medigap):
Finding Providers Which Sell Medigap Insurance Supplemental Plans
The first step in buying a Medigap policy is to find which private insurance companies sell supplemental Medicare plans. This can be done in several ways:
- Contact the appropriate State Health Insurance Assistance Program and ask for something called a "Medigap rate comparison shopping guide." This will often provide not only the companies which provide insurance supplemental plans, but the plans' costs as well.
- Contact the appropriate State Insurance Department, which will likely be able to direct those shopping for supplemental Medicare plans in the right direction.
- Go online and visit the website www.medicare.gov. Once there, look in the box entitled "Search Tools" and click on "Compare Health Plans and Medigap Policies in Your Area."
Questions to Ask When Comparing Medigap Insurance Supplemental Plans
Use this guide to help compare Medigap costs for identical supplemental Medicare plans sold by different companies:
- Ask the companies if they are licensed in the appropriate state. If any private insurance company says no, it should obviously be ignored.
- Since private insurance companies often sell some, but not all, of the different Medigap insurance supplemental plans (A-L), ask if the company sells the particular plan you've chosen. If a company says no, it should be ignored.
- Ask the companies if they use medical underwriting. If the answer is no, you need not ask any more questions of the company (assuming you have already checked their legitimacy), and can proceed to purchasing if the plan's benefits and cost are appealing. Similarly, if the answer is yes, but you are sure to either be in the open enrollment period or have a guaranteed issue right to purchase a Medigap insurance supplemental plan, then you can proceed to purchasing. If you are unsure whether or not you qualify, ask the companies if you do. They should be able to tell you.
- Ask companies if they have any wait times to process individuals with pre-existing conditions. If the answer is yes, be sure to record how long one must wait.
- Ask insurance companies how the insurance Medicare supplemental plan you're interested in is rated. To understand Medigap ratings, see Medigap Pricing for Insurance Supplemental Plans. This is an important tool to use when choosing a plan.
- If the policy is not community-rated, inform companies of your age and ask what the policy's price would be.
- Ask if companies offer special discounts or whether there are any hidden processing fees.
Be Wary of Illegal Practices
When shopping around for supplemental Medicare plans, be on the lookout for shady practices, which include:
- Companies offering to sell a Medigap insurance supplemental plan if you already own one;
- Companies which try to pressure you into buying a particular policy;
- Companies which try to sell you a supplemental Medicare plan if you have either Medicaid or a Medicare Advantage Plan as your health care option.
Knowing which practices to be wary of, as well as which questions to ask when shopping for Medigap supplemental Medicare plans, is empowering for health insurance customers as they wade through the complicated process of choosing the right health care option. By using the information in this article, consumers should feel prepared when ready to begin the process of purchasing a Medigap supplemental insurance plan from private insurers (such as Humana and Blue Cross Blue Shield).
David Harris-Gershon - David Harris-Gershon – a blogger for Tikkun magazine and a freelance writer on Israel, the Middle East and America’s role in ...
