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Medicare has been known for providing expert advices to seniors on health insurance through its Medicare Supplement Insurance plan that gives them extra protection from what it has been providing them with. Also known as, Medgap Insurance, Medicare supplement insurance is an important policy that helps Americans who have crossed 65 years or are under 65 years of age but suffer from disabilities and wish to put a bulk of their health care needs on someone else’s shoulders. Although the Medicare supplement insurance guarantees limited care, it is exclusively designed to supplement Medicare and take care of all the other expenses that were not covered by the same, thereby reducing expenses from one’s own pocket. It has therefore become very popular among the seniors seeking more protection and help.

The most important thing to keep in mind before purchasing the insurance, one must look forward to what the insurance plan provides and whether what it provides fulfils all the demands or not. The Medicare supplement insurance plan is available in 10 standardized plans. These plans are labelled as A-J and all those health insurance companies that offer plans with the name of Medigap have to compulsorily offer either one or more of the standardized plans. None of these health insurance carriers can create their own medical plan with their self-designed benefit structure that is different from what Medigap actually provides. These standardization rules make it easy for the seniors to look into the various carriers and compare the benefits, which will mostly be identical but leave differences in the price demanded by the different carriers.

Plan A has the least number and kinds of benefits compared while Plan J has the highest. Some of the most desired Medicare supplement insurance plans include Blue Cross Blue shield Medicare Supplemental Insurance, AARP Medicare supplements, Secure Horizons, Aetna Medicare Supplement and Humana Medicare. The pricing set by different Medicare agencies may depend on age, zip code, and gender and tobacco usage. There are three ways by which various companies set the pricing standard for individuals: attained age pricing, Community rating and issue age pricing. Attained age pricing is the most popular method and depends on the age of the person seeking the insurance plan. The more the age of the person is, the more expensive the plan will be. Issue age pricing helps a person to set the rates at a particular age and avail to rates as if the persons were at that age when he or she purchased the plan. Community rating sets the price of a plan for a certain community and any person seeking the insurance plan from that community would have to pay the same price as any other individual from the same community. These plans make up to provide the best benefits to seniors in health plans.