Your Medicare Supplement Plan - Have You Shopped Around Lately?
It's funny. Think about how often we "shop around" when we are about to buy a product. Whether it's buying groceries, electronics, stuff for the home, staples - you name it - we always want to pay as little as possible. We want to make sure we're getting the lowest price, so we "shop around." If you are that kind of person (most of us are), you have to ask yourself this question - have you "shopped around" your Medicare Supplement Plan recently? Are you getting the best bang for the buck on your Medicare insurance? If you shop around correctly, you potentially could save a lot of money on your Medigap plan
It is important to understand psychologically why you might not have "shopped around" your Medicare Supplement Plan. First, Medigap plans for many seniors tend to be quite confusing, and people might not want to wade into those waters again. Second, we might be lazy. Your current plan is working well, so why bother? Third, Medicare Supplement shopping around is not as fun as going shopping for clothes or that big screen TV. Fourth, many people are under the wrong assumption that you can only change Medicare Supplement Plans during "Open Enrollment." Not true! You may be able to switch from one Medicare Supplement Plan to another at any time during the year. There is no Enrollment Period that you have to wait for. It is important to understand and then overcome these objections to shopping your Medicare Insurance, since you might be losing hundreds of dollars a year with an expensive plan.
How might you save all that money on your Medicare Supplement Insurance? It is significantly easier than you think! The important fact is that that Medicare plans are standardized. For your chosen plan, there is no difference in coverage between company to company! For example, if you have Medicare Supplement Plan F from one company, all other company's Plan F is identical to your current Plan F. No difference whatsoever in the benefits. If a doctor/medical provider/hospital accepts Medicare, they will accept all Medicare Supplement carriers.
The only difference is the price each Medicare insurance company charges you. The price difference can be substantial. I recently did a telephone review of a husband and wife's Medicare Plan. After a ten minute analysis, we were able to save this couple over $1,000 year on their premium, while keeping the same exact coverage! Thus, keep your Medicare insurance company "honest." Have a professional shop around for you to get the lowest cost plan available. You too, might be able to save hundreds of dollars a year, while maintaining the identical high quality Medicare coverage.
Allen Heffler, CLU, ChFC is a licensed Insurance Agent located in Philadelphia, PA. He specializes in Medicare Plans and can be reached via telephone- (215) 658-1555, email- heff@comcast.net or website http://www.mymedicareadvisor.com/
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