Medicare Supplement Insurance is secondary insurance to Original Medicare. These plans are sold by private insurance companies to fill in the gaps of Original Medicare that you are required to pay. These plans are regulated federally but can also have state regulations that govern how insurance companies can sell the plan in their state. An example would be the state of Texas not allowing Texas Medicare Supplement Insurance to price their plans by "Gender". This means a male and female pay the same rate.Medicare Supplement Insurance Benefits
- Guaranteed Renewable - the insurance companies can not drop your policy. These plans will be there as long as you pay your premium.
- Standardized - benefits are the same between companies so it makes Medicare Supplement comparison much easier than a traditional health insurance policy.
- Electronic Claims - you do not have to file claims, they are filed electronically.
- Open Enrollment Period - the open enrollment period for Medigap plans allows you to join a policy with no health questions for 6 months. This is a huge benefit for someone with health problems.
Medicare Supplement Rates
If you have realized that Medicare Supplement plans are standardized you probably realize that they only difference between plans is their rate and financial stability! Comparing rates is important because there is no need to pay more than necessary for the policy.
In Mississippi, the lowest plan F is about $105 per month and the highest plan F is about $180 per month. There is no difference in benefits yet there is a $75 per month or $900 per year difference. Make sure you compare plans before signing up. To compare plans online go to out MEDICARE QUOTE ENGINE! To speak with someone on the phone call 1-877-936-2991!
Medicare Supplement Outline of Coverage
For more information on Medicare Supplement insurance contact our accredited advisors at 1-877-936-2991.