Medigap Insurance Quote

Find The Best Medigap Insurance Quote

If you are 65 years of age or older you may be eligible for Medicare, the United States Government run health care system for senior citizens. While the insurance plan offers a lot of coverage there are gaps in Medicare that doesn’t give beneficiaries complete coverage. These gaps are called “Medigaps,” referring to medical expenses that are not entirely covered, and medical expenses that are not covered at all under the Medicare policy. Privately held insurance companies offer supplemental plans to give beneficiaries complete medical coverage, so Medicare combined with a supplemental plan together can give the insured a comprehensive insurance plan. Keep in mind the companies that offer the supplemental policies are not connected to the U.S. Government, so there are many providers to choose from. It might be best to do some research and go with the company who gives you the best Medigap insurance quote.
It can be confusing to decide which supplemental policy would work best in your situation. In fact, there are ten standard supplemental policies named by alphabet letters A through N, excepting H, I and J. That’s a lot of policies to read through! And while the U.S. Government pays for your Medicare premium, you would be responsible to pay the premium on a supplemental policy. It might make sense to really spend adequate time to read the fine print, write down questions and seek help from trusted friends and family members before selecting a policy. A company that gives a Medigap insurance quote should also be a good resource to answer questions and help guide you to the appropriate plan.
Having health coverage is so important. The Medicare plan is a valuable resource for senior citizens but, unfortunately, as it stands it doesn’t completely cover all the needs you might have. The premiums for Medicare insurance are covered at no cost to you, but you are responsible to pay the deductible amounts before Medicare coverage begins, and each year the deductible amounts can rise. To help control the rising cost of deductibles a supplemental Medigap plan can help. In addition to the deductible amounts, there are many gaps in coverage that could essentially give you an unlimited amount of medical expenses to be paid out-of-pocket. Medicare supplemental policies can help protect you against these unforeseen medical expenses.
If you’re nearing retirement and will soon find yourself among those who use Medicare benefits, it might be a good idea for you to obtain a Medigap insurance quote. Often the companies who offer supplemental policies know answers to questions you may have. They can help guide you to a good solution that might make sense to you. To talk to a specialist who may be able to offer answers to questions and guidance in selecting a good policy, a phone call to 1-800-MEDIGAP (1-800-633-4427) could be beneficial.
Medigap Insurance Plans
Who Needs Medigap Insurance Plans?

If you are over the age of 65, chances are you are on Medicare. While Medicare offers adequate coverage for a variety of services, it still leaves gaps in coverage. This can add up to you paying a large amount of money out of pocket to cover your healthcare expenses. Some companies offer extended insurance plans to former employees to help fill in these gaps. In today’s tough economic climate, however, more and more companies are cutting retirement benefits. If you don’t have any other form of insurance coverage besides Medicare, you probably need Medigap insurance.

Private insurance companies offer Medicare supplemental insurance, often referred to as Medigap insurance plans, to help senior citizens by paying some of the health care costs that Medicare does not cover. These typically include copayments, coinsurance and/or deductibles. Medigap insurance usually does not cover vision, hearing or dental care.

In order to determine if you need one of the ten standardized Medigap insurance plans, you will first need to know what type of Medicare coverage you have. Medigap is available to those who have Part A and/or Part B Original Medicare. It is not available if you have a Medicare Advantage Plan offered by a HMO or PPO.

Medigap insurance plans are consistent throughout most of the United States. The plans are standardized and labeled with the letters A-N; but Plans E, H, I and J are no longer offered, leaving you with ten different plans to choose from. No matter what insurance carrier you choose, the plans offer the exact same coverage. The pricing of policies is not standardized, however. You will need to shop around to find the best pricing method for your needs.

Medicare supplemental insurance premiums are usually calculated in one of three ways. No-age rated policies, also referred to as community rated policies, charge a flat rate over the course of the policy no matter how old you are. These usually end up being the least expensive policies in the long run, but often cost a bit more initially. Issue-age-rated policies are based on your age upon purchase and do not increase as you grow older; they do increase according to the cost of inflation, however. Attained-age rated policies are the least expensive upfront, but the premium increases as you age making it the most expensive of the three.

If you live in Massachusetts, Minnesota or Wisconsin, the Medigap policies are regulated and standardized in different ways. Rather than having ten plans to choose from you will only have two plans to choose from. Each state has different application guidelines, coverage limits and deductibles.

For more information on Medigap insurance plans and how to obtain a quote, call 1-800-MEDIGAP (1-800-533-4427). You will be able to speak personally to an experienced agent who can guide you through the process with understanding and ease.