Choosing the Right Agent Can Result in Significant Savings on a Medicare Supplement Plan


First, what is Medicare Supplemental Insurance?  Medicare Supplement Insurance, in some states called MediGap, is a secondary form of insurance designed to fill the coverage gaps in Medicare parts A and B.   
               
Medicare Supplement plans are issued through private insurance companies, such as Anthem Blue Cross, Blue Shield and UnitedHealhcare.  By far the most popular is Plan F: most consider Plan F to be hassle free as it pays all of Medicare’s deductibles and there are no out of pocket expenses.

Because Medicare Supplement plans are regulated by state and Federal laws, all benefits for all options are the same regardless of insurer. The primary difference will be the cost or policy rate the insurers will charge for a particular plan. 

Choosing the right agent can result in significant savings on a Medicare Supplement plan.  An agent that represents multiple insurers has the best chance of finding the lowest rates on a Medicare Supplement plan.  In fact, the premiums on a Medicare Supplement can vary by as much as 40% on the same plan between insurance companies.  Consequently, if you are looking for a Supplement plan and go to an agent that only represents a few insurers, there’s a good chance that the lowest rate may be offered by an insurance company that the agent doesn’t represent. 

Bottom-line, the best way to ensure they are getting the lowest premium is to seek out an agent that represents multiple insurance companies offering Medicare Supplemental plans.

About the Author:  Margy Wenham has been working as an independent insurance agent for over twenty (20) years in Redding, California.  She represents most major insurance carriers and can be reached by calling 530.221.0955, emailing her at MargyWenhamInsurance@gmail.com or by going to her website located at www.MedicareSupplementByMargy.com. 

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