Medicare Supplement
Medicare Supplement
Medicare Supplement Insurance (Medigap)
Medicare Supplement insurance (Medigap)
is private insurance that pays for health expenses that Original Medicare does not cover (copayments, coinsurance, deductibles). Medigap policies are sold by private companies.
When you have Original Medicare and you purchase a Medigap policy, Medicare will pay for 80% of Medicare-approved health expenses. Then, your Medigap policy will supplement the 20% gap in coverage by paying its share.
You pay the private insurance company a monthly premium for your Medigap policy. You pay this premium in addition to the monthly Part B premium that you pay to Medicare. You can buy a Medigap policy from any insurance company that’s licensed in your state to sell one.
Medicare Supplement Plans
There are 10 standardized Medigap plans, identified by letters, A through N. Medicare benefits are set by the federal government and are all federally regulated; but all monthly premiums are not the same when comparing each individual plan, A through N.
The most widely known plans are Plans F, G and N. Each one is slightly different.
Why you should select Alton Bell as your Insurance Agent
All plans that start with the same letter offer the same coverage, regardless of the insurance company that sells it.
With this in mind, there are only three things that matter to you when selecting the best insurance company for your Medicare Supplement coverage.
- Monthly Premium
• If all plans that start with the same letter offer the same coverage, you obviously want the lowest premium available. - Financial stability of the insurance company
• This is actually more important to me as an insurance agent than it is to you as a policy holder. I will be happy to explain this when we talk. - The insurance agent you select
• It is very important that you work with an independent agent who has several companies to choose from in order to find you the best monthly premium.
• You also want an agent who will be available whenever you have a question or problem concerning Medicare. My most important job is Customer Service for my clients.
• Since premiums go up from year to year, you need an agent who can explain the reasons for these increases and help you find a new company when your premiums get too high with your current company. This generally needs to be done every three to five years.
• Your agent should also help you find the best drug coverage from year to year (see more information about this on the Medicare Part D page of this website).
The bottom line for you as a policy holder is to have an agent who is experienced and ready to help whenever you have a question or problem concerning Medicare. As your agent, I commit to be your personal advocate with regard to all aspects of Medicare.
Please call me directly at 214-763-2559
or toll free 877-528-4634 for a free consultation or simply more information. I look forward to your call.