How to Find the Most Affordable Medicare Supplement Plans

Thousands of seniors across the country will be trading in their Medicare Advantage Plans for original Medicare and one of the many Medicare Supplement Pla…

Thousands of seniors across the country will be trading in their Medicare Advantage Plans for original Medicare and one of the many Medicare Supplement Plans offered by private insurance companies.  While this is a great decision because of the superior benefits and freedom to choose your doctors and hospitals, these plans can be very expensive.  Knowing how to find an affordable plan can save you over one thousand dollars per year while still providing excellent benefits.

The most important thing to remember when purchasing a Medicare Supplement Plan is every plan is standardized by the Center for Medicare Services.  This means every company offers the same plans with exactly the same benefits.  These insurance companies cannot change the benefits, nor can they add additional benefits.

Knowing all insurance companies offer the same exact Medicare Supplement Plans, it is extremely important to get quotes from multiple companies before purchasing a plan.   Companies charge very different rates for the exact same coverage, and it is wise to choose a company that offers a low price.  This is one exception to the rule “you get what you pay for”.  In this case, you get the same thing regardless of how much you pay.

In an effort to find the most affordable Medicare Supplement Plans, it is wise to consider one of the new options available.  Medicare Supplement Plan N offers very good coverage for a very low price.  You will have to pay a small $155 deductible for physician services, as well as $20 co-payments for doctor visits and $50 co-payments for emergency room visits, but you will likely save hundreds of dollars because the monthly premium is so cheap.  This is a fabulous plan for a low price.

Many people choose to purchase Medicare Supplement Plans from popular companies thinking they will have better coverage.  The truth is these companies do offer great coverage, but you can likely find the same exact coverage from a less well-known company for a much lower price.  Furthermore, Medicare Supplemental Insurance is secondary in nature, so financial stability isn’t necessarily a factor when choosing a plan.

The best way to find the most affordable Medicare Supplement Plans is to consult a national insurance broker.  They should be able to offer expert, unbiased advice regarding all Medicare Plans and should be able to provide multiple quotes.  Furthermore, they can help you choose a plan offered by a company that offers low prices and great customer service.