Garrett Ball is an independent Medigap agent. His company Secure Medicare Solutions works with individuals going on Medicare or those with questions about Medigap plans as an unbiased, centralized place for “shopping” Medigap plans.
Signing up for a Medigap plan is very easy to do if you follow a few straight-forward guidelines. This article is a primer for signing up for Medigap plans. Follow these four steps and get the plan that is right for you every time.
- First of all, understand that the plans, and everything about them, is standardized. What this means is that the coverage, claims payments, doctor acceptance, etc. are the same with each company on “like” plans. For example, a Plan F with one company is the same as a Plan F with another company. Don’t make the mistake of thinking that, simply by paying more, you are going to get more. This is not the case with Medigap plans (when comparing the same standardized plan).
- Secondly, don’t do something that your neighbor or relative did just because they did it. Sure, they may be intelligent, but I’ve seen lots of intelligent people (even a few financial advisors or CPAs) paying hundreds a month more for a Medigap plan than they should. Maybe your neighbor or relative’s plan IS right for you, but just because they have it, doesn’t mean you should. Keep in mind that there are several variables that impact rates (and therefore impact which is the best plan for you). Some of these variables are age, gender, zip code, health, etc.
- Use an independent agency to compare. To sign up for a Medigap plan through a company or agent that does not have access to all the plans is not a financially prudent idea. While that person or agency may have your best interests at heart, without comparing multiple options, you’ll never know for sure. Whether it is us or someone else, it is advisable to get the rates from, and compare plans through, an independent agent.
- Lastly, get the plan that makes sense for you and sign up hassle-free. Choose a plan that fits your financial and health situation. Although 40+% of people have Plan F, that doesn’t necessarily mean it is the right choice for you. So, base your decision on your situation. In most cases, you come out better on a different plan. Also, don’t be fooled into feeling like you have to meet with someone or go through a bunch of “hoops” to sign up. Signing up for a Medigap plan is really very easy and can be done online, over email, over the phone etc.
If you have any questions about Medicare or Medigap plans, feel free to contact Garrett Ball at 877.506.3378 or on our website.