Medigap Quotes – Three Reasons Why It Makes Sense to Get Them

Medigap Quotes are readily available from many sources, especially this time of year (during the annual enrollment period for the other types of plans – Part D and Advantage plans). It is highly advisable to get quotes for Medigap coverage (also called Medicare Supplements) on an annual basis, if you are already on Medicare. This way, you can confirm that you have the best “deal” available, and if you do not, make a change to save money.

There are three primary reasons why you should obtain Medigap quotes:

  1. First of all, and quite simply, the plans are Federally-standardized. If you are on Medicare and have a Medicare Supplement (Medigap) plan currently, you have one of the standardized plans, which are named after letters. For example, a Plan F is the plan that fills in all the gaps in Medicare Parts A & B so that you don’t have any out of pocket costs at the doctor or hospital. If you have a Plan F with one company, it is very easy to compare other Plan F’s with other companies to confirm that your plan is the most competitively priced.
  2. Secondly, you should obtain Medigap quotes because it is extremely easy to do and does not cost you anything. In fact, in 90% of cases, you can save money on your Medigap insurance for equal coverage. Because of the above point, that Medigap plans are standardized, you can often save money. Insurance, particularly Medicare insurance, is an extremely fast-moving and changing thing. A plan that is good today may not be competitively priced tomorrow. Because of this, it is important to stay “on top of” your coverage and compare quotes on an annual basis. You can do so online. The rates themselves aren’t published online (this is not allowed by most companies); however, if you find the right independent brokerage, you can get a rate quote comparison sent to you by email. Full disclosure: we do this and would be happy to send it to you if you want to request Medigap quotes – Go to our website
  3. Last of all, you should get Medigap quotes to save money. Since the plans are standardized and the quotes are easy to obtain, you can usually save money. Everyone likes a little extra money in their pocket and this is one of the easiest ways to get it. Keep the same coverage and save money – it’s a no brainer.

If you would like more information or to obtain Medigap quotes by email, please request information on our website or give us a call. While many people do this this time of year, during the annual enrollment period for the Part D plans, you can actually change Medicare Supplements at any time, and should consider doing so whenever your rates change, which is typically on your policy anniversary date.

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