Texas Medigap plans are a great way to avoid the ever-increasing costs of Medicare. The most important thing to remember about Medigap insurance, nationwide, is that the plans are Federally-standardized. This just means that all of the companies must offer the exact same coverage plans. There can be no variations or “extra” benefits on one plan than there are on another from a different company. So, a Plan ‘F’ is a Plan ‘F’, no matter who sells it to you.
This is important to remember because rates can vary greatly from one company to another. It is always to your advantage to compare plans in an unbiased way to have an idea of which company is going to provide the best deal on your selected plan for your specific age and zip code.
When doing a rate comparison for Medigap plans in Texas, you should, whenever possible, consult with an independent agent or broker. Someone in this position can give you unbiased information and feedback on which plans are going to be best for your specific situation.
Currently, in Texas, there are many companies that sell Medicare Supplement plans. However, prices can vary dramatically. The companies that currently provide the most competitive rates are Mutual of Omaha, Forethought, New Era, Sentinel Security and Gerber. Other companies, which offer plans in TX and are highly rated companies, include AARP and American Continental (Genworth).
Even knowing the companies themselves does not guarantee you can find the best rate available. Rates are based on your age and zip code, so in West Texas, one company may be better, and in a different part of the state, a completely different company may offer more competitive pricing.
The most common plan is Medigap plan F. This plan pays everything that Medicare itself doesn’t pay at the doctor and hospital. If you are in your open enrollment period (turning 65 or going on Medicare), or “guaranteed issue” period (losing employer coverage or Advantage plan coverage), it is advisable to look at what the plans cover to see which is the best fit for you. While Plan F is the most common plan, held by approximately 40% of people on Medicare Supplements, Plan G is often a better value. The only benefit difference between the two plans is the coverage of the Medicare Part B deductible, which is $162/year. Often, the premium savings offsets this deductible, making ‘G’ the better value.
To get Texas Medigap quotes, you can simply visit our Medigap quotes page at http://medicare-supplement.us/medicare-supplement-quotes.php. By requesting information, you will get a list of plans and companies available for your age and zip code that are the most competitively priced. This way, you can do an unbiased evaluation of which option is right for you.