(866)-894-3258Get FREE Medicare Supplement Quotes
See How Much You Can Save!
• Compare A-rated Companies
• Compare Insurance Plans F, G, & N
• Compare Rates Online
• Compare Insurance Plans F, G, & N
• Compare Rates Online
Medicare Supplement Insurance Online Applications
GoMedigap is widely known in the industry as a leader in the Medicare Supplement Insurance space. We take our jobs seriously and have a goal of both educating our clients on how Medicare and Medicare supplements work and ensuring you get a plan that best suits your needs. We’re prolific on all topics related to the space and have provided pointed and detailed information below to help you understand what Medicare and Medicare supplement insurance provide and how to best shop for a Medicare supplement.
You’ll find that we:
You can begin your search by reading more about how Medicare and Medicare Supplements work below and by getting Medicare Supplement Quotes right here on the website or by calling our toll-free number (866) 894-3258 and speaking with one of our experienced Medicare supplement agents.
There is no additional costs to you for our services and you’ll find that the rates we provide for a particular insurance plan from a particular insurance company are the same rates you’ll get for that same insurance plan and insurance company offered from any other agency or working directly with the insurance company that offers that same insurance plan. Allowing us to help can be beneficial since we work with all the top insurance carriers to find low rates on a plan that suits you well.
Medicare Supplemental Insurance is insurance coverage that was designed to cover gaps in Medicare, including deductibles, coinsurances, co-pays, and something called excess charges. This coverage is also often referred to as Medigap Insurance because it covers gaps in Medicare.
In order to best understand how Medicare supplements work it’s best to first understand the basics of Medicare coverage.
Medicare offers several benefits related to medical and prescription drug coverage and on its own can provide pretty decent coverage although it can leave you exposed to potentially significant co-pays and coinsurance with no limits of financial exposure.
Medicare breaks it’s offering down into to four parts categorized by letter designations.
Medicare Part A is your hospital insurance and helps cover medical expenses while you are staying in a hospital setting. Your exposure with Medicare part A includes deductibles, coinsurance, and co-pay expenses that can become pretty significant if you do not have supplementary coverage to Medicare. You will automatically be entitled to, and enrolled in, part A at age 65 if you worked 40 quarters in the United States. You can also qualify for coverage through a spouse that worked 40 quarters.
Medicare Part B is coverage for outpatient medical services. You are exposed to a deductible, coinsurance, co-pays, and excess charges if you don’t have a supplement for Medicare. This coverage is elective but most Medicare recipients take it. You will pay a monthly premium for Medicare part B that will be based on your income level. If you make more per year you’ll pay more for part B. The current minimum premium is just over $100 a month.
Medicare Part C is a privatized plan that is also known as Medicare Advantage. You can choose to take this plan offered by private health insurers instead of regular Medicare. Although there are some benefits to this plan in that is required to cover you as good or better than Medicare, you will typically find that there are far fewer doctors and hospitals that accept this type of policy and that there isn’t a reliable way to supplement the financial exposures in this coverage. You will still have to make your Medicare part B premiums to own this type of policy and may pay anywhere from $0 additional to over $100/month for this type of plan. If you have this type of plan you will not be able to buy a Medigap (Medicare Supplemental Insurance) plan as Medicare supplements are not intended to cover gaps in Medicare Advantage.
Medicare Part D was introduced in 2006 as a component of the Medicare Modernization Act of 2003. It provides coverage for prescription drug costs and is elective coverage (although if you don’t take it when you initially can and decide to take it later you can face some fairly stiff penalties). This is not the type of plan you should by from an agent as an agent is typically not going to be able to represent the best plan for everyone’s situation. These plans have minimal standardization when it comes to important things like premiums, co-pays, coinsurance, deductibles and which drugs they’ll cover (known as formularies). Some may also be more restrictive than others in requiring step-therapy or limiting the amount you can order each month. The best way to find out which drug plan to use os to either call (800) Medicare or by visiting their Medicare Prescription Drug Plan Finder tool at: Medicare Part D Plan Finder.
One of the great things about shopping for Medicare Supplemental Insurance is that these plans are mandated to have standardized coverage between companies. Some companies can also offer additional benefits outside of the standard benefits included in these plans, but keep in mind that such services are not a part of the policy, may be discontinued at any time and, as appropriate, may be subject to geographic availability.
Medicare supplemental insurance plans have letter designations indicating the benefits included with each. The most popular plan we enroll seniors in is Medicare supplement plan F because it covers all the gaps in Medicare. Over half of our clients who own a Medicare supplement plan own plan F.
However, there is a standard rating used to determine the financial stability of the insurance company and that is “A.M. Best” ratings. A.M. Best is an independent third party organization that monitors the financials of these insurance companies and provides a letter grade for each company. A grade of “B” or better is considered financially stable and safe. We only work with companies that are considered financially stable.
There are many standardized Medicare supplement health insurance plans available to you as demonstrated by the chart below:
Here Are Answers to Some Common Questions You May Have...
Medigap coverage (remember Medigap and Medicare Supplemental Insurance are interchangeable terms) is entirely elective. You can choose to purchase it if you see the value in covering the gaps in regular Medicare and reducing or completely eliminating your exposure to medical expenses. If you’re on a very limited budget you can decide to gamble and just use regular Medicare coverage - which is pretty decent coverage on its own. You just have to realize the amounts of coinsurance exposure.
Rather than not going with a Medicare supplement altogether you might consider a plan like a plan G or N that will protect you from most major medical expenses.
If you have VA benefits or TRICARE we want to thank you for serving our country. You have very good medical benefits that the average civilian would be envious of. If you have good VA facilities nearby then you can just not take a Medicare supplement plan and feel comfortable that you’re protected from major medical expenses and have good and easy access to medical services available to you. However, there are many former service people who live a pretty good distance from VA doctors and /or hospitals. In this case, you might get a Medigap plan G or N to be able to see doctors that are closer to you or be able to go to non-VA hospitals. If you live a long distance from a VA hospital and have a medical emergency you will be covered at a local hospital;however, they will want to transport you to a VA hospital as soon as you’re stable and that can be uncomfortable if not unsettling. There are also mixed reviews about the quality of care at VA hospitals. Some veterans love them and some hate them. If you’re in the latter group you might want to purchase a Medicare supplement plan to be able to go to civilian doctors and hospitals.
If you currently have a Medicare Advantage plan then you should not buy a Medicare supplement as a Medicare supplement plan is intended to cover the gaps in traditional Medicare. Medicare Advantage plans replace traditional Medicare and all your benefits are received through a private insurance company. So, if you own a Medicare supplement (Medigap) plan and are on a Medicare advantage plan you’re paying for coverage that you can’t use. It is actually illegal for an insurance agent to sell you a Medicare supplement if you are currently on a Medicare Advantage plan (and insurance companies go through great effort to prevent this from happening) - unless you are in the process of switching from a Medicare Advantage plan to traditional Medicare in a special enrollment period or annual enrollment period (October 15th-December 7th of each year).
This one varies by state. Generally, if you are receiving additional medical coverage from the state then you should not, and in some cases cannot, purchase a Medicare supplement.If Medicaid is only helping you with covering the cost of the part B premium then you can make a determination of the value of a Medicare supplement to you and how well you can fit it into a limited budget. If you cannot afford a Medicare supplement plan then you might consider just keeping traditional Medicare or looking into Medicare Advantage plans.You might also consider purchasing a lower cost Medigap plan like Medigap Plan N. Just a teaching note: Remember that Medigap and Medicare supplement are interchangeable terms.
Although Medicare Supplements are standardized in a lot of ways you’ll find that different companies will charge very different rates for the exact same coverage. So, if you look at a Medicare supplement plan F from one company at $150/month you might find the same plan from another company at $100/month. The plans will work the exact same way but you can save $50/month or $600/year.
Here are some factors that come into play that can affect pricing one way or another:
Pricing Strategy:
Attained-Age Pricing: This is currently the most popular way companies set their Medicare supplement rates. With this type of pricing you will get not only the normal medical inflation adjustment each year based on the company’s claims from the previous year but also a small increase for your new age.
Issue-Age Pricing: Some states are making it mandatory that this be the only type of pricing available for Medicare supplements (Medigap). This ensures that your rate will be partially dependent on the age at which you take the policy and will not have annual rate increases based on your new age each year (as long as you don’t change the policy). This does not mean that you will not get a rate increase each year. While evaluating new coverage, you should keep in mind that every policy will have Medical Inflation rate adjustments each year based on the insurance companies’ claims experience from the previous year. If there are larger than expected number of claims then there is a larger than anticipated increase in rates the next year.
Community Rating: You really don’t see this type of pricing much anymore. It’s the easiest as everyone in a particular area gets the same rate regardless of age, tobacco usage, gender or age. This type of pricing tends to be high if you’re younger and low if your older because they blend the rates. Insurance companies have found this type of pricing to be less profitable.
Tobacco Usage:Some companies don’t charge an increase for tobacco usage which can affect price.
Number of Years Offered in State:
Typically the longer a plan has been offered in an area the more expensive it tends to become as it takes rate increases throughout the years. The newer a company’s plan offerings are to an area the lower the rate tends to be.
All of these things and others can significantly impact the rates charged by different companies for identical coverage.
In order to help you get the best deal available to you for Medigap (Medicare supplement) Rates you should work with a insurance producer that offers plans and pricing from the top A.M. Best rated providers in the country. Our agents are available to help you through this process and you can find numerous research materials on this site and can also get rates from several companies such as United of Omaha and Blue Cross Blue Shield and Gerber Life and many others right on this site. Only a few of the many companies we represent allow us to show their rates via our website. So, if you would like a more comprehensive quote please call us at (866)894-3258.
Whether you’re searching for a Medicare Supplement for the first time or have been on a Medicare Supplemental Insurance (Medigap) policy and are just looking for a better rate our staff can ensure you fully understand your Medicare supplemental insurance options and get the best rate available to you from dozens of Medicare supplement companies.
Why Work with GoMedigap?
GoMedigap is widely known in the industry as a leader in the Medicare Supplement Insurance space. We take our jobs seriously and have a goal of both educating our clients on how Medicare and Medicare supplements work and ensuring you get a plan that best suits your needs. We’re prolific on all topics related to the space and have provided pointed and detailed information below to help you understand what Medicare and Medicare supplement insurance provide and how to best shop for a Medicare supplement.
You’ll find that we:
- Are one of the most professional Medicare supplement insurance agencies in the country.
- Work with dozens of insurers to ensure you get a Medicare supplement plan and rate that best suits your needs.
- Have a proprietary quoting system that allows us to pull rates from many companies at once.
- Have top-notch field underwriters to ensure you get the best deal you can qualify for.
- Always work to find the best Medicare Supplemental Insurance plans and rates for our clients.
- Conduct annual reviews to ensure you are always aware of the best rates available to you.
Medicare Supplement Quotes Online
You can begin your search by reading more about how Medicare and Medicare Supplements work below and by getting Medicare Supplement Quotes right here on the website or by calling our toll-free number (866) 894-3258 and speaking with one of our experienced Medicare supplement agents.
There is no additional costs to you for our services and you’ll find that the rates we provide for a particular insurance plan from a particular insurance company are the same rates you’ll get for that same insurance plan and insurance company offered from any other agency or working directly with the insurance company that offers that same insurance plan. Allowing us to help can be beneficial since we work with all the top insurance carriers to find low rates on a plan that suits you well.
What Is Medicare Supplemental Insurance?
Medicare Supplemental Insurance is insurance coverage that was designed to cover gaps in Medicare, including deductibles, coinsurances, co-pays, and something called excess charges. This coverage is also often referred to as Medigap Insurance because it covers gaps in Medicare.
In order to best understand how Medicare supplements work it’s best to first understand the basics of Medicare coverage.
What Does Medicare Cover?
Medicare offers several benefits related to medical and prescription drug coverage and on its own can provide pretty decent coverage although it can leave you exposed to potentially significant co-pays and coinsurance with no limits of financial exposure.
Medicare breaks it’s offering down into to four parts categorized by letter designations.
Medicare Part A is your hospital insurance and helps cover medical expenses while you are staying in a hospital setting. Your exposure with Medicare part A includes deductibles, coinsurance, and co-pay expenses that can become pretty significant if you do not have supplementary coverage to Medicare. You will automatically be entitled to, and enrolled in, part A at age 65 if you worked 40 quarters in the United States. You can also qualify for coverage through a spouse that worked 40 quarters.
Medicare Part B is coverage for outpatient medical services. You are exposed to a deductible, coinsurance, co-pays, and excess charges if you don’t have a supplement for Medicare. This coverage is elective but most Medicare recipients take it. You will pay a monthly premium for Medicare part B that will be based on your income level. If you make more per year you’ll pay more for part B. The current minimum premium is just over $100 a month.
Medicare Part C is a privatized plan that is also known as Medicare Advantage. You can choose to take this plan offered by private health insurers instead of regular Medicare. Although there are some benefits to this plan in that is required to cover you as good or better than Medicare, you will typically find that there are far fewer doctors and hospitals that accept this type of policy and that there isn’t a reliable way to supplement the financial exposures in this coverage. You will still have to make your Medicare part B premiums to own this type of policy and may pay anywhere from $0 additional to over $100/month for this type of plan. If you have this type of plan you will not be able to buy a Medigap (Medicare Supplemental Insurance) plan as Medicare supplements are not intended to cover gaps in Medicare Advantage.
Medicare Part D was introduced in 2006 as a component of the Medicare Modernization Act of 2003. It provides coverage for prescription drug costs and is elective coverage (although if you don’t take it when you initially can and decide to take it later you can face some fairly stiff penalties). This is not the type of plan you should by from an agent as an agent is typically not going to be able to represent the best plan for everyone’s situation. These plans have minimal standardization when it comes to important things like premiums, co-pays, coinsurance, deductibles and which drugs they’ll cover (known as formularies). Some may also be more restrictive than others in requiring step-therapy or limiting the amount you can order each month. The best way to find out which drug plan to use os to either call (800) Medicare or by visiting their Medicare Prescription Drug Plan Finder tool at: Medicare Part D Plan Finder.
How to Choose a Medicare Supplemental Insurance Plan.
One of the great things about shopping for Medicare Supplemental Insurance is that these plans are mandated to have standardized coverage between companies. Some companies can also offer additional benefits outside of the standard benefits included in these plans, but keep in mind that such services are not a part of the policy, may be discontinued at any time and, as appropriate, may be subject to geographic availability.
Medicare supplemental insurance plans have letter designations indicating the benefits included with each. The most popular plan we enroll seniors in is Medicare supplement plan F because it covers all the gaps in Medicare. Over half of our clients who own a Medicare supplement plan own plan F.
Considering Medicare Supplement Insurance Cost
So, understanding what you’ve read to this point, you should feel comfortable that if you want a plan F that you can just get rates from different insurance companies and go with the plan F from the company that offers the best combination of Medicare supplement rates and financial stability. It’s really that simple. As stated above, you don’t have to worry about whether one company has better benefits or another company has a better doctor’s networks or is better at paying claims. Standardized Medicare Supplement Plan F will work the same without regards to which company you purchase the plan from.Considering Medicare Supplement Insurance Ratings
Unfortunately, there are no ratings systems for customer satisfaction levels with different companies Medicare supplements; however, based on our clients high satisfaction levels with each of the many company’s we work with we feel the satisfaction levels would be extremely high with each. Just by the nature of their standardization and automatic claims payment the user experience is very satisfying.However, there is a standard rating used to determine the financial stability of the insurance company and that is “A.M. Best” ratings. A.M. Best is an independent third party organization that monitors the financials of these insurance companies and provides a letter grade for each company. A grade of “B” or better is considered financially stable and safe. We only work with companies that are considered financially stable.
There are many standardized Medicare supplement health insurance plans available to you as demonstrated by the chart below:
Do I Need a Medicare Supplement Policy?
Medigap coverage (remember Medigap and Medicare Supplemental Insurance are interchangeable terms) is entirely elective. You can choose to purchase it if you see the value in covering the gaps in regular Medicare and reducing or completely eliminating your exposure to medical expenses. If you’re on a very limited budget you can decide to gamble and just use regular Medicare coverage - which is pretty decent coverage on its own. You just have to realize the amounts of coinsurance exposure.
Rather than not going with a Medicare supplement altogether you might consider a plan like a plan G or N that will protect you from most major medical expenses.
I Have VA Benefits or TRICARE
If you have VA benefits or TRICARE we want to thank you for serving our country. You have very good medical benefits that the average civilian would be envious of. If you have good VA facilities nearby then you can just not take a Medicare supplement plan and feel comfortable that you’re protected from major medical expenses and have good and easy access to medical services available to you. However, there are many former service people who live a pretty good distance from VA doctors and /or hospitals. In this case, you might get a Medigap plan G or N to be able to see doctors that are closer to you or be able to go to non-VA hospitals. If you live a long distance from a VA hospital and have a medical emergency you will be covered at a local hospital;however, they will want to transport you to a VA hospital as soon as you’re stable and that can be uncomfortable if not unsettling. There are also mixed reviews about the quality of care at VA hospitals. Some veterans love them and some hate them. If you’re in the latter group you might want to purchase a Medicare supplement plan to be able to go to civilian doctors and hospitals.
I Have a Medicare Advantage Plan
If you currently have a Medicare Advantage plan then you should not buy a Medicare supplement as a Medicare supplement plan is intended to cover the gaps in traditional Medicare. Medicare Advantage plans replace traditional Medicare and all your benefits are received through a private insurance company. So, if you own a Medicare supplement (Medigap) plan and are on a Medicare advantage plan you’re paying for coverage that you can’t use. It is actually illegal for an insurance agent to sell you a Medicare supplement if you are currently on a Medicare Advantage plan (and insurance companies go through great effort to prevent this from happening) - unless you are in the process of switching from a Medicare Advantage plan to traditional Medicare in a special enrollment period or annual enrollment period (October 15th-December 7th of each year).
I Have Medicaid and Medicare (also known as dual-eligible)
This one varies by state. Generally, if you are receiving additional medical coverage from the state then you should not, and in some cases cannot, purchase a Medicare supplement.If Medicaid is only helping you with covering the cost of the part B premium then you can make a determination of the value of a Medicare supplement to you and how well you can fit it into a limited budget. If you cannot afford a Medicare supplement plan then you might consider just keeping traditional Medicare or looking into Medicare Advantage plans.You might also consider purchasing a lower cost Medigap plan like Medigap Plan N. Just a teaching note: Remember that Medigap and Medicare supplement are interchangeable terms.
Why Are There Big Differences in the Premiums That Medicare Supplement & Medigap Companies Charge for the Exact Same Coverage?
Although Medicare Supplements are standardized in a lot of ways you’ll find that different companies will charge very different rates for the exact same coverage. So, if you look at a Medicare supplement plan F from one company at $150/month you might find the same plan from another company at $100/month. The plans will work the exact same way but you can save $50/month or $600/year.
Here are some factors that come into play that can affect pricing one way or another:
Pricing Strategy:
Attained-Age Pricing: This is currently the most popular way companies set their Medicare supplement rates. With this type of pricing you will get not only the normal medical inflation adjustment each year based on the company’s claims from the previous year but also a small increase for your new age.
Issue-Age Pricing: Some states are making it mandatory that this be the only type of pricing available for Medicare supplements (Medigap). This ensures that your rate will be partially dependent on the age at which you take the policy and will not have annual rate increases based on your new age each year (as long as you don’t change the policy). This does not mean that you will not get a rate increase each year. While evaluating new coverage, you should keep in mind that every policy will have Medical Inflation rate adjustments each year based on the insurance companies’ claims experience from the previous year. If there are larger than expected number of claims then there is a larger than anticipated increase in rates the next year.
Community Rating: You really don’t see this type of pricing much anymore. It’s the easiest as everyone in a particular area gets the same rate regardless of age, tobacco usage, gender or age. This type of pricing tends to be high if you’re younger and low if your older because they blend the rates. Insurance companies have found this type of pricing to be less profitable.
Tobacco Usage:Some companies don’t charge an increase for tobacco usage which can affect price.
Number of Years Offered in State:
Typically the longer a plan has been offered in an area the more expensive it tends to become as it takes rate increases throughout the years. The newer a company’s plan offerings are to an area the lower the rate tends to be.
All of these things and others can significantly impact the rates charged by different companies for identical coverage.
In order to help you get the best deal available to you for Medigap (Medicare supplement) Rates you should work with a insurance producer that offers plans and pricing from the top A.M. Best rated providers in the country. Our agents are available to help you through this process and you can find numerous research materials on this site and can also get rates from several companies such as United of Omaha and Blue Cross Blue Shield and Gerber Life and many others right on this site. Only a few of the many companies we represent allow us to show their rates via our website. So, if you would like a more comprehensive quote please call us at (866)894-3258.
Whether you’re searching for a Medicare Supplement for the first time or have been on a Medicare Supplemental Insurance (Medigap) policy and are just looking for a better rate our staff can ensure you fully understand your Medicare supplemental insurance options and get the best rate available to you from dozens of Medicare supplement companies.
Medicare Supplement Insurance - by Henry Smith, February 22nd, 2012
Every senior needing Medicare Supplement Insurance should go with GoMedigap. Their staff is extremely knowledgeable and will help save you tons of money on your Medicare Supplement Insurance Plan.
Every senior needing Medicare Supplement Insurance should go with GoMedigap. Their staff is extremely knowledgeable and will help save you tons of money on your Medicare Supplement Insurance Plan.
5/ 5stars
Medicare Advantage Plans vs. Medicare Supplement Insurance
Thursday, May 16th, 2013
There are a lot of options when it comes to Medicare coverage, but there is often one big decision to make when deciding what kind of coverage you want: do you want original Medicare and Medicare supplement insurance, or Medicare … Continue reading
Switching from Medicare Advantage to a Medicare Supplement Plans
Wednesday, May 15th, 2013
Medicare Advantage plans are plans that offer the same benefits as original Medicare Part A and B, but they are offered through private insurers. This means that you cannot enroll in a Medicare supplement plan while you’re covered by a … Continue reading
Medigap Plan F Pricing
Tuesday, May 14th, 2013
Ever wonder why Medigap Plan F prices vary depending on the insurance company you buy from? Listen up, because we’re about to explain why this happens. Medigap Plan F is a standardized Medicare supplement plan. This means that Plan F … Continue reading