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Where to Search for Medicare Supplement Quotes?

March 09, 2012 | Comments: 0 | Views: 130

Medigap policies are sold by private insurance companies and are intended to fill the gaps left out by original Medicare policies. These policies help share the costs of Medicare-covered services such as co-insurance, deductibles or co-payments.

Some of the uncovered area by original Medicare is also taken care by Medigap policies. People who are enrolled in both the original Medicare and Medigap policy, Medicare pays for an approved amount of the health care cost after that the Medigap policy pays its share.

Medicare advantage plans like a PPO or HMO are ways to get benefits from Medicare whereas Medigap policies only supplement the benefits of Medicare policy. Although, sold and marketed by private companies, Medigap policies must adhere to laws designed by Federal and state government.

Things to Know When You get Medicare Supplement Quotes:

  • Before a person search for Medicare Supplement quotes, he or she should make sure that they are already enrolled in Medicare Part A and Part B.
  • People, who are planning to switch from Medicare advantage plan to original Medicare, must apply for Medigap before the end of the coverage.
  • Plans E, H, I and J are not sold anymore, but people can keep them if they are already enrolled in it.
  • Only one person can be covered in a single Medigap policy, so in case of married couple both the husband and wife need to purchase independent policy.
  • An insured person is required to pay separate premiums for Medicare Part B and Medigap policy. Medicare supplement premium goes to the private company you are enrolled with.

Best time to look for Medicare Supplement Quotes:

The best time to search for quotes is right before the open enrollment period for Medigap. Every year private insurance companies revise their Medicare Supplement quote, so it is best to search when you are about to buy it, because that's when you will get the latest quotes.

Insurance companies are not allowed to use medical underwriting during this period which means they can't do any of the following:

  • Refuse to enroll a person in Medigap policy on grounds of health problems.
  • Charge a person more than someone who has no health problems.
  • Makes a person wait before the coverage can start.

Why search Medicare Supplement quotes when you are first eligible?

People who apply to enroll in Medicare policy after the open enrollment period will have to undergo medical examination from doctors designated by the insurance company. The person may also be charged more than normal rates applicable during open enrollment period.

And the worst, the applicant can also be denied the coverage by the insurance company if it is not satisfied with the health results of the applicant. So start searching for quotes just as you are about to become eligible and the open enrollment period is on.

Medicare Supplement Company provides you free and instant Medicare Supplement Quotes from more than 50 Medicare companies. Compare various plans and apply online.

Source: EzineArticles
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