by Russell Noga | Updated November 2nd, 2023
Are you looking into Medicare supplement plans? Medigap policies offer you coverage for the remaining 20% of out-of-pocket costs not covered by Original Medicare Parts A & B.
With Medigap, you get peace of mind knowing you have coverage for hospitalization and medical treatments in your senior years.
You can purchase a Medigap policy from approved healthcare insurers, with ten plans available.
But how do you know if you’re buying the right plan? What happens if you sign up for the wrong plan? Since Medigap policies are available for private healthcare providers, they charge different rates. Are you paying more than you should for your policy? Can you get it cheaper from another provider?
A Medicare supplement insurance agent can help you navigate the plans and providers, finding you the right policy at the best price.
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What are the Benefits of Using a Medicare Supplement Insurance Agent?
Why would you use a Medigap agent to choose your plan if you can do it yourself? Don’t these companies charge you for their advice? No, not at all. Medigap agents don’t charge you a cent for using their services. You get free advice on Medigap plans and how they work.
A Medigap agent is essential for navigating the complicated world of Medicare supplement insurance. If you have trouble understanding how the deductibles work, your copayment and coinsurance responsibilities, and the scope of benefits, the Medigap agent is there to answer your questions.
Sure, you could get that information from the insurer, but they don’t have a dedicated focus on unpacking all the information for you. You’ll likely be tossed around between departments and waste a lot of time on the phone, becoming frustrated with your results. With a Medigap agent, you get everything you need to know from one source.
A Medicare Supplement Insurance Agent Helps You Choose Your Plan
A Medicare supplement agent can explain the difference between each Medigap plan. They’ll listen to your unique healthcare requirements and recommend the right plan for your situation. A Medigap agent is not interested in selling you the most expensive plan.
They want to keep you as a client, and they realize they can only do that by offering you an outstanding service experience. The last thing you want is to take a plan with more or less coverage than you need. The Medigap consultant ensures you get the insurance you need to reduce your out-of-pocket costs associated with Medicare Parts A & B.
A Medicare Supplement Insurance Agent Unpacks Your Benefits
Each of the ten Medigap plans has different benefits. Some offer near-comprehensive or comprehensive coverage. Others have cost-sharing models or provide limited benefits. Understanding the coverage provided in each plan is vital to prevent you from being under or over-insured.
All Medigap plans offer the following benefits.
- Part A coinsurance and hospital costs for up to 365 days after using up Medicare benefits.
- Part A hospice care coinsurance or copayment.
- Part B coinsurance or copayment.
- Blood transfusion costs for the first three pints of blood.
Plans F*, G, and N offer additional Medicare Parts A & B benefits.
- Part A deductible.
- Part B excess charges (Plan N doesn’t cover these charges).
- Skilled nursing facility care coinsurance.
- 80% of emergency healthcare costs when traveling outside the US for 60 days. ($250 deductible and $50,000 maximum apply).
- Unlimited coverage for all out-of-pocket costs.
Medigap agents Help you understand each of the benefits, deductibles, coinsurance responsibilities, and copayments required with each plan. Many seniors find it confusing to navigate the specifics of each plan, and a Medigap agent gives you the information you need to make an informed decision on the right plan for you.
*Plan F is available to beneficiaries of Original Medicare enrolling before January 1, 2020. If you qualify for Plan F, call a Medigap agent, and they’ll advise you on the best way to secure a Plan F policy. Or the agent will recommend a suitable alternative to Plan F that meets your healthcare requirements.
A Medicare Supplement Insurance Agent Deals with the Insurer
The Medigap agent deals with the insurer on your behalf. You only deal with them and direct all your Medigap enquires through the agent. The agent works with the insurer, reducing the hassle and frustration of talking to the carrier.
A Medicare Supplement Insurance Agent Gets You the Lowest Premiums
Medicare supplement plans are available through private healthcare insurers. While there are standardized benefits in all the plans, the premiums between insurers can vary widely. If you don’t know better, you could overpay for your policy.
The Medigap agent quotes you the best rates from leading healthcare insurers offering Medigap plans in your state. In some cases, you could save hundreds of dollars on your monthly premiums by using a Medigap agent to get your quotes.
For instance, UnitedHealthcare might be the cheapest option for Plan G in your state, but they could be the most expensive provider for Plan N. Don’t assume Medigap providers charge the same premiums, use a Medigap agent to get you the best rates on the plan you want.
A Medicare Supplement Insurance Agent Enrolls You in Your Plan
The Medigap agent advises when to join your insurer’s plan to avoid medical underwriting. Underwriting is a process where you must answer questions about your health status for the last several years. The insurer uses this information to set your premiums or deny you coverage.
The Medigap agent can advise you of your guaranteed issue rights for Medigap plans and how to join the plan at the best times of the year. If you qualify for guaranteed issue rights or enroll during a special enrollment period, you avoid underwriting and gain acceptance to any insurer’s Medigap scheme.
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Frequently Asked Questions
What is a Medicare Supplement Insurance Agent?
Get a Free Consultation from a Licensed Medicare Supplement Insurance Agent
If you have questions about Medigap policies, call our team of fully-licensed agents at 1-888-891-0229. We’ll advise you on the right plan for your healthcare requirements and get you the lowest rates on any plan from providers in your state.
Our consultations, advice, and quotes are free. If you can’t speak to us right now, complete the contact form on this site. We’ll get a Medicare supplement agent to call you back.
Russell Noga is the CEO of Medisupps.com, an online Medicare Agency and resource center helping Medicare beneficiaries learn about Medicare, Medigap and Part D drug plans, and Medicare Advantage plans since 2009. Russell is licensed in all 50 states and has been featured as a keynote speaker, and author of several publications, along with hosting the very popular Medisupps.com Youtube channel.