How to Find the Right Medicare Supplemental Coverage
Instructions
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Determine your health care needs and decide which of the major Medigap benefits are most important to you. The MedicareRights.org site offers a breakdown of Medigap plan benefits. Use this to narrow down your Medigap search to two or three plan types that have the most benefits, such as coverage of the Part A deductible, overseas emergency coverage or coverage of the skilled nursing facility coinsurance. Keep in mind that the later Medigap lettered plans are typically higher in price so don't forget to factor in your budget.
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Log onto Medicare.gov, the official Medicare website, which has a Medigap plan tool that will show you all of the Medigap plans in your area with an approximate price range. Click on the blue "Health & Drug Plans" icon on the left-hand side and then the option "Compare Health Plans & Medigap Policies." The Medigap plan finder tool is the second tool on the left-hand side. Click on "Find & Compare Medigap Policies" to begin.
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Begin your search by entering the required demographic information then click on "Continue." You will be supplied with a list of all of the Medigap policies and their approximate price in your area. Click on the "View Details" list underneath the Medigap plans you are interested in. The next page will give you a detailed look at the benefits available under that particular Medigap plan. Read this thoroughly then click on "View all Companies" under the "Where to Buy Policy" square on the right-hand menu. This will supply you with a list of insurance companies that sell this Medigap plan in your area.
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Contact the companies you are interested in. Ask specific questions about eligibility and price. Medigap prices can vary widely from plan to plan, so it's a good idea to call several companies to make sure you are getting the best deal. Medicare Interactive recommends asking about premiums and what these premiums are based on, such as your health status, gender, whether you are a smoker or married. Another important factor is determining whether or not the premium is community-rated (everyone has the same premium), issue age-rated (premium based on your age when you purchase the plan) or attained age-rated (your premium will increase with age). Finally, ask if the plan has any pre-existing condition restrictions. Many plans will not cover pre-existing conditions for the first six months of coverage.
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Enroll in a plan. At this point, you should have a clear idea of which plan is best for you. If you're torn between two or three plans, call 1-800-MEDICARE and ask about customer satisfaction. Enroll in the plan with the highest customer satisfaction rating.
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