Category

Medigap Plans

How do insurance companies set prices for Medigap policies?

By | Medigap Plans | No Comments

For your protection Medigap plans are standardized by Federal & state laws.  So then why such price differences?   This is where PlanMedigap becomes a valuable partner in guiding you and your loved ones to the most coverage for the investment. 

Each insurance company determines how it will set the price, or premium, for its Medigap policies. It’s important to ask how an insurance company prices its policies. The way they set the price affects how much you pay now and in the future.

There are other factors involved such as geographical rating, medical underwriting, and discounts that can also affect the amount of your premiums.  Your Plan Medigap Specialist can explain further details of the pricing regulations. Compare Medigap Plans with us for total peace of mind.

What are Guaranteed Issue Rights?

By | Medigap Plans | No Comments

(also called “Medigap Protections”)

At PlanMedigap we want to educate you on your rights when purchasing insurance coverage.  These are rights you have in certain situations when insurance companies are required by law to sell or offer you a Medigap policy. In these situations, an insurance company cannot deny you a Medigap policy, or place conditions on a Medigap policy, such as exclusions for pre-existing conditions.  These rights also protect you from being charged more for a Medigap policy because of a past or present health problem.  Talk to your Medigap Specialist for more information on how we can protect your health coverage.

When is the best time to buy a Medigap policy?

By | Medigap Plans | No Comments

The best time to purchase a Medigap policy is during your Medigap open enrollment period. This period lasts for 6 month, beginning on the first day of the month in which you’re both 65 (or older) and enrolled in Medicare Part B. Some states have additional open enrollment periods including those for people under 65. During this period, an insurance company can’t use medical underwriting. This means the insurance company can’t do any of the following because of your health problems:

*They cannot refuse to sell you any Medigap policy

*Make you wait for coverage to start (except as explained below)

*Charge additional fees for a Medigap policy

Can I really save money?

By | Medigap Plans | No Comments

Although Medicare Supplement Insurance is standardized by the federal government for your protection, individual insurance companies can charge different fees for the same amount of coverage.  For example, Company 1 can charge $192.50/month for Medicare Supplement Plan L.  Company 2 can charge $100 for the exact same coverage of Plan L.  This is a $1110 saving per year!

At Plan Medigap we work to inform you on all of your options, reducing your monthly premiums and saving you the maximum amount of money possibly.  Because that’s what we do.

Get your Medical Supplement Rate today!  See why seniors across America are trusting PlanMedigap to inform & provide the coverage they need… At GREAT savings you can get excited about!