Is the Price Right on Your Medicare Supplement?

You have obtained a Medicare Supplement plan – Congratulations! In case you are new to Medicare and may still be learning the ropes, a Medicare Supplement plan works with Original Medicare and picks up the remaining 20% of covered costs that you are responsible for. Well, whether you are new to Medicare, or have had a Medicare Supplement for some time, it is important you know a few things on how these plans work. Medicare Supplement plans are sold by private insurance companies. There are many different types of Medicare Supplement plans. For instance, they are Plans A, B, C, D, F, G, K, L, M, N. With so many options, it can be difficult to decide which is best for you. If you are unsure about which option is best, your first step will be to utilize a Medicare insurance resource. MWG Direct has licensed insurance advisors here to walk you through enrolling in Medicare, filling in gaps in coverage (like a Medicare Supplement), keeping up with yearly changes to all your policies, and making sure you continue to have the most cost-effective rate.

Medicare Supplement plans are standardized, too. So, no matter which company you obtain a Plan G through, it will have the same benefits – just different rates! This is why it is very important to use a broker like MWG Direct, whose advisors have access to many different carriers and can provide you with different quotes, all while providing you with important information on which plan will be right for you!

While many people believe you can only change your Medicare Supplement during the Annual Enrollment Period each year in October through November. This is actually false. You are able to change your Medicare Supplement plan anytime throughout the year.

Another important thing to note about Medicare Supplement plans is that they have rate increases every year. That is why it is equally important that you have an advisor in your corner to know when your plan will be increasing. We will also take into consideration which plans have higher rate increases than others, to look ahead for our clients.

Here are two examples of our clients who saved money during their Medicare Supplement review:

 

 Client A (male, 74) purchased a Plan G in 2014. He recently switched to a different carrier and was able to keep the same benefits with a Plan G. He saved over $1,200 annually just by switching carriers.

Client B (female, 74) purchased a Plan F in 2016. She recently switched to a different carrier and found greater savings in a Plan G. She saved just over $1,500 annually by switching her carrier and plan!

If you are new to Medicare and are interested in obtaining a policy or currently have a Medicare Supplement policy and would like to see if you are eligible for a lower rate, you can call us at (877) 759-5762, email us at direct@morganwhite.com, or book an appointment here: https://mwgdirect.com/medsupp-review/general.