Monday, February 22, 2016

Things to Consider While Shopping for a Medigap Plan

If you are shopping for a Medicare Supplement (Medigap) plan, your RightFitPlan Agent will be able to share the key differences between the insurance companies offering these plans.
Some of the things to compare between Insurance Companies are:

How long the company has been in the Medigap business?

How long the company has been offering plans in your state of residence?

What is the current financial rating (AM Best) for the company?

What does the 3-year history of the company’s Medical loss ratio look like and how does it compare to the national average?

How many enrollees does the company’s Medigap plan(s) have?

What is the history of rate increases for the past 3 years look like?

How is the company’s history of customer complaints?

Do they offer additional non-Medicare covered benefits like a Gym Membership, out of country travel benefits or the ability to change inside the company’s plans from one plan to another without going through Underwriting?

Note: You must still continue to pay for your Medicare Part B premium

As you can see there is more to think about when it comes to Medigap Plans than initial cost or whether you want a Plan F or a Plan G.

For more information click on the image below:

For personalized assistance in choosing which insurance company and plan, please call:

Sonia Ashford
(817) 689-3536

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