5 Good Reasons to Choose a Medicare Supplement Plan
Celebrating Turning 65
Doug just had his 65th birthday. He's looking forward to retirement, which is coming up soon, from his career of more than 40 years. Doug has made great decisions regarding his retirement planning and now is deciding on a senior health plan.
Doug is in an Open Enrollment Period, which is a one time only 6-month time frame when federal law allows him to buy any Medicare Supplement (Medigap) policy sold in his state. During this period, he can't be denied a Medigap policy or charged more due to past or present health problems.
Like the thousands of people who are turning 65 every day in the United States, Doug is being bombarded with calls, letters, and constant ads about health coverage. There's too much noise and he wants to cut through it and get the facts.
So much information about Medicare Supplements can be found online and Doug located a website which includes a quote finder for plans in his area. He also found on the same page a link to the official Medicare site and a tremendous amount of information for newly eligible Medicare beneficiaries. Doug bookmarked this site and decided to contact the agent for more information.
The agent is an independent life and health agent in Doug's state. This means the agent has access to all the top carriers for Medicare Supplement plans. Since plans are standardized, Doug knew what benefits he would have by the plan letter designation. Plan G supplements have become increasingly popular because they have a very small out of pocket cost and lower premiums. What would be different among his many choices was the premium he would pay. That's where the independent agent he was working with offered the most value.
The agent gave Doug five reasons to choose a Medicare Supplement plan:
Reason #1: Keep your Out-Of-Pocket costs low. Monthly premiums and a small deductible is all Doug would have with this type of plan. Other health plans can change their benefits from year to year which can increase out-of-pocket costs.
Reason #2: Choose your Doctors and Hospitals. There is no PPO or HMO network or out of network like other health plans.
Reason #3: Coverage is Guaranteed Renewable. Doug's policy could not be cancelled....unless he stopped paying premiums.
Reason #4: Providers Accept Patients With Medicare Supplement Insurance. If they accept Medicare, they accept Doug.
Reason #5: Doug's Coverage Goes with him. Doug travels and spends time in different parts of the country. With a Medicare Supplement he is always in network.
Making a smart decision about his health coverage was important to Doug and he wanted to make it quickly. Since he was Medicare eligible, he didn't have to wait for an open enrollment period. He could get coverage immediately and it was guaranteed. His agent was able to help Doug apply and enroll in a Medicare Supplement plan easily and quickly.
That was the way to go.