You’re delving into Medicare and considering Plan N, but what about Medicare Part B Excess Charges? They’re sneaky little fees that can pile up if your provider doesn’t accept Medicare‘s set rates.

Don’t let confusion reign – we’re here to help you understand these charges and find out if they even matter for you.

It’s time to become an informed health care consumer, ready to navigate Medicare and Plan N with confidence. Let’s get started.

Key Takeaways

• Medicare Part B excess charges can be avoided by choosing a Medigap plan that covers them, such as Plan G.
• “Medicare assignment” refers to the assigned prices for every medical charge under Medicare. Every procedure has a code, and every code has a price assigned by Medicare that the doctor can charge. Less than 4% of physicians have opted out of Medicare assignment. This makes excess charges uncommon.
• Eight states have made it illegal for providers to charge Part B excess charges, providing protection for residents in those states.
• Patients can avoid excess charges by asking healthcare providers if they accept Medicare reimbursement for payment in full and finding providers who won’t charge Part B excess charges.

Understanding Medicare Part B Excess Charges

How well do you understand Medicare Part B excess charges and the impact they could have on your medical bills? If you’re not quite sure, let’s dive into understanding Medicare Part B excess charges.

When a doctor doesn’t accept Medicare’s approved amount for a service, they can charge up to 15% more. This is the excess charge, and it’s important to know, it’s you who’s responsible for it.

Now, you might think, what about choosing Plan N? Good question. While Plan N is a great option, it doesn’t cover these excess charges. So, if you often see doctors who don’t accept Medicare’s approved amount, you might face these additional costs. However, don’t be too alarmed. More than 96% of doctors do accept the approved amount, and certain states even prohibit these charges.

The Prevalence of Medicare Excess Charges

You’ll often find that Medicare excess charges aren’t as prevalent as you might think, but it’s essential to stay informed and plan accordingly. As part of your planning, you might be considering choosing Plan N, which may leave you wondering about the prevalence of Medicare excess charges.

1. First, it’s essential to understand that Medicare excess charges only apply if you visit a doctor who doesn’t accept Medicare. These doctors can charge up to 15% over the Medicare-approved amount.
2. Most doctors, however, do accept Medicare assignment. In fact, only about 4% of doctors nationwide opt out of Medicare assignment.
3. It’s also worth noting that several states have laws prohibiting excess charges. If you live in one of these states, you’re protected from this potential cost.
4. Lastly, remember that even if you do encounter excess charges, they’re often relatively small.

In August 2016, Aetna reported that 99.34% of the claims they process have no excess charges. Of the 0.66% of claims that do have Medicare excess charges, the average amount of the charge is less than $20.

Tips to Evade Medicare Part B Excess Charges

To evade Medicare Part B excess charges, it’s crucial that you’re proactive in seeking healthcare providers who accept Medicare assignment. It’s important to ask your healthcare providers if they accept Medicare before receiving services to avoid any surprise bills.

If your provider doesn’t accept Medicare assignment, you might be subject to an excess charge, which could be up to 15% more than the Medicare-approved amount. Because of the difference in how Medicare pays non-participating doctors, it actually comes out to 9.25%. This is from our article on whether you should be concerned at all about excess charges:

Non-participating (non-PAR) physicians are limited to how much they can charge you for services. This amount is set at 15% above the Medicare-approved amount for any given service. Because the Medicare-approved amounts for non-PAR physicians are 95% of the rates for PAR physicians, the 15 percent limiting charge is effectively only 9.25% above the PAR-approved amounts for any given service.

Remember, you have the power to control your healthcare expenses. By choosing providers who accept Medicare assignment, you can protect your budget while receiving the care you need. In doing so, you’ll not only serve yourself but also contribute to a sustainable healthcare system.

Medigap Options for Covering Part B Excess Charges

While exploring Medicare supplement insurance options for covering Part B excess charges, you’ll find that Plan G, by providing coverage for these charges, can help you avoid unexpected medical costs and offer you greater peace of mind. Plan G is comprehensive coverage and will spare you from any out-of-pocket expenses related to Part B excess charges.

However, you might be considering Plan N. It’s a cost-effective alternative, but it doesn’t cover Part B excess charges. So, what can you do to protect yourself?

1. Understand the risks: Only a small percentage of doctors charge Part B excess charges, but it’s crucial to be aware of the potential for unexpected costs.
2. Do your research: Before receiving treatment, ask if your doctor accepts Medicare assignment to avoid excess charges.
3. Consider your lifestyle: If you travel frequently or live in a state where excess charges are allowed, Plan G might be more suitable.
4. Review your budget: Can you afford potential excess charges? If not, the peace of mind offered by Plan G might be worth the additional premium.

Are Medicare Part B Excess Charges Covered by Medigap Plan N?

Medicare Part B excess charges are not covered by Medigap Plan N. If you want comprehensive coverage that includes these charges, it’s crucial to compare the different Medigap plans to find the best Medicare Supplement plan that suits your needs.

Extra Guidance and Available Resources

Don’t worry, there’s plenty of extra guidance and available resources to help you navigate through Medicare excess charges. You’re not alone in this journey.

If you’re worried about possible excess charges, one resource you should definitely utilize is your provider. Ask them directly if they accept Medicare assignment. They’re required to provide this information.

Additionally, there are numerous online resources available to further guide you in understanding Medicare excess charges and choosing Plan N. Websites such as Medicare.gov provide comprehensive information, and you can always seek advice by contacting us through the form or the phone number on the right side of the page. We are experts in their field and can provide personalized guidance based on your specific needs and circumstances. We have been helping people with Medicare plan choices since 1996.

Identifying States Do Not That Permit Medicare Excess Charges

In your research for states that allow Medicare excess charges, you’ll find that only eight states, including Connecticut, Massachusetts, Minnesota, New York, Ohio, Pennsylvania, Rhode Island, and Vermont, do not allow for providers to charge Part B excess charges as of the writing of this article. This means that in these states, providers must accept the Medicare-approved amount as full payment.

However, you’ll discover that in the remaining states, providers may impose Medicare excess charges, which are amounts above the Medicare-approved payment. These can be up to 15% higher than the approved amount. It’s essential to understand the laws in your state when choosing a healthcare provider or planning for healthcare expenses. It helps you make informed decisions about where to receive medical care and how to budget for potential excess charges.

Frequently Asked Questions

How Does a Medicare Part B Excess Charge Differ From a Regular Medical Bill?

A Medicare Part B excess charge differs from a regular medical bill in that it’s an additional fee that some doctors who don’t accept Medicare’s approved amount might charge. It can be up to 15% more than the approved amount.

Your regular medical bill is what Medicare agrees to pay for a service, but you’re still responsible for a portion of it.

Excess charges can add up, so it’s essential to be aware of them.

Are There Any Penalties for Doctors Who Charge Medicare Part B Excess Charges in States Where It’s Prohibited?

Yes, there are penalties for doctors who unlawfully impose Medicare Part B Excess Charges in states where it’s prohibited. If caught, these providers can face fines, penalties, or even exclusion from the Medicare program.

Therefore, it’s crucial for you to verify whether your state allows these charges, and if your provider accepts assignment, to prevent unwanted costs.

What Happens if I Can’t Afford to Pay the Medicare Part B Excess Charges?

If you can’t afford Medicare Part B excess charges, it’s important to communicate with your provider about payment options. They may offer a payment plan or, in some cases, waive the fees.

Also, consider getting a Medigap plan that covers these charges. Medigap Plan G is a great choice. It’s your health and finances, so you’ve got options.

Can a Provider Decide to Stop Accepting Medicare Assignment After They Have Already Started Treatment?

Yes, a provider can decide to stop accepting Medicare assignment even after starting treatment. However, they’re required to inform you first.

If this happens, you’re responsible for paying the Medicare Part B excess charges. To avoid surprises, always check with your provider about their Medicare assignment status before starting any treatment.

How Can I Find Out if a Potential Healthcare Provider Has a History of Charging Medicare Part B Excess Charges?

To find out if a potential healthcare provider charges Medicare Part B excess charges, you’ll need to ask directly. Call their office, explain you’re a Medicare recipient, and specifically inquire as to whether they accept “Medicare assignment.”

It’s your health and your budget, so don’t hesitate to ask questions.

Conclusion

In conclusion, understanding Medicare Part B excess charges is essential, especially when considering Plan N. Although only a small fraction of doctors impose these charges, being aware could save you from unexpected costs.

Utilize the tips provided to evade these charges and consider Medigap options that cover them. Remember, some states outlaw these charges.

By educating yourself, you’re in a better position to make informed decisions about your healthcare coverage. Stay empowered, stay informed.

Stanley Keith Murray is an independent agent and the founder of Integrity Senior Solutions Inc. He has been working with Seniors to meet their insurance and financial needs since 1996.

When is Medigap Open Enrollment?

Each year, Medicare Advantage enrollees can review and modify their coverage. Medicare Advantage and Medicare Part D have an enrollment period every year. The Annual Election Period we referenced above (Oct 15-Dec 7 each year) gives enrollees of those plans a chance to change companies and coverage each year. Medigap only has one guaranteed Open Enrollment period during your lifetime.

Outside of that period, you will need to qualify medically to be accepted into a Medicare Supplement plan. In some states, Medigap enrollees can now switch plans each year around their birthday without underwriting.

Medigap special enrollment may be available for certain enrollees.

If you have guaranteed issue rights, you could be eligible for a special Medigap enrollment period. During this time, insurance companies are prohibited from charging you more based on your medical conditions, imposing waiting periods, or denying coverage.

The Centers for Medicare and Medicaid has established a list of seven situations that grant you a guaranteed issue right to sign up for or switch Medigap plans without undergoing medical underwriting. While this list is somewhat restricted, there may be additional options available to you depending on your state of residence.

Starting in 2023, twelve states offer guaranteed issue rights that surpass those mandated by the federal government. This includes opportunities for annual enrollment or plan changes. In fact, more than half of all states exceed the federal requirements by providing guaranteed-issue Medigap plans to beneficiaries under the age of 65.

Annual Guaranteed Issue and Open Enrollment By State

But there are some states that have annual guaranteed-issue opportunities to enroll in Medigap or at least switch to a different plan:

• In New York and Connecticut, Medigap plans do not require medical underwriting, regardless of the enrollment timing.
• Every year in Massachusetts, there is a guaranteed-issue Medigap open enrollment period from February 1 to March 31. During this time, individuals have the opportunity to secure coverage without being subject to medical underwriting.
• In Maine, Medigap insurers are required to allocate a specific month annually wherein Plan A is guaranteed to be issued, irrespective of the applicant’s medical history.
• In Missouri, people can easily switch their Medigap insurance between companies during a certain time period.. You can only enroll in the same lettered plan, like Plan G to Plan G. You can switch during the 30 days before or after your plan’s purchase anniversary for guaranteed coverage..
• Seven states, including California, Idaho, Illinois, Kentucky, Louisiana, Nevada, and Louisiana, have implemented a Medigap birthday rule for Medicare Supplement enrollees. These rules provide a time-limited window around their birthday each year, This allows them to easily switch to another Medigap plan with the same or reduced benefits without the need for medical underwriting. Illinois and Louisiana, limits a change to a plan offered by the existing Medigap insurance company. Starting in 2024, Kentucky will also adopt similar rules. However, plan changes will be limited to the enrollee’s same lettered plan, offered by a different insurer.
• Washington and Oklahoma Medigap enrollees have the flexibility to switch to another plan at any time, provided they have maintained coverage for at least 90 days. In Washington, individuals with Medigap Plan A are limited to switching only to another Plan A. However, those with Medigap Plans B through N have the freedom to switch to any Plan B through N. In Oklahoma, enrollees have the option to switch to any plan that offers equal or lesser benefits.

What Is The Medigap “Birthday Rule?”

The Medicare Supplement birthday rule provides an annual safeguard for Medicare beneficiaries in select states. During a specific timeframe around your birthday, you have the opportunity to purchase a Medigap policy without the need for underwriting or a waiting period.

The time frames in which the birthday rule applies may vary from state to state. There may also be limitations on the insurance companies you can choose, which can impact your coverage. Additionally, your state may have age requirements that affect when the Medicare Supplement birthday rule applies to your benefits.

Among the twelve states mentioned, the Medicare Supplement “birthday rule” is implemented in seven.. This period varies by state. To be eligible for a plan change under the “birthday rule ” you must already be enrolled in a Medigap plan.

Which States Offer a Medigap Birthday Rule?

• California: Starting on the first day of your birth month, you have 60 days to change your Medigap plan with no underwriting requirements. You must switch to a Medigap plan that offers the same level or lower benefits. However, you may also change insurance carriers.
• Idaho: Medigap policyholders will be eligible to enroll in any plan of equal or lesser benefit. Additionally, you may switch to any insurance company. This rule lasts 63 days, beginning on the policyholder’s birthday..
• Illinois: The birthday rule exclusively pertains to beneficiaries aged 65 to 75. This open enrollment period commences on your date of birth and extends for 45 days. Within this timeframe, you have the opportunity to enroll in a plan offered by your existing carrier. However, the benefit level of your new plan must be the same, or be lower than, that of your current plan.
• Kentucky (effective starting in 2024): Individuals enrolled in Medigap can conveniently switch to another insurer’s Medigap policy within 60 days of their birthday, maintaining the same benefits as their existing plan.
• Louisiana: You have a window of 63 days following your birthday to switch to a Medigap plan with equal or lesser benefits. This option applies solely to plans offered by your present insurance carrier. Notably, legislation being deliberated in 2023 may broaden the scope to encompass affiliates of your current insurer.
• Nevada: You have a 60-day window, starting from the first day of your birth month, to switch to another Medigap plan that offers the same or lower level of benefits. During this timeframe, you also have the flexibility to change insurance companies.
• Oregon: You are eligible to switch to another Medigap plan, with the same or lower level of benefits, during the 30-day period starting from the first day of your birth month. Additionally, you have the option to change insurance carriers.

Living in one of these states? You might benefit from these birthday regulations if you know how to use them..

Stanley Keith Murray is an independent agent and the founder of Integrity Senior Solutions Inc. He has been working with Seniors to meet their Medicare insurance and financial needs since 1996.

Looking to cut down on your Medicare Supplement insurance premiums? If so you’re, in the place. In this article, we’ll explore how you can save money without compromising on the coverage you need.

We will cover everything from the cost of Medigap plans to choosing the policy, eligibility and enrollment details, and practical ways to reduce your premiums. Armed with this knowledge you’ll be able to make an informed decision and learn how to save money on your Medicare Supplement insurance premiums.

Introduction

Medicare Supplement insurance (commonly known as Medigap) is a way to minimize your out-of-pocket expenses for healthcare. By complementing Original Medicare coverage, Medigap policies help cover co-payments, deductibles, and coinsurance. These policies are regulated by the government and sold by insurance companies.

The price of a Medigap policy varies depending on factors such as the chosen insurance company, location, and your specific plan. To help you save money on premiums while still enjoying coverage, we’ve compiled effective strategies.

To maximize savings potential, enrolling during your Medigap Open Enrollment Period is highly recommended.
Once you reach the age of 65 and have enrolled in Medicare Part B there is a six-month period known as the enrollment period. You also get this one-time open enrollment period if you continue working and delay Part B enrollment until you are no longer working. Your 6-month period begins on your Part B effective date. During this open enrollment period, insurance companies are required to accept you without any underwriting regardless of your health or age. In some states, there are protections and guaranteed issue rights, for Medigap enrollment.

To save money it’s advisable to compare the Medigap policies in your area. The price ranges for each type of plan can vary depending on factors like your age, location, and overall health. You can use resources and tools to compare policies and pricing options. It is also recommended to consult with an insurance agent or broker who can provide guidance based on your specific needs. They can help you review the benefits and limitations of each plan before making a decision. Best of all their services are included in the plan’s premium, so it costs you nothing. They can shop the entire market for you in one shot for free.

Understand Your Medicare Supplement Plan

Understanding your Medicare Supplement plan is crucial in order to optimize its benefits while saving money. Different Medigap plans offer varying levels of coverage so it’s important to evaluate which coverage aligns best with your needs. Familiarize yourself with the benefits, limitations, and associated costs of each plan before making a decision. When comparing policies consider aspects such as coverage quality, cost implications, and customer service satisfaction. Lastly don’t forget to be aware of the pricing methods in your area.

Medigap policies can be priced using methods like community-rated, issue age-rated, or attained age-rated approaches. These methods mostly vary by state, not by the insurance companies themselves. Additionally, it’s worth checking for any discounts offered by insurance companies, such as those related to households’ online applications or prepayments. Many plans offer a discount just by having a roommate for more than a year. There are deeper discounts with other companies if both people in a household have a policy with the same company. Your independent agent can and should help you find any available discounts.

Compare Plans and Providers

When searching for a Medicare Supplement insurance policy it is crucial to compare plans and insurance companies. Prices can vary significantly among plans and providers. Thus it is important to explore options to find the most suitable deal. An independent insurance agent can assist you in comparing plans and providers to identify the policy that meets your needs.

The Importance of Shopping the Entire Market

Have you thoroughly explored all options in the market when comparing plans and providers for your Medicare Supplement Insurance policy? It is essential to consider all possibilities in order to secure coverage at a price. Exploring the market can help you discover a suitable plan that aligns with both your needs and budget.

When comparing Medigap policies it’s important to take into account factors like coverage, cost, and customer service. You also need to be aware of the company’s financial strength and ratings. Utilize resources and tools to compare the policies in your area and their pricing. Additionally, it’s beneficial to seek guidance from an insurance agent or broker.

Remember to review the benefits and limitations of each Medigap plan before making a decision. By exploring all options in the market you can ensure that you select the policy for your needs.

Medigap Plans Are Identical From Company to Company

It’s worth noting that Medigap plans remain consistent across companies by law. However, it is still crucial to compare both plans and providers in order to find the policy for your situation.

To reduce premium costs;
1. Compare Medigap policies offered in your area and select one that aligns with your requirements.
2. Take into consideration factors such as coverage, cost, and customer service.
3. Seek guidance from an agent or broker who can offer tailored assistance.

By conducting research and understanding the benefits as well as limitations of each Medigap plan you can make an informed decision that suits both your needs and budget.

Plan Premiums Vary From Company to Company

Please note that prices for these plans may vary depending on the company offering them. When you’re comparing Medigap policies it’s crucial to keep in mind that the prices of plans can vary between companies. So it’s important to assess and compare the plans and providers to find the policy that suits you best.

The cost of Medigap premiums can be influenced by factors such as age, location, health condition, insurance company, and plan type. Moreover, certain companies offer discounts on premiums such as household discounts, online application discounts, or automatic/prepayment discounts.

Make sure to review all the benefits and limitations of each plan before making a decision.

Consider Plans with Co-pays or Higher Deductibles

Consider exploring Medigap plans that include co-pays or have deductibles. These options can help you save on premiums without compromising on coverage.

If you’re seeking a balance between coverage and cost, Plan N could be a choice for you. On the hand if cost-effectiveness is your concern a high-deductible Plan G might be the best option.

It’s crucial to compare plans and determine which one suits you best.

Why Plan N is the Best Medicare Supplement Plan Value

Plan N stands out as a value among all Medicare Supplement plans when considering options. Here are some reasons why Plan N is worth considering;

1. Premiums; Monthly premiums are significantly lower compared to other Medigap plans,
2. Plan N necessitates copays, for office and emergency room visits.
3. Plan N encompasses services that Original Medicare provides.
4. The plan offers payment options such as check or automatic withdrawals providing flexibility to the subscribers.

Plan N combines premiums, copays, and comprehensive coverage to present a choice for individuals seeking a cost-effective way to complement their Original Medicare. Rest assured that with Plan N you will have coverage for the services you require at a price that suits your budget.

Consider High Deductible Plan G

If you are searching for an approach to save money on your Medicare Supplement insurance premiums, it may be worth considering High Deductible Plan G (HDG). This plan offers reduced premiums and copays for services. It requires meeting a $2,700 deductible (in 2023) before the Medigap policy contributes towards expenses.

Here are some details from our full article detailing High Deductible Plan G:

1. You need to pay an annual deductible before the plan pays for any of your medical care.. In 2023, that deductible is $2,700. Any payment towards your Part B deductible also applies to this High Deductible Plan G deductible.
2. Once you meet the annual Part B deductible, Medicare Part B covers 80% of your expenses. On High Deductible Plan G, you’ll need to cover the remaining 20% until you reach the total annual deductible.
3. Once you meet the annual deductibles, High Deductible Plan G covers the rest of the Part B co-payments for Medicare-approved care for the rest of the calendar year.

You can read the full article here – High Deductible Plan G (click)

The monthly premiums for this plan are significantly lower than regular Plan G. And that is why you don’t hear much about it from agents. We are paid a percentage of your premium as our commission. You pay the same rate whether you use an agent or go directly to the insurance company, so our services are in essence free to you. But since the premiums are so low on HDG, most agents don’t want to present it as an option. They are doing people a disservice and looking out for themselves if they don’t offer this option.

If you’re seeking a cost-effective option that still offers the coverage High Deductible Plan G might be the ideal choice for you.

The Significance of Utilizing an Independent Agent

Using an agent is valuable when comparing plans and providers because they can assist in finding the suitable policy at the best price. An independent agent can;

1. Offer personalized advice on which plan and provider will meet your needs.
2. Present you with a range of Medigap policy options from carriers.
3. Compare plans and providers to identify the balance between price and coverage.
4. Explain any differences, between plans thoroughly.
5. Help you grasp all the details.

An independent agent can be an ally when it comes to finding how to save money on your Medicare Supplement insurance premiums. They offer guidance and information that can help you make the decision based on your needs. With their assistance, you’ll be able to save money and secure the coverage for a stable retirement. These services are FREE.

Review Your Coverage Annually

It’s important to review your Medigap coverage every year to ensure it still suits your needs and that you’re taking advantage of any discounts or savings opportunities.

Shopping for Medigap policies can feel overwhelming. It’s crucial to compare premiums and coverage levels in order to find a suitable plan.

You might also qualify for discounts or savings programs such as household discounts, online application discounts, or automatic/prepayment discounts. Furthermore, if you and your spouse or roommate hold policies with the company there’s a chance you could receive a multi policy discount. Your agent can and should help stay on top of these important issues.

Taking the time to review your Medigap coverage on an annual basis will ensure that you’re getting the value for your money and that your coverage aligns with your specific needs.

In summary

By making an informed decision when selecting a Medicare Supplement insurance policy, you can save money on premiums. Keep these five points in mind to maximize your Medigap coverage;

1. Compare the Medigap policies in your area to find the one that suits your needs best.
2. Consider paying for more services out of pocket to keep premiums lower. Plan N and High Deductible Plan G are great choices.
3. Utilize your trusted independent agent to compare Medigap policies and their pricing.
4. Take advantage of discounts like household discounts, online application discounts, and automatic or prepayment discounts.
5. Make use of Medigap Open Enrollment Periods to avoid undergoing underwriting and potentially facing premiums.

Conclusion

You now possess the knowledge and tools to save money on your Medicare Supplement insurance premiums. When it comes to finding the coverage for your needs it’s important to compare plans and providers. Consider looking into plans that have co-pays or higher deductibles.

To make sure you’re getting the value, for your money take the time to understand your plan and review it on a basis. By doing you can have peace of mind knowing that you’ll have costs, with Medigap. Start your research now.

Most importantly, find a trustworthy agent who can show you how to save money on your Medicare Supplement insurance premiums. As mentioned earlier, this service costs you nothing. Yet, it can save you many hours of researching on your own. I have been helping people transition onto Medicare since 1996. I know the pitfalls to avoid and what to look for in a strong, dependable company. You don’t want to enroll in a plan and have to abandon it and start your search over again every couple of years. We can help you find coverage that benefits you and your situation.

Stanley Keith Murray is an independent agent and the founder of Integrity Senior Solutions Inc. He has been working with Seniors to meet their Medicare insurance and financial needs since 1996.

Back in 1990, Congress passed a law the Omnibus Budget Reconciliation Act. The new law required all Medicare supplement lettered plans to conform to predetermined benefits according to the letter of the plan. This means that Medigap plans are identical from company to company. Any company that offers a Plan G or Plan N, or any lettered plan, must by law offer the exact benefits assigned to that letter by the government. This made it easier to comparison shop for the best Medicare supplement plan.

Even with many companies offering identical coverage, most consumers look to the big-name brands that they are familiar with – UnitedHealthcare, Aetna, Cigna, Mutual of Omaha. But there are more important factors to consider when looking for the best Medicare supplement plan for your situation. Those factors include:

• Price
• Rate stability and history of increases
• Financial ratings
• Customer service and claims departments

See our article on Why Your Medigap Company’s Financial Ratings Matter

Recommended Well-Known Medigap Companies

Here is a listing of a few of the well-known companies we work with and recommend. Click on the link on each name for an in-depth review:

• Mutual of Omaha
• Cigna
• Humana
• Aetna – Due to recent events, we are withholding our endorsement of Aetna at this time

These companies spend a lot of money on advertising. You have likely seen them all over the place for years. You may have even had coverage under some of their group plans with an employer in the past.

Recommended Lesser-Known Medigap Companies

There are many other companies that should not be overlooked when considering the best Medicare supplement plan and company. These companies are financially strong and, as mentioned before, the coverage is identical to the plans from the bigger name companies.

Here are a few of the lesser-known companies we work with. We consider these to be some of the best Medicare supplement companies available, but you just may not have heard of them before. 

• Manhattan Life
• GPM Health and Life
• New Era Life / Philadelphia Life

Finding the Best Companies for Medigap

We get asked often if we represent all of the available companies in a particular area. While we do offer most companies, we have found that some companies do not meet our high standards on their rate increase history or customer service. We only want the best for our customers. We are contracted with over 30 of the best Medicare supplement companies in the United States.

Our Recommendation

The top three companies that we recommend in our office are below. We recommend them because we have had a positive experience with their stability and customer service over many years. We can help you enroll in these companies over the phone, but for your convenience, two of these companies at the links below provide the option to get a price for your area and to enroll online. 

Mutual of Omaha

Cigna

Manhattan Life

If you enroll online, Integrity Senior Solutions and Stanley Keith Murray will be your independent agent to help with any issues. There is no difference in premium if you go directly to an insurance company or enroll through our agency links. However, you get all the benefits of having an independent agent work for you.

When you enroll through our agency – which costs you nothing – we will be here when you need help down the road. Whether you need a replacement ID card or help with a claim or any other issue, you don’t have to call the insurance company and wait on hold. We do that for you. It is one of the many benefits of having an independent insurance agent who works for you, not the insurance company.

See our article and video on How an Independent Agency Brings Great Value For No Additional Cost

There are many very strong, very well-known companies that have a long history, including reasonable rate increases from year to year. If you have a history of or have been diagnosed with a chronic health condition, you will want to find a company that fits that criteria for long-term rate stability. Even if they are a few dollars more in the beginning, in the long run, it could save you substantially.

Call Stanley Keith Murray today at 888-228-6119 or use the form to send us a quick message!

Which Medigap Company You Should Choose

There are many companies that offer Medigap coverage. When considering which Medigap company to enroll with for your Medicare Supplement coverage, there are some things you need to take into consideration. We have provided this Medigap plan review page to help you know what to look for in the company behind your Medicare supplement coverage.

Medigap Coverage is Identical From Company to Company

Every Medigap Plan (Plans A through N) is standardized by federal legislation which governs how the plans cover you. This means that one company cannot change how they cover the gaps in Medicare. Choosing one company over another will not change how your gaps in Medicare are covered. As we have covered extensively in other articles on our website and videos, a lettered plan such as Plan G or Plan N has identical coverage from one company to another. Regardless of the company you choose, the coverage is the same for that letter.

Some companies may try to entice you with costly added benefits – like SilverSneakers or discounts on additional services. These additional “benefits” cost you more in the long run. As we mentioned in our article where we talk about buying your gym membership out of pocket, it is cheaper for you to buy a lower cost Medigap plan with identical coverage and pay for the membership out of pocket. Besides, just in the last 18 months, most companies have stopped offering Silver Sneakers. In most states, there is only one high-priced Medigap plan offering that extra, and there is no guarantee that they will continue, either.

Most gyms give a discount to Seniors. You can almost always find a gym membership for less than $25 a month, sometimes even less. Planet Fitness and others offer memberships for just $10 per month. Yet, the companies that offer an included gym membership are usually $25 to $45 more per month for otherwise identical coverage.

Customer Service Considerations

Claims Handling

First of all, if you enroll with Integrity Senior Solutions, dealing with the insurance company is not something you will have to worry about. We take the stress out of dealing with problems related to your Medigap coverage. If there is ever an issue, you can call us directly.

If Medicare approves a claim, it cannot be denied by your Medicare supplement company. When your provider submits the bill for claim payment to Medicare, Medicare will pay its portion and then forward the claim directly to your insurance company. This process is referred to as “crossover” claims. It is all done electronically and seamlessly.

It is important to also note that there are a lot of complaints and bad Medigap plan reviews on the internet. In almost every single case, those complaints are referring to Medicare Advantage plans. “Advantage” plans are well known for their billing issues and claim denials. Many companies offer both Medigap and Medicare Advantage plans. Some of these companies include Aetna, Cigna, Humana, Blue Cross Blue Shield, and UnitedHealthcare.

Complaints about these companies will be referring to their Medicare Advantage division. The companies do not have their Medigap and Advantage divisions working together. In most cases, those divisions are in totally different cities. The billing and claims processes are completely different, so they keep them separated.

I can tell you with 100% certainty after working in the Medigap arena for over 27 years that the claims handling by Medigap plans is almost flawless from our experience. In contrast, when we first tried the Medicare Advantage plans a few years ago, we had more claims in the first few months after those policies went into effect than we had in several years of working with Medigap only. It is one of the reasons we went back to concentrating on Medigap, despite the fact that Medicare Advantage pays the agent more than twice the commission. Giving our clients the best recommendations is paramount to our success. And it’s one of the reasons we chose the name Integrity Senior Solutions.

Replacement Cards and Billing Changes

The biggest reason you may feel the need to call a company directly is to get a replacement card or change your billing information. You don’t even have to call them in that situation, either. You can call us and we will handle your customer service needs so you don’t have to call the company. People sometimes tell us when we find that they have called directly that they didn’t want to bother us with a petty service issue. But that is what we are here for. We take care of even the small issues for you!

Your Agent is Paid By the Company to Help You

You have the option to go directly to the insurance company to enroll for coverage. Most companies offer direct enrollment. They are happy when you do that. You see, the agent is paid a commission for providing all of these valuable services to you. That commission is already figured into the premium you pay for coverage. So if the company can cut out the agent, they are happy. That is more profit for them.

Then when you need a replacement card or a claim somehow gets messed up, you only have one option – you call the company yourself. If it is a time of high call volume, you get to sit on hold and listen to music you don’t like so that you can talk to someone who doesn’t have a vested interest in looking out for you. When you enroll through us, you pay the exact same premium. But when an issue arises, you call us and we handle it from there. That is the value of using Integrity Senior Solutions as your independent agency.

Choice of Doctors, Specialists, and Hospitals

Unlike Medicare Advantage plans, there are no network restrictions. You can go to any doctor, specialist, hospital, or any other facility without worrying about whether they are in network. And you also need NO REFERRAL to go see a specialist! As long as your doctor accepts Medicare, your Medigap plan will pay the gaps according to the plan coverage you have.

Your doctor does not care who your Medigap provider is. They file the claim with Medicare and then it is out of their hands. They actually prefer the Medigap plans because it is less hassle for their office staff. As I mentioned, dealing with all the issues related to the Medicare Advantage plan claims is a major headache.

The BIG Factor – Financial Stability

The one area that needs the most attention when it comes to the Medigap plan review process is financial strength and rate stability. This is where you really need to be on your toes when it comes to choosing the best Medigap plan.

As we have covered extensively here and in other articles on our website, the plans are identical from company to company. What is not identical is the company offering the coverage. The premium varies from company to company mostly related to how much they are sending out each month in claims versus the premium that is coming in. This is referred to as the loss ratio. Loss ratio is one of the factors we consider and share with you when considering which company will work best for you. If a company is not making a profit with a high loss ratio, that is a telltale sign that a rate increase is imminent.

It is also important to check the rate history of the company you are considering. Sometimes that information is not easily available. Being active in the business for 3 decades, we have seen companies play little tricks like opening a new company under a new name so they can bring lower rates. Then those who have had some health diagnosis and are not able to pass underwriting to move to the new company are stuck in an old plan where the rates are going to start going up exponentially. These are facts you will not get by calling the company directly to enroll. We have seen how some of these companies have badly treated their customers. We know who to avoid.

Lowest Rate is Not Always Best

Another issue is with new companies coming in with low rates. It happens almost every year. We get notified by the big insurance marketers that some new company is coming to certain states and their rates are going to blow everyone out of the water. And they do. They come in with low-ball rates. Then the less experienced agents who don’t know what is about to happen will enroll people into these cheap plans. They sell by price alone, and it is a pretty easy sell.

We are all about saving you as much as possible on your premiums. The problem arises 18-24 months down the road when that new company has written a good bit of business and then raises the rates up really high. We see it every year without fail. Cheaper is not always better. You have to find a balance.

As a general rule, we also like to stick with companies that are A-rated or better with A. M. Best rating company. We do have a few B+ carriers that we represent, but only those with whom we have seen keep rates steady and give good customer support. Sometimes our clients prefer going with the cheapest company regardless of their rating. That’s your choice and we can still help you with those. We prefer the more stable and higher-rated companies when possible. We are always trying to look out for our clients first and foremost.

So What is the Best Medigap Company?

There is no definitive answer. I know. I know. You wanted a straight answer on it. Believe me, I’d love to give you one. There are a lot of factors that go into choosing which company will be best for you. But I will tell you what we recommend at Integrity Senior Solutions.

We do have a handful of companies we prefer to use when it is feasible. Our agency has worked with them long enough to know who has the best support and the best rate history. We want to recommend companies that take care of you, our client.

When we run your comparison, we like to look for one of the companies with a very long track record of taking care of their (and our) customers. We are not beholden to one company or group of companies. That is one of the beautiful things about working with an independent agency. We work for our clients. We are not employees of any insurance company.

You can find out which plans are offered in your area at what price by sending us a message through the contact form on this page or calling us at 1-888-228-6119. One of our licensed agents will provide you with a comparison of all the plans. We give you the information you need to make an informed, educated decision. I know that is what you want to do. Otherwise, you would not be reading this article and researching your options so thoroughly. We can help. Best of all, our services are FREE before and after coverage begins. Let us know how we can best serve you.

1-888-228-6119

Medicare Supplement (Medigap) insurance policies do not provide prescription drug coverage. If you have a Medicare Supplement plan, you can still get drug coverage through a separate prescription drug plan through companies that offer drug plans. Prescription drug plans are also known as Medicare Part D.

New for 2025: $2,000 Annual Cap On Out-of-pocket Prescription Costs

In 2024, once your out-of-pocket spending on prescriptions exceeds $3,300, you qualify for Medicare’s “catastrophic coverage” and won’t have to pay anything for your covered Part D drugs for the remainder of the year. (In 2023, when you reached catastrophic coverage, you still had to pay 5% of your drug costs.)

However, a new rule goes into effect for 2025. Individuals with Part D plans will be limited to $2,000 in out-of-pocket costs, because of the Inflation Reduction Act of 2022.

Insurance Companies Are Making Cuts and Adjustments

How To Get Medicare Part D Prescription Drug Coverage

If you are on a Medicare Supplement plan, you can enroll in a stand-alone Medicare Part D prescription drug plan. Another option is to move to a Medicare Advantage plan. Although over 80% of Medicare Advantage plans have drug coverage included, most Seniors are not willing to give up the freedom and autonomy they have with a Medigap plan to go onto a Medicare Advantage plan with all of its restrictions. You cannot be enrolled in a Medicare supplement and a Medicare Advantage plan at the same time.

There are only certain situations under which you can enroll in a Medicare Part D plan. This includes when turning 65 or going onto Part B of Medicare for the first time. In both cases, you can enroll three months before or three months after the month that your Part B coverage begins. You can also enroll or change plans each year during the Annual Election Period (AEP). That period runs from October 15 through December 7. AEP restrictions apply to Part D or Medicare Advantage plans only. With your Medigap plan, you can make changes to your plan at any time of year.

Enrolling in Standalone Medicare Part D Prescription Drug Plans

There are a lot of prescription drug plans to choose from, and you don’t want to shop on premium alone. If you need a standalone Part D prescription drug plan, you can find a plan on our website. You can enter your current drugs to see what your total out-of-pocket costs will be.

We do not offer every company through our DrugPlanInfo.com website. This is intentional. We have selected the companies that we work with and we recommend available for comparison. If you want to see every possible option for drug coverage, you can visit the Medicare.gov website. You can also call Medicare at 1-800-MEDICARE (800-633-4227).

Compare recommended drug plans in your area – CLICK HERE

Simply going with the lowest-priced plan is not a good idea. There are premiums, deductibles, and co-pays on each drug that should all be considered. By using the link that I provided above, you can enter your current drugs and it will check all plans for those premiums, deductibles, and co-pays to see which will be the cheapest based on your total out-of-pocket costs.

You may find a plan with a low premium that has a very high co-pay for a drug you currently take. But maybe another plan with a higher premium has a lower co-pay each time you get your prescription filled. This is why it is important not to shop Medicare Part D drug plans on premium cost alone.

The advice on this website is informational. 

Stanley Keith Murray is an independent agent and the founder of Integrity Senior Inc. He has 30 years of experience working with Seniors to meet their insurance and financial needs.

Many insurance agents and insurance companies know that price sells. Unfortunately, in the race to the bottom on price, many will sell a policy on price alone. It makes for an easy sale for them. But this can be very costly to you in the long run. The Medigap company rating with companies like A.M. Best plays a vital role in determining long-term rate stability. A low rate today does not guarantee rate stability tomorrow!

Medigap plans are the absolute easiest insurance product to comparison shop. That is because the coverage for any particular plan is identical from company to company. You never have to worry whether you are comparing apples to apples on Medigap plans. The Medigap plan you choose – whether Plan G or Plan N or another plan – offers the same coverage no matter what company name is on your insurance card.

When you are trying to choose from the 25-plus carriers that offer plans in your area, price should not be the lone determining factor. The Medigap company’s rating should be a determining factor. If you are in your Open Enrollment or a Guaranteed Issue period, you have one chance to go with whichever company you want to. There are no medical questions to be answered during this period. You don’t want that fantastic opportunity to be wasted. These are the factors you need to consider when making that choice.

Click here to see the companies we represent and our reviews of those Medigap companies.

Company Financial Ratings Matter

The leading independent rating company for insurance carriers is A.M. Best. It is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus.

The ratings can help you determine a company’s size and stability. At Integrity Senior Solutions, we recommend carriers with a rating of B+ or higher for Medigap coverage. These companies will typically be more established and have more money in reserves than companies with a lower rating.

Longevity Matters

With over 28 years in the Medigap business, we have seen companies come and go. Even some very strong companies, like AFLAC, have entered the Medigap market only to leave it shortly thereafter.

Over the years there have been many small companies that enter new Medigap markets. As of the writing of this article, we have seen three new small companies come in with some really low rates in the last few weeks. Two of those three are companies we had never heard of before.

Consider Both Ratings and Longevity Together

It is important to consider the Medigap company rating with independent companies that rate insurers. It is also important to be aware of the history of the carrier in the Medicare market. Just as we don’t recommend low-rated companies, we also do not recommend companies that are new to the Medicare market.

We have seen many times where even an established company in one state will expand to a new state with unrealistically low rates. Each company has a team of actuaries who determine what the anticipated loss ratio will be for their company. Loss ratio is how much claim money and expenses are being paid out versus how much premium money is coming in. The percentage of expenses to income is the loss ratio. We have software that shows us the current financial ratings and loss ratio of every company in the market. We can share that information with you, saving you hours of research on your own!

The actuarial process of determining what the anticipated loss ratio will be is very advanced and complicated. Some companies nail it. Others miss it by a mile. When they do miss it, it means that the loss ratio is going to be very high. It also means that a large rate increase is very likely coming soon.

Don’t Get Trapped With a Bad Company

Here is a scenario where a high loss ratio and rate increases would be problematic: Mary is turning 65 and in her Open Enrollment period. She has developed a chronic health condition that will always be there. Right now in Open Enrollment, Mary can choose coverage with any Medigap company she desires without having to be underwritten.

Mary chooses to go with the lowest available price on the plan she chooses. She does no research and gets no help from an independent agent. For the first 12 months, Mary’s rate is locked in. But because of the company not pricing themselves appropriately for the market, she gets a rate increase of 20% when her rate lock is over. This increase hits her budget hard because she is on a fixed income.

The problem is – with her chronic health condition – she will likely not qualify to go with a cheaper company to save money. She is outside of her Open Enrollment – which lasts 6 months from Medicare Part B eligibility. Mary is now stuck with this company no matter what their rate increases are in the future. It’s either that or go with the limited coverage of a Medicare Advantage plan – not recommended with her chronic condition and need for many medical services.

Annual Election Period (AEP) Won’t Help!

Because of the tremendous amount of marketing in the fall about the Annual Election Period, many people assume they can switch plans during that time. Some well-known companies even use misleading advertising and refer to AEP as “Open Enrollment.” It is not. AEP only applies to changes in your Part D drug plan or Medicare Advantage plan. Outside of Open Enrollment or Guarantee Issue periods, the only way to change Medigap plans is to go through an underwriting process. Since Mary has a chronic condition, she is very unlikely to qualify to change companies or plans.

Mary does have the option during AEP of dropping her original Medicare and going with Medicare Advantage. As long as she lives in the service area of the plan and does not have End Stage Renal Disease, she can make that switch. But Medicare Advantage is a Medicare replacement plan. What if her doctors who provide her care are not in her network under that Medicare Advantage plan?

We get a lot of calls from people looking to leave their Medicare Advantage plan to go back to original Medicare once a bad report comes from the doctor. I cannot remember ever getting a call from someone with a chronic health problem who wanted to leave their Medigap for a Medicare Advantage plan. For more on how Medigap plans and Medicare Advantage compare, check out our article at this link.

Don’t Pay More For a Name Brand

At the same time that it is important to look for an established, highly-rated company, there is also no need to pay a higher premium to go with a well-known brand. There is no difference in Medigap coverage because of the name of the company! We often get asked about Silver Sneakers and other added benefits some plans offer. The Medigap coverage is the same, but they add this enticement. Here is a snippet from another of our articles that addresses this:

A side note about Silver Sneakers – there are a couple of companies that do offer those memberships for “free” when you take their Medigap coverage. The problem is that those companies are usually $50-60 more per month than other companies for identical coverage. So it is not free. They are just rolling the cost of it into the premium in hopes that you will be enticed and drawn by their well-known brand name company.

It’s not worth it. Save on the premium and buy your own membership. Most gyms offer discount plans for adults age 60 and over. It will cost you way less than the difference in premium. We did our own research. Most gyms we have checked with offer memberships for anywhere from $8 – $22 per month for Seniors, and even less per person for a couple. Don’t pay $60 more for your Medigap plan to get a brand name and membership that is worth less than $22.

All the Medigap plans are standardized by law. A company cannot change any of the core benefits of those plans A-N. So whether you have a Cigna Plan G or a Mutual of Omaha Plan G or Aetna Plan G, the benefits are identical.

Are Smaller Companies Safe to Work With?

As we mentioned, it is important to check the Medigap company financial rating of the company you are considering. We can help with this information. You don’t have to automatically disqualify a company that you’ve never heard of. Any company with a B+ or better rating is capable of handling a large influx of claims all at once. If they also have a good rate history, we have no issues with recommending them. My own mother has been with a B+ rated company for 4 years that you’ve likely never heard of. They have paid their claims like clockwork.

A smaller company may not be as well-known to you. One reason is that many of them depend on the agents to get the word out about their plans. They have chosen not to spend millions and millions on advertising like the big brands do. That savings is passed on to you in the form of lower premiums.

Big and Small Companies ALL Pay the Same Way

You may know someone that has a big brand company and loves to brag on how well it pays. That’s no big deal! ALL companies have to pay well.

When Medicare covers their 80% of your doctor charges, your Medigap company HAS TO pay their 20%. They cannot decline their portion. They cannot dispute their portion.

Medicare passes the claim to your Medigap company seamlessly through a process called crossover filing. It is done electronically. It is one of the main reasons we rarely have to follow up on claims with Medigap plans. Your doctor files, Medicare pays, your Medigap plan pays, period.

Finding the Best Companies for Medigap

That last scenario with Mary sounded pretty awful. But it is not uncommon. By working with an independent agency like ours, we can provide you with the A.M. Best rating of any company. We can also tell you how long they have been in the Medicare business and what their rate history looks like.

We get asked often if we represent all of the available companies in a particular area. While we do offer most companies, we have found that some companies do not meet our high standards on their rate increase history or customer service. We only want the best for our customers.

There are many very strong, very well-known companies that have a long history, including reasonable rate increases from year to year. If you have been diagnosed with a chronic health condition or have a history of it, you will want to find a company that fits that criteria. Even if they are a few dollars more in the beginning, in the long run, it could save you substantially.

As I mentioned, we have special software that allows us to see every company’s rate, financial rating, rate increase history, and history in the market. We can share this with you by utilizing our screen sharing option in real time. We can also provide a PDF comparison for you to look at.

Give us a call and let us go to work for you. Our service is free. No matter what company you choose, you pay the same whether you call the company directly or utilize the many services of an independent agent.

Call us today at 888-228-6119 or use the form to send us a quick message!

This week we had a case with a gentleman who had diabetes and a history of mild neuropathy. On the applications for most Medicare supplement companies, they are not questioning the severity of diabetes with neuropathy or retinopathy.  They simply want to know if you have been diagnosed with it or treated for it within a certain timeframe. The good news is that there are companies that will accept you if you have diabetes with neuropathy, so there could be coverage available for you under Medicare supplement for diabetes with neuropathy.

Diabetes With Neuropathy When New To Medicare

If you are turning 65 or leaving an employer plan and enrolling in Medicare Part B for the first time, most of what we will discuss here to does not apply to you right now. When you first enroll in Part B, you have an Open Enrollment period that entitles you to choose any Medicare supplement plan that you want – no questions asked – for 6 months following your enrollment into Part B. So finding a Medicare supplement for diabetes with neuropathy is not an issue. While in Open Enrollment, you can enroll with any company you choose for any plan available. There is no waiting period. You are covered from day one under the Medigap plan of your choosing if enrolling during Open Enrollment.

If New To a Medicare Advantage Plan

Medicare has a provision for those that enroll in a Medicare Advantage plan and want to leave it during the first 12 months. This is referred to as your Trial Right. Information available on the federal government’s Medicare.gov website says that if you joined a Medicare Advantage Plan or Programs of All-inclusive Care for the Elderly (PACE) when you were first eligible for Medicare Part A at 65, and within the first year of joining and then decide you want to switch to Original Medicare, you can purchase any Medigap plan available in your state from any company you choose.

They are required to sell you a Medicare supplement. They must cover all pre-existing conditions. Also, they cannot charge you more because of your health. You simply can call Medicare to disenroll from your Medicare Advantage plan and move back to original Medicare. They can also help you choose a Part D Prescription drug plan at the same time.

Call us and use our free comparison shopping service to find the best plan in your zip code if you are wanting to take advantage of this provision. Our number is 888-228-6119 and a licensed independent agent will be glad to assist you.

Guaranteed Issue For Losing Group Coverage

If you are losing employer coverage and are already covered by Medicare Part B, you have certain guaranteed-issue rights that allow you move onto a Medigap plan. Here is the information from the Medicare.gov website concerning that:

You have the right to buy Medigap Plan A, B, C, F, K, or L that’s sold by any insurance company in your state.

If you have COBRA coverage, you can either buy a Medigap policy right away or wait until the COBRA coverage ends.

You can/must apply for a Medigap policy no later than 63 calendar days after the latest of these 3 dates:

• Date the coverage ends
• Date on the notice you get telling you that coverage is ending (if you get one)
• Date on a claim denial, if this is the only way you know that your coverage ended

For Everyone Else

If you are outside of an Open Enrollment or Guaranteed Issue period, you will have to go through underwriting to enroll in a new Medicare supplement plan. There are some companies that will take you depending on the severity of your diabetes with neuropathy.

With the gentleman I mentioned at the beginning of the article, he was taking Metformin to control blood sugar and Gabapentin for the pain in his feet from neuropathy. We had two companies in the state of Georgia that would accept that situation according to their application for coverage. The first company wanted to know if within the past five years he had been prescribed or taken more than 100 units of insulin a day. Considering his other health history was good, other than taking a medication to control blood pressure, cholesterol, and a pain medication for an injury, he was eligible for coverage with them. However, every underwriting situation is different. So let us compare your health history against all the companies to see where you may qualify.

This gentleman would also qualify for one other company that has a history of unstable rate increases. We were looking at a Plan G Medicare supplement for him. The issue we had with this other company was that their Plan G was just released last month. And considering that there is a $70 premium difference between their Plan F and Plan G, I am not comfortable putting people with them just yet. That is a very big premium difference considering the only thing Plan F covers that Plan G does not is the Part B deductible, which is $183 in 2017. Also, considering the rate increase history of this company, I am not confident that their premium will stay that low for long. If his health were to decline any at all, this client may be stuck in that plan and forced to pay whatever premium they increase to for those covered under Plan G.

Conclusion

As I mentioned in the article, every underwriting situation is different. Let us check to see where we can get you placed. Our service is free. It costs you the same exact price whether you go directly to the company or use an independent agent, like Integrity Senior Solutions. If you go directly to the company, they will never tell you their competitor’s prices. They will not tell you of their upcoming rate increases. And if they decline you, they will also not tell you what other companies are an option for you based on your health. We can do all of those things and it costs nothing more for us to do it for you. We are licensed all across the country, so we can help you.

The advice on this website is informational. Please consult us before making a purchasing decision to determine what is best for your individual situation. You can contact a licensed agent at 888-228-6119 or by using the form on the right side of the page.

Keith Murray is an independent agent and the founder of Integrity Senior Solutions Inc. He has over 21 years of experience working with Seniors to meet their insurance and financial needs.

Finding the Best Medigap Plans

As I was driving in to the office this morning, I was thinking about how computers and the internet have changed the way we buy and sell insurance. When I first started the insurance business in 1996, we would go sit down with folks face to face. That was how people shopped for the best Medigap plans and coverage. I would have to flip through the rates of every carrier to see who had the best price for where they lived.

But with the advent of technology and computers, that has all changed. The days of you having to get dressed up and make sure the house is spiffy for a stranger to come in are behind us. You can work directly with an independent agent over an internet connection and/or phone wearing your bathrobe while sipping coffee if you want to! You don’t have to leave the house and you don’t have to let a stranger in.

Technology Has Made Things Better

I was thinking about what I miss about those days, though. I do love that we can help so many more people now. And we work all across the United States now. We are not limited by how far we are willing to drive to see someone face to face. But I do miss those times of seeing the look on a widow’s face when she realizes how much she just saved by changing Medigap companies without any change in coverage. I especially miss the times of getting a hug on the way out the door for having helped someone save so much! I love my “job” and that I get to make a living by genuinely helping people.

As an independent agency, Integrity Senior Solutions uses a software system that allows us to compare every available Medigap plan in your ZIP code side by side. Be sure to check the YouTube video at the bottom of this post for more information.

We can give you rate comparison information quickly and easily over the phone. We can also allow you to watch our computer screen as we share it to your computer or tablet screen in real time. You can see our screen, but we can’t see yours.

The Most Important Factor When Comparing Medicare Supplement Prices

Here is the biggest factor in comparing Medigap plans among the companies – each lettered plan offers the same exact coverage from company to company. A company cannot alter the coverage in any way. Here is the official Medicare comparison chart for Medigap plans:

The chart shows what each plan covers. Each company must adhere strictly to that coverage. A company can offer extras like a Silver Sneakers membership or discounts on eyewear. But the coverage for medical care and covering the gaps in Medicare Part A and B cannot vary one bit. Massachusetts, Minnesota, and Wisconsin have different standardized plans. Click here to see how those states differ.

A side note about Silver Sneakers – there are a couple of companies that do offer those memberships for “free” when you take their Medigap coverage. (Edit: There is now one Medicare supplement company that offers this additional benefit since AARP announced that they are dropping the program in most states nationwide) The problem is that those companies are usually $50-60 more per month than other companies for identical coverage. So it is not free. They are just rolling the cost of it into the premium in hopes that you will be enticed and drawn by their well-known brand name company.

It’s not worth it. Save on the premium and buy your own membership. Most gyms offer discount plans for adults age 60 and over. It will cost you way less than the difference in premium. Most gyms we have checked with offer memberships for anywhere from $8 – $22 per month for Seniors, and even less per person for a couple. Planet Fitness and Gold’s Gym both have $10 per month memberships. Don’t pay $60 more for your Medigap plan to get a brand name and membership that is worth less than $22.

Medicare Says You Should Compare Plans

Every year, the Center for Medicare and Medicaid Services puts out a publication about Medicare. It is called Medicare and You. Here is a page from a recent Medicare and You book. Notice in the middle it says in bold lettering, “Different insurance companies may charge different premiums for the same exact policy.”

We Have Done the Research For You

Weiss Ratings senior financial analyst Gavin Magor commented:

“For 20 years Medigap rates have varied due to regional differences in pricing methodologies, state regulations, and the cost of health care. While we expect these differences in pricing among plans and across regions, we find that there is no justification for such wide price differences for exactly the same product in the same area. Consumers who research their options are likely to find opportunities for significant cost savings when purchasing Medigap insurance.“

You can spend hours or days doing that research on your own. Or we can do a quick comparison of all of the companies side by side for you in minutes. Call us at 1-888-228-6119 for a free consultation and comparison. We work with people like you to compare all the plans every day.

Finding the Best Medigap Company

Many people go immediately to the big brand names for buying products. People – myself included – look for quality when shopping around. Cheap is not always better. But that is not as necessary in Medigap insurance. Let me explain why.

As we have covered here and in other articles, the Medigap plans are standardized. A Plan G from UnitedHealthcare is identical to a Plan G from Cigna or Mutual of Omaha, or any other company for that matter. There is no need to pay more to get a popular brand. One of those companies I just named spends millions and millions every year on TV ads, spokespersons, mass mailings, blimps – all kinds of advertising. And their high premium reflects their high advertising costs.

It is important to note that all Medigap plans are going to have potential increases in premiums from year to year. Any agent that tells you otherwise is lying to you. Run away from them. That’s why it is also important to know a company’s rate history. Some companies will close a book of business and start a new company to try to get fresh enrollees in their plans. The problem is that those old plans will still have people stuck in them and those rates will go up, up, up over time. We have seen which companies have pulled this questionable practice and can help you avoid getting caught in their trap the next time they do it.

Some companies will close a book of business and start a new company to try to get fresh enrollees in their plans. The problem is that those old plans will still have people stuck in them and those rates will go up, up, up over time. We have seen which companies have pulled this questionable practice and can help you avoid getting caught in their trap the next time they do it.

Cheaper is Not Always Better

As important as it is to stay away from the overpriced big brands, it is just as important to be wary of small companies or companies with low ratings. With the software that we use, we can see the rate increase history of every company. We also can see how long they have been in the market. And most importantly, we can see what their financial strength is.

Most of the time, we can find companies rated “A” by the rating companies that are in the top 3-4 in premium. In many cases, they will be the lowest on premium.

Having been in the Medigap business for over 29 years, I have seen small companies – especially “B” rated companies – come in with low-ball rates. Once those companies get some business on the books, they usually start raising the rates. Once you are outside of Open Enrollment or Guarantee Issue Periods for Medigap coverage, you will have to qualify medically to change Medigap plans.

Many times we have seen where someone took a cheap rate with a new, low-rated company to try to save a little, only to have that rate go up significantly once that smaller company sees they cannot maintain low rates and be profitable. If that person has developed any health issues, they might not qualify to move to a cheaper plan. So now they are stuck at whatever rate that company decides to go to. Their health could prevent them from taking advantage of a better price on their Medigap plan.

Call us at 1-888-228-6119 for your no-obligation quote and to have all your questions answered. You can also leave a question for us in the form to the right.