Medicare and Medigap plans have always been popular, but with the recent developments with Medicare Part D prescription drug coverage many seniors are going with Medicare Supplement plans. Many of these plans provide extra coverage if you are already covered by a major insurance plan. These plans can save seniors hundreds of thousands of dollars on their overall out of pocket expenses every year. I thought I would put together a few tips for seniors looking to switch to Medicare Supplement plans in Ohio.
If You Do Not (Do)medicare Supplement Plans Ohio Now, You Will Hate Yourself Later
One of the best things you can do is to ask your Medicare representative what type of plan they would recommend for you. While rates for Medicare Supplement Plans Ohio are incredibly important, you also need to look at the specific company and how much out of pocket expense the plan would require. What may be the lowest monthly premium for a plan today, may end up quite expensive down the line. Medicare Supplement Plans usually comes into a territory with a fairly low “introductory price” meaning that they are purchasing new business.
If you are already covered by a major plan, but you are concerned about the cost of Medicare Supplement Plans, there is nothing wrong with asking your agent for a more competitive premium. You want to make sure that you are not paying more for the same coverage, so be aware of any other charges, such as coinsurance or co-payments, that may be attached to the plan. In most cases, you will not need to change agents, unless you know that the coverage from one carrier is better than the other. In Ohio there are about 12 different supplement plans including those from private insurance companies. Each one of them have different coverage and costs, so you should shop around to get the best coverage for you at the least possible premiums.