3 Tips To Save Money On Medicare Supplement Insurance

If you have any questions, feel free to schedule a phone appointment on my calendar here. meetme.so/CarlOstenson

Let’s look at 3 Tips To Save Money On Your Medicare Supplement Insurance

TIP 1: F is F and G is G.

The plans are all standardized by the government so an F plan from one company is identical in coverage to an F plan from another company.

Let’s take ketchup as an example. I can go buy a bottle of Heinz ketchup from Jewel, Target, Whole Foods, Wal-Mart or any other grocery store.

It’s the exact same ketchup no matter where I buy it, but each store charges a different price.

It’s the exact same with Medicare Supplements. If your Doctor accepts Medicare he will also accept your Medicare Supplement, and it does not matter what company you are with.

There are 41 companies that all sell Medicare Supplements in Illinois. This brings us to Tip 2

TIP 2: Shop Around (Easy way to save money on Medicare Supplement Insurance)

So now we know the important thing is the Letter, not the company you are with, and each Plan F or each Plan G covers the exact same as any other Plan F or Plan G, you can go shop around.

Just like you might shop around for Heinz ketchup.

There can be substantial savings by using one company over another for the exact same coverage. (This is where an agent can help)

Savings of over $40-$50 a month are not uncommon, for identical plans. Shop around.

TIP 3: Switch To Plan G

If you have had plan F for a while, or maybe you are just going to get your very first Medicare Supplement, take a look at Plan G.

In my opinion it gives you the best bang for you buck.

It covers everything the F covers, except for one thing…the Part B deductible.

The Part B deductible is $147 for the year, in 2014.

It’s just $147 for the year, not every time you go to the Doctor.

Almost every single time I do the comparison, you wind up saving more money with G, even after paying the $147, and after that it’s teh same coverage as F.

For example. Maybe you save $400 a year by going with G instead of F.

You have to pay $147 for the Part B deductible.

So you still come out ahead by $253 dollars, because aside from the $147 Plan F and Plan G are identical.

If you have any questions, feel free to schedule a phone appointment on my calendar here. meetme.so/CarlOstenson

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