Medicare Supplement Plans Four Rules For Turning 65

Just before people turn 65 they start getting mountains of mail from every health insurance agent

, broker, and company that offers Medicare Supplement Insurance. It seems as if everyone has something to sell and a reason their product is better than the competition. All this madness can make some people want to delay any decision until they get ALL the facts and information, but the truth is you just need to follow a few rules and you will be on your way to receiving great health care for an affordable price.

Rule #1 is purchasing a Medicare Supplement Plan or a Medicare Advantage plan while in your guaranteed issue period. This is important because you only get one chance to enroll in a plan without answering health questions. Your open enrollment period begins on the first day of the month in which you are both 65 AND enrolled in Medicare Part B. If you wait to purchase a Medicare Supplement Plan until after your guaranteed issue period you will have to go through underwriting, which means you will have to be in good health in order to be approved for coverage.

Rule #2 is to purchase a Medicare Supplement Plan instead of a Medicare Advantage Plan. While Medicare Advantage Plans can be cheaper on a monthly basis, these plans are not well liked by physicians and can have high co-pays, especially at the hospital. Medicare Supplement Insurance on the other hand is well liked by doctors and accepted by almost every doctor and hospital that accepts original Medicare. Most doctors and hospitals recommend their patients purchase Medicare Supplement Plan F.

Rule #3 is to purchase a prescription drug plan in addition to your Medicare Supplement Plan. While Medicare Supplement Plans provide excellent coverage, they do not cover vision, dental, or prescriptions. Prescription drug plans can be purchased on a stand alone basis and DO NOT need to be purchased form the same company from which you purchase your Medicare Supplement Plan.

Rule #4 is to shop all insurance companies to purchase the Medicare Supplement Plan you desire for the best price. Medicare Supplement Plans are standardized by the Center for Medicare Services, which means all insurance companies must offer the same exact benefits. Shopping all insurance companies can not only save you money, but also give you some perspective on which companies offer good customer service.

If you follow all four of these rules you should be to receive quality health care services for an affordable price. The easiest way to shop for Medicare Supplement Plans is to contact a national insurance broker who can offer an honest opinion and give you access to quotes from every company. In addition, your insurance broker should be able to point you in the right direction for Prescription Drug Plans, which are a very important piece of the puzzle.

by: Tyra Phillips

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