Medicare Supplemental Plans - How To Buy Smart!

By Author: Tyra Phillips
Total Articles: 78
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Thousands of people enroll in Medicare every year and begin to recognize great benefits. Those who are smart also purchase a Medicare Supplemental Plan to cover the gaps between what original Medicare will pay and the actual amount doctors, hospitals, and specialists charge. Finding the Best Medicare Supplemental Plan can be a challenge, but if you shop smart you will save money and have virtually zero out of pocket expenses.

The most important decision when purchasing Medicare Supplemental Insurance is what plan you should buy. The most popular plan available is Medicare Supplement Plan F. People who purchase this plan do so because it offers the best benefit package, and they rarely have any out of pocket expenses except for their monthly premium. The second best plan available is Medicare Supplement Plan G, which is exactly like Plan F, except the policy holder must pay the Part B deductible, which is $155 in 2010.

Two plans that should also be considered are Medicare Supplemental Plans C and N. Plan C has a very comprehensive offering, but it does not cover Part B excess charges. Part B excess charges ...
... are important in some areas, but do not matter in others. The only problem with Plan C is that often times it is only a dollar or two cheaper than Plan F. Medicare Supplement Plan N was just introduced to the marketplace on June 1st, 2010 and has been a big hit. This plan is approximately 30% cheaper than Plan F, but the consumer must pay the Part B deductible as well as $20 co-payments for doctor visits and $50 co-payments for emergency room visits.

After you determine which Medicare Supplemental Plan is best, you will need to find the company from which you would like to buy. Medicare supplemental Plans are standardized, meaning every company offers the exact same plans and benefits. They cannot change the plans, nor can they offer additional benefits. Prudent shoppers often purchase the company who offers the plan of their choice for the most affordable monthly premium.

The easiest way to get quotes for Medicare Supplemental Plans from all companies is to consult a national insurance broker who specializes in Medicare Supplemental Insurance. They should be able to offer an honest, unbiased opinion, and will be able to help you enroll with ease. Consulting your local insurance agent might be another option, but often times the local agents don't carry every company that offers this type of insurance, which means you will likely pay more for the same benefits.

When shopping for Medicare Supplemental Plans, don't forget to also purchase a Prescription Drug Plan (PDP). Medicare Supplemental Insurance does not cover prescriptions. However, these plans can be purchased on a standalone basis. Keep in mind that you can purchase your prescription drug plan from a different company then the from whom you purchase your Medicare Supplement Plan. Prescription Drug Plans are difficult to shop for, and they change every year which only intensifies the problem. Your Medicare Supplement Broker should also be able to assist you in your search for the best Prescription Drug Plan.

Researching Medicare Supplemental Plans can be easy, especially if you know the plan you want and how to get quotes from every company. Remember, all Medicare Supplemental Plans are the same. The only difference is how much you pay. Shopping all companies can ensure you get the best price and keep the most money in your pocket. Contact a Medicare Supplemental Expert at Medicare Supplement Shop for more information.