Watch this Step-By-Step Guide that will show you how to find the Best Medicare Supplement Rates available!
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Today we are going to show you a step-by-step guide that will show you exactly how to find the best Medicare supplement rates (the lowest prices) available. Each day our clients ask us what the best company is when it comes to a Medicare supplement plan. The answer is… there isn't one! It's all about which insurance company is going to provide the lowest rates for you. So today I am going to show you a couple of easy-to-use tips that will help you find the insurance company that will offer you the lowest rates for the supplemental plan you are looking for.
The first thing we want to share is that ever company that offers a Medicare Supplement plan (Medigap) offers the exact same coverage for that particular supplemental plan. This means that ever company that offers you Plan G offers the exact same coverage as every other company. It doesn’t matter whether you choose Humana, AARP United Healthcare, Aetna, Cigna, Mutual of Omaha, or any other company. Plan G is always plan G and Plan F is always Plan F. Additionally there's no network of doctors as every company is required to allow you to go to any doctor that accepts Medicare.
So know we know that all the Medicare insurance companies are equal, how do we choose between Medicare supplement Plans such as Plan F, Plan G, and Plan N? Well there's two key factors that we want to look at. The first one is the price! Simply put, if you were going to go and buy a car you know you could get the exact same red honda from one dealership as you can the next, everything is identical but the price is going to be very different between those dealerships. So why don't we buy from the dealership that's been offers the lowest price? This this is exactly how Medicare supplement plans work!
The second thing a little bit different and a lot of people don't think about it but this is really important! Which is rate increase history. Now each year on your birthday your rates are probably going to go up on your Medicare supplement plan so we want to go with a company that has a history of very small increases. Not only do we want to save money today but we want to keep your price down in the future as well! So we don't want to sign up with a Medicare company that has a low price today and huge price increases tomorrow. Now these two key points we just talked about, price and rate increase. Are relevant for any Medicare supplement plan you want to shop for including Plan F, Plan G, Plan N, Plan K, or any other one. But for today's example I want to take you behind the scenes and show you our quoting software and show you the prices for Plan F and plan G so you can actually see what all the companies charge for somebody who's turning 65.
Another reason it's so important to shop around for Your Medicare Supplemental Coverage is because these prices are based on your current zip code, your age, whether you're male or female, whether use tobacco Products, and the plan you select. So it is Important to shop around to find the best rates for your particular situation and not assume that because a particular company was the best price for a friend or family member that it will be the best Medicare supplement plan for you and provide you with the best rates. I even have husbands and wives go with different companies on occasion because it's going to save them the most money.
So whether you're just getting started shopping for Medicare supplement coverage or if you would just like to get the rate increase history or price of a specific company without having to sit on hold for an hour with an insurance company, simply give us a call we're happy to help you right over the phone! Again with just couple of pieces information and our team at Medicare Hero can give you all the prices for Medigap plans in your area along with rate increase histories, all in an easy to view format so you can make a well informed decision on your coverage.
Thank you so much for watching and don't forget to subscribe to this YouTube channel and visit our website at or click the link below if you'd like to submit a request for quotes online!
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Problem is the prices mentioned are for one year only and probably these are teaser rates that will be jacked up in following years.
Hi Serferten, That is a great question. You are correct that rates are typically based upon your current age so you can expect to get a small rate increase each year on your Medicare supplement plan. The average rate increase on Plan G is about 2% per year and Plan F has an average rate increase of about 4%. So if you have a plan that costs $100 per month then your rate increase from year to year would only be about $2 – $4.
One very important thing to look for in your Medicare supplement coverage is the rate increase history of the company you select. When you call our team at Medicare Hero we can help you find not only the lowest rates available but also find a company with a good history of low rate increases.