Get the Right Supplement For You

Medicare Supplements used to be easier to navigate, then they got pretty complicated and now there will be more changes in June 2010, a year from now, so who knows what to expect.

In talking to individuals who deawith Medicare and Medicare Supplements there are some ideas they have to help people get the right supplement.

Some of the ideas include looking at your paperwork from the year (before you have to sign up again) and see where you spent the most. Determine what was not covered that you needed covered that you had to pay out of your own pocket. We are not talking about small expenses. We are talking about expenses that have added up over the year that are worth the cost of additional coverage or worth possibly changing supplements. For instance, if you spent $400 on a particular medical issue and you could add extra coverage in a different supplement and the coverage would only cost you $125, it could very well be time to change supplements.

There are 12 supplements available and they are sold by various companies. It is important to compare policies and compare prices from different companies. Some people have saved several hundred dollars by dong this.

Each of the 12 policies has specific coverage and no matter what company sells it, that coverage is the same. The problem is that many people don’t realize that one company can sell you a supplement for a certain amount and another company can sell you the same exact policy for much more – even double the price.

It is worth the time to check around and find two main things: what is the best price you will get and will it give you better coverage on the areas you are not covered well on now.

The ways to compare are to go on the internet and type in Medicare Supplelment or Medicare Supplement Savings and you will be taken to pages and pages of information including information directly from CMS and special calculators that help figure out the right policy for you. It is important to make sure to check the information to make sure the site isn’t an insurance company trying to sell you something unless you compare that site against others to find the best supplement and price for you.

You can also call your insurance agent and tell them that you are paying too much out of pocket. Is there another supplement he can suggest that will help you save some money either in premiums or out of pocket costs. Then call a few other agents and ask the same question. They should all send you paperwork that will show the figures – make sure you ask for that paperwork and then compare it.

If you start at least 6 to 8 weeks before you need to renew, you should have your information in time to make an informed decision. It sounds like a bit of work, but in the long run you could save enough money to put into savings and/or go on a nice vacation.