If Your Insurance Company Cancels Your Medicare Supplement

If you have been to your doctor’s office lately, as I have, you have probably overheard various conversations regarding issues with insurance companies offering Medicare Supplements in that particular area.

During my last visit to my doctor – who treats a lot of patients on Medicare – I overheard several people talking about their Medicare Supplements, and most of the conversations were not positive. There were complaints about lack of coverage, high premiums and other not so happy issues.

One issue that came up at least twice during just a few minutes was the topic of a particular company leaving this area, which will leave thousands without coverage. Quite a number of seniors are not only scared, but worried about what will happen to them without their coverage.

If you are a senior who is losing your coverage because your insurance company will no longer be offering your Medicare Supplement, the first thing to do is look on the web at www.cms.gov or www.medicare.gov. Both sites will give Medicare information and links regarding supplements, as well as information and comparisons of the supplements that are available in your area.

Right now it is open enrollment period, so that is good news. There is plenty of information available, however, it is extremely important that you get correct information and not be fooled or tricked by misinformation that may be out there.

For instance, each Medicare Supplement plan covers the same things. Plan “F” covers the same things no matter which company you purchase it from. The only thing that is different can be the prices. Man companies inflate their prices by two or three times as much as the others. Yet the coverage for all part “F” is the same. All part “G” coverage is the same, but prices can be totally different. It is important to compare prices with every company in your area, and it is important to make sure that you purchase the Supplements, Medigap or Medicare Advantage that is best for your situation.

If your old company will not be offering the coverage you need, there will be other companies available. Check the websites above and if you cannot find what you are looking for, look up the word Medicare Supplements on your favorite search engine and you should find plenty of info. Make sure to compare coverage and prices so that you can get what you need.