| Medicare Supplements are standardized - what | | | | insignificant company facts that should have little, |
| this means for the Medicare-eligible consumer is | | | | or no, bearing on their decision. For example, Plan |
| that comparing the plans from one company to | | | | J has two more benefits than Plan F (At Home |
| another could not be any easier. It is easy to get | | | | Recovery and Preventive Care). However, both |
| bogged down or overwhelmed with the insurance | | | | benefits are limited ($120/year for Preventive |
| jargon and significance involved with selecting a | | | | Care and $40/visit for At Home Recovery). So, |
| Medicare Supplement plan; however, there are | | | | unless costs are pretty close together, F is likely |
| three general guidelines that you can follow to | | | | the better deal. Far too many times, people |
| make the process easy, enlightening, and | | | | choose a plan because it is the most coverage or |
| economical. | | | | a company because they have seen their |
| | | | television commercials without actually considering |
| 1. Use a broker but make your own decision. | | | | the options in a rational, unbiased way. |
| Brokers are independent contractors, licensed | | | | 3. Company reputation/rating is important but it is |
| through the insurance companies to market and | | | | not everything. Sure, all other things equal, it is |
| sell their insurance products. Many people assume | | | | better to be with a company that has been in |
| that you have to either pay the broker a fee or | | | | business 100 years as opposed to one that has |
| pay more to obtain a supplement through a | | | | been in business 100 days. However, the |
| broker than you would directly from the | | | | company ratings are apt to change on an annual |
| company. However, this is not the case. On the | | | | basis, and have not always proven to be the best |
| contrary, using a broker is the way to go. | | | | indicator of financial stability. In addition, Medicare |
| Brokers can compare all of the different options | | | | guarantees that, those who lose a Medicare |
| and give you the information so that you can | | | | Supplement due to the insolvency of a company, |
| make an informed decision based on unbiased | | | | have the right to purchase another Medicare |
| facts. By calling a company directly, all you do is | | | | Supplement from a different company on a |
| bring their personal preferences or selling points | | | | guaranteed issue basis. The main factor is your |
| into your decision-making. It's like asking Coke if | | | | decision should always be monthly premium -- |
| you should drink a Pepsi or a Coke! | | | | with Medicare Supplements, paying more money |
| 2. Don't miss the forest for the trees. When | | | | for the same coverage just simply doesn't make |
| making a Medicare Supplement decision, many | | | | sense. |
| people want to focus on little coverage details or | | | | |
