Comparing Medicare Supplement Plans is simply the best way to thoroughly ensure that you have the lowest priced Medicare Supplement Policy that is available to you when you are on Medicare – over age 65. When starting your search for a Transamerica medicare supplement, you should read through Medicare guides–you should receive a “Choosing a Medigap Policy” guide by Medicare when you first turn 65, and if you don’t remember getting one, you can call Medicare directly at 1-800-MEDICARE.
Once you feel that you have a decent understanding of supplemental Medicare insurance, the plans that are offered, and how coverage works, it is the time that you start the process of selecting the policy you want, and from which company you will get it through. One of the best resources you can use to your advantage when looking for a Medicare Supplemental Insurance plan is an independent insurance broker. By starting with a broker, you will have unbiased advise and plan recommendations–as opposed to a “captive agent” who will only work for one company and can only sell you one policy.
The most popular supplement plans are by far the Plan F, Plan G, and Plan N. Although there are really a total of 10 Medicare Gap Policies, the three mentioned are the most popular and account for over 90% of all Medicare Supplement sales. The Plan F has the highest level of coverage, and many senior citizens call it the “Cadillac” plan. Plan G is sort of in the middle (although very similar in coverage to Plan F besides a small deductible. Plan G has the best level of value. Plan N is one of the cheapest Medicare Supplement Plans, and due to it being cheaper, it also covers less benefit. Depending on your comfort level, one of these plans is sure to be suitable for you. Comparing Medicare supplement rates on all of these policies will ensure that you pick something in your price range, and are also not overpaying for a plan that could get elsewhere for cheaper.
Most senior citizens on Medicare are often overwhelmed by all of the numerous options that are available to them. Many people, unfortunately, end up choosing the “wrong” type of insurance plan because they simply were not aware of a more suitable type of coverage. Medicare does not do a good job of helping people age 65 and above to understand what is available to them; therefore they are “in the dark”. Doing your research will definitely pay off and help you to make sure all of your insurance needs are met.