Are you a senior who is thinking about signing up for supplemental health insurance?
If so, you may be concerned about the cost but we will break it down for you below!
In terms of cost, this will ultimately depend on the plan you are searching for as well as the healthcare insurance company you select, the kind of plan and the level of benefit you require.
To begin with, it is important to note that there is a big difference between supplemental health insurance and Medicare supplement plans.
These two terms are frequently confused due to their similar-sounding terminology.
When you turn 65, you have a range of insurance options available to you. In order to make the most out of this, it is recommended that you work with an agent (representing a variety of insurance companies) so that you can easily find the coverage you need.
Finding such an agency can be tricky because you need to ensure that they have your best interests at heart and are 100% dedicated to finding you a good quality insurance plan.
A good agent will make sure that you also receive value for your money
Try and find an agent who has a lot of experience working with senior clients, is objective and who does not represent any particular insurance company.
When referring to the Medicare & You Guidebook (recommended literature for any senior in search of supplemental health insurance, you will notice that all of the supplemental plans mentioned are the same, irrespective of the insurance company.
This is because you will pay each plan in the exact same way and the same amount and they are also accepted by each Medicare provider in the same manner.
The difference, however, is that your premium will be based on what is currently available in the market.
Beware of working with an agent who only deals with “Turning 65” clients.
Such agents are often mostly concerned with obtaining new clients who will soon be turning 65 and often simply do not have the time to take care of your requests in an efficient way.
A good supplemental health insurance agent will have several years of experience and will be able to easily find you what you are looking for.
Finally, even though the average cost of supplemental health insurance for seniors can vary greatly, if you have a good agent you should be able to get good value for your money!
Here’s your next step…
eSupplemental.com is a top supplemental health insurance provider for seniors. They provide a free service to you, to help you choose which supplemental insurance is the best option.
They are able to shop around different insurance providers to find you the best plan.