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Medicare
supplements are
standardized by
the government
so there are two
major criteria:
Company
stability
and monthly
premium. As
an independent
insurance
broker, our main
goal is to alert
our clients to
the best value
taking in to
consideration
the above
concerns. |
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Medicare
Supplement
Bulletin
85% of Medicare
Supplement
applicants
choose the F
plan. |
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The first
question when
choosing a
company is
stability
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With any kind of
insurance, what
you buy today
might not be
what you have
tomorrow. If an
insurance
carrier runs
into financial
trouble, they
can increase
rates, leave the
area or
business...either
way you lose.
In the next 3-5
years, a lot of
carriers will
have
difficulties
because of the
increasing
costs.
Lifeguard
just filed for
Chapter 11. A
strong carrier
is the first
concern.
Stability of the
company means
rate stability
and coverage
reliability in
the future. |
The
second question
when choosing a
Medicare
supplements is
RX
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Do I want
medication
coverage?
This single
handedly affects
the cost more
any other
consideration.
If you want
medication costs
covered, then
you would look
at the H, I
or J plan.
If you do not,
then most people
choose the F
plan. The
only difference
between the H,I
and J for
prescription
coverage is the
cap they will
pay up to. All
have a $250
deductible,
after which they
pay 50%. The H
and I plan will
pay up to
$1,250/year.
The J plan will
pay up to
$3,000/year.
The H or I plan
is a nice way to
have some RX
coverage at a
lower cost.
Keep in mind
that Part D with
Medicare is
scheduled to
start 2006 which
will offer a
prescription
benefit.
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IF you do not
want
prescription
coverage.
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The F plan is
the most popular
plan and best
value.
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Get your instant
quote
here |
