In Georgia, what is the cost of Medigap plans? What do Georgia Medigap plans cover? Which companies offer Medicare supplement insurance? Is Medicare plan F the best? Should I buy a plan from Blue Cross or Mutual of Omaha?
What is the cost of Medigap plans in Georgia?
Medigap rates are determined by many factors.
If you are turning 65 and ageing in to Medicare your cost of Medigap coverage is less than you would at age 70 or 75. (This is especially true with AARP United Healthcare rates).
Tobacco users pay more than non-tobacco users.
With most companies, men pay higher rates than women. Some carriers offer teaser discounts if you buy multiple policies. Others quote you low, introductory rates then zap you at each successive renewal.
In most cases you will pay more for a “name brand” carrier vs. one you may never have heard of before. But don’t let that stop you. All Medicare supplement plans with the same letter are required by CMS to offer the EXACT SAME COVERAGE, but they are allowed to charge you whatever price they want.
The carriers are allowed to charge more, or less, according to what the market will bear. But you don’t get a “better” plan by paying more. In most cases if you bought a “blue” plan, one from a mutual company or a plan offered by a large senior organization you paid too much.
Comparing plans in Hartwell, Georgia
Bill and Alice are turning 65 and looking at the cost of Medigap plans in their area. Specifically, they have asked about Medicare supplement plan F because that is what their friends have. They have also asked for rates from Blue Cross and Humana.
I never recommend plan F, and I never suggest buying from a name brand carrier. Even if you have money to burn, there is no need to pay more unless you just feel good about making the carrier and the agent wealthy.
Blue Cross rates for Bill are $176 a month, Humana is $175
Blue Cross rates for Alice are $176 and Humana is $168.
If they want Medigap plan F with either of those carriers I will be happy to assist. But I am obligated to tell them they can get the exact same plan for $40 – $50 less each.
They can save even more by picking something other than plan F.
If they follow my advice they will save well over $1400 per year.
Or they can listen to their friends, buy plan F from the Blue company, and fritter away $120 per month and have nothing to show for it. Pride and folly can be expensive.
What do Georgia Medigap plans cover?
All Medigap plans are standardized and the benefit structure is dictated by CMS. Georgia Medicare supplement plans are required to cover approved Medicare Part A and Part B approved expenses.
Medigap plan F covers 100% of approved Part A and B expenses. The 10 other plans available in Georgia pay something less than 100% but still deliver great value.
Over 90% of our clients have something OTHER THAN plan F and enjoy the savings.
Which companies offer Medicare supplement insurance?
There are more than 30 carriers that write Medicare supplement insurance in Georgia. Most seniors focus on the names they recognize and ignore the rest. In most cases they are paying more than they should without getting additional value.
We have been buying gasoline from Costco for several years now. Every time we fill up we save anywhere from $0.05 to $0.10 per gallon and sometimes even more than that. For every 15 gallons we average saving more than $1 per tank.
That may not sound like much but it adds up. Every dollar saved on a tank of gas is a dollar we can use somewhere else.
If you are like Bill and Alice and we could show you how to save $80 – $100 per month on the cost of Medigap coverage, would you be interested?
With over 170 different Medigap plans I know we can help you find a plan that fits your needs and budget. If we help you save over $500 a year then a few minutes on the phone with us was worth your time, right?