Medicare Supplement Plan Comparison

Medicare Supplement Plan Comparison

If you’ve found this article, chances are you are doing your homework on your Medicare Supplement plan comparisons. Look no further! We developed a tool for you to use to show instant rates in your area so you can compare all of the Medicare Supplement plans. You can find this tool by clicking HERE.

We call this tool our Medicare Supplement Quote Engine and you’ll be able to see all of the Medicare Supplement plan comparisons from multiple carriers for plans A – N. Once you submit your information, you’ll be able to see all of the plans and rates. We will call you to go over your options and answer any questions.

One of the reasons our clients love us so much is that after we get your Medicare Supplement in place, we will also assist you in finding a Part D prescription drug plan that is most cost effective for you. We have a team in place to help you with your Medicare Supplement options and another team in place to help you with your Part D.

Our clients have found that our team approach benefits them the most. Instead of having one person you can call, you have an entire team that has your back when it comes to Medicare. If you’re new to Medicare and are in your Open Enrollment period for Part B, all of the plans are available to you with NO health questions! If you’ve been on Medicare a while and you’re looking for a lower rate, we will go through health questions with you in order to find a carrier that would best suit your needs.

Got questions?

If you need assistance, we are here to help you navigate the Medicare maze! Just give us a call at (877) 759-5760, option 1. Our advisors are ready to answer all of your questions. You can also email our team at seniorservices@morganwhite.com if you prefer. We look forward to hearing from you soon!

2014 Medicare Review

At the beginning of each year it is always encouraged to get a handle on your financial awareness and make sure all your insurance policies and investments are in line with your expectations.  We agree with this an recommend our clients to consider a 2014 Medicare Review which would entail sitting down to make sure your coverage is providing the benefits that you want it to provide.   This includes evaluating what you currently have and the gaps in coverage that you may or may not realize you have.

Statistics show that over 50% of people do not realize the exposure they have with their current insurance plan.  Example people who have not purchased Medicare Supplement Insurance do not realize that a diagnosis with cancer does not have a limit with Original Medicare.  This means that if you were to have a six figure chemotherapy treatment there is not a cap to your out of pocket.  However, if you have supplemental insurance this can help you limit your exposure.  Another reason for having a 2014 Medicare Review.

2014 Medicare Review – What Should it Entail

Please know that we are just going over a Medicare review in this article we will not be covering the other insurance reviews that you should do on an annual basis; however, you can craft a plan around the following information:

  1. Find out what you have.  In Proverbs it explains that we should know the state of our flocks.  This means that we should know what we have and what it covers from a Medicare standpoint.  Do you have supplemental insurance?  Do you have a Medicare Advantage Plan?  Do you have Prescription Drug Coverage?
  2. Do you need supplemental insurance?  I am a strong proponent of having supplemental insurance.  The main reason being that an  unlimited maximum out of pocket is not something that 97% of the population could handle.  Basically I am saying that unless you can stroke a check for whatever amount without it messing up your financial planning you need a supplemental plan.  Compare Supplemental Plans Here.
  3. Take Inventory.  Figure out the prescriptions you are taking and do an online comparison with Medicare.  If you do not know how to do this you need to get with one of our certified specialists that can help you compare this.  The average person usually spends over $400 more than they need to on the prescription drug plans each year.  It is very important to compare these plans each year during the Annual Election Period.

These are our three basic steps for your 2014 Medicare Review.  If you have any questions please do not hesitate to call us at 1-877-936-2991.  Thanks.

2014 Medicare Review

Cigna Med Supp Rates – Take a Peak

Right now is the middle of the Annual Election Period and we recommend you take a peak at Cigna Med Supp Rates in your zip code.  They are not in every state across the country, but Cigna is really competitive in the states they are in.  Several states they are really completive are Mississippi, Tennessee, and Texas.

If you are looking to compare Medicare Supplement Insurance while you are reviewing your Part D plan view our Medicare Quote Engine for instant quotes.

Cigna Med Supp Rates

Below is an example of what Medicare Supplement Rates look like when you are comparing plans on our quote engine.  There are many states where Philadelphia American, AARP or United of Omaha will be the most competitive plan in your state.  However, if you don’t compare you will not know.

Even Medicare explains that it is important to compare Medicare Supplement Plans because it comes down to the price on which one you should choose.  We also say it is important to compare the financial stability of the insurance company – only choose an insurance company of B+ or higher.

Cigna Med Supp Rates

Cigna Medicare Supplement Plan F Rates – Mississippi Insurance Rates

What do you need to compare insurance plans?

There are only a few things you need to get a Medigap quote.

  1. Date of Birth – this is to verify your age.
  2. Zip Code – most companies offer their Medicare Supplement Rates by zip code.  However, Medicare Advantage Plans do theirs by county.
  3. Gender – some states this does not matter, but others it does so we ask for it on the quote engine.
  4. Tobacco – this may or may not apply depending on the state.

Feel free to compare the different Cigna Med Supp Rates through our quote engine to make sure you are not paying too much. If you would rather speak to someone contact our office at 1-877-936-2991.

 

 

 

 

Financial Advice from Advisors

Too many Americans are hitting retirement age and realizing “Shazzam” I guess I should have prepared a little better financially.  According to a recent Insurance News article, 80% of people say having a financially secure retirement is their goal and their idea of good retirement, followed by great health. To help you reach your dream and live a strong retirement we have put together a blog article that provides the best financial advice from advisors.

Financial Advice from Advisors

Keep in mind that this is dealing with retirement and and financial advice, not the best places to travel or the best way to get the kids out of the house.  Financial advice from advisors is great, but it does not mean anything if you do not implement the ideas that you are provided with.  The phrase “Action speaks louder than words” is the best way to describe this.  Advisors will help you overcome financial obstacles and prepare for the future, but what you as the reader really want to know is what are the top pieces of financial advice, advisors give:

  1. Increase Retirement Savings.  Save at least 10% of your income for retirement and try to max out retirement savings as early as possible.
  2. Create a financial plan.  This includes how you want to retire, how you want to live in the present, do you want to pay for your kids colleges, do you have life insurance, disability insurance or long term care to secure your and your family’s future?
  3. Get rid of debt and spend less.  This first thing to do is stop the consumptive spending if you have debt.  Get rid of the bad debt first and then try to pay off your mortgage once you have retirement and college saving in place.

Most advisors believe that 15-20% of your pay should go towards savings and future planning.  This is to make sure you have a comfortable retirement and are not strapped at a later age in life.   Many Americans, struggle with this and say they want to make sure they enjoy the present.

This is true that we do need to enjoy the present!  However, we should enjoy the present with boundaries.  Without boundaries or guard rails it is easy to get off in a ditch.

Once you are in retirement is important to protect your assets with a Medicare Supplement and a Long-Term Care policy.  These different insurance policies help strengthen your retirement plan in protecting from unknown health issues.  We hope you enjoyed this financial advice from advisors across the country.

Call us at 1-877-936-2991.

 

 

Medicare Supplement Insurance Plans

Medicare Supplement Insurance Plans area available in all 50 states through Medicare Insurance Finders.  We provide online rates with over 25 insurance companies in less than 2 minutes.  Our website is one of the only online sites that actually provides you with supplemental insurance quotes online.

Medicare Supplement Insurance plans help supplement Original Medicare.  This means that they pick up the deductibles and coinsurance that you are probably accustomed to paying.  There are 10 standardized plans as you can see in the chart below, but Plans F, G, and N make up probably 75% of the enrollments.

Medicare Supplement Insurance Plans

Medicare Supplement Insurance Outline of Coverage

Continue reading

Aetna purchases Coventry Healthcare

This week Aetna one of the countries largest insurance companies purchased Coventry Health Care for approximately 8.7 billion.  Aetna has pushed for more strength in the senior insurance market over the last several years with the purchase of American Continental,  Continental Life, and now Coventry.  This allows the insurance company to continue stretching out its growth in the Medicare market through its different filings in all 50 states.

Aetna is one of the largest insurance companies in the world and over the past few years has decided to make a hard push in the Medicare market.  With over 10,000 people turning 65 each day for the next 20 years it is hard to blame them or think that it is a bad move.  Continue reading

Best Medicare Plan

Do you want to make sure you get the best Medicare plan when you turn 65 and are eligible for Medicare?  If so there are several things to consider:

  1. The Best Medicare Supplement Plans can be different for different people!  Some individuals prefer the Medigap Plan F coverage which has no co-pays, deductibles or coinsurance.  Others enjoy the Plan G which only has a Part B deductible and is usually 10% cheaper than the Plan F.
  2. The Best Medicare Plan for prescriptions is usually going to be the one that covers your prescriptions with the least out of pocket costs for the year.  Insurance Agents are not allowed to say “the Best Part D plan or best Medicare Advantage Plan.” So what we say is the most cost efficient plan for your according to the Medicare.gov website for the next plan year is XYZ Insurance Company Preferred Plan with a premium of $00.00.
  3. The Best Medicare Advantage Plan is a little tougher to calculate.  You must take into calculation the providers in network/out of network with the plan, does it offer drug coverage and does it cover your prescriptions, what are the plan deductibles, co-pays and coinsurance, and many other questions.  Medicare.gov is a good resource. Continue reading

5 Ways for Seniors to Save Money!

What are the best ways for seniors to save money in 2013?  We have a list that will show you 5 ways your money may be getting thrown down the tube.  Right now our economy has a Congress that is gridlocked and disagreeing with everything the other party proposes, CDs and Annuities are at pretty low rates, and the cost of our necessities continue to go up.  Medicare Insurance Finders thinks there is no better time than the present to start saving. Continue reading

Oops.. the Part D annual election period is already over?

So what happens if you missed the Part D annual election period?  Some people still are under the impression that the annual election period is between November 15th and December 31st.  However, this changed a few years ago and now the Part C and Part D annual election period ends December 7.

If you missed this time frame you will be automatically enrolled for the following year in the same plan you are currently in.  So if you are enrolled in a Humana Part D Drug Plan that will be your prescription drug coverage for the following year as well. Continue reading

Continental Life Medicare Supplement Rates

Most Medicare Supplement Companies tend to give rate increases on a policy anniversary.  However, last year we saw something different from one of Aetna’s Medicare Supplement companies.  Continental Life Medicare Supplement Rates decreased by 15% throughout a lot of the country.  Once Aetna purchased the insurance company from Genworth they made the decision to be competitive in the Medicare Supplement market.

Continental Life was founded in 1983.  They have been in the senior market and represented by over 20,000 insurance agents.  Genworth previously owned this insurance company prior to Aetna purchasing them last year.

As you will notice through the online Medigap quotes provided by Medicare Insurance Finders.  Continental Life Medicare Supplement Rates are extremely competitive in most states especially for an “A” rated insurance company.  There are some other B+ rated insurance companies that are priced in the same range as the Continental Life Medicare Supplement Rates, but we are seeing more and more clients wanting an “A” rated insurance company. Continue reading