Should You Switch Your Medicare Supplement Insurance Carrier?

by Grecy Charls Blogger

Most of us resist change when it comes to our Medicare supplement insurance. We would not want to rock the boat and so we continue paying our monthly premiums for the medigap insurance. The Medicare supplement insurance company increases the premium year after year. Despite this increase we continue with the same company. Should one consider switching their Medicare supplemental policy or is it better to continue with the same company for the rest of one’s life?

The answer to the above question depends on your specific situation and your eligibility criteria. When you purchased your Medicare part G you would have definitely shopped around for the most cost effective and the most competitively priced quote. However, this does not mean that your policy remains to be one of the most competitive policies. As you are not even checking the quotes around you would not know whether you are still paying the lowest premiums or whether other cheaper premiums with the same coverage are available.

People wakeup only when they cannot afford their premiums for the medigap policy. They start looking around for a more competitively priced policy but by then it would be too late. They would not be eligible anymore to purchase the specific medigap part and this would only mean that they have to either terminate the existing medigap policy which they are not able to afford any longer or that they continue paying a higher premium.

If you do not act at the right time, you would only be limiting the options. Why to put yourself under such disadvantageous position? Go ahead and find the most trustworthy insurance broker in your area and let him or her review your existing policy and find out whether you are paying the right prices or whether you are wasting your money by paying a higher premium than required.

It is important that Medicare supplemental insurance customers regularly review their policy premium and find out whether cheaper options available. If you are going to be lazy in this regard then you better be prepared to lose money. There are so many new offers and deals available but soon all these options will start disappearing. All that it would take is to find a dependable insurance broker to do the homework for you. There is no need for you to waste your time doing all the heavy lifting. You can entrust your requirements to the industry experts and they will do the needful.

When you have a long term association with your Medicare supplemental insurance broker, they will update you from time to time on the latest offers. They will also recommend when it is suitable for making a switch. Timely switches to the right policies will save you several hundreds every year. Why to waste your retirement funds on higher premiums when there is a way to spend less? Look for a reputed Medicare enrolment agent to take care of your requirements.


Chris DeNorch is the author of this article on Medicare supplement insurance. Find more information about Medicare part G.

Sponsor Ads

About Grecy Charls Freshman   Blogger

4 connections, 0 recommendations, 21 honor points.
Joined APSense since, August 1st, 2019, From Clayton, United States.

Created on Sep 3rd 2021 10:06. Viewed 222 times.


No comment, be the first to comment.
Please sign in before you comment.