insurance

I need to obtain Supplemental medical insurance as I am approaching age 65. What is the least problematic way to get necessary information on coverage without dealing with an agent of the companies. What questions should I be asking and how do I do a cost comparisence. It , so far, sounds like I will be paying the same amount for all the necessary coverage, that I am paying now. Please give me some questions to ask or how to make this easier !

Well, it's on a state by state basis. Not all supplemental plans are offered in all states, and coverages vary by state, also.

Your BEST bet is to have a sit-down with the guy who writes your auto and homeowners insurance, and ask him about it. He can ALSO do a cost/coverage comparison, and will have working knowledge of the SPECIFICS of YOUR STATE.

It all depends on where you live. State and county are important.

Then you have to decide if you want medicare supplement or medicare advantage. Medicare advantage plans are generally cheaper but you do have copays and the out of pocket expense can be unlimited.

Medicare supplement plans are more expensive. here in wisconsin a 65 year old can get a plan for about 1000. As long as you take all the options in wisconsin again a medicare supplement is 99.9% the same as every other one.

Back to medicare advantage plans they are a completely different beast and each plan is very different.

Universal Health care has some good plans http://www.uhc.com

one of their plans gives you your 93.50 back from the medicare premium each month so you pay $0.00

If you have a local sr. center, you can find out if they might have a :"shine Lady" They help seniors get health insurance and are totally helpful to the 65 and over yrs. If they do not know of this person, get in touch with an office of elder affairs. They will know how to reach them for you. You can also check in your phone book....bettyk

It is very confusing and intimidating trying to find the right plan. I would suggest visiting an independent agent that works in senior markets for help. Agents are restricted by CMS as to what they can say about competing plans. An independent agent that works will all the major plans can give you the good and the bad about all plans they represent.

There are two types of "supplements". I'll give you the basics here because space is limited but know I'm just skimming the surface.

The first type is a traditional supplement, also known as a Medigap policy. The premium for someone 65 starts out at around $120 - $150 per month. These plans are generally better for people who see a doctor several times per month and go to the hospital several times per year. One tip: get three quotes for each company. One for your age now, one for 5 years older and one for 10 years older. Many companies will have a lower "teaser" rate to get you on the plan and increase the premiums substantially over the years. If you have any major medical problems while on one of these plans it can be very difficult to change to another company. The plans are set by federal guidelines so plan F with one company is exactly the same as plan F with another.

None of the supplements have prescription coverage, so you'll need a stand-alone Part D plan. The average cost for these plans across the nation is around $27 per month. It is easy to switch companies and plans (within federal guidelines) if you need to.

The second type is Medicare Part C, also known as a Medicare Advantage plan. You can get these plans as an HMO, PPO, and PFFS (the agent can explain the differences). Many of these plans have a premium as low as $0 per month, the average is around $26 per month. The premium is the same no matter what your age. Many also include Part D. There are small co-pays when you seek medical care. It is easy to switch companies (again within federal guidelines) if you need to.

With any plan covering prescriptions do an analysis of the co-pays. There can be several thousand dollars difference in what you pay between plans over a years time. Make sure any medications you are taking are covered on the formulary if possible. It is easy to switch companies (again within federal guidelines) if you need to.

Which company is best can't be determined here. The plan that is best for one person may not be the best for their spouse or neighbor because each person is different and has different needs. The plan that's best for you in one county may not be the best plan for you if you move to another county, even in the same state. This is why you need an independent agent to help. The agent can compare the plans to find the best one for your situation.