What is Medicare Supplement (MEDIGAP) Insurance?
Medicare Supplement insurance fills in some of the "gaps" in the Medicare program. There is a huge misunderstanding in the over-age-65 population regarding Medicare Supplements. Most seniors feel that their Medicare Supplement is the most important insurance they have ever owned. They will say things like, "My husband had surgery and his Medicare Supplement paid almost the entire bill." NO!!! Medicare paid most of the bill. The supplement simply fills in the holes, or gaps in Medicare. Medicare parts A & B are the primary insurance and the supplement is secondary. Medicare Supplement insurance only takes over where Medicare leaves off.
Most people we talked to are satisfied with their Medicare Supplement. They purchased it at age 65 and never changed because they are happy and they have little or no out-of-pocket costs. They accept yearly price increases because they figure, "Why fix what is not broken?" The reality is, however, that all Medicare Supplements are the same, the only difference is price. Insurance companies have the option to offer plans A through N, the most popular plan being Plan F... IT DOES NOT MATTER WHO THE INSURANCE COMPANY IS...THE ONLY DIFFERENCE IS PRICE. The difference in price can be anywhere from $400 per year up to $1,200 per year, depending on age and which plan we are comparing.
We encourage and help our clients to shop their plans regularly. By doing this, we are able to save our clients thousands of dollars over the years. Our loyalty is to our clients, not to any one insurance company. We find that sometimes clients stay with a company because they feel the company did a terrific job with claims. While that may be true, every company would have paid the same. Please understand, the insurance company has no decisions to make when it comes to claims. They have no discretion to approve or deny a claim. The decisions are purely Medicare's. If Medicare says pay, the insurance company has to pay. If Medicare doesn't pay, then the insurance company doesn't pay either. In other words, it really doesn't matter which insurance company you are with, they are all the same. That being said, at G.M. Goldman & Assoc., Inc. we represent most of the top companies and will make our recommendations based on price, company strength and service.
By working with the Medicare Supplement specialists at G.M. Goldman & Assoc., Inc. you can rest assured that not only will we find you the best Medicare Supplement when we first meet, but that we will make sure that you always have the most competitive Medicare Supplement available. Our goal is to be your Medicare Supplement provider for life.