The number one misconception about Medicare Supplements is regarding enrollment dates. You can change your Medicare Supplement at anytime during the year!Jeff Goldman
Saving money on your supplement
Most people purchase their supplement and hold on to it forever because they think the coverage has been great since they have basically paid nothing out of pocket and they know their supplement is accepted by all the doctors and hospitals that they go to. Although their premium has gone up every year, most people are of the mindset that they are 70 or 80 and that is not the time to change their insurance. Here’s the reality…..the supplement is not their insurance. It’s just a standardized policy that fills in the gaps of their primary insurance which is Medicare. In fact, no matter which insurance company their supplement is with, it is accepted by every doctor and hospital that accepts Medicare.
At GM Goldman, we help our clients shop their supplement every 2 to 4 years depending on rate increases. Since all Medicare supplements are standardized and one company doesn’t do anything better or pay anymore than another, we do not want our clients to ‘fall in love” with how wonderful their supplement has been. They could have been with any company and it would have paid the exact same. For example, a popular plan is Plan G. All plan G’s are identical. They are not kind of the same or sort of the same….they are exactly the same! Therefore, there is no reason to pay more for one over another. By constantly staying on top of the Medicare supplement marketplace, we have been able to save our clients thousands of dollars over the years.