Why Do Insurance Companies Charge Different Rates for the Same Medicare Supplement Plan?
Different insurance companies have variations in their pricing structure for exactly the same Medicare supplement coverage. People often ask me why this is so. I believe it has to do with how long that company has been writing the business. When comparing Medigap policies, if you are looking at Medicare Supplement Plan F with one company, make sure you are looking at Medicare Supplement Plan F with the other company.
Common Medicare Supplement Plan Rates Terms:
An Independent Medicare Supplement Insurance Agent Works For You, Not The Insurance Company
This is where an experienced Florida Medicare Supplement Agent can be very helpful. An independent appointed agent can discuss and share the subtle differences between insurance carriers and share client satisfaction over many years.
“Neil Primack helped me navigate the Medicare maze. He is very knowledgeable and we quickly found insurance that was just what I was looking for.
I would recommend Neil to friends needing help.”
Some companies raise their rates more frequently while other companies can be easier to deal on the phone when that need arises. Each insurance company sets its own premiums. Once that price is set, it will affect how much you pay now and how much you pay as the years go by. However, each company can increase or decrease their rates whenever they need to, as long as it’s approved by the state their doing business in.
If you are new to Medicare, you can’t help avoid being confused by all the new insurance terms around your 65th birthday. On top of that, you’re getting tons of stuff in the mail and likely unsolicited phone calls. If you go online and request a quote, your information can and often is sold as a lead to many agents. So be careful in how you go about your search for clarity and information.
It is usually best to work with a local licensed agent who has multiple years’ experience working in the Medicare supplement arena.
For more information on how Florida Medicare Supplement Insurance can help with your health insurance needs call Neil Primack (561) 935-3907 or email him at: firstname.lastname@example.org.