A Medicare Supplemental Health Insurance (also known as Medigap), as mentioned in our previous blog, 3 More Smart Ways to Save Money, is an essential retirement tool to have to secure one’s golden years. After all, the opportunity of one to gain the security net when dealing with out-of-pocket medical bills can prove to be rewarding, considering that these fees are regarded as one of the leading causes of losing out hard-earned cash during retirement.
(Reiterating the importance of these expenses, a recent Commonwealth Fund study revealed that approximately 15 million people of Medicare beneficiaries spend up to 20% of their income on premiums and other out-of-pocket fees for health care services).
And more than paying for the “gaps,” some Medicare Supplements offer additional features. One particular feature that most baby boomers will find to be beneficial is foreign travel coverage – perfect for those with plans to travel during the retirement years or for those who regularly go to places with warmer climates during the cold months.
Yet, as essential a supplemental health insurance for Medicare can be, a question still needs to be answered: where can you get a plan or a quote for a policy? As such, we’d like to share some suggestions:
Private insurance companies sell Medicare Supplemental Insurance Plans. This means that applicants get the chance to shop around the market for a policy that will not only give them the best price – this also offers the opportunity for one to select a company to work with, to find an agent that’ll support them through thick or thin.
And requesting a quote from the agents themselves offers an advantage for applicants when preparing for their future. Aside from setting expectations for the twilight years and getting the help and support that one needs, requesting a supplemental health insurance quote for Medigap from these agents will allow an individual to have the right mindset required in preparing for retirement.
Aside from private insurance companies, other retirees or baby boomers may give you recommendations or referrals on where to seek quotes for Medicare Supplements. This approach will allow you to gain access to firsthand experiences from users or policyholders, giving you a better perspective on how to tackle your retirement plans.
Lastly, doing your own research on how to plan and understand Medigap policies will eventually lead you to places where to request a quote. Medicare Supplement quotes can be searched online, which, for most insurance agency sites, will then result to an agent contacting an applicant. This way, an applicant will have enough time to learn the basics of what a policy can offer them, before eventually seeking more help from a quote request.
Additionally, Medicare Supplemental quotes are meant for individuals to get an idea of how much needs to be set aside when considering supplemental health insurance assistance and coverage. The knowledge gained from this will definitely help a person prepare for their future – and make the necessary changes needed to make ends meet for a plan.
We hope that the above suggestions will help you in asking for a Medigap quote. Time is of the essence when applying for Medigap coverage (mainly because of premium increases or eligibility requirements). As such, we hope that you’d request for some information today, for you to both prepare and be equipped with an essential tool for the retirement years.
If you have any questions or thought about the topic today, please leave a comment below. We wish you luck with your plans, and we hope a brighter future for all!