Shopping your Medicare plan can allow you to save money on your Medigap policy, prescription drugs, and other health expenses. So why aren’t you?
It’s commonplace to shop around, clip coupons and look senior savings days all in a valiant effort to get the best price on groceries and gasoline you name it.  A recent study showed |that not only do people over 65 spend very little time shopping for their Medicare plan and the reason you ask… FEAR
You can read the report here.
There is a myriad of reasons for the reluctance of consumers to shop their plans as they do say a turkey for Thanksgiving or perhaps the best price on a new vehicle.  I’m hoping to clear some of those up! Encourage you all to spend more time reviewing your Medicare plan or find an independent broker like Senior Market Solutions who can help you to do so.
The first step to relieving the fear and anxiety factor. I get it, folks! But, it’s not as scary as it seems.  The key is understanding two concepts… Medicare (parts) and Medigap (plans) and how they work.
When choosing Medigap as an option you must understand that the policies are made up of plans. Those plans are labeled with letters and each letter represents a corresponding set of benefits.  These plans are offered by private companies to cover things that Medicare does not such as copayments coinsurance and deductibles.

So where does all that leave us? It comes down to one of three options, keeping in mind that typically Medicare pays 80 percent of eligible expenses and the remaining 20 percent are your responsibility. to cover
Option 1
You can choose to carry Medicare only and pay the 20 percent and any other on cover charges you might incur out-of-pocket.
Option 2
You can choose to use part C of Medicare and join a Medicare Advantage plan
Option 3
You can choose to use Medicare in conjunction with a Medigap plan in which Medicare pays its 80 percent of eligible expenses and then your Medigap plan pays the remaining 20 percent of charges and more depending on the plan chosen.
After you understand how the parts and plans work it simply comes down to choosing the option that best suits your needs and budget.  You can go at it alone, go to the company directly or use an independent broker.  check out this video covering why I think you should work with an independent agent here.

About Alicia Gibbons

Alicia is a Senior Office Administrator in the Medigap industry and has 10 years experience. She is a one stop shop for answers, information and support for Medicare clients. When shes not writing you can find her in the garden.