Have you noticed some of your friends or family members seem to be getting all the medical coverage they need but aren’t paying a lot for that coverage? That’s because they are comparing the various plans to find the best fit for them. When you compare Medigap plans for 2017, you can find the best fit for you and save a lot of money. Here’s how you do it.
You will probably want to start by laying out and examining all the available plans. There are a total of ten of them, and each one offers coverage in varying amounts. Something like Plan F is a full coverage plan. This would mean it covers all the supplemental epxne4ses, like Medicare Part B excess charges, all co-payments, hospice care and more. Other plans like Plan G cover slightly less, but they also cost less.
So you look at what each plan is offering and you compare them. See what sets them apart and get a better idea of how they are going to work for you. Once you do that, you can start to look at your coverage needs. You probably have some medical expenses that are costing you a lot each month. Those are the ones you need to address first.
You don’t have to get every medical expense covered by these plans though. You may notice that you occasionally have to pay the Medicare Part B deductible. If you don’t pay it often though, then you probably don’t need it covered. It’s a relatively small expense, and if it isn’t repeated throughout the year much, then it may not be worth covering. Consider how often you have an expense to pay as you compare Medigap plans for 2017. It may be in your best interest to shave off some coverage by choosing a lower-coverage plan and save some money in the long run.
As you compare plans, consider how much the plan costs as well. You can find great rates on the plan you need, but it will take some work. Each insurance company is going to have different rates for the plans you are interested in. If you really want to cut back on your medical care spending, this is the way to do it- just get some quotes from a few insurance companies on the plan you are looking at and compare them to find the cheapest one.
You make sure you are getting the plan that covers you best though. If you aren’t comparing and you aren’t considering all your options, you may miss out on a plan that is a perfect fit for you. But you should also keep in mind that you may need a different plan a few years down the road. The expenses you are paying now may not be the same ones you are paying in a few years.
Take that into consideration as you compare Medigap plans for 2017 and try to choose your plan accordingly. It may not hurt to have a little extra coverage so you can hold on to the same plan for a while.