1. 4470 POINTS
    Brandon RobertsPRO
    Owner, The Insurance Pro Blog,
    Medicare supplement plans depend on your specific needs so there is much more information that would be needed in order to determine which medicare supplemental plan is best suited for you. 

    You should seek out the advice of a licensed insurance agent who can better guide you on which plan is best for you.
    Answered on August 25, 2013
  2. 1866 POINTS
    Paul RothPRO
    Senior Commercial and Annuity Specialist, Freedom Brokers, Marion, Carbondale, Harrisburg IL
    There are several factors to consider before making a decision for your senior Medicare needs:
    Foremost, will you be better off purchasing an insurance supplement, or is a Medicare Advantage plan better for you? Those two solutions to solving your needs are different animals entirely, so make sure you educate yourself on the different advantages of each and look for only plans in your area. Some plans are county specific. Some supplements are area specific.
    This is one journey you do not want to take alone.
    So to help you make an informed decision with your agent, you of your power or attorney need to keep in mind the following items

    1. Are you eligible to change what you have?
    2. What medications you take.
    3. How often do you go to the doctor?
    4. How much risk are you willing to accept in return for lower premiums? All insurance plans transfer some risk from the client to the insurance company. The less risk (deductibles and copay) on the client, the more premiums will be. Supplements that have the same letter name (PLan N, for example) theoretically cover the same items, so you should be shown what they do and do not cover, and be able to compare costs with other companies.
    5. Are you on assistance?
    6. Are you under or over 65? When did you get part B?
    7. What state and county do you live in?
    8. Do you have extensive chronic illnesses?
    9. Did you recently move, get married, get divorced, move in with family members?
    10. What is the carriers financial rating and how long have they been in the Medicare Supplement or Medicare Advantage business?

    These and other questions are ones I ask before making any recommendations to my clients. If you go to an independent broker who has many Medicare clients, he should have several choices to offer, as there are many companies that compete in this arena. It isn't an easy answer, hopefully the above questions will help you gather a checklist for your agent. If he or she does not ask many of these questions, or only has one solution, you might be better off to move on to a different agent
    Answered on May 9, 2015
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