4 Tips For Shopping for Medigap Insurance

Because Medicare and Medicaid don’t cover exactly everything in the medical industry, there are definitely some things that they fall short on. This is where Medicare supplemental insurance, also known as Medigap insurance, comes into play. Medicare supplements can be purchased separately from a private company. However, it can be hard to know which companies are providing the best service as opposed to which ones that don’t. These are four helpful tips for shopping for Medigap insurance and getting the best Medicare supplement rates.

1. Are Pre-Existing Conditions Covered?

One of the first things you should be asking companies when shopping for Medigap insurance is whether or not pre-existing conditions are covered. Contrary to popular belief, many companies do not cover existing conditions at the time of purchase of the policy. Before making a big mistake and signing an agreement with a company that won’t cover an existing condition you might have, read the fine print.

2. Watch Out for Companies that Heavily Pressure You to Buy

Illegitimate private insurance companies have questionable methods for getting customers to buy their insurance policies. If an agent tries to scare you into buying or if you were contacted about the insurance policy via a “cold call,” be extremely cautious with the company in question. Don’t let insurance agents scare you into an expensive life insurance policy. These are all tactics to dip into your wallet; know how to recognize them.

3. Check for Unbiased Reviews of the Company Online

The internet is wonderful for many things. This includes uncovering the truth about practically any company you can think of. Customers are often willing to tell the world exactly what they think of a company, and this is even more true if they’ve been wronged. Check in unbiased consumer communities for reviews on the company in question. Check for talks on claim reliability, refund policies, and more.

4. Question Whether You Truly Need Medigap Insurance

There might be a chance that you don’t actually need Medigap insurance. Maybe your employer already offers an insurance option that covers your specific medical needs. Maybe you’re just ready to ditch the company you have now for some insignificant reason. Don’t make an unnecessary purchase without doing all the research first.

Overall, there are several things you should look out for when shopping for Medigap insurance. Don’t make the mistake of buying into a policy that you later won’t want. Do your research and compare companies/policies before making a decision.

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