Medicare Supplements – Frequently Asked Questions
Medicare can be confusing, and our goal is to make it simpler for you to understand how your original Medicare functions, and what a Medicare supplement does to help fill in some of the gaps in Medicare. Because our agency has worked with Medicare supplements for several years, we thought we would list some of our most frequently asked questions below, as you may have some of these same questions yourself.
What is the best Medicare supplement that I can buy?
There is no such thing as a “best” Medicare supplement, because your choice of coverage is a very personal decision. Some people might opt for a Medicare supplement that is less expensive but requires them to do some cost-sharing on things like hospital or outpatient deductibles. Other people might opt for a Medicare supplement that covers nearly all of the gaps in Medicare so that when you access medical care, your deductibles and copays are already picked up by your Medicare Supplement. Our friendly and knowledgeable agents can help explain the various supplements available to you, and help you choose one that is the right fit for you personally, based on your needs and budget.
When is the best time to enroll in a Medicare supplement?
Medicare has a publication called Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare. You can find a link to this publication on the right sidebar of our Home page. On page 14 of this publication, Medicare states “the best time to buy a Medigap policy is during your Medigap open enrollment period.” Your Medigap open enrollment period begins on the first day of the month in which you are 65 or older and also enrolled in Medicare Part B. This period runs for 6 months, and during this period, you can enroll in any insurance company’s Medigap policy, and you cannot be refused coverage based on any health conditions. Since there is no health underwriting during this period, many people consider this one of the best times to enroll.
How much does a Medicare supplement cost?
The cost of a Medicare supplement may vary based on your age, gender, tobacco usage and which zip code you live in. With Blue Cross and Blue Shield of Texas medicare supplement policies, the rates do not vary for gender or tobacco, but they do vary based on your zip code, age and which supplement policy you choose (such as Plan F or Plan G) To get a quote directly for you or a loved one, please call us or use or online contact form.
How do I pay for my Medicare supplement insurance policy?
Blue Cross and Blue Shield of Texas Medicare supplement policies offer you several payment methods, including monthly bank draft, or direct billing monthly, bi-monthly, quarterly, semi-annually or annually. There is no money due at the time of your application. The insurance company will simply bill you for first month’s coverage after your policy application has been approved. Also, you always pay directly to Blue Cross and Blue Shield, not to your insurance agent. Your policy will be mailed directly to you, as well as your Medicare supplement ID card.
Why should I work with your agency to enroll in a Blue Cross Blue Shield Medigap policy?
There are several reasons why you might find working with us to be helpful to you. First, our agency specializes in Medicare-related insurance products, and therefore we generally have more knowledge and education about the insurance policies for the senior market that an agent who tries to sell health insurance policies as well as auto and home insurance and other types of insurance.
Second, when you apply for a Blue Cross Blue Shield of Texas medicare supplement policy via our agency, you can rely on us for service on your policy. When you have a general Medicare question, or if you have any issues or claims problems, you can call us directly and get help from a licensed insurance agent that you already know and trust, instead of having to call a 1-800 number and get routed through telephone prompts and wait on hold for service.
Finally, it makes sense for us to have a vested interest in your overall happiness with your chosen policy, because if you are unhappy, you might go somewhere else with your business. We are very committed to providing you excellent service so that you remain a satisfied client of our agency for the long-term.
Do you have any other questions?
We encourage you to call our agency directly if you have any further questions whatsoever. You will find helpful agents here who are not pushy, and who care very much about empowering you with the knowledge you need to make an informed decision about your coverage. Just visit our contact page for information on how to reach us!