Purchasing Supplemental Insurance

If you decide to purchase a Medicare supplemental insurance plan we strongly recommend that you first educate yourself on what each plan offers, and compare that to what you need, and what Medicare won't provide for you.

Remember that not every insurance company offers all Medicare supplemental insurance plans, and they don't have them at the same prices. It's a good idea to get quotes regarding coverage from several providers before you make a decision.

All insurance companies are required to offer Medicare supplemental plans A, C, and F, if they offer supplemental insurance at all.

And if you already have a Medicare Advantage Plan, it is illegal for an insurance company to sell you a Medicare supplemental plan too. If you think you don't need your Advantage plan, and want to switch to supplemental insurance, first you must cancel your Advantage plan.

You can also cancel your supplemental plan and get a Medicare Advantage Plan instead. But be careful; in many cases your old supplemental insurance plan will no longer be available if you change your mind, and realize that Medicare Advantage isn't right for you.

If you enroll in Medicare supplemental insurance during open enrollment, you cannot be denied coverage based on a pre-existing condition. Open enrollment is a 6 month period that begins when you are 65 years old and have enrolled in Medicare Part A and Part B.

You will have to pay your Medicare supplemental insurance premiums every month, which will be a separate payment from your Medicare Part B premiums. Each policy covers only one person, so if you have a spouse interested in coverage he/she will need to get a separate policy.

Remember, any Medicare supplemental insurance policy is guaranteed renewable every year, regardless of the condition of your health. As long as you pay your premiums, the insurance company cannot cancel your coverage.