Common Medicare Myths

If you saw a Benjamin Franklin $100 bill laying on the sidewalk, would you pick it up?  If someone offered to pay your groceries for 2 months, would you take them up on that?  If you had to fill out a coupon to receive six months of free gas for your car, would you send it in?  Most people would, but most people never price compare their Medicare Supplement to save $100, $500, $1000 a year.  One of the most common excuses and common Medicare myths is that it is not Annual Election Period (AEP), which is Oct 15th–Dec 7th, so ‘I can’t do anything.’

Common Medicare Myths

cms-logo-smallA common Medicare Myth I hear everyday is that you can’t change your Supplement except during Annual Election.  That is true about Medicare Part D plans.  Unless you have a special election, you cannot change your Medicare prescription drug plan until Oct 15th.  The same applies to Medicare Part C/Medicare Advantage.  You cannot change from one company or plan to another except from Oct 15–Dec 7th.  Those are the CMS (Center for Medicare & Medicaid Services) rule.

Change Medicare Supplement Any Time

That, however, is not the case for Medicare Supplements.  You can change your supplement every month if you wish.  A Medicare Supplement is a contract with a private insurance company that fills in the gaps in your Medicare coverage.  It pays the Part A hospital deductible.  It pays some or all of the 20% co-insurance under Part B.  All you have to do to change supplements is answer some health questions and fill out the forms.  That’s it.

Compare Pricing

Change-GraphicCompare prices.  It takes less than 5 minutes.  I do quotes for people all day.  You can know in seconds whether you are overpaying for the exact same coverage, and you can do something about it.  You can change right now.  You can save $300, $500, $1000 a year right now.  It is especially appropriate to check after you receive a rate increase from your insurance company.  You aren’t stuck.  Pick up the phone and find out your options.

This is still the land of the free, and in the Medicare Supplement world you are free to compare and change.  Don’t be fooled by one of the common Medicare myths.  You can make changes to your supplement at any time.  Compare prices.  If you would stop, bend over, and pick of a Benjamin Franklin laying on the sidewalk.  You can take the time to check the supplement rates and even fill out an application 402-614-3389.

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