Medicare Supplemental Insurance - Where Do You Start?First off, there is no "Medicare office". If you took social security early around the age of 62, chances are you're already in their system, and you can just call your local social security office to start your Medicare Part B. If you didn't take social security early, you want to contact your local office (it's best to go early in the morning) and tell them you want to sign up for Medicare Part B once you turn 65. Some might be shocked at the cost of Medicare Part B (around $100 a month), on top of that you will be shopping for a Medicare Supplement Plan.
First steps to applying for a Medicare Supplemental Insurance Plan
Medicare part A & B are called original Medicare. You will receive a red, white, and blue card that will contain the dates when you started A and when you started B. You will want to keep this card safe, because you will be asked for this every time you want to see a doctor. As said before, in addition to Medicare A & B, you will also purchase a Supplemental Plan (also called "Medigap", or "Medicare Supplement") to cover the holes in Parts A & B. Prices vary from plan to plan and there's over 10 plans to choose from. Prices can also change from state to state, some states plans are more expensive than others. Those of you that move from state to state during different times of the year, you might consider residency in one state because of this.
I got Medicare Part B, Now What?
The nicest thing about Medicare Supplements (probably the most beneficial to you) is that all the plans are standardized by the government. What does that mean to you? That means that suppose you buy the most popular plan in America; a Medicare Supplement Plan F. It is going to be identical in benefits compared to every company on the market. So you buy a plan from Blue Cross Blue Shield, or United of Omaha, Humana, or any company for that matter, it will be identical in benefits offered. Don't you wish you could say that about your phone bill? Who wouldn't love that. The government has standardized the plans for the past few years, and it has weeded out a lot of fraud, which is truly the most beneficial aspect about applying for supplements.
Now, not everything stays the same from company to company. The service those companies offer will differ, and how fast your rates increase. Your rates will go up, this is inevitable. There are a lot of agents out there that are unwilling to tell you this, just to get a sale. There isn't a lot of good news on this subject, other than you have plenty of options to choose from, and you are able to switch companies if you feel it's beneficial to you.
In conclusion, to answer the question "where to start", your steps should look like this:
- Get signed up for Medicare Part B.
- Figure out your budget.
- Research different plans to see which one suits you and or your spouse the best.
- Select a plan.
- Find a company who offers the plan, and submit your application.
Got it! Sign me up!
If you think you're ready to apply for a plan, go ahead and enter your zip code above and hit "get quotes now". Our quoting system will guide you through the process of finding the lowest rates available with the best company.