When choosing a Medicare supplement insurance plan you are also choosing an insurance company with which you may be dealing for some time. There are only ten standardized plans to choose from, and while all companies do not sell all of the plans, you can get the same plan from a number of different companies. The only difference will be the cost of the premium and the service you can get from the company and its agents or brokers.
Many people don’t get a choice in their insurance company
Many people have little choice when purchasing health insurance, whether a Medicare supplement plan or standard insurance. You may be in a group plan sponsored by your employer, for example. In that case the employer makes the choice of companies with which you will deal. If a former employer is helping to pay the cost of your Medicare supplement insurance, you may be in the same position. If you have some significant chronic health concerns, it may be difficult to change insurance providers, even if you are paying the premiums yourself.
You get to choose your Medicare Supplement company!
However, if you are choosing Medicare supplement insurance for the first time, you may have a real choice to make about the company you will be dealing with. In that case, you should shop not only for the plan that best suits your needs, and the best price for that plan, but also for the company that will be best to work with over time.
Choosing a Medicare Supplement Insurance Company – Financial Stability
Choosing an insurance company that is financially stable just makes sense. Many people not in the insurance industry are not aware that financial stability can affect premium prices down the road. There are ways to check on the financial stability of companies you will be dealing with. A simple way to ask your agent the company’s A.M. Best Rating. For more in depth information, you can check out a company’s ratings with the major financial ratings companies such as A.M. Best . They do regular ratings, and the Web sites include news stories about major changes and the reasons for them.
Choosing a Medicare Supplement Insurance Company- Customer Service
No one likes to call in to a company and deal with the automated system. When choosing a Medicare Supplement Insurance Company customer service is important. If the company is exceptionally good or exceptionally bad it may be possible to find that out just by Googling the name and checking out several stories. Otherwise, the big survey company JD Power and Associates does an annual survey of customer satisfaction with health insurance providers.
The best option is to use an insurance agent or broker that will handle your customer service issues for you! Here at Medicare Pathways we will handle all of your service issues as we are able. This allows you to work directly with one person in our office who will call the insurance company on your behalf and help resolve any issues. We do not have an automated line. When you call in you will always get a live person to help you!
The Next Step in Choosing a Medicare Supplement Insurance Company
A Benefit Advisor here at Medicare Pathways can help you pick the company that will meet your needs. We work with 30 different insurance companies and can help you review your options. Please click here to request a quote or call 1-866-466-9118 to speak with a Benefit Advisor now!