5 Ways to Save Money with Medicare Supplements

5 Ways to Save Money with Medicare Supplements

When you are new to Medicare, shopping for Medicare supplement plans can be a confusing experience. Here are some way to help save you time and money when you are looking for coverage. 

1) Do some basic research.

Choosing the right supplement plan is an important decision. Take the time and do your homework. Understand how Original Medicare works with a supplement plan. Attend an informational Medicare 101 Workshop online or in person. Learn about Original Medicare and your options before you start shopping for a plan. 

2) Use a local and trusted Medicare Insurance Agent. 

It is always a good idea to compare several options with multiple companies. Visiting with a local independent agent is a great way to explore multiple companies and the plan options they offer. A local agent that specializes in Medicare can also assist with any issues that may arise after you have enrolled in a supplement plan and help you explore money saving options in the future. 

3) Ask questions!

The most expensive plan does not mean it is the better plan. Medicare supplement coverage is standardized but there can be some big differences when it comes to what you pay in premium each month. Some plans may offer household or marital discounts. Other plans may include added benefits to cover you gym membership. If you do not ask questions, you may end up paying too much each month for less!

4) Don’t forget your Part D coverage.

When you enroll into a Medicare supplement plan, you will still need prescription coverage known as Medicare Part D. You do not need to enroll into a prescription plan offered by the same company you chose for your Medicare supplement. You can choose another plan! Visit with your local Medicare agent to review Medicare Part D coverage. 

5) Do not wait until the last minute!

Original Medicare is complex and for many, overwhelming. Do not wait until the last minute to start exploring your options. It is recommended that you begin this process at least 3 months prior to age 65. Making the proper enrollment decisions can save you thousands of dollars over your lifetime.