A little known fact for some odd reason is that if you take the time to compare prices between insurers and how they price their Medicare supplements you will find a deal. It's the plain honest to goodness truth. You actually are able to save money on Medicare supplements.
So if we are able to save on supplements, then how come we always seem to be paying higher prices? This is in part due to the fact that many people supplement shop for brand name health care providers - Blue Shield, AARP and others. If you buy from brand name health care insurance providers, you pay a higher price.
Take some time to find out what smaller carriers are able to offer you. The supplements themselves will not differ in content from one insurer to another, because the law mandates that. However the prices do vary from carrier to carrier. This isn't to say that brand name insurance carrier shopping is bad; it just may cost you more to do that.
Psssst! Here's a bit of a tip about Medicare supplement shopping. Stick to smaller health insurance carriers that act as brokers for multiple insurance companies. This is where you will find some sweet deals. While you are at it, make it a point to talk to your local insurance agent who will have even more insider information for you to capitalize on.
One thing to keep in mind is this - while you may only shop to change carriers once a year (around about the time the new year starts) you are able to change carriers just about any time during the year if you find a better plan. However, there are some exceptions to this, and you will need to talk to an insurance agent to find out what those are so you are able to avoid pitfalls.
In general though, if you shop small, shop no-name brand and compare judiciously, you will save money on your Medicare supplements.
About the Author
Richard Cantu is with Texas Health and Life, a Texas health insurance and Texas life insurance agency in Texas. To learn more, visit http://www.texashealthandlife.com.
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