Save Money with Medicare Supplement Household Discounts and more!

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New to Medicare?

If, yes, you probably are already on the hunt of buying the perfect supplement insurance plan to go with your Medicare.

You are not alone. A lot of people are turning to a Medicare supplement plan to pay for the healthcare costs that Medicare don’t cover. Because this kind of policy is an additional expense to your budget, I understand if you are looking for ways how you can save money in buying it.

With saving money in mind, this article will help you find ways how you can obtain the best deals. Learn about Medicare supplement household discounts and more!

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What is a Medicare Supplement Plan?

Medicare supplement plans are also called Medigap. Medigap plans are additional health insurance that works with Original Medicare. It works by paying the out-of-pocket expenses (deductibles, copays coinsurance etc.) left or not paid by Medicare. Private health insurance companies sell Medigap policies.

If there’s anything you have to remember about Medigap, it is that plans are standardized.  Same letter plan provides the same benefit no matter which insurance company provides it.

FreeMedsuppQuotes have a Medigap comparison chart that you can use to compare the ten plans easily. It is important to compare first so you’ll know which of the ten answers your healthcare needs. Once you know which plan provides you the best coverage, shop around different companies to find who offers the plan at the best price.

 

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Medicare Supplement Household Discount and Other Ways to Save On Medigap Premiums

 

As you shop around, provided by various circumstances, you can obtain discounts and discover ways to save on Medigap premiums. Here are some of them:

1.     Medigap household discount or hh discount

If you and your spouse start to gather quotes, you will hear about household discounts.

 

What is a hh discount?

It is the discount that you will get or a percentage off your premiums if you and your spouse both sign up to a Medigap policy with the same company.

 

Rules and requirements may vary depending on the insurance carriers and state. There are companies that offer a household discount provided that you and your spouse signup at the same time, while others are okay even if the other spouse sign up at a later time.

 

Discount usually ranges from 0% to 12%.

 

What companies offer Medicare supplement insurance hh discount?

Mutual of Omaha, Blue Shield CA, Anthem, and Cigna are some of the companies that offer Medigap household discount.

 

If you are curious, we can provide you quotes from Medigap insurance companies mentioned above as well as other carriers at no charge. Also, our licensed insurance agents are Medigap experts that can discuss the quotes with you and help you find household discounts from a reputable company. You can take this step by just sending us a request through our quotes form.

 

Should the household discount determine which company I should choose?

 

No. One company may give you a huge Medicare supplement insurance discount, but it might offer the policy at a higher monthly premium. While other company may give you a lower hh discount, the premium of their policy is much cheaper than the other company.

 

Factor in the two (cost of premium – hh discount) together and see which of them is reasonable in the end.

 

2.     Underwriting discounts

 

Rare kind of discount but it wouldn’t hurt to inquire about it. There are Medicare supplement insurance carriers that offer premium discounts based on underwriting. The level of your qualification will determine if your premium will be lower.

 

3.     Marital discounts

Marital discounts are offered to married applicants if they both sign up for a Medigap policy.

 

This is created because actuaries determined that married people tend to have slightly few medical expenses compared to nonmarried people.

 

 

4.     How you will pay for premium

 

Most companies offer discounts if you choose to pay your premiums annually and or by bank draft.

 

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More Money-Saving Ways to a Cheaper Medigap Premium

 

1.     Ask our experts how!

One of the best ways to get discounts is to ask for it straight up! Either you are working with an agent, a broker or agency or directly with the insurance company, you can straightforwardly ask them how you can get discounts and ways how you can save on premiums.

 

One of the benefits of requesting Medigap quotes from us is that one of our licensed insurance agents may reach out to you and discuss the options with you. With that, you can explore ways how you can save on premiums and find the best deals in Medigap.

 

2.     Consider other Medigap companies.

 

Don’t focus only on popular brands of Medigap insurance companies. Know that there are also other highly rated insurance companies that offer Medigap policies. Explore non-popular companies and ask your broker to provide you quotes of all the insurance provider in your area.

 

3.     If you are a snowbird, compare premiums by state.

 

If you stay in more than one state, it is wise to also compare Medigap premiums by state. Find out which state offers the Medigap plan at a lower premium.

4.     Utilize the state rules!

 

If you live in a state that will let you switch Medigap plans without the need to undergo medical underwriting, it means you’ll have an annual opportunity to change carrier whichever provide you with the best rate.

 

5.     Scrutinize your bill!

Chances are there are bills that you should not be paying because you have Medigap plan. Whenever you receive a bill, take time to review it before paying. Because if you have already paid it, you might have a hard time getting the refund.

 

6.     Consider Plan G

Medicare supplement plan F may not always the best plan for everyone., especially now that it is going away in 2020. Consider getting Medigap plan G instead. The amount you’ll pay for the Medicare Part B deductible plus the Plan G’s premium might still be cheaper than paying for Plan F premium.

 

7.     Keep yourself healthy

Common sense will tell you that keeping yourself healthy is a great way to save money. If you are healthy you won’t need much medical services or attention, and would not need a plan that provides a lot of benefits. Comprehensive Medicare insurance options provide the most benefits, but it also mean that it has expensive premiums.

 

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