Medicare Supplement Plans 2018: Some mistakes to avoid

There are various types of Medigap plans for 2018 available with the providers. It is necessary to select the best one that suits the specific needs and requirements. Hence, adequate research is to be undertaken. One such plan that is popularly selected is Medicare Advantage Plan or Medicare Part C. It is important to know the different options available discussing with the industry experts is sure to help select the most appropriate and suitable plan.

Some mistakes to avoid when selecting Medicare Supplement Plans 2018

If the right plan is not selected, then there are chances of mistakes being committed, which will prove to be costly and also deny the person of crucial medication and physician visits. Therefore, going through the common mistakes committed by others can help choose the best available option.

Mistake 1: Who is being dealt with: Working with independent career agent or captive insurance agent. The former are stated as independent and still if an application is written with another carrier since it was perfect for the beneficiary, then his contract could be terminated. If the agent’s lead source is lost, then what incentive is required to be non partial?

Mistake 2: The other mistake is to deal with those agents not certified to promote all types of Medicare Supplement Plans 2018. They are given permission to market just few Medigap supplement plans that do not require certification.

Solution: It will be really useful to select a knowledgeable and independent insurance agent, who represents multiple insurance carriers. This is because, they will understand the strengths and weaknesses of all plans and accordingly help the clients to make educated decisions. Not having any kind of allegiance to any specific company, the insurance carriers provide them with compensation. Select a certified Medicare agent authorized to market Part D, C and Medigap plans, having additional oversight and training.

Mistake 2: Select Medicare Advantage plan which needs the person to have approval of the insurance provider prior to having test/procedure. Solution: While comparing plans, choose Summary of Benefits. It is to be published by all carriers and they are to be comparable and alike.

Mistake 3: Selecting a plan since there is desired PPO and not HMO plan.

Solution: The common misconception with PPO plan is, it is possible to visit any facility/doctor preferred. PPO plans do have network of facilities/doctors that needs to be visited for lower costs. The difference between HMO and PPO is referral is not required to visit a specialist with PPO, but with HMO, referral is needed.  Checking out the above mistakes is sure to help avoid them when selecting a Medicare plan.