How to Buy a Medicare Supplement

Before starting, you should have an idea of what kind of Medigap-related benefits you may need (for example, hospitalization and foreign emergency care. After gaining a basic understanding of your needs, the buying a Medicare Supplement will follow these basic steps:

• Step 1: Research the Various Medigap Plans (A-N)
• Step 2: Search for Quotes – online or with the help of an agent
• Step 3: Compare Quotes between Insurance Companies
• Step 4: Select a Plan and Insurance Company
• Step 5: Apply for Coverage

Additional Tips

• While Medicare Supplement plans are provided by private insurance companies, they are generally sold with assistance with a licensed in-house agent (working directly for the insurance company) or third-party broker.
• MedicareSupplement.com recommends working with a licensed insurance agent that specializes in Medicare Supplement and Medicare Advantage. The agent’s role is to understand your needs, present you with plan options, to explain the benefits, help you to choose a plan, and then assist in the application process.
• Medicare Supplement plans are provided by private insurance companies which must be licensed by your state’s Department of Insurance. These plans must be clearly identified as a “Medicare Supplement Plan”.
• Interested consumers will need to apply for coverage with the insurance company.         

When is the Test Time to Buy?
The best time to buy a Medigap policy is during a Medigap open enrollment period because companies must sell you any plan they offer without regard to pre-existing conditions.

Finding Medigap Plan Quotes
You may search for quotes from companies licensed to sell Medicare Supplement plans in your state. Many agency websites have quoting engines that allow you to see your plan options online. In addition, you may also visit the insurance company’s website directly to search for quotes.

To simplify steps for our users, MedicareSupplement.com maintains a directory of websites which can provide you with Medicare Supplement quotes in your state.