A Medicare Supplement Insurance Plan Will Secure the Golden Years


Good day, everyone. We’ve highlighted the importance of purchasing a Medicare Supplement Insurance, particularly for fathers, on our last post, Retirement Essential: Medicare Supplemental Insurance. Also called Medigap, Medicare Supplements help beneficiaries pay for the “gaps” (out-of-pocket health care costs like deductibles, copayments, and coinsurance charges) found in Original Medicare Plans.

We’d like to focus more on other benefits that baby boomers can get from this type of insurance coverage. We hope that through the pointers we’ll be sharing today that more people will be able to enjoy brighter golden years.

Closing the Gaps Lead Towards a Brighter Future

A Commonwealth Fund report revealed how frustrating the gaps are for most Medicare policyholders. 15 million Medicare beneficiaries (or one-fourth of the total 56 million policyholders in the country, as of last year) spent more than 20% of their household income on insurance premiums and various out-of-pocket health care costs last 2016.

With an average of $3,024 per year spent on health care costs alone, the stifling figure is magnified for beneficiaries with health problems or low income. Making ends meet, especially during the twilight years, may be a challenge for boomers who have always planned for these years to be a moment to just kick back and relax!

And this is why learning more and purchasing a Supplemental Medicare Insurance Plan is highly suggested. Aside from covering the massive financial gaps caused by these out-of-pocket expenses, a Medigap policy will also provide the necessary medical attention that a boomer deserves. Identifying and closing the gaps with Medicare Supplements is akin to creating a safety net for the retirement years.

Choose a Plan; Select a Solution

Medicare Supplement Policies also provide boomers an extra level of control and independence when planning for their future. With then standardized Medigap plans to choose from (which are summarized in this useful FreeMedSuppQuotes article, Everything You Need to Know About Medicare Supplemental Plans), applicants are recommended to first identify their main retirement issues and select a policy that will best address their problems. Additionally, flexibility and the power to choose are also practiced when choosing which insurance company to buy coverage from. Applicants also have the option to compare Medigap costs from different agents, allowing one to shop and check the market for the best policies available.

Some Simple Medigap Shopping Tips

Of course, looking around the market for the perfect Medicare Supplement to suit your needs may be overwhelming. And this is why we’d like to share some useful shopping tips, to help you make a sound purchase for your future:


Do not be afraid to ask questions. You need all the help you can get when understanding insurance coverage. Aside from insurance agents, consult with friends and family as well. Who knows, you may know someone who is already enrolled in a Medicare Supplemental Plan – which will allow you to get firsthand information on how a policy works!


As mentioned above, applicants have the option to compare Medicare costs among different agents. Practice this not only when searching for a budget based on price alone – comparing policies should also be done for you to find out if you’ll get benefits that will work for you.

On Paying

Never pay with cash when buying a Medicare Supplemental Plan. Make sure that the check you’ll use to pay for a policy is made out to the private insurance agent – not the agent!

Lastly, we’d like to remind you to request for a Medicare Supplemental quote today. Doing so will give you a clearer idea of what needs to be done to pay for your coverage. And don’t worry – free Medigap quotes are available online, granting you the convenience to get (and compare) quotes with other agents and insurance companies.

We hope that the pointers above will help you secure a fantastic future. Please leave a comment below if you need to learn anything more about Medicare Supplement Insurance Plans.

by | June 23, 2017 | No Comments | Tags : baby boomers medicare supplemental insurance medigap retirement supplement insurance

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