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Colorado Medicare Supplement Insurance

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Medicare Supplement Insurance Plans In Colorado

Colorado Medicare Supplement InsuranceWe offer Colorado Medicare supplement insurance direct. Using our independent brokerage, you can compare rates, renewals, ratings and more. We’ll help you find and enroll in the Medigap plan that best fits your needs & budget.

There are several companies to choose from and it’s hard to know which plans are best. We help our clients compare their options while also understanding the rules and regulations that can affect your now and in the future. We make the decision process easy.

Working With An Independent Broker

We work with all of the major insurance companies and several smaller ones as well. You don’t always get the best rates (and renewals) by choosing from only the big providers. It’s a matter of small and large carriers and finding the companies with a good track record on rates.

A lot of larger insurance companies sell Medicare supplements under different names. In other words, they might introduce a new line of business every couple of years to keep rates low. But that does not help with renewals. If your line closes – and no longer accepts new enrollments – chances are your rates will go up more quickly.

It’s also a matter of taking advantage of all discounts that are available. Many companies offer household and/or marital discounts. If you have a spouse who will soon be Medicare eligible at age 65, it’s important to let us know. And how you pay can make a difference too. Many carriers will lower your rates  if you pay by monthly bank draft or in one annual installment.

Our direct offerings include: Aetna, Blue Cross & Blue Shield, Bankers Fidelity, Cigna, Humana, Liberty Bankers, Manhattan Life, Medico, Mutual of Omaha, National Guardian, Sentinel Life, Thrivent, United American, United Healthcare AARP and several others.

Open Enrollment and The Annual Election Period

You usually only get one open enrollment window. That can be when your turn 65 and age into Medicare – or when you first enroll in Medicare Part B. In fact, your enrollment into Medicare Part B can be deferred beyond 65 if you have a large group employer plan. It can also happen when you are under age 65 if you’re eligible for Medicare due to disability.

The Annual Election Period (AEP) that occurs each year between October 15th and December 7th is not an open enrollment window for Medicare supplement insurance in Colorado. Yes, there are changes that can be made during this window, but it does not usually apply to Medicare supplements. In other words, once you choose your Medigap coverage, medical underwriting will likely be required if you want to switch later.

This is why we help our clients shop carefully during their 6 month open enrollment window. Some insurance companies have better reputations than others when it comes to rate increases & renewal history. It’s important to find a reliable company at onset – not just the cheapest or most well known.

The Most Popular Medigap Plans - F, G and N

There are ten modernized Medicare supplements to choose from in Colorado. It’s sometimes tempting to go for the most comprehensive one. But that can be a poor choice in the long run. It’s important to know which policies will offer the best value now and in the future.

Almost exclusively we see our clients ask about (and enroll in) Plans F, G and N. Plan F is the most comprehensive as it fills in all of the gaps in Medicare, but it does not always offer the best value. When you do the math, oftentimes you are money ahead by selecting either Plan G or Plan N. In other words, the lower premiums can more than make up for the benefits these two plans do not cover.

And Plan F will no longer be for sale for in 2020 for those who are new to Medicare. When a supplement closes enrollment, typically the rates will go higher as the pool trends older and perhaps less healthy. As a result, healthy consumers will leave for less expensive coverage. This makes it worse. It may be better to have a policy in 2020 that is still open to all – like Plans G and N.

Learning About Your Medicare Options

Medigap Plans In COWhen you are new to Medicare, the whole process can be overwhelming. It’s a good idea to talk with friends & family who have already made their decisions.

It’s also a good idea to speak with a couple of independent agents. You don’t know what you don’t know and those around you may not have made the most economical choice.

Whether you go with a Medicare supplement or a Medicare Advantage plan, you need to know what your choice now means for the future. Medicare is full of rules, regulations and timelines. One poor choice now can cause difficulty down the road.

Unexpected out of pocket costs or reduced access to the doctors and hospitals are just a few of the concerns we hear about from consumers. And there are late enrollment penalties that can last a lifetime as well. That’s why it’s so important to talk with those who do this for a living. We can help you better understand your options and any future repercussions – both good and bad.

Colorado also has a consumer facing website here where you can learn about your options as well. So start early, talk to everyone you know (including an agent or two) and you’ll be able to make a good decision. That way you won’t get caught off guard later.

Our Independent Medicare Supplement Insurance Agency

Our independent brokerage specializes in Medicare insurance plans. We work with Medicare supplements, Advantage and Part D drug plans. When you contact us, it’s like calling all of the best insurance companies at once. And by rule, your rates will not be affected if you use our enrollment services. We offer all policies at the direct rate. It’s the same as if you called each insurance company on your own.

We are a one-stop shop for all of your insurance needs. Contact us today for more information.