Compare the lowest Medicare supplement insurance rates in North Carolina with our independent agency. With us, you’re viewing the direct rates with every company.
We represent all highly-rated supplemental insurance providers in NC. Whether you want to compare rates or discuss the differences between Medicare insurance plans, we can help.
Our brokerage represents all carriers, including Aetna, Assured Life, American Continental, Anthem Blue Cross, Cigna, Central States Indemnity, GTL, Humana, Liberty Bankers, Manhattan Life, Medico, Mutual of Omaha, Sentinel, United American, United Healthcare AARP, and many others.
The first thing to know is Medicare supplements are standardized. A Plan G is a Plan G no matter which company you choose. Insurance companies cannot change the benefits, but they do charge different rates. Some companies include features like Silver Sneakers, but your doctor and hospital coverage does not differ.
And in almost all cases, your supplement does not determine where you can go and who you can see for care. If your doctor and/or hospital accepts Medicare, they will accept any supplement you provide to them. An Aetna supplement is no different than a Humana supplement. Your network is always Medicare.
And Medicare supplement insurance prices are controlled by law. A Plan G with Mutual of Omaha will cost the exact same no matter your source – even if you call the company directly. Agents cannot adjust the prices in order to undercut one another. Prices will vary based on your gender, age, zip code, marital status, and tobacco use, but we all must offer the same rates to the same individual.
It’s a good idea to use an independent agent to shop for Medigap quotes. Your premiums will not change and you get the added benefit of viewing several plans at once. We will also discuss ratings, rate renewals, and other important factors that are more readily available to independent agents.
The most popular Medicare supplement insurance policies are Plans F, G, and N. One size does not fit all, however. It’s a balance between monthly premiums and benefits. For example, Plan G can offer more savings over Plan F when comparing them more closely.
It’s important to understand what each plan covers and which benefits you receive for the price. And some plans tend to increase rates faster than others. Plans like F & C which are now unavailable to new enrollees will likely have larger increases than Plans G and N.
And it’s important to know Medicare deductibles, coinsurance, and copayments can change each year as determined by the Centers for Medicare and Medicaid Services. When these numbers change, it automatically affects all plans – both old and new. This helps to explain why supplemental rates increase year over year.
Finally, you should know about the changes that occurred in 2020. By rule, new Medicare beneficiaries in 2020 cannot purchase Plans F, C, and High Deductible Plan F. Existing beneficiaries can keep these plans (and even shop for new ones), but not those who are new to Medicare. This means Plans G and D will become the new Guaranteed Issue policies like Plans F & C once were.
Furthermore, High Deductible Plan G now has replaced High Deductible Plan F. This is because all plans that cover the Part B deductible will no longer be offered per Congressional law.
What does all of that mean for you? Well, it may end up that Plan N is the most stable plan in terms of rates and rate increases.
Most consumers factor in their budget, health, and appetite for out-of-pocket costs. While someone might purchase a High Deductible Plan G to keep their premiums low, someone else might purchase Plan N or G so for more comprehensive.
The point is choosing a Medigap plan is subjective. What’s good for you may not be as good for someone else. In many ways, you’re trying to predict the future – which is difficult. We know premiums will go up each year and some plans offer better value, but there is no perfect plan. We can only get close to perfect based on what we know about your health and budget now.
The most common mistake consumers make is waiting to purchase a Medicare supplement plan until after their open enrollment window has expired. Should you miss your open enrollment window, you can be turned down for coverage due to medical underwriting requirements. Some people can defer Medicare Part B and wait to enroll in a supplement after 65 because they have group health insurance, but most others need to act at age 65 – or when first electing Medicare Part B.
That is to say, medical underwriting can be a factor outside of your one-time open enrollment window. Many people confuse the yearly Annual Election Period (AEP) with open enrollment. They are completely different and you can be turned down for supplemental insurance during the AEP window due to poor health.
It’s important to know that Medicare supplements, by rule, do not include Part D drug coverage. While you may be able to purchase a Supplement and Part D from the same insurance company, they will always be separate policies. (Medicare Advantage plans often do include Part D coverage.)
Should you choose not to enroll in a Part D plan during your open enrollment window (and you don’t have creditable drug coverage elsewhere) you can be assessed a late enrollment penalty. The penalty is for life, so it’s wise to enroll in a plan when starting Medicare Part B. For those on limited or no Rx’s – we have very inexpensive plans that avoid the late enrollment penalty.
The good news: When you’re new to Medicare Part B and in your open enrollment window – or losing creditable coverage – you can purchase a Medicare supplement in North Carolina when under age 65. Many other states don’t allow this enrollment.
In most areas, Plans A, B, G, D, and High Deductible G are available. Insurance companies are allowed to charge higher rates for those under 65, however. It’s wise to shop around as rates will vary widely. Medicare Advantage plans can also be a good choice for those under 65 as their monthly premiums are much lower – sometimes even $0. We can help you compare all of your options.
We are an independent agency offering Medicare supplement insurance in North Carolina direct. We can help you compare plans, quotes, rates, benefits, and renewal history with several carriers. There are never any additional fees or costs to place your business with us.
Contact us to learn more today!