How to choose an Ohio Medigap Company

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As you may already know …

When it comes to Ohio Medicare supplemental insurance there are no real differences in offerings between companies for like plans. A particular plan letter from one company works identically to that same plan letter from any other Medicare supplemental insurance company. As an example, a standard plan F from let’s say Blue Cross Blue Shield works identically to a standard plan F from AARP (United Healthcare) or one of the Mutual of Omaha companies.

Other than there not being any difference in benefits from like plans (example plan F from AARP vs. plan F from United of Omaha) you will also see no difference in:

1) Doctors Networks – One of the really nice things about Medicare supplements is there are not different doctors network for each company. If a doctor accepts Ohio Medicare supplemental insurance he or she will accept any company’s Medicare supplement. This has mainly to do with the fact that Medicare processes the claim first and the claim then gets passed to the Ohio Medicare supplement insurance carrier to pay their part.

2) Claims Paying History – Because Medicare makes the decision on whether a claim will be paid the Medicare supplemental insurance companies cannot go against Medicare’s ruling. So, if Medicare approves the claim the supplement company just has to pay their part. They cannot go against Medicare’s decision. So, by virtue of the claims-filing process, all companies claims paying history is the same.

3) Over all Experience – When clients switch from a particular plan to that same plan from another company we let them know not to expect a change in service. The main difference they will see is a lower premium and a different companies logo on their Medicare supplement ID card.

The biggest changes you’ll likely want to consider are:

1) A.M. Best Rating of Insurer – You want to ensure you’re dealing with a company that is not in financial distress. Any company rated a B+ or better with AM Best is considered stable. AM Best is the primary organization that tracks the financial stability of insurance companies. (we usually recommend only A rated carriers in Ohio)

2) Medicare Supplement PRICES (of course) – THIS IS REALLY WHAT MATTERS. It really all comes down to getting the best rate for the plan you would like to have. It’s important to find an agent or agency that represents the top companies and can guide you through to finding the best rate from stable companies for the plan you prefer. There are also many factors to consider when looking at pricing and a good agent can help you understand the differences.