Frequently Asked Questions

Will my premiums increase?

Can the insurance company increase just my premiums?

What are "Excess Charges"?

How do I know if my doctors "Accept Assignment"?

I kept the coverage that was provided by my former employer. Is this a Medicare Supplement Policy?

Everyone says that I need Plan "F". Do I really need to pay the extra money for Plan "F"?

Is Plan "C" a good choice?

How do I choose a good insurance agent?

What is the difference in Medicare Supplement Insurance and Medigap Insurance?
They are both the same. These are just different terms used to refer to the same insurance coverage. (Back to top.)

Will my premiums increase?
Every company will eventually have premium increases, however, some have fewer and smaller increased than others. Premium increases are directly related to the amount of claims that are filed. Usually the companies that have the fewest health questions are the ones that have the biggest premium increases. The easier the questions are, the more likely the company is insuring people with health problems who are going to have a large amount of claims. (Back to top.)

Can the insurance company increase just my premiums?
No. When insurance companies increase premiums on Medicare Supplement policies they must increase all policies in each category equally. (Back to top.)

What are "Excess Charges"?
Excess Charges only apply to doctors who do not Accept Assignment. Doctors who do not Accept Assignment can add no more than 15% to the amount that Medicare approves. If your doctors Accept Assignment then you may not need one of the more expensive policies that will pay for Excess Charges. (Back to top.)

How do I know if my doctors Accept Assignment?
Call your doctors office and ask if the doctor Accepts Assignment. This is very important information to know before you purchase a Medicare Supplement policy. Knowing this information could save you several hundred dollars in premium. (Back to top.)

I kept the coverage that was provided by my former employer. Is this a Medicare Supplement Policy?
No. The only "Medicare Supplement" policies are the approved Policies that are designated "A" through "J". They can only be purchased through an insurance company authorized to sell Medicare Supplement Policies in Missouri. All other types of coverage you may have are policies that "Supplement Medicare" and are subject to changes in benefits and in most cases can be cancelled at any time by the company. (Back to top.)

Everyone says that I need Plan "F". Do I really need to pay the extra money for Plan "F"?
Plan "F" is usually more expensive because it pays 100% of Excess Charges. If your doctors Accept Assignment then you may not need to spend the extra money for Plan "F". Plan "D" may be a better choice for you. Plan "D" also has a $1,600.00 "At Home Recovery Services" benefit that is not provided by Plan "F". (Back to top.)

Is Plan "C" a good choice?
It can be if you prefer not to pay the once a year Medicare Part B Deductible of $100.00. However, you may find when comparing Plan "C" with other plans available that you will be paying well over an additional $100.00 per year in premium just to have your Medicare Part B Deductible paid by the insurance company. Again, Plan D may be a better choice for you. (Back to top.)

How do I choose a good insurance agent?
It has been said that your insurance policy is only as good as your agent. Selecting an agent is just as important as selecting a company and a policy. Look for the following when selecting an agent:

An agent who helps you make a well informed decision, not an emotional decision by using "high pressure" or "scare tactics".

One who explains all the details about the coverage provided by the different policies so you have a clear understanding of the benefits you will receive.

Is not in a hurry to have you sign the application.

Makes good eye contact when speaking to you and answering your questions.

Speaks slowly and is concerned that you thoroughly understand the answers to all of your questions.

Has your best interest in mind, not the amount of commission he/she will earn.

Has a toll-free phone number and returns your calls promptly.

Remember, every agent receives a small percentage of every premium you pay. That means that you are paying a portion of that agent's income. (Doesn't that make you the "boss"?) If that agent is not working in your best interest or not promptly returning your phone calls then why would you want to continue paying him/her? (Back to top.)