Why might I want a Medicare Supplement?

Original Medicare (Part A and/or Part B) does not cover all health care costs. A Medicare supplement can help to pay for these gaps in the coverage of Original Medicare, such as copays, coinsurance, and deductibles.

What is a Medicare Supplement or Medigap policy?

Medicare Supplement Insurance is private insurance that covers costs that Original Medicare does not cover. In Illinois, companies that sell Medicare Supplements may only sell you one of the standardized plans (lettered A through N). Get more information about Medigap plans.

A standardized plan must have the same basic benefits, regardless of which insurance company is selling it. For example, a Medicare Supplement Plan F from one company must offer the same benefits as a Medicare Supplement Plan F from another company. The difference between Medicare Supplements sold by different insurance companies is generally only in the cost.

When is the Medicare Supplement open enrollment period?

The six month period beginning with the month when you are both age 65 or older and covered under Medicare Part B.

Why is the open enrollment period important?

During this time, you are able to purchase any Medicare Supplement policy available in Illinois without having to go through medical underwriting.

After the six month open enrollment period (with a few exceptions) companies that sell Medicare Supplement Insurance are allowed to use medical underwriting and may deny you coverage or charge you more for a policy if you have health problems.

Can I ever switch Medicare Supplements?

Yes. However, unless you have a guaranteed issue right (see Choosing a Medigap Policy for information on guaranteed issue rights), you will probably have to go through medical underwriting to be allowed to switch Medicare Supplement policies or buy from a different company.

There are several reasons why you may wish to look into replacing your current Medicare Supplement policy: if you would like to switch to another standardized lettered plan, if you are unhappy with your current insurance company, or if your rates are going up and you would like to find a less expensive policy. Your agent can help you look into your options, including preliminary medical underwriting to assist you in making the best choice for your situation.

How can I get a quote for a Medicare Supplement policy?
You can get a quick quote from the form in the top picture on this page, submit the request form below, or call 708-804-0300 between 8:00 AM and 7:00 PM Central Time Monday through Friday to speak with a licensed agent.

Will my insurance cost more if I buy through an agent?
No. The cost is the same whether you buy through an agent or without one. If you place your business through an agent, that agent is paid a commission by the insurance company. Whether you purchase through an agent or directly through an insurance company, the cost to you will be the same.

How much does your service cost?
Our service is free to our clients. Our agents are paid by commissions from the insurance companies.

Can I get a better price on the same policy through a different agent?
No. The cost for the same policy will be the same regardless of which agent you use or if you purchase directly from an insurance company.

Why are you independent agents?
No one insurance company has "the best" product for every client's situation. As independent agents, we are able to compare many different insurance companies' products to find a good match for each client in his or her specific situation.

Why might I want to work with an independent agent?
The independent agents of Benefit Consultants - Midwest represent many Medicare Supplement companies and will comparison shop those companies with you to find the coverage and price that best fits your needs. The independent agent's work does not end with the sale. Once a year, or more frequently if coverage or prices change, your agent will work with you to evaluate your options based on any changes.

Can my Medicare Supplement coverage be terminated?
You have strong governmental protection against your coverage being terminated. In general, insurance companies can only terminate your coverage if you fail to pay the premiums within the payment grace period, if you made a material misrepresentation or omission on your application, or if the insurance company becomes insolvent.

If the coverage from company to company is the same, why are the prices so different?
There are several reasons for the differences in price. Different pricing systems (issue age, attained age, community), the age of a company's risk pool, and other factors all contribute to pricing differences. Regardless of the reasons, be assured that a particular lettered plan provides the exact same coverage no matter which company you purchase it from.

If I change Medicare Supplement policies can I keep my doctor?
If your doctor accepts Medicare, you should be able to keep him or her. Medicare Supplements (with the exception of Medicare Select) do not have networks.

How long does it take to apply for a Medicare Supplement?
The application itself takes about 20 minutes to complete. Once your agent submits it, normal underwriting can take two or three weeks.

Can I ever switch Medicare Supplement policies?
Yes. However, unless you have a guaranteed issue right (see Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare for information on guaranteed issue rights), you will probably have to go through medical underwriting to be allowed to switch Medicare Supplement policies or buy from a different company.

There are several reasons why you may wish to look into replacing your current Medicare Supplement policy: if you would like to switch to another standardized lettered plan, if you are unhappy with your current insurance company, or if your rates are going up and you would like to find a less expensive policy. Your agent can help you look into your options, including preliminary medical underwriting to assist you in making the best choice for your situation.

Get Advice From Medicare Supplement Experts
Help is free and you can’t find better prices anywhere.
*Name:
*Phone:
*Email:
Your Information is always kept completely private.