how to shop med supps

Oct 9, 2007

  1. honestagent
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    honestagent Guru

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    I am told by various fmos certain companies are going to be cheapest in my state. Yet, when I go on line to Medicare.gov and type in the data, most of the companies they suggested do not appear. I am super confused as to which companies to contract with for med supps. I only want a couple. I don't want nor need 7 or more. Can somebody please help?

    What is the best, most effective way to shop Med supp rates per state and county?

    Also, does anybody know of a decent carrier whose underwriting is not so stringent for seniors 85 and over 85 years of age?

    Thank you in advance.
     
  2. Winter_123
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    Winter_123 Guru

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    In my state I just go to the bureau of insurance website and all the med supp carriers and their rates are listed. See if there is something like that in your state.

    Winter
     
  3. IFS_Edge
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    IFS_Edge Expert

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    Winter,
    Wow. Thanks so much, I have been looking for this information. I went in the Texas Department of Insurance, then consumer, then med supp rates, and I can each different plan and see which is the best rate by age.
    Thank you. Thank you.
    Laura
     
  4. GreenSky
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    GreenSky Guru

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    Laura:

    I believe that American Continental has the lowest prices in Texas as they were only approved about a month or so ago. You can contract directly with them.

    Rick
     
  5. Superchief
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    Yes, American Continental. New Era is in there real low too. American Continental makes me nervous though. They pay full commissions on over 80. Surely that's a recipe for big rate increases.
     
  6. Cenla Agent
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    Cenla Agent Guru

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    I'm not aware that you can get this kind of Med Supp information from the Medicare website. Remember, supps are not part of Medicare the way MA plans are. Are you perhaps looking in their engine that searches for MA plans by area instead?

    Again, some states have this information easily available from the state department of insurance.

    Most carriers probably won't write for over 85 or if they do, it will be at a much lower commission. AARP is probably worth looking at in this case.
     
  7. Krono
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    Krono Super Genius

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    I just got appointed w/American Continental...took about 4 biz days.

    Looking at their rates, they don't seem to be the lowest in TX. For example, a 'D' plan from A.C. is over $1,600/year. According to the TDI website here, there are several companies that offer the 'D' plan for under $1,000/year (Pennsylvania Life, Constitution Life, Lincoln Heritage, Loyal American, Sierra, Standard Life & United Teachers).

    I am new to medigap plans...maybe I am missing something?
     
    Krono, Oct 10, 2007
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  8. Frank Stastny
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    Frank Stastny Guru

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    American Continental has three premium categories in TX based on which zip code the person lives in. Premiums for a female, non smoker, turning 65, Plan D, depending on which zip code she might live in, are:

    $91.30
    $105.71
    $114.29

    Be sure to check the premiums in the different zip codes for the companies you listed above.
     
  9. Krono
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    Krono Super Genius

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    Thanks Frank. I should have said that the pricing I previously gave was for a male, 65, in the most expensive zip code.

    So...are any of the companies I listed (Pennsylvania Life, Constitution Life, Lincoln Heritage, Loyal American, Sierra, Standard Life & United Teachers) worth a darn? Does anyone here write w/them?
     
    Krono, Oct 10, 2007
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  10. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    Those prices you quoted could also be Select plans. If it were me I would choose Loyal American or American continental. They have the newest book of business. Also, if Penn Life is that low then you should take a look at thier sister company Marquette.They will probably be cheaper and also a newer book of biz.
     
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