New Website Launched To Help Seniors Compare Medicare Supplement Plans

Online, October 25, 2011 (Newswire.com) - Data released by Weiss Ratings finds premiums for Medicare supplement insurance (a.k.a. Medigap insurance) can vary more than 1,300% nationwide for identical plans.

Medicare Supplement Insurance plans are commonly referred as Medigap insurance because the plans fill the gaps in coverage not paid for by original Medicare.

Weiss Ratings analyzed more than 5 million premium rates from a list of more than 100 insurance companies offering Medigap insurance in 2011. The independent analysis from Weiss Ratings found that premium rates vary dramatically among all Medigap plans (A through N).

As an example, Weiss Ratings found rates for Medicare Plan A range from a minimum of $439 per year to a maximum of $5,776 per year for a 65-year-old male. That's a price difference of $5,337 for the exact same coverage plan.

"Clearly, the data for Weiss Ratings illustrates the importance for senior citizens to shop around when it comes to Medicare Supplement Insurance," notes California insurance agent C. Thomas Jerden. "With Open Enrollment starting early this year, I would advise anyone who owns a Medicare Supplement Insurance policy to compare providers and not miss this window of opportunity," added Jerden.

Because Medicare supplement plans are standardized by the United States government, price is usually the only difference between providers. Thus, comparison shopping is clearly in the best interest of the consumer. The new Medgap.com website is a good place to compare offers from top-rated companies. Unlike other web sites that require users to submit their personal information in order to see offers, visitors on the medgap.com website must only enter their zip code to view offers available in their area.

Based on the findings from Weiss Ratings, it seems reasonable that a few hours spent comparing Medigap providers is in the best interest of senior citizens. The ability to reduce one's premiums by thousands of dollars per year should be a motivating factor for anyone. Now more than ever, cutting expenses is especially meaningful for retirees who are living on a fixed income.

Before the internet, comparison shopping for insurance was much more difficult and time-consuming. Today, anyone with personal computer can quickly shop their options online at www.medgap.com

Keep in mind that this year the Medicare open enrollment period started earlier than usual and runs until December 7, 2011. During this open enrollment period Medicare beneficiaries are free to switch providers. Insurance experts urge anyone who currently owns a Medicare supplement policy to comparison shop during this window of opportunity. "It would be a shame not to shop your options and find out later that you have been over-paying for years," commented Jerden.

Many free tools are available on the web today to help senior citizens comparison shop their Medicare supplement options. The medgap.com website was created to provide a secure marketplace place where senior citizens can shop their options and not be concerned about their privacy.

www.medgap.com is a secure website where consumers can compare Medicare Supplement insurance offers. Medicare Supplement Insurance plans are commonly referred as Medigap insurance because the plans fill the gaps in coverage not paid for by Medicare.