Oct 122011

Eligible senior Medicare recipients that are interested in finding the best Medicare supplement insurance plan or Medigap plan for 2013 will find many coverage offerings from a potpourri of insurance companies, all depending on the state and county in which they reside. Companies such as AARP, Blue Cross Blue Shield, Colonial Penn, Sterling and Aetna all will be offering plans throughout the United States for 2012. Most plans will be available by October 15th, 2011, the start of the annual enrollment plan.

The best plan will vary depending on the individual senior demographic data. For instance, women may find that their rates are generally lower for these plans, while smokers will definitely find that they will have to pay more for the best coverage. A quick glance at plans offered to a female, non-smoker aged 65 living in Palm Beach, FL shows that there are about 30 plan offerings, with premium prices ranging from 1100 dollars for the lowest cost Medicare Advantage plan, to about 3500 dollars for the most expensive plan. Price is, of course, not the only consideration, as many senior Medicare recipients might wish to have many choices for doctors or hospitals, and be willing to pay higher monthly premiums to keep out-of-pocket costs down. Keep these costs differences in mind.

Additionally, Medicare recipients may wish to consider the various Part D drug plans offered along side these Medicare supplemental insurance plans — see our upcoming post on 2012 Medicare Part D plans for more in depth information.