Difference of Medicare Supplement Plans across different States

Best Medicare Supplement Plans are sold by the private companies, people are often sceptical about the service they are providing. They are afraid that whether the policies that are sold to them are of the same price as the policy sold elsewhere. They are also doubtful about the prices of different types of policy sold by a company. This feeling of uncertainty is nothing but natural because of the involvement of the private company which are known for making profits. But you are rest assured that these companies are not going to cheat you in any which way because these policies are regulated by the State.

Medicare Supplement Plans are standardised

The Medigap policy is completely standardised. They are regulated under both the federal and state laws in order to protect the interests of the common man. The policy which will be sold to you can be clearly identified as Medicare Supplement Insurance. These policies are denoted by a specific alphabetical letter and content of this policy is same across all the States of the US. So, it does not matter in which State you are living you will get the policies at the same price.

However, there may be a case where the private companies in your particular area do not sell a particular Medigap policy at all. In such a case you cannot do much but to either obtain the specific policy that you want from some other state or purchase whatever policy the companies are selling in your particular area. The former method of action is advisable because if you need to get a specific coverage then you should not settle for any given policy.

Rules for insurance companies

Medicare Supplement Plans are standardised all over the US. All of them provide some basic benefits and some provide extra benefits. However, in the states of Massachusetts, Wisconsin and Minnesota the policies are very differently standardised. The policies offered in these states are different from the rest of the US but are standardised within the state.

The insurance company has the power to decide which policy they want to sell but this is subjected to certain rules which are:-

  • If they want to sell you any Medicare Supplement Plans they first have to offer you Plan A.
  • They must also offer you Plan C or Plan F before showing you any other type of policy.

It is also legal that they do not offer you all the Medigap policies.