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Before You Buy a Medigap Plan Online Here are 5 Things You Must Know

Buying a Medicare Supplement online is easy and with today’s technology, it also makes sense. You can compare quickly all the plans, and all the companies available for sale in your area. With these online tools, you are guaranteed to find the best rate possible. While most insurance websites are no cause for concern, there are some precautions you should take while shopping for anything on the internet. Here are five Medicare Supplement shopping tips to get you started.

1. Everyone Has the Same Rates

When it comes to Medicare Supplement rates, it doesn’t matter what website you choose. Everyone offers the same rates. This includes direct company websites. A Medigap Plan must be approved by a States Insurance Department before a company or agent can sell it. The only rates that can be sold by anyone are those state-approved rates.

Example:

A Medigap Plan F with “ABC Company” sold by www.medigapplanners.com

will have the exact price as every other website, agent or local office. No exceptions.

2. Always Check the Privacy Policy of a Medicare Supplement Website

Some websites are in the business of selling your information. These websites will not enroll you in a Medigap Plan. After collecting your information, it may be sold over the internet to independent insurance agents as a potential lead. Confirm your information won’t be sold by checking with the site’s Privacy Policy, usually found at the bottom of the page. It should explicitly state that your data is private, and will not be sold or shared with a third party.

3. Never Send Personal Information to an Unsecured Website

Secure sites encrypt information with something called an SSL Certificate. It’s easy to confirm this technology is in use. Some browsers will display a lock symbol at the bottom of the window or next to the website’s address. If yours doesn’t, look at the full URL by clicking on your web browsers address bar. If it’s secure, it will start with https. The “s” stands for secure.

How to Confirm SSL is Used

4. Direct Insurance Company Websites are NOT Your Best Option

You should always compare as many companies as possible, and as mentioned in Tip #1; there is no discount for working directly with a company. Because rate increases are certain, it is always a good idea to form a long-term working relationship with an independent agent. Your agent should review your healthcare options on an annual basis. By law, a licensed agent’s fiduciary responsibility is with you the client. By working with an agent, you will avoid the conflict of interest created by working directly with a company.

5. Most Online Sales Sites Don’t Show All the Rates

It is common practice for Medicare Supplement websites to edit their comparisons and only show you the companies they want you to see. These sites only want you to know about plans they’re licensed to sell, or plans that pay them a higher commission. At Medigap Planners, we guarantee our comparisons have ALL the companies and ALL the plans available in your area. Our primary goal is to provide you the information needed to make an informed buying decision regarding your health coverage.