Myths abound when it comes to Texas Medicare insurance. Here is some information to clear up some of those myths. The first myth is that Medicare supplement policies differ from one company to another. All policies which offer supplemental coverage to Medicare must conform to strict guidelines offered by the federal government. The feds have outlined ten policies which insurance companies can offer to consumers. These plans go by the simple names of Plan A, B, C, D, F, G, K, L, M, and N. Each policy has a strict program of benefits that each company must provide. The real difference comes to price.
The second myth to dispel is you do not need a Texas Medicare Insurance policy. There is no law that forces you to purchase a supplement policy. Some people receive additional medical coverage through private policies and other sources. They may have enough coverage to offset the out of pocket expenses offered by traditional Medicare. However, for many people, supplement insurance makes sense. A simple accident or illness can lead to thousands of dollars in out of pocket expenses, if you do not have a supplement policy in place. You need to look at your own situation to determine if you need a policy or not.
The next myth to dispel is that prescription drug coverage is part of the Texas Medicare insurance supplements. When Medicare Part D became available, all prescription drug coverage through supplement policies stopped. If you want prescription drug coverage, you need to purchase a Part D policy through a qualified insurance company. These policies require a separate premium, deductible, and copayments from supplement policies. You need to factor in this extra cost when looking at supplement policies as well as prescription drug coverage through Part D policies.
The final myth to dispel is you can save money if you purchase Texas Medicare insurance supplements only using online quotes. Many people have concluded that insurance brokers cost more than using online quotes. That is not true. Insurance companies offer policies in the state of Texas based on certain criteria and rates are the exact same regardless of buying online, direct or working with a professional. That’s state law. You can get better advice and a wider range of quotes if you use the services of an insurance broker. You can get an idea of how much insurance is through online quotes. But, an insurance broker can help you wade through the confusion and find the right policy for you.
For more information on Texas Medicare insurance visit www.MedicareInsuranceTexas.com today!
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