Advantages of Selling Medicare Select Insurance

Medicare Supplement, also known as Medigap, plans complete your client’s Medicare Parts A and B coverage. Beneficiaries of Medicare can choose to pay premiums to private insurance companies like Mutual of Omaha and Gerber Life and when they Hospital Management Wikipedia need health care their supplemental policy covers the extra costs. These supplemental insurance policies are standardized by the Centers for Medicare and Medicaid Services (CMS) so all of the companies offer the same plans to consumers.
Medicare Select is a lower cost option offered from the same private insurance companies that offer Medicare Supplements. In a variety of plan choices, Medicare Select plans work with Medicare just like Medigap does and when your client buys a Select plan they are buying a Medicare Supplement policy.
Priced at approximately 15% less, Medicare Select offers most of the same great benefits of traditional supplemental insurance. Not a HMO, your clients will not surrender their benefits and will not be assigned a physician. Your clients will be able to visit their health care providers of choice, without the need for approval or pre-certification. If a client needs hospital care they will need to visit one of the network’s participating hospitals affiliated with their Select Insurance policy. The only difference from a traditional Medicare Supplement is lower premiums when clients agree to use a network of hospitals. Because the client is willing to go to a hospital on the company’s network, the premiums are approximately 15% less than a traditional supplement plan. In addition to lower rates, most of these plans tend to have fewer rate increases due to a smaller risk pool.
Medicare Select Plans are currently available in Alabama, Arizona, Colorado, Florida, Georgia, Kansas, Louisiana, Mississippi, Nebraska, North Carolina, Ohio, Oklahoma, Pennsylvania, Weight Loss Friendly Foods Tennessee, Texas, and Utah. Companies that offer these plans include Mutual of Omaha, Gerber Life, Woodman of the World, Sentinel Life, and Forethought Life.