Medicare Supplement

Medicare supplements are just that - a supplement to your current Medicare plan. It is rare that Medicare covers everything your client needs, so medicare supplement insurance is the perfect plan to fill in those gaps.

Medicare Supplement plans will help take care of most, if not all, of the expenses that Medicare recipients receive that Medicare currently does not cover. For example, a medicare supplement plan could cover co-payments and coinsurance costs that really add up. 

Medicare Supplement

What to look for in a Medicare Supplement Company

As an agent that is looking for a Medicare Supplement plan to offer to customers, find a company that is:

  • Financially stable, which is very important for the longevity of the pricing
  • Has competitive pricing
  • Pays a competitive commission

Other things to look for are companies that provide household discounts and have no application fees. 

Why Should Your Clients Choose a Medicare Supplement?

It is easy to get overwhelmed when trying to decide on a medicare supplement plan. There are so many products that it quickly becomes a confusing mess. Individuals who are turning 65 are often exposed to bad or wrong information being given out, even if the intentions are good. Start understanding your customers and why they would buy on, to increase your supplement sales.

Medicare Supplements offer these benefits and more to your clients:

They are Easy to Understand

Medicare Supplemental plans (aka Medigap) plans are standardized by the federal government. Not every person qualifies for every plan and not every carrier sells every plan, but with 10 different plans to choose from, there is a Medicare Supplement plan for everyone.

The Benefits NEVER Change

Once your client is enrolled in a supplemental plan, the benefits are locked in. There is no need to worry about benefits being reduced in the future. It's good to know that your clients are safe and secure for the future.

No Need to Worry About Network Restrictions

As long as a provider accepts Medicare, then he/she will also accept a supplement. Approximately 98% of all doctors in the United States accept Medicare. There is also peace of mind for clients knowing that they are not bound by state lines when it comes to where they can receive care.

Agent Testimonial

"Approximately 98% of all doctors in the United States accept Medicare"

Which Medicare Supplements Should You Sell?

The most important thing to consider when deciding which Medicare Supplements you should focus on selling is what will work best with your clients and their lifestyles. It is also important to focus on who you prefer to do business with because it is important to have a strong relationship between all parties. Each plan has its benefits, so we have broken down our carriers in detail with the top bonuses for you so you can decide for yourself.

CSI Life, CSO, Humana Achieve, Lumico, Manhattan Life, Union Security, and Western United Life are Tidewater Management Group's exclusive Medicare Supplements. They each fall within the top five or six within each state the carriers are contracted in, so you really can’t go wrong with any of the exclusive Medicare Supplements. 

To view the rest of the Medicare Supplement carriers that you can contract with through Tidewater Management Group, click here.

Senior couple talking to insurance agent

Do You Know Which Scenarios Warrant Guaranteed Issue Rights?

If your client's coverage is changing through no fault of their own, then a Guaranteed Issue plan could be right for them. Also referred to as Medigap protections, guaranteed issue rights may protect your clients from medical underwriting. If this type of plan is necessary for your client, an insurance company:  

  • Must sell the prospect a Medigap policy
  • Must cover all pre-existing health conditions
  • Cannot charge more for a Medigap policy due to past or present health problems
Agent Testimonial

"If your client needs a guaranteed issue Medicare Supplement, an insurance carrier will cover all pre-existing health conditions and will not charge for a Medigap policy due to health reasons."

- Ronnie James -

Since health insurance companies often use health history and data on a prospective client's pre-existing conditions to determine whether or not he or she will be covered and the amount of coverage provided, guaranteed issue rights are in place to protect those who may not be eligible otherwise. 

If your client needs a guaranteed issue Medicare Supplement, an insurance carrier will cover all pre-existing health conditions and will not charge for a Medigap policy due to health reasons.

There are seven scenarios in which prospective clients have a guaranteed issue right. This can be confusing for both the agent and the insured, so we have outlined each scenario below to make guaranteed issue plans easier to navigate. Read the full blog post that describes each of the seven scenarios in detail to learn more.

The Best Time For Clients to Purchase a Medicare Supplement Plan

Medicare states that the best time to purchase a supplemental plan is when your client first gets their Medicare Part B plan. That is because they do not have to answer any health questions. Should they choose to go without a supplement or go with an Advantage plan when they get Medicare, they could be declined based on health questions if they want a supplemental plan in the future.

Agent Testimonial

The question really is “why wouldn’t I choose a Medicare supplement?”
- Ronnie James -

Since none of us have a magic crystal ball, the supplement plan offers certainty of benefits, less risk, no networks and peace of mind for the future. The question really is “why wouldn’t my clients want a Medicare Supplement plan?”

New Medicare Supplement Plan Changes for 2020

As you may already know, changes came to Medicare supplement plans effective January 1, 2020. 

Plan F is the most popular supplement plan in the United States, by far. This is mainly because plan F offers first dollar coverage. While this is a huge benefit to the applicant, Medicare feels it causes abuse in the system. This is why effective January 1, 2020 Medicare Supplement plans F and C are no longer available to market to those just turning 65 and aging into Medicare.

Anyone who was enrolled in Medicare prior to January 1, 2020 will still be able to purchase and switch from carrier to carrier plan F and plan C supplements. Those aging in January 1, 2020 or after do not have the options of plan F and C.

For those turning 65 January 1, 2020 or after, the most comprehensive plan is plan G. Plan G is now guaranteed issue. In addition, there is also a high deductible plan G.

How much final expense is right for your clients?

Are You Ready to Sell These Fantastic Medicare Supplements?

Are you ready to get contracted? It's easy! Simply fill out this form to get started. If you have any questions, don't hesitate to give us a call at 888-622-9122. Our expert agent support team is always ready to help. 

Check out all the carriers that you can contract with through Tidewater below, and don't forget to sign up for our VIP Portal for all the latest industry news.

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