What to Do When Your Medicare Supplement Premium Increases: Smart Steps to Save Money

A premium increase in your Medicare Supplement plan can feel like a burden, but it’s important to know you’re not stuck. Unlike other Medicare plans, you can shop for a new Medicare Supplement policy at any time during the year. In this post, we’ll talk about steps to address a premium increase and explore options that fit your needs and budget.

You Can Shop Your Medicare Supplement Plan Anytime

One of the key benefits of Medicare Supplement (Medigap) plans is their flexibility. You don’t have to wait for the Annual Enrollment Period to switch plans. If you experience a premium increase, it’s the perfect time to compare options with other carriers.

Steps to Consider:

• Work with a Licensed Agent: Agents can help you compare rates from multiple providers and find savings without sacrificing coverage.

• Check Your Health Status: While underwriting may be required when switching, many people still qualify for better rates with the same or similar coverage.

• Ask About Discounts: Some carriers offer household or payment discounts that could lower your premium.

Request a Free Policy Review

If your Medicare Supplement premium has increased, this is the ideal time to request a free policy review. At Pierce Insurance, we specialize in helping clients in Ankeny and surrounding areas find the best value for their healthcare needs.

If you only have a Medicare Supplement plan, you may still have gaps in your coverage.

Consider Bundling with Additional Products

To maximize your health coverage, pairing your Medicare Supplement plan with additional insurance products can be a smart move:

• Cancer Insurance: Helps cover the high costs of cancer treatments, including travel, lodging, and out-of-pocket expenses.

• Prescription Drug Plans (Part D): Ensure you have coverage for your medications, which aren’t included in Medicare Supplement plans.

• Dental, Vision, and Hearing Plans: These essential coverages often fill gaps that Medicare doesn’t address.

Why Bundle?

Bundling these products may provide peace of mind and financial security, especially as healthcare costs continue to rise.

Medicare Supplement premium increase isn’t the end of the road—it’s an opportunity to take control of your healthcare costs and ensure your coverage fits your needs. By shopping for a better plan or adding supplemental products, you can protect your wallet and your peace of mind.

Don’t wait—call Pierce Insurance today at 515-257-6663 for a free, no-obligation review. Let us help you find the best Medicare Supplement options and additional products to keep your healthcare affordable and stress-free!