What to Expect During Your Annual Medicare Supplement Review

Hi, I’m Luke Hockaday, a licensed agent at Senior Allies. When you buy a Medicare Supplement, it’s important to keep an eye on it. Your rates will go up over time, and new carriers and plans are always coming into the market.

To make sure your Medicare Supplement policy is still the best plan for you, we review it every single year. This is free of charge – it’s one of the ways we provide our clients with great service.

We do your annual review about 30 days out from your policy’s effective date. So, if your policy first went into effect on March 1st, we’ll likely be meeting with you every year at the end of January or beginning of February.

Typically, this timeframe – 30 days out from your effective date – is when you’ll get a rate increase. We can shop the available plans in your zip code and compare those prices to what your new rates will be.

An annual policy review appointment lasts about 30 minutes. During that time, we review your current plan, your rates, and your health.

If the plan you have is still the best plan for you, then there’s nothing we have to do. If there’s an opportunity to save money, we can explore those options. Many times, we can get a client the same coverage for less money.

Your annual review is also a great time to check on your other coverages, such as final expense insurance, your long-term care plan, the present rate of return on your investments, and making sure your overall retirement plan is sound.

When you trust us with your Medicare plan, we don’t just sell you a policy and disappear. We stay in touch with our clients throughout the year, and you can always count on an annual policy review. If you have any questions or would like a quote, please call us at 833-801-7999.