The best time to buy a Medigap policy is during your Medicare open enrollment period because companies must sell you any plan they offer without regard to pre-existing conditions. Underwriting guidelines, rate guarantees, and premium changes matter, you want to work with someone who specializes in Texas Medicare supplements if you are not in the open enrollment period. Shop around. Prices can vary considerably. Use the rate guide section of this handbook to compare the prices of the plans that interest you. Consider other factors. Price should not be your only consideration. You can learn a company’s complaint record and A.M. Best financial rating by calling TDI’s Consumer Help Line. Both are important indicators of the service you can expect from a company. Your family and friends are other sources of information about a company’s customer service. Ask them if they have had any experiences with the companies you are considering. Consider your needs. Although it is illegal to sell you more than one Medigap policy, insurers may offer other policies with benefits that may overlap Medigap coverage. These include cancer, specified disease, hospital indemnity, and long-term care policies. Any duplication of benefits must be disclosed in writing. In general, duplicate coverage wastes money because you are paying twice for the same coverage. Look into Medicare prescription drug coverage. Medicare Part D can help you pay your prescription drug costs. There are exclusions for certain drugs, however, and Medicare Part D won’t pay for drugs covered by Medicare parts A or B. Medicare Part D plans are offered by private insurers approved by CMS. Coverage is not automatic. If you want it, you must select a Medicare-approved prescription drug plan and enroll in it. You are eligible if you have Medicare Part A or Part B. LEARN MORE Medigap / Medicare Supplemental Insurance: Many companies sell Medicare supplement policies in Texas. Privately purchased health insurance that fills in the "gaps" in Medicare coverage. They are designed to supplement the coverage of the Medicare program minimizing deductibles and copayments for covered services such as hospital and doctor bills; it does not provide help with long term care costs. A Medigap company may have a competitive price in one part of Texas, but not in another. Look for competitive Medicare supplement rates as this can make your out of pocket expenses more affordable. Purchasing a Medicare Supplement should be one of the simplest insurance purchases you ever make with affordable rates and major carriers.

Protect yourself  Read what you are asked to sign before you sign it. Never sign a blank application form. If an agent tries to rush you, be suspicious! Tell the agent you need more time. If you buy insurance by mail, ask if the company has a local agent or a toll-free number you can call if you have questions. Try to buy from an agent you know and trust. Ask questions and take notes when you talk to an agent. These could help you later if there is a dispute over what you were told about a policy. Make sure the agent and company are licensed. You can verify company and agent licenses by calling TDI’s Consumer Help Line. Don’t buy a policy on the agent’s first visit. Invite someone you trust to be present during the second visit. An agent shouldn’t object. Answer all questions on the application accurately. If an agent helps you complete the application, make sure the information is correct and complete before you sign. Omitting or falsifying information could cause the company to deny your claims or cancel your policy. Do not pay cash or make a check out to an individual agent. Always pay by check or money order so you have a clear record of payment. Make checks payable only to the insurance company or insurance agency. Insist on a receipt signed by the agent on the company’s letterhead. Before making a lump-sum payment, ask the agent or company about reimbursement of unearned premium. This is especially important during the open enrollment period when you have the right to change companies. Be sure you have the names and addresses of the agent and the insurance company. Know how to contact the agent and the company if you need help. Read your policy carefully when you receive it. You can return a policy for any reason and receive a full refund within 30 days of the date you received it.