For California residents who are turning 65, it might be strange to think of Medicare supplements in terms of a State since the underlying program is a Federal one but there some important considerations to look at when shopping for California Medicare supplemental insurance. This is mainly a function of the carriers and plans available which although standardized by the Federal program, are definitely affected by the State in which your currently reside. Let’s take a look at what to consider if you’re a California resident in order to get the best possible plan and rate.

So what do we mean when we say the Medicare plans are standardized at the federal level? That’s a good place to start. An F plan is an F plan regardless of the carrier or State. This makes it easier to choose a plan since we can first find the right benefit mix and then concentrate on which carrier to purchase the plan from. This is where the State makes a difference. Health insurance, including Medicare supplemental insurance, is still State by State regardless of any Federal standardization of the plans. Each carrier can choose to offer certain plans in the Medicare supplement world (currently A through N). For example, one carrier may offer the K plan while another might not. They each have a mix of plans available even though most (if not all) offer the F plan since it’s the most popular plan on the market and generally, the best value. Once we pick the right plan, how do we determine the right California Medicare supplement carrier? That’s the next piece of the puzzle.

When considering a California Medicare supplement carrier, we need to look at two items: price and stability. For a given Medicare supplement plan (let’s say the F plan for argument’s sake), what is the price that the major carriers charge for that plan. They should all be in the ball park of each other since the core benefits are the same. If they’re way too high or way too low, be careful. Neither extreme will probably work in your favor over the longer term and we discuss this in detail with other articles. The other concern which partially coincides with price is stability. Is the carrier strong enough to be there for the long haul. Keep in mind that you are buying a California Medicare supplemental insurance for years if not decades. You may be guaranteed issue now but if your health changes, it can be difficult if not impossible to switch California Medicare supplements plans and/or carriers. If a carrier is not successfully managed, the rates can fluctuate wildly or they can leave the market. In the case of the latter, you may still be fine as that likely will result in a qualifying event for you to move to another California Medicare supplement plan and carrier. What if the carrier doesn’t go under (most do not) or doesn’t leave the market but the rates increase significantly. You may be stuck in with that carrier. You don’t want to be in this situation so picking a good carrier and plan is critical in the beginning. This is where we can help.

As licensed California Medicare supplement insurance agents, we know the carriers, the plans, and marketplace. We can quickly size up your situation to figure out what might be good options for you. You pay no extra charge for this 3rd party assistance and it might just save you sizeable amounts of money over years. California is one of the most dynamic and competitive insurance markets in the U.S. so make sure to get the most of out of all that competition by knowing all the available options with the help of a licensed agent.