A new low-cost Medicare Supplement insurance policy is now approved for sale to seniors in Ohio. The Ohio Department of Insurance has approved a very low-cost Medicare Supplement insurance plan for seniors and Ohio is among the first states in the nation to allow this supplemental insurance plan to be offered to its citizens. The State of Arizona, too, recently approved a policy for sale there. The availability of this low-cost supplemental plan for Ohio seniors was announced by
State Mutual Insurance Company of Rome, GA, and reported by
Business Wire Inc.
State Mutual President and CEO, Dee Yancey III, characterize the policy as one of the lowest cost Medicare supplement insurance plans available anywhere in the nation. State Mutual Insurance Company allows Medicare-age consumers to apply for the supplemental Medicare insurance policy online without having to talk with an insurance agent.
According to Business Wire, Inc., a quick random comparison of Medicare supplement policies available in a number of states shows that the State Mutual policy is generally the lowest-cost in most categories, and in some cases, costing less than half the price of the most expensive policies for the same coverage.
The online program allows an interested customer to review and select a policy, see a price quote, submit an application, receive confirmation of coverage and receive his or her policy in a few minutes of online time.
According to the company's website, the the low cost of the State Mutual Insurance Company policy is achieved by empowering the customer to go online for most, if not all, of the information and application phase of obtaining Medicare supplement insurance:
Our products are low-priced because we have eliminated much of the marketing costs by not having an agent come to your home. We have reduced our operating expenses by making policy issuance and administration more efficient.
The website promises the consumer:
- Low Premiums on All Plans.
- Online Approval and Immediate Policy Access.
It is welcome news that Ohio seniors are getting a lower cost alternative. Of course, reliance on an online solution may not be in your best interest. Medicare Supplement policies, are, however, fairly standardized, and comparison of policies is, as a result, easier than comparison of other types of insurance policies. Nonetheless, if you have a trusted adviser, it merits discussion before blindly accepting online comparisons and representations.
