It might be hard to believe but Medicare supplement insurance is about as close to a commodity as you can get. It’s safe to say that Medicare supplements can, in many ways, be considered more of a commodity than oranges or coffee. Some oranges are sweeter or bigger than others and some coffee beans are more flavorful than others. Standard Medicare supplements are identical in every way as long as you compare like plans from one company to another (like a Plan F).

With Medicare supplements there are no additional benefits to owning a particular plan from let’s say AARP or that same plan from Blue Cross Blue Shield. The benefits are identical, they pay claims in the same way, and the doctors networks are all the same.

So, what’s the difference? Price … and financial stability of the company are about the only things that differentiate the offerings. There may also be some differences in medical underwriting that must be considered if you’re not in a guaranteed issue situation.

You can read all the marketing material from all of the Medicare supplement companies, decipher all of the guides from Medicare, speak to a half dozen agents, and you’ll conclude that the best way to shop for Medicare supplement insurance coverage is to determine which plan letter you want and which financially stable company (AM Best is the primary resource to determine financial stability of an insurance company) is currently offering the best rate for that plan in your area.

It really is that simple. I realize this may be hard to believe when you look at the vast array and overabundance of resources on the topic. So, you may want to do a little more research on Medicare supplement insurance but, in the end, you’ll boil it down to finding the best rate from a good company for your selected Medicare supplement plan. It’s even easier than trying to determine where to buy the sweetest oranges.

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