Medicare recipients now have a quick and easy way to compare supplement plans in North Carolina, Insurance Commissioner Jim Long announced today.

Medicare does not pay all of a beneficiary’s medical expenses, so many people purchase a Medicare supplement policy to fill the financial gap. A new database on N.C. Department of Insurance’s web site, www.ncdoi.com, allows visitors to find estimated monthly and annual premium rates for various Medicare supplement plans offered by companies licensed in North Carolina.

It provides up-to-date premiums from various companies as well as a history of each policy’s premium rates, allowing citizens to view past rate fluctuations. The service is free to users and was developed by the Seniors’ Health Insurance Information Program, known as SHIIP.

“Our SHIIP division understands the importance of educating seniors and others about Medicare and its supplements,” Long said. “This addition to our web site provides a valuable way to help citizens learn about the system and find out exactly who they are dealing with before they make a financial commitment. It will also be a vital resource for our state’s caregivers.”

The information is tailored by statistics supplied by the consumer. The site will prompt details such as age, gender and whether the individual is a smoker. In addition to listing premium information, details about individual plans are also available with the click of a mouse.

“This new tool allows consumers to understand exactly what they are paying for before purchasing a Medicare supplement,” Long said. “It allows them to compare different policies and make sure the plan they select is the best product to suit their needs.”

SHIIP is dedicated to providing information and advice on Medicare, Medicare supplement insurance, long-term care insurance and Medicare managed care plans to the citizens of North Carolina. This is one of the first Medicare Supplement web sites in the nation.