Are Medicare Supplement Companies Regulated?



Medicare supplement companies are regulated by the Federal Trade Commission for example. The Medicare supplement companies are going to try to sell you things once you become Medicare eligible. The things that they sell you can be traditional medical devices or things like unique pacemakers for example which fit your exact medical needs. A consumer has to make sure that the companies trying to sell you devices that they try to sell you these devices in an honest way. The Federal Trade Commission wants to make sure that if companies get your mailing address that the Medicare supplement companies do get your address in a very legal way.

Medicare Supplement Companies

The Medicare supplement companies are going to be regulated by workers who happen to be a part of Health and Human Services. You want to make sure that companies are not charging Medicare too much money for things like prescription medications and wheelchairs for example. The people who happen to work at Health and Human Services are going to try and make sure that the Medicare system is not overcharged for these services because they happen to want to make sure that the Medicare system remain solvent. The solvency of the Medicare system is very important for some people.

Regulations

Some of the Medicare supplement companies welcome the idea of being regulated by the federal government. The federal government will try to give subsidies to some of these companies so they can deal with some of the regulations that the federal government can send their way. You have to also take into account the idea of companies having to hire more workers in order to simply deal with the regulations. The federal government likely would not regulate some of these Medicare supplemental companies if many consumers out there did not ask them to do so.



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