When shopping for a Medicare supplement policy, you will probably encounter some big differences in the Medicare supplement premiums offered by different companies. There are several reasons for this.
The type of policy influences the price. If the policy is a Community-rated plan, the same premium is charged to all who have the Medigap policy. The premium amount is not determined by your age. If the policy is an Issue-age policy, the Medicare supplement premium is determined by the age of the person when the policy is purchased. The price never goes up except due to inflation and other possible variables. An Attained-age policy determines the monthly premium by your age. As you grow older, the premium will increase and you will also see adjustments due to inflation among other things.
Some medicare supplement companies offer discounts. There are household or spousal discounts, discounts for being a woman, non-smoker discounts, early enrollment discounts, and discounts for paying annually or using an electronic funds transfer.
To learn more about Medicare supplement insurance, please contact the Medicare Supplement Center!