Like most insurance, Medigap Insurance charges a monthly premium.
You will also incur a monthly premium for Medicare Part B. This rate change from year to year. Medigap Insurance premiums also vary from year to year, based on the type of premium for which you sign up.
As you shop for Medicare Supplement Insurance plans, you will come across three pricing structures:
Attained age- Your monthly premium is based on your current age at time of enrollment into the plan, and these rates will be incremented by the year. So the sixty five year old will have a different premium than the sixty six year old and on up the age scale.
Banded or Issue age- The Medicare Supplement Insurance company may chose to offer the same rate for those between certain ages. For example, the rate will be the same for those between sixty five and sixty nine, seventy and seventy four, and so forth.
Community- Under this premium, Medicare Supplement Insurance company offers everyone in the community or state the same Medigap rate for the same Medicare Supplement plan. In this case the sixty five year old would have the same Medigap premium as the eighty five year old.
To get more information about Medicare Supplement Insurance plans, talk to one of our Medigap plan representatives today or use our instant quote below.