How Much Do Medigap Policies Cost?

  1. 981 POINTS
    Jeffrey VanCleve
    Marketing Director, JLS Marketing Concepts LTD, Canton, OH
    The answer is.....it depends.   There are 11 standardized Medigap plans; each plan provides different coverage resulting in different premium (cost) amounts.  Also, most Medigap carriers use an "attained age" rating (pricing) methodology, so the older you are, the higher the premium.  For the same plan and age, most carriers as well have a higher premium for a male than a female, and a higher premium for a smoker than a non-smoker.  Where you live (state and zip code) may also affect the premium.  Carriers also charge different premiums for the exact same plan.  The average cost of a Medigap plan for all individuals over 65 is approximately $200 per month; it may cost less or more depending upon the factors outlined.  Your best bet is to find a reputable senior market insurance agent to discuss your objectives and available options.
    Answered on June 2, 2014
    flag this answer
    2. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>