Get Medigap Costs

Medigap premiums vary widely depending on the insurance company, the plan, and where you live. Each insurance company decides how it will set the price, or premium. for its Medigap policies, which can affect how much you pay now and in the future. How do insurance companies set prices for Medigap policies?

Comparing Medigap costs

The benefits in each lettered plan are the same, no matter which insurance company sells it. The premium amount is the only difference between policies with the same plan letter sold by different companies. There can be big differences in the premiums that different insurance companies charge for the same coverage, so be sure you compare Medigap plans with the same letter (for example, compare Plan G from one company with Plan G from another company). 

When you compare Medigap plans, you’ll see their estimated costs so make sure you contact the insurance company for a more accurate price. Compare the costs of Medigap plans in your area.

The cost of your Medigap policy may also depend on whether the insurance company:

  • Offers discounts (like discounts for women, non-smokers, or married people; discounts for paying yearly; discounts for paying your premiums using electronic funds transfer (automatic payment from checking account or credit card); or discounts for multiple policies).
  • Uses medical underwriting or applies a different premium when you don't have a guaranteed issue right or aren't in your Medigap Open Enrollment Period.
  • Sells Medicare SELECT policies that may require you to use certain providers. If you buy this type of Medigap policy, your premium may be lower.
  • Offers a "high-deductible option." How does this affect cost?

Paying for Medigap

When you buy a Medigap policy, you’ll pay the private insurance company a monthly premium. Your insurance company will let you know how to pay for your monthly premium. You also have to pay your monthly Medicare Part B premium. Medicare doesn't pay the premiums for your Medigap policy. Premium amounts typically increase each year.

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