2022 Medigap Price Comparison Report Published, Compares Medicare Insurance Costs
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LOS ANGELES - Californer -- The Medicare Supplement Insurance Price Index has been released by the American Association for Medicare Supplement Insurance.  The 2022 analysis reports the lowest and highest Medigap Plan G costs for men and women who are age 65.

"A 65-year-old woman in Dallas could pay as little as $99.24 monthly. That is the lowest rate found for the 10 largest metro areas studied," states Jesse Slome, director of AAMSI, the Medicare advocacy organization.  "If she lived in New York City, the lowest monthly premium she would find is $278.26."

The Association released its annual comparison of Plan G prices for Medicare Supplement insurance.  Medicare Supplement is often referred to as Medigap.  According to a 2021 analysis by the association, Plan G is the most popular choice among those turning age 65 who opt for Medigap coverage.  Some 54.9 percent purchased Plan G.

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"In four cities, the lowest available Plan G prices rose nominally compared to 2021," Slome shares.  The four included New York City, Chicago, Houston and Phoenix.  "In Philadelphia and Atlanta, the lowest cost Medigap Plan G will actually cost less this year."

The number of policies available varied from city to city the study found.  "There could be just a handful of choices or as many as 20 different companies competing for your business," Slome explained.  "Coverage is virtually identical but clearly the pricing is not."

In addition to significant differences between the lowest and highest cost policies, the Association noted other important factors for consumers considering coverage.  "Household discounts are not offered by all insurers, but they can be as high as 14 percent," Slome adds.  "That can represent a considerable savings over time."

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Medicare Supplement insurance coverage is the chosen option of over 14 million Americans reports AAMSI.   "The yearly price comparison points out the importance of comparing before you buy," Slome advises.

The American Association for Medicare Supplement Insurance (AAMSI) advocates for the importance of educated planning.  AAMSI supports insurance professionals who market Medicare insurance solutions. Access the 2022 Price Index at https://www.medicaresupp.org/medicare-supplement-price-index/.

The organization makes available a free online directory that lists Medicare Insurance agents.  To access the directory, go to https://www.medicaresupp.org/find-local-agent/.  No personal information other than your Zip Code is required to access the directory listing.



Source: AAMSI
Filed Under: Insurance

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