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Medicare Supplement Insurance Costs In Illinois Can Vary Significantly
Consumers in major Illinois cities can pay as much as 97 percent more for virtually identical Medicare Supplement insurance policies according to findings of a study by the American Association for Medicare Supplement Insurance.
"While Medicare Supplement insurance policies are basically standardized, each insurer sets their own rates and the difference between the lowest and highest cost can be significant,"
The largest difference between the lowest available cost and the highest could be found in Rockford, Illinois. "The difference was 97.5 percent," Slome shares. The lowest cost for a 65-year-old female purchasing a Medigap Plan F policy was $116.61-per-
"There are many factors that insurers use to set policy costs, and we don't necessarily recommend buying the least expensive," Slome admonished. "But we do recommend at least learning about costs before locking yourself into a policy or a particular insurance company."
The organization provides free access to the leading national Find A Local Medicare Insurance Agent online directory providing information on nearly 1,000 professionals listed by Zip Code. No information need be entered to access the director at the Association's website, https://www.MedicareSupp.org.
The American Association for Medicare Supplement Insurance advocates for the importance of planning and supports insurance professionals who market Medicare-related insurance products. The organization's website contains relevant research and information designed to help consumers make educated choices in their planning.