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Medicare Insurance Association Publishes Medigap Plan N Price Index
"Medigap Plan N is the second most popular choice among seniors turning 65 and purchasing Medicare Supplement coverage," explains Jesse Slome, director of the Medicare insurance advocacy organization. "While Plan N coverage is uniform the same can definitely not be said about the pricing."
The organization reported lowest and highest premiums for men and women across 10 major metro areas.
The 2022 Medigap Plan N Price Index found that Phoenix had the highest available costs. "Insurers each get to decide how much they want to charge," Slome said. In some markets relatively few Medigap plans are available according to AAMSI. "In some cities 20 or more plan choices are available which makes comparing quite a daunting task."
The analysis reported that some insurers added Policy Fees and some offered household or spousal discounts. "The discount can be as much as 14 percent which can result in significant savings over many years," the Association director adds.
Headquartered in Los Angeles, the American Association for Medicare Supplement Insurance (AAMSI) advocates for the importance of planning. Access the full Plan N Price Index at https://www.medicaresupp.org/
The organization makes available a national directory listing local Medicare insurance brokers who offer Medicare Supplement, Medicare Advantage and prescription drug plan information and rate comparisons. Access to the directory is free and completely private. Go to https://www.medicaresupp.org/