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Texas Medicare Insurance Rates Vary For Turning 65 Seniors In 2023
"A man turning 65 this year in Houston can pay as little as $125 or as much as $350 monthly for Medigap Plan G coverage," reports Jesse Slome, director of the American Association for Medicare Supplement Insurance (AAMSI). The data is from AAMSI's just-released 2023 Medicare Insurance Price Index.
Around 25 different insurers offer Medigap coverage in Texas. "The state has one of the largest arrays of Medicare Supplement insurers," Slome notes. "That means it's more important for agents and consumers to know what's available."
According to the Association, a female turning 65 in Houston can expect to pay slightly less than her male counterpart. Monthly premiums for Medigap Plan G ranged from a low of $111 to as much as $312. "Price is certainly important but so is knowing how long an insurer has been offering Medigap in the state, available household discounts and a company's history of rate increases."
"Because of the TV ads blanketing cable channels, many seniors believe they can freely switch Medicare plans whenever they want," Slome points out. "That's not always true and especially if you opt for Medigap coverage. Selecting the best coverage when you first turn 65 is more important today than ever."
The Association reported that there are currently over 385 different Medicare Advantage plans available in Texas. "Some will offer a $0 premium option but zero premium doesn't mean zero cost," Slome warns. "The actual costs should you need certain types of care can easily amount to thousands of dollars."
Seniors seeking to find the best Texas Medicare Insurance agents visit the organization's website at https://medicaresupp.org/
The American Association for Medicare Supplement Insurance advocates for the importance of consumer awareness and supports insurance and financial professionals who market Medicare insurance solutions. Access the latest Medicare insurance information and data at https://www.medicaresupp.org/
Jesse Sklome, AAMSI
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