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There is no reason Texas seniors should pay too much for Medicare Supplement insurance advises the director of the American Association for Medicare Supplement Insurance (AAMSI), the national advocacy organization.
According to the 2018 Medicare Supplement Insurance Price Index, the difference between the least expensive and most expensive Medicare Supplement insurance, often referred to as Medigap policies, in major Texas cities can vary by as much as 105 percent.
“Every month 350,000 Americans have to make a decision regarding their Medicare insurance,” explains Jesse Slome, director of the Association. “There can be a significant difference in price for basically identical policy.” For the 2018 price analysis, the organization compared rates for both men and women age 65 who live in major U.S. markets.
“We studied Plan F which is the most popular plan currently,” Slome notes. Over half (57 percent) of seniors selecting a Medigap plan, choose Plan F. For the largest Ohio cities, the largest difference between the lowest available cost and the highest could be found in Dallas. “The difference was 105.5 percent,” Slome shares. The lowest cost for a 65-year-old female purchasing a Medigap Plan F policy was $119.98-per-month the Association found. The highest cost for Plan F was $387.62. Details of the 2018 cost comparison findings for Texas Medicare Supplement costs for Houston, Dallas, San Antonio, Austin and Fort Worth can be accessed via the organization’s website.
“Our objective is to educate consumers about this important decision. We don’t necessarily recommend buying the least expensive,” Slome admonished. “But we do recommend Texas seniors learn about costs before locking into a policy or a particular insurance company.”
AAMSI provides free access to the leading Find A Local Medicare Insurance Agent online directory providing information on nearly 1,000 professionals listed by Zip Code. “It’s an anonymous, instant system,” Slome adds. Access the directory at the Association’s website, 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.