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Medicare Insurance Texas News – June 24, 2020: Texas seniors benefit from some of the lowest costs for Medicare insurance options according to the 2020 Medicare Insurance Price Index released by the American Association for Medicare Supplement Insurance.
The findings reveal a significant spread between the lowest and highest rates available for Texas seniors. A Dallas female turning age 65 can pay as little as $99.24-per-month for Medigap Plan G coverage. The highest cost for virtually identical coverage in Dallas was $381.62.
The analysis of 2020 Medigap pricing for top cities examined rates for Plan G. According to the American Association for Medicare Supplement Insurance this is the most common choice for those turning 65 who opt for supplemental Medicare insurance coverage.
“Rates are set by each of the various insurance companies and there can be a significant difference between the lowest and the highest cost,” Slome notes. “In some markets the highest rate was almost four times higher.” Texas has just over four million people who are age 65 or older, the Medicare eligibility age. “By 2040, that’s expected to grow to 7.5 million,” Slome points out. “There’s a great need for consumer awareness about this important health plan protection.”
Houston, Texas (Zip 77001), female turning 65, Plan G
Lowest monthly premium: $108.10
Highest monthly premium: $393.25
San Antonio, Texas (Zip 78245), female turning 65, Plan G
Lowest monthly premium: $98.04
Highest monthly premium: $356.98
Dallas, Texas (Zip 75001), female turning 65, Plan G
Lowest monthly premium: $99.24
Highest monthly premium: $381.62
The Association posted the findings on the 2020 Medicare Supplement Plan G Price Index findings for many Texas cities on their website. “Consumers can also read savings tips,” Slome adds. The insurance advocate notes that household discounts may be available. “The percentage savings can vary from five percent to as much as 14 percent for Texas applicants,” he explains.
The Association offers an online directory to find Texas Medicare insurance agents located by Zip Code. “The directory is free to use and completely private. The Association does not gather any personal information,” Slome shares.
Based in Los Angeles, the American Association for Medicare Supplement Insurance is an advocacy and informational organization. AAMSI supports insurance professionals who market Medicare Supplement insurance. Slome also runs the American Association for Critical Illness Insurance. Learn more by visiting their website at www.aacii.org.