Medicare Supplement (Medigap) Plan Costs


Medicare can help seniors cover healthcare costs but covering gaps in your Medicare coverage will require the purchase of supplemental health insurance. If you’re looking for help to navigate and compare Medicare plans, Medigap is here to help!

Timing Is Key

As possible, aim to purchase your Medigap policy during the open enrollment period. This covers the time from when you turn 65 and for the following six months. Depending on the policy you purchase, you will be able to lock in rates that won’t be impacted by changes in your health, though they may be affected by inflation.  

Where Do You Live?

If you live in the states of Massachusetts, Minnesota or Wisconsin, your standardized plan and purchase options will likely be different. You may find your best help from a private insurance professional who can assist you in navigating plans available in your state and what those Medicare supplement plans cost.

For citizens of the other 47 states, your purchase of a supplemental plan will likely be based on three factors. The rating systems of Medicare supplements will heavily impact your ultimate costs for your supplemental insurance. Remember, timing is key!

Your Retirement Plans

When reviewing what Medicare supplemental plans cost, it’s important to keep in mind what you want to do in retirement. For example, do you plan to travel? There are Medicare supplements that will offer you coverage when you travel overseas.

If your current health is not good, be aware that you can also purchase a Medicare supplemental policy that will help you cover skilled nursing care, while others provide you with coinsurance to cover what your long-term care insurance doesn’t cover.

Choosing The Policy That Will Provide You The Greatest Benefit

Depending on your current health conditions, you may be able to purchase a small policy. Experts recommend that unless you have easy access to significant savings you do not purchase a high deductible policy. This coverage may be low-cost, but a health emergency can be catastrophic for your financial future.

Medigap Can Help

When you contact a Medigap professional, you’ll be able to review supplemental Medicare policies available around the nation and make the best choice for your health situation and your budget. By maintaining a large database of insurance providers, you can be confident that you’re getting the best pricing on your insurance purchase. To learn more about Medicare Supplemental Plans around the nation, plan your purchase or get a quote for a policy, contact Plan Medigap by calling (800) 750-2407 today. Don’t wait until you’re 65!

Final Thoughts

Supplemental insurance can mean the difference between confidence and fear should a medical emergency arise. To keep your health costs low in retirement, it’s critical that you buy the policy that will give you the best return for your insurance dollar. Contact us to start your retirement insurance planning at (800) 750-2407 today.