is an objective source of information and advice to guide you through this process, either for yourself or a loved one.
MedicareSupplemental.com is an information portal and quote provider for Medicare Supplemental Insurance, also called "Medigap" insurance. If you are visiting us, you are likely to be either looking for or contemplating the purchase of a Medicare Supplemental policy.
So, if you're planning on purchasing Medicare supplemental insurance you're likely wondering how it is that insurers calculate their costs for each policy.
As we've mentioned before, Medicare supplemental insurance plans are required to offer the same benefits from one company to the next. But as you'll find, prices can vary from provider to provider.
So why do some insurance agencies charge more than others for similar plans?
Each insurance company decides how it will set the prices, or premiums, for its supplemental policies based on three main criteria:
Other factors include geographical ratings, medical underwriting, and other discounts. For example in some cases women and/or non-smokers may pay less. And those with pre-existing conditions who don't enroll during the open enrollment period could pay more.
Always shop around for your supplemental insurance, and always ask how each insurance company sets its policies, so you know whether or not you should shop there. The way they set their prices will affect how much Medicare cost to you, and how much you'll pay in the future.