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Medicare: Medigap Policies

Medigap Premiums

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Although all companies write one or all of the same ten plans, the rates will vary from one company to the next. Medigap premiums can increase from one year to the next.

Any increases must be given to all who have the same coverage in the same area and are the same age.  You cannot be singled out for an increase because of your use of the plan benefits.

There are several ways an insurance company may rate its Medigap policies:

  • Attained Age: The rates will go up when you reach certain age plateaus such as age 70, 75, and 80.
  • Issue Age: Under this method you stay in the same rate bracket as when you joined the policy. While your rates may go up each year, you will still be paying what others are paying who are the same age as you were at the time of issue. For example, if you buy an Issue Age Medigap policy at age 65, you will continue to pay what 65 year olds under that plan are paying even when you are 75 years old.
  • No age rating, also called Community Rating. A few insurance companies will charge the same rate for everyone under the same plan regardless of their age.  Frequently called "association plans", this type of rating is not very common since it tends to attract older clients who would have to pay much more under either the Attained Age or Issue Age methods. 

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