different rates in different states

Jan 31, 2007

  1. maryjd123
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    maryjd123 Super Genius

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    this has probably been asked before -- but

    i just did some research for a person -- i called and got the rates for Georgia -- for medsups -- and the difference between Wyoming and Georgia --- $100 difference per month --- why is that??? I don't understand -- my brother-in-law lives in Atlanta - yes he is doing good as a computer analysist for a great company, his wife is a pharmacist and they own a house at 300k -- but the question is why does it cost so much to live in different areas? maybe im being stupid in asking the question -- i had suggested -- they need to move... i guess its just like on hgtv -- open house - national house hunters -- where you have one house with 2 bedrooms at 400k and in texas it would be worth 40k -- i guess its all where you live -- maybe im answering my own question...
    to each his own
     
  2. salpro22
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    salpro22 Guru

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    It is because of the theory entailing supply and demand. When the supply is limited and demand is high prices go up (i.e., think about the most recent craze over playstation 3). When the demand is low and supply is high, prices go down (i.e. the real estate prices in some areas. Combine that with market psychology and you start to see how the world works.

    Exactly the idea. Here in the Baltimore area I can get a nice house (4000ish square feet for around $650,000 average, cut that in half up in Stamford, CT and you still pay the same price but for half the space). However, in areas like SC, NC and Texas, I can get a VERY nice house for about the same price depending on the location and have a lot more LAND. It all boils down to what attracts consumers to an area. Want to know why prices in New Mexico are low. Because not many people want to live in that state. People will always pay more when they are acting primarily on emotionals and it is the emotional audiences who the producers of the aforementioned shows and news stations target. Better to think about things logically and with a little bit of emotion versus the alternative.
     
  3. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    I dare say more people want to live in Georgia than in Wyoming.

    No disrespect to people in Wyoming, just the facts. Supply and demand, the basic economic law of the land.
     
  4. Sam
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    Sam Founder Administrator

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    I think that Wyoming has some of the nations most restrictive laws, for insurance companies to operate in their state. To the best of my knowledge, the only true HMO in the state is Blue.
    Government restrictions, especially underwriting restriction, will dictate to a large degree, the range of premiums for a state.
     
  5. sman
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    sman Guru

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    State:
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    Not only that:

    Wyoming population 509,294 spread out over 97,000 square miles. That's about 5 people per square mile.

    Georgia population 9,072,576 spread out over 57,906 square miles. That's about 141 people per square mile.

    Much more industry in Georgia as well. And yes, all about supply and demand.

    The biggest factor on Medicare Supplement rates is based on claims experience in each area. Within Georgia, the carrier I use for Med Supps has 2 sets of rates. While both are cheap, one is less expensive than the other and those cheaper rates are in the rural areas.
     
  6. Crabcake Johnny
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    Crabcake Johnny Guru

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    I could definitely live in Wyoming and the COI would be far less than were I live. But then I'd be in Wyoming.
     
  7. James
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    James Guru

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    I love Wyoming, I also love the logo (I'm thinking its Wyoming or maybe Dakota?) "Please come visit but please don't Stay here!", I love that! Makes me want to mover there, my kind of people!
     
  8. maryjd123
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    maryjd123 Super Genius

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    Well i'll tell ya if it wasn't for the wind blowing 70 miles an hour every time i turn around it would be great

    every day is sunday

    and for senior business its a gold mine

    we have been here for almost 4 years == its time to retire from the military and move back to civilization... just not sure if we want to yet..
    i kinda like having no traffic and no murders == and im not worried about my 16 year old out driving on the road
     
  9. salpro22
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    salpro22 Guru

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    F.E. Warren perhaps?
     
  10. maryjd123
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    maryjd123 Super Genius

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