So much attention is focused on Medicare Advantage, Medicare Supplement (Medigap) is often overlooked, says Jesse Slome, director of American Association for Medicare Supplement Insurance.
It shouldn’t be — because 14 million Americans own a Medigap policy … and because it provides a very viable option for seniors, Slome adds.
In 2023, Slome says the Association is focused on delivering two important messages to consumers:
- Medigap is a viable option (even though it’s not the one you see celebrity spokespeople pitching on cable TV).
- Medicare is national BUT plan options are local. A local agent or broker should be included in the people you speak with when looking at Medicare plans.
“With that in mind, we just released the lowest 2023 prices for Medicare Supplement insurance (Plan G) for women turning age 65 in each state.”
Here’s some quick info, while a link to the full data is below.
- Medigap Plan G is the most popular Medigap plan choice among men and women turning 65. (51% chose Plan G, 38% chose Plan N).
- Lowest Monthly Rate found in Iowa: $78.65; Lowest Monthly Rate in Manhattan (NYC): $278.25
- While the lowest available Plan G was $78.65 in Iowa (Zip Code 50061), the highest for same Zip Code is $192.09. For New York City, the highest available Plan G is $476.04.
In Slome’s analysis of Plan G, he makes an important point that no insurance company was always the least expensive. And no insurance company was always the most expensive. “That’s why we stress the importance of comparison shopping,” Slome says.
Here’s the link to see the information: www.medicaresupp.org/best-g/