by Russell Noga | Updated November 6th, 2023
Are you looking for a quote on Medicare supplement insurance policies? Private healthcare insurers like Mutual of Omaha, Allstate, and Aetna all sell Medicare supplement plans known as “Medigap.”
So, do you have to get a quote directly from healthcare providers? Or is there an easier way?
If you do it yourself, you’ll need to call around the local insurers offering Medigap in your area.
You’ll discover they all sell the same plans but at different price points.
So, you’ll need to compare quotes from these firms and decide on the most affordable option.
Or you could let our professionals do it for you. A licensed Medigap agent with Medisupps.com can make these inquiries for you, sourcing you multiple quotes from the leading insurers offering Medigap in your state.
Our agents can help save you the time and hassle of calling around trying to find the best rate.
This post looks at the best way to get Medicare supplement quotes.
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What Coverage Do You Get with Medicare Supplement Plans?
Medigap plans come in ten different offerings. Each plan has a different level of coverage and comes with a different premium. The more comprehensive the plan, the more expensive the monthly premiums.
However, the Medigap range has a lot to offer, and there’s a plan to suit your budget and healthcare requirements.
The Federal government (CMS) standardizes the benefits of each Medigap plan across the industry. So, the benefits you get in Plan G from Humana will be the same as those with a Plan G policy from Cigna.
All Medigap plans offer the following benefits.
- Part A coinsurance and hospital costs for up to 365 days after using Medicare benefits.
- Part A hospice care coinsurance or copayment.
- Part B coinsurance or copayment.
- Blood transfusion costs for the first three pints of blood.
Plans F*, G, and N offer additional Medicare Parts A & B benefits.
- Part A deductible.
- Part B excess charges (Plan N doesn’t cover these charges).
- Skilled nursing facility care coinsurance.
- 80% of emergency healthcare costs when traveling outside the US for 60 days. ($250 deductible and $50,000 maximum apply).
- Unlimited coverage for all out-of-pocket costs.
*You need to be eligible for Medicare before January 1, 2020, to qualify for Plan F.
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Understanding Medicare Supplement Premiums
Medicare Supplement Premiums by Age
Medicare supplement insurers use your age as part of their risk assessment for insuring you. Typically, the carrier uses one of the following three age models when setting your premiums.
- Community-rated – Regardless of age, all policyholders receive the same monthly premium.
- Attained age-rated – The premium is based on your age when applying for a Medigap plan. The rate increases as you get older. These premiums often start lower but get more costly as you age.
- Issue age-rated – The insurers base your premium on your age at the date of application. The younger you are, the lower the premium. This premium remains constant and doesn’t increase as you age.
Medicare Supplement Premiums by Gender
Medigap insurers use your gender to assess the risk you present to their Medigap scheme. Women don’t experience the same chronic conditions as men as they age. For instance, there’s more chance of men experiencing heart attacks or diabetes as they age. So, men will pay more in Medigap premiums than women.
Medicare Supplement Premiums by Health Status
If you apply join a Medigap plan in the “Open Enrollment” period in the six months after your 65th birthday, the insurer must accept your application. If you have pre-existing conditions, they can’t deny your application or charge you an above-average rate for your plan.
However, the insurer can ask you to complete medical underwriting if you wait beyond this Open Enrollment period to join and don’t have any special guaranteed issue rights. If you have a pre-existing condition, they can charge you higher-than-average premiums or deny your application to join their Medigap scheme.
Medicare Supplement Premiums by Location
Where you live in the United States plays a role in the cost of your monthly Medigap premium. Some states and cities have higher premiums than others due to the risk of living in that area and the demands it places on your health and lifestyle.
For instance, if you live in New York, you’ll pay a higher monthly premium than if you live in South Dakota. Some providers charge more for policies than others, but they might be your state’s lowest or highest-cost option.
For instance, Mutual of Omaha might be the cheapest option for Plan N in your state but the most expensive option for Plan G. However, they also might be the most costly option for Plan N in another state and the lowest-cost provider of Plan G.
That’s why shopping around and getting multiple quotes on any plan you want to join is important. Don’t assume that one company will be a better deal than another or that all providers charge the same monthly premiums.
Why Use a Licensed Agent for Medicare Supplement Quotes?
A licensed Medigap agent can help you find the best rate on any plan in your state. They work with all the insurers, and they’ll get you the best deal and range of perks for your policy.
The agent assists you with enrolling in your Medigap plan and advises you on the right time of year to apply and how to avoid medical underwriting.
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Frequently Asked Questions
How can I get Medicare Supplement quotes?
You can view Medicare supplement quotes by entering your zip code anywhere on our website.
Another option is to call us today at 1-888-891-0229.
What information do I need to get Medicare Supplement quotes?
To get accurate Medicare Supplement quotes, you will typically need to provide some basic information such as your age, zip code, gender, and whether you are a tobacco user. These details help insurance companies determine the premium rates based on your demographic and health factors.
What factors can influence Medicare Supplement quotes?
Medicare Supplement quotes are influenced by several factors including your age, gender, location, tobacco usage, and the specific plan you choose. Insurance companies may also consider underwriting factors, such as your health history, which can impact the quoted premiums.
What is the difference between Medicare Plan G and Plan N?
Medicare Plan G and Plan N are two popular Medigap plans. Plan G offers comprehensive coverage, including coverage for Medicare Part A and Part B deductibles, excess charges, and skilled nursing facility coinsurance. Plan N has cost-sharing requirements, such as copayments for certain services. The difference in coverage helps determine the cost difference between the two plans.
Should I get quotes for both Medicare Plan G and Plan N?
It’s recommended to get quotes for both Medicare Plan G and Plan N to compare the coverage and costs. By evaluating the premiums and benefits of each plan, you can make an informed decision based on your healthcare needs and budget.
Are Medicare Supplement quotes the same for everyone?
No, Medicare Supplement quotes can vary from person to person based on several factors, including age, gender, location, and the insurance company providing the quotes. Each individual’s health status and specific coverage needs also contribute to the variation in quotes.
Can I switch Medicare Supplement plans based on the quotes I receive?
Yes, you have the flexibility to apply to switch Medicare Supplement plans based on the quotes you receive. However, it’s important to carefully review the coverage, costs, and benefits of each plan and consider your specific healthcare needs before making a decision. It’s also advised to consult with one of our licensed insurance agents to ensure a smooth transition.
Can I negotiate the quoted premiums for Medicare Supplement plans?
No, you cannot negotiate the quoted premiums for Medicare Supplement plans. The premiums are set by the insurance companies based on factors such as age, location, and plan choice.
However, by comparing quotes from different insurance carriers, you can find a plan with the most competitive premium rates for your situation.
Call Us for Free Medicare Supplement Quotes
If you want a free quote on Medigap plans, call our fully licensed agents at 1-888-891-0229. We’ll assist you with getting the most affordable rate on any plan you want. We work with all the Medigap insurers in our state, and we’re confident we can get you the best rate.
If you can’t speak to us right now, leave your contact details, and we’ll get an agent to call you back for a free consultation. Alternatively, you can use the tool on our site to get a free automated quote on any Medigap plan in any state.
Russell Noga is the CEO and Medicare editor of Medisupps.com. His 15 years of experience in the Medicare insurance market includes being a licensed Medicare insurance broker in all 50 states. He is frequently featured as a featured as a keynote Medicare event speaker, has authored hundreds of Medicare content pages, and hosts the very popular Medisupps.com Medicare Youtube channel. His expertise includes Medicare, Medigap insurance, Medicare Advantage plans, and Medicare Part D.