Medigap Premiums by State - A Comprehensive Guide

Medigap premiums vary significantly from state to state, with some states offering more affordable options than others.

In California, the average Medigap premium is around $180 per month, while in New York, it can range from $200 to over $300 per month.

In Florida, the most popular Medigap plan, Plan F, costs an average of $150 per month, while in Texas, the same plan costs around $120 per month.

Medigap premiums are typically higher in states with higher costs of living, such as New York and California.

The American Association for Medicare Supplement Insurance (AAMSI) has reported the lowest and highest Medigap Plan G costs for all 50 states.

Some 14 million Americans own Medicare Supplement insurance, also commonly called Medigap.

The lowest monthly cost found was for Terrace Park, Ohio, where a 65-year-old woman could get covered for as little as $78.21 a month.

The highest available cost was $428.72 in Greenwich, Connecticut.

The average monthly premium for Medigap policies was lowest in Wisconsin, Hawaii, and Iowa at around $102 monthly.

New York had the highest average monthly premium for Medigap plans, which was $304.72 per month.

Here is a list of the top 5 states with the lowest average monthly premium for Medigap policies:

The average monthly premium for Medigap policies varies depending on the state, and it's essential to research and compare prices before making a decision.

In some states, consumers have as many as 20 different insurance companies offering a Medigap Plan G plan.

It's also crucial to consider a company's history of rate increases when choosing a plan for the first time.

Access the 2022 Medigap Premiums By State report on the organization's website for more information.

The cost of Medigap premiums can vary significantly from state to state. In Wisconsin, Hawaii, and Iowa, the average monthly premium for Medigap policies is around $102 monthly.

To find the most affordable option, you need to compare Medigap plans with the same letter from different insurance companies. For example, compare Plan G from one company with Plan G from another company.

You can expect big differences in premiums between insurance companies selling the same coverage. The estimated costs of Medigap plans will give you an idea of what to expect, but be sure to contact the insurance company for a more accurate price.

The cost of your Medigap policy may also depend on whether the insurance company offers discounts. Some companies offer discounts for women, non-smokers, or married people, as well as for paying premiums yearly or using electronic funds transfer.

Here's a list of the average monthly premiums for Medigap policies in every state:

If you're looking to retire in a state with low Medigap premiums, consider Wisconsin, Hawaii, and Iowa, which have the lowest average monthly premiums at around $102.

Massachusetts has the highest average annual price for Medigap plans at $1,947.

Hawaii is also one of the cheapest states for Medigap plans, with an average annual price of $1,310.

New York has the highest average monthly premium for Medigap plans at $304.72.

Here's a list of the top 5 states with the lowest average monthly Medigap premiums:

If you're eligible for discounts, you may be able to save on Medigap costs. Women, non-smokers, and people with multiple policies may qualify for lower premiums.

In some states, paying premiums yearly or via electronic funds transfer may also qualify you for a discount.

Medigap premiums can vary significantly depending on the state you live in. In fact, the lowest monthly cost for a 65-year-old woman was found in Terrace Park, Ohio, at just $78.21.

The American Association for Medicare Supplement Insurance analyzed pricing for an age-65 female applicant and found that some states have significantly higher premiums than others. For example, Greenwich, Connecticut had the highest available cost at $428.72 per month.

In some places, consumers have as many as 20 different insurance companies offering a Medigap Plan G plan, making it essential to shop around and compare prices. The Association's report highlights the importance of considering factors beyond just price, such as a company's history of rate increases.

Here's a breakdown of the average monthly premium for Medigap plans by state:

The highest average annual prices for Medigap plans were found in Massachusetts ($1,947), Nevada ($1,904), and Louisiana ($1,897).