Los Angeles, CA, May 10, 2017 --(PR.com
)-- "A typical senior turning 65 can save $50,000 simply by selecting the right Medicare Supplement insurance coverage," explains Jesse Slome, director of the American Association for Medicare Supplement Insurance (AAMSI). The national organization hosts the nation's leading online directory that allows consumers to find and connect with local Medicare Supplement insurance agents.
"Each Medicare Supplement or Medigap insurance company sets it's own prices and they can vary, sometimes significantly," Slome shares. According to AAMSI's 2017 Price Index, the national average spread between the low and high price charged a 65-year old individual was 121 percent.
"Medicare Supplement prices can vary even from one Zip Code to the one next door," Slome adds. "In Phoenix, for example, the lowest cost Medigap Plan F for a 65-year old costs $148 a month; the highest costs $380 monthly, a $2,784 yearly difference," Slome points out. "Life expectancy for a 65-year-old is now 84, so making the right choice has the potential to save over $52,000."
One of the smartest moves Slome recommends is spending an hour with a Medicare insurance professional. "Some agents only represent or sell policies from one company while others offer coverage from multiple carriers," he explains. "It's vital to ask how many insurers an agent is appointed with."
The Association solicited ways to reduce costs for Medicare Supplement insurance and posted tips and ways to save on the Association's website. "We have several hundred agents listed on the Find A Medigap Agent online directory and the savings tips they share can help someone save $50,000 or more during their lifetime," Slome concludes. "The directory is the only independent national resource listing Medicare agents and we proudly offer the information that can be so beneficial to seniors."
To read the latest tips on saving money go to: www.medicaresupp.org/save-medicare-supplement-insurance or visit the Association's website.