Charlotte, NC, September 01, 2018 --(PR.com
)-- The difference between the least costly and most expensive Medicare Supplement insurance policy in major cities across North Carolina can vary by as much as 142.5 percent according to the 2018 Cost Comparison by the American Association for Medicare Supplement Insurance (AAMSI), an industry trade organization.
"While Medicare Supplement insurance policies are standardized, each insurer offering policies in North Carolina sets their own prices and the difference between the lowest and highest monthly cost can be significant," explains Jesse Slome, director of the Association. AAMSI compared rates for both men and women age 65 across major U.S. markets.
For four cities reported, the costs and difference between the lowest available cost were uniform according to AAMSI. "The difference was 133.5 percent for a 65-year old woman purchasing Plan F coverage," Slome shares. The difference for a comparable male was 142.5 percent. Medigap Plan F is the most popular option among seniors accounting for nearly 60 percent of all sales. The terms Medicare Supplement and Medigap are used interchangeably.
The lowest cost for a 65-year-old female purchasing a Medigap Plan F policy was $117.50-per-month. The highest cost for Plan F was $315.49 for a male age 65 according to the analysis. Details of the 2018 cost comparison findings for North Carolina Medicare Supplement costs for Charlotte, Durham, Greensboro and Winston-Salem can be accessed via the organization's website.
"We don't necessarily recommend buying the least expensive Medigap policy," Slome admonished. "But we do recommend Pennsylvania seniors learn about cost differences before locking into a policy or a particular insurance company."
The Association provides free access to a national Find A Local Medicare Insurance Agent online directory providing information on nearly 1,000 professionals listed by Zip Code. No information need be entered to access the director at the Association's website, www.MedicareSupp.org.
The American Association for Medicare Supplement Insurance advocates for the importance of planning and supports insurance professionals who market Medicare-related insurance products. The organization's website contains relevant research and information designed to help consumers make educated choices in their planning.