Friday, July 27, 2012
Incomplete Preventive Services Email from Medicare
I recently (mid-July) got an “Important Message” email from the Centers for Medicare & Medicaid Services (CMS) which had the months from July 2012 to June 2013 blocked out along with a reminder that my annual wellness visit could be scheduled for September. This is a handy prompt and it was accurate in that this was one year after my last such check-up. But it is also quite incomplete. This is because men my age (65 and up) are also eligible for annual colorectal cancer screening, prostrate cancer screening, HIV screening and, of course, the annual flu shot, not to mention many other services if you are pre-diabetic, etc. (All these available for 2012 are on my section on Self-Counsel Press’s website.)
I have noticed in the past that MyMedicare.gov (where you sign into your personal account) has never had info about preventive services totally correct, and their excuse seems a little lame. But it’s a bit more accurate than the email, because it did note that I’m due for a prostrate test. (Perhaps the email can only handle one service per month?) So when you get your email, use it not as a comprehensive list, but as a reminder to line up and get all the preventive, screening and educational services you are eligible for.
Sunday, July 8, 2012
FLORIDA MEDIGAP POLICIES AVAILABLE IN 2012
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information for those age 65, which is when most beneficiaries get a Medigap policy, on the number of regular (or fee-for-service) policies available, the lowest priced one available, the highest priced one available, and the average price. This information is given first for females, and then for males, as the prices usually differ. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show. In addition, I repeat similar information for SELECT or network Medigap policies. Recall that these Medigap policies require you to go to physicians and providers which are in the Medigap insurance company’s network of providers for complete payment; on the other hand, they may be a little cheaper than regular policies. (With a regular or fee-for-service policy, you can go to any doctor, hospital or provider who will accept it, and almost all do.)
You should understand that I have drawn information for the prices in Hillsboro County as this is somewhat representative of the state of Florida as a whole. Prices are substantially higher if you live in the Miami area; if you live in Walton County they are the same or a bit less. All this information, which was up-to-date in January of 2012, comes from the Florida Office of Insurance Regulation website, www.floir.com, which has more detailed information on these policies.
It is interesting to note that the prices for males tend to be just a little more expensive than those for females, but many companies sell their policies for the same price, and, almost without exception, the lowest price available for each policy type for a female is also available to a male. And, in general, if you are above age 65, note that the prices for policies will be about 15% higher at age 70, and about 33% higher at age 75.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. But remember that the prices may vary because the policies are priced or “rated” with different methodologies. (The “attained-age” policies go up in price as you age, but may be the least costly to begin with. “Issue-age” policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. “Community-rated” policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications. These terms are more extensively covered in Managing Your Medicare.) It is interesting to note, that for beneficiaries age 65, there are not huge differences in Florida in the prices of Medigap policies as there are in many other states, but prices do vary substantially. Please understand that the prices shown here and what you are quoted will vary somewhat because of how and how often you pay your premium, whether you smoke, where you live in Florida, etc., etc., so use these as guides rather than exact “matches.” The dollar amounts shown below are the annual cost of the policies. And note that in some cases a policy is available only to members of a particular group.
Policy A:
The lowest price available is $1,331, the highest is $1,956, and the average is $1,699.
This is the “basic” policy. 27 different policies are available. No SELECT “A” policies are available.
Policy B:
The lowest price available is $1,764, the highest is $2,604, and the average is $2,072.
On the whole, these cost about 22% more than Policy A. 19 different policies are available.
One SELECT policy ($1,517) is also available.
Policy C:
The lowest price available is $2,046, the highest is $2,717, and the average is $2,375.
On the whole, these cost about 40% more than Policy A. 19 different policies are available.
Four SELECT policies are also available; the lowest price is $1,635, the highest is $2,451.
These are popular.
Policy D:
The lowest price available is $1,917, the highest is $2,484, and the average is $2,178.
On the whole, these cost about 28% more than Policy A. 14 different policies are available.
Three SELECT policies are also available; the lowest price is $1,634, the highest is $2,188.
Policy F:
The lowest price available is $2,058, the highest is $2,896, and the average is $2,414.
On the whole, these cost about 42% more than Policy A. 27 different policies are available.
Five SELECT policies are also available; the lowest price is $1,647, the highest is $2,458.
These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $624, the highest is $1,082, and the average is $865.
On the whole, these cost about 49% less than Policy A. 10 different policies are available. Remember that you pay the first $2,070 of your medical expenses in 2012 before it kicks in.
No SELECT “F – High Deductible” policies are available.
Policy G:
The lowest price available is $1,929, the highest is $2,493, and the average is $2,190.
On the whole, these cost about 29% more than Policy A. 16 different policies are available.
Two SELECT policies are also available; the lower price is $1,767, the higher is $2,105.
Policy K:
The lowest price available is $816, the highest is $1,303, and the average is $1,103.
On the whole, these cost about 35% less than Policy A. 4 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
No SELECT “K” policies are available.
Policy L:
The lowest price available is $1,227, the highest is $1,923, and the average is $1,627.
the whole, these cost about 4% less than Policy A. 6 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
No SELECT “L” policies are available.
Policy M:
The lowest price available is $1,823, the highest is $2, 216, and the average is $2,021.
On the whole, these cost about 19% more than Policy A. 7 different policies are available.
One SELECT policy ($1,624) is also available.
This policy is very new.
Policy N:
The lowest price available is $1,485, the highest is $2,325, and the average is $1,895.
On the whole, these cost 12% more than Policy A. 15 different policies are available.
No SELECT “N” policies are available.
This policy is very new.
Policy A:
The lowest price available is $1,331, the highest is $2,213, and the average is $1,827.
This is the “basic” policy. 27 different policies are available.
No SELECT “A” policies are available.
Policy B:
The lowest price available is $1,764, the highest is $2,996, and the average is $2,214.
On the whole, these cost about 21% more than Policy A. 19 different policies are available.
One SELECT policy ($1,517) is also available.
Policy C:
The lowest price available is $2,046, the highest is $3,124, and the average is $2,515.
On the whole, these cost about 38% more than Policy A. 19 different policies are available.
Four SELECT policies are also available; the lowest price is $1,635, the highest is $2,640.
These are popular.
Policy D:
The lowest price available is $1,917, the highest is $2,858, and the average is $2,323.
On the whole, these cost about 27% more than Policy A. 14 different policies are available.
Three SELECT policies are also available; the lowest price is $1,634, the highest is $2,357.
Policy F:
The lowest price available is $2,058, the highest is $3,333, and the average is $2,590.
On the whole, these cost about 42% more than Policy A. 27 different policies are available.
Five SELECT policies are also available; the lowest price is $1,647, the highest is $2,647.
These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $717, the highest is $1,244, and the average is $975.
On the whole, these cost about 47% less than Policy A. 10 different policies are available. Remember that you pay the first $2,070 of your medical expenses in 2012 before it kicks in.
No SELECT “F – High Deductible” policies are available.
Policy G:
The lowest price available is $1,929, the highest is $2,869, and the average is $2,378.
On the whole, these cost about 30% more than Policy A. 16 different policies are available.
Two SELECT policies are also available; the lower price is $2,031, the higher is $2,392.
Policy K:
The lowest price available is $816, the highest is $1,499, and the average is $1,173.
On the whole, these cost about 36% less than Policy A. 4 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
No SELECT “K” policies are available.
Policy L:
The lowest price available is $1,227, the highest is $1,211, and the average is $1,721.
On the whole, these cost about 6% less than Policy A. 6 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
No SELECT “L” policies are available.
Policy M:
The lowest price available is $1,823, the highest is $2, 548, and the average is $2,239.
On the whole, these cost about 23% more than Policy A. 7 different policies are available.
One SELECT policy is available; it costs $1,624.
This policy is very new.
Policy N:
The lowest price available is $1,485, the highest is $2,676, and the average is $2,089.
On the whole, these cost 14% more than Policy A. 15 different policies are available.
No SELECT “N” policies are available.
This policy is very new.
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information for those age 65, which is when most beneficiaries get a Medigap policy, on the number of regular (or fee-for-service) policies available, the lowest priced one available, the highest priced one available, and the average price. This information is given first for females, and then for males, as the prices usually differ. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show. In addition, I repeat similar information for SELECT or network Medigap policies. Recall that these Medigap policies require you to go to physicians and providers which are in the Medigap insurance company’s network of providers for complete payment; on the other hand, they may be a little cheaper than regular policies. (With a regular or fee-for-service policy, you can go to any doctor, hospital or provider who will accept it, and almost all do.)
You should understand that I have drawn information for the prices in Hillsboro County as this is somewhat representative of the state of Florida as a whole. Prices are substantially higher if you live in the Miami area; if you live in Walton County they are the same or a bit less. All this information, which was up-to-date in January of 2012, comes from the Florida Office of Insurance Regulation website, www.floir.com, which has more detailed information on these policies.
It is interesting to note that the prices for males tend to be just a little more expensive than those for females, but many companies sell their policies for the same price, and, almost without exception, the lowest price available for each policy type for a female is also available to a male. And, in general, if you are above age 65, note that the prices for policies will be about 15% higher at age 70, and about 33% higher at age 75.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. But remember that the prices may vary because the policies are priced or “rated” with different methodologies. (The “attained-age” policies go up in price as you age, but may be the least costly to begin with. “Issue-age” policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. “Community-rated” policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications. These terms are more extensively covered in Managing Your Medicare.) It is interesting to note, that for beneficiaries age 65, there are not huge differences in Florida in the prices of Medigap policies as there are in many other states, but prices do vary substantially. Please understand that the prices shown here and what you are quoted will vary somewhat because of how and how often you pay your premium, whether you smoke, where you live in Florida, etc., etc., so use these as guides rather than exact “matches.” The dollar amounts shown below are the annual cost of the policies. And note that in some cases a policy is available only to members of a particular group.
Florida Medigap Policies Females, Age 65
Policy A:
The lowest price available is $1,331, the highest is $1,956, and the average is $1,699.
This is the “basic” policy. 27 different policies are available. No SELECT “A” policies are available.
Policy B:
The lowest price available is $1,764, the highest is $2,604, and the average is $2,072.
On the whole, these cost about 22% more than Policy A. 19 different policies are available.
One SELECT policy ($1,517) is also available.
Policy C:
The lowest price available is $2,046, the highest is $2,717, and the average is $2,375.
On the whole, these cost about 40% more than Policy A. 19 different policies are available.
Four SELECT policies are also available; the lowest price is $1,635, the highest is $2,451.
These are popular.
Policy D:
The lowest price available is $1,917, the highest is $2,484, and the average is $2,178.
On the whole, these cost about 28% more than Policy A. 14 different policies are available.
Three SELECT policies are also available; the lowest price is $1,634, the highest is $2,188.
Policy F:
The lowest price available is $2,058, the highest is $2,896, and the average is $2,414.
On the whole, these cost about 42% more than Policy A. 27 different policies are available.
Five SELECT policies are also available; the lowest price is $1,647, the highest is $2,458.
These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $624, the highest is $1,082, and the average is $865.
On the whole, these cost about 49% less than Policy A. 10 different policies are available. Remember that you pay the first $2,070 of your medical expenses in 2012 before it kicks in.
No SELECT “F – High Deductible” policies are available.
Policy G:
The lowest price available is $1,929, the highest is $2,493, and the average is $2,190.
On the whole, these cost about 29% more than Policy A. 16 different policies are available.
Two SELECT policies are also available; the lower price is $1,767, the higher is $2,105.
Policy K:
The lowest price available is $816, the highest is $1,303, and the average is $1,103.
On the whole, these cost about 35% less than Policy A. 4 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
No SELECT “K” policies are available.
Policy L:
The lowest price available is $1,227, the highest is $1,923, and the average is $1,627.
the whole, these cost about 4% less than Policy A. 6 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
No SELECT “L” policies are available.
Policy M:
The lowest price available is $1,823, the highest is $2, 216, and the average is $2,021.
On the whole, these cost about 19% more than Policy A. 7 different policies are available.
One SELECT policy ($1,624) is also available.
This policy is very new.
Policy N:
The lowest price available is $1,485, the highest is $2,325, and the average is $1,895.
On the whole, these cost 12% more than Policy A. 15 different policies are available.
No SELECT “N” policies are available.
This policy is very new.
Florida Medigap Policies Males, Age 65
Policy A:
The lowest price available is $1,331, the highest is $2,213, and the average is $1,827.
This is the “basic” policy. 27 different policies are available.
No SELECT “A” policies are available.
Policy B:
The lowest price available is $1,764, the highest is $2,996, and the average is $2,214.
On the whole, these cost about 21% more than Policy A. 19 different policies are available.
One SELECT policy ($1,517) is also available.
Policy C:
The lowest price available is $2,046, the highest is $3,124, and the average is $2,515.
On the whole, these cost about 38% more than Policy A. 19 different policies are available.
Four SELECT policies are also available; the lowest price is $1,635, the highest is $2,640.
These are popular.
Policy D:
The lowest price available is $1,917, the highest is $2,858, and the average is $2,323.
On the whole, these cost about 27% more than Policy A. 14 different policies are available.
Three SELECT policies are also available; the lowest price is $1,634, the highest is $2,357.
Policy F:
The lowest price available is $2,058, the highest is $3,333, and the average is $2,590.
On the whole, these cost about 42% more than Policy A. 27 different policies are available.
Five SELECT policies are also available; the lowest price is $1,647, the highest is $2,647.
These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $717, the highest is $1,244, and the average is $975.
On the whole, these cost about 47% less than Policy A. 10 different policies are available. Remember that you pay the first $2,070 of your medical expenses in 2012 before it kicks in.
No SELECT “F – High Deductible” policies are available.
Policy G:
The lowest price available is $1,929, the highest is $2,869, and the average is $2,378.
On the whole, these cost about 30% more than Policy A. 16 different policies are available.
Two SELECT policies are also available; the lower price is $2,031, the higher is $2,392.
Policy K:
The lowest price available is $816, the highest is $1,499, and the average is $1,173.
On the whole, these cost about 36% less than Policy A. 4 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
No SELECT “K” policies are available.
Policy L:
The lowest price available is $1,227, the highest is $1,211, and the average is $1,721.
On the whole, these cost about 6% less than Policy A. 6 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
No SELECT “L” policies are available.
Policy M:
The lowest price available is $1,823, the highest is $2, 548, and the average is $2,239.
On the whole, these cost about 23% more than Policy A. 7 different policies are available.
One SELECT policy is available; it costs $1,624.
This policy is very new.
Policy N:
The lowest price available is $1,485, the highest is $2,676, and the average is $2,089.
On the whole, these cost 14% more than Policy A. 15 different policies are available.
No SELECT “N” policies are available.
This policy is very new.
ALABAMA MEDIGAP POLICIES AVAILABLE IN 2012
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press
I have done an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. There is also a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. I also include some very brief information as to what these will cost for a beneficiary age 70. All this is harder to explain than it is to show.
A word of caution, though. This data was collected from the Alabama Department of Insurance website, www.aldoi.gov/PDF/Consumers/MedSupCompanies.pdf. Unlike many state’s similar websites, this one gives the information in a composite manner, and, for example, does not separate non-smoking (or non-tobacco use) rates from smokers’ rates, or male rates from female rates, or rates in one of the areas in the state from another (although it does separate by age). Rather, it gives only the very lowest price of each company’s policy type. So you will likely pay more, perhaps much more, than the information shows.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. But you will note significant differences in prices for the same policy type; and some of this may be due to restrictions, for example, a policy may not cover a pre-existing condition for a period of time, in other cases because the policies are priced or “rated” with different methodologies. (The “attained-age” policies go up in price as you age, but may be the least costly to begin with. “Issue-age” policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. “Community-rated” policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications. These terms are more extensively covered in Managing Your Medicare.) But a good deal of the variation appears just to be different prices for the same benefits. And, remember you will almost certainly pay more than the amounts shown; the dollar amounts below are the rounded monthly cost of the policies.
(NOTE: The prices for these run about 20% more for a beneficiary age 70.)
Policy A:
The lowest minimum price available is $77, the highest is $126, and the average is $93.
This is the “basic” policy. Some 20 different companies offer these.
Policy B:
The lowest minimum price available is $87, the highest is $152, and the average is $119.
On the whole, these cost about 28% more than Policy A. 11 different companies offer these.
Policy C:
The lowest minimum price available is $108, the highest is $158, and the average is $135.
On the whole, these cost about 45% more than Policy A. 11 different companies offer these. These are popular.
Policy D:
The lowest minimum price available is $93, the highest is $144, and the average is $117.
On the whole, these cost about 25% more than Policy A. 3 different companies offer these.
Policy F:
The lowest minimum price available is $109, the highest is $165 and the average is $135.
On the whole, these cost about 44% more than Policy A. 17 different companies offer these. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest minimum price available is $35 the highest is $53, and the average is $44.
On the whole, these cost about 53% less than Policy A. 7 different companies offer these. Remember that you pay the first $2,070 of your medical expenses in 2012 before it kicks in.
Policy G:
The lowest minimum price available is $94, the highest is $145, and the average is $108.
On the whole, these cost about 16% more than Policy A. 9 different companies offer these.
Policy K:
The lowest minimum price available is $56, the highest is $80, and the average is $63.
On the whole, these cost about 32% less than Policy A. 7 different companies offer these. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660
Policy L:
The lowest minimum price available is $84, the highest is $112, and the average is $93.
On the whole, these cost about the same as Policy A. 5 different companies offer these. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest minimum price available is $89, the highest is $112, and the average is $101.
On the whole, these cost about 8% more than Policy A. 3 different companies offer these. This policy is very new.
Policy N:
The lowest minimum price available is $77, the highest is $130, and the average is $98.
On the whole, these cost about 5% more than Policy A. 11 different companies offer these. This policy is very new.
If you email me at gjacobs23@windstream.net I will send you an Excel file which provides more information.
I have done an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. There is also a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. I also include some very brief information as to what these will cost for a beneficiary age 70. All this is harder to explain than it is to show.
A word of caution, though. This data was collected from the Alabama Department of Insurance website, www.aldoi.gov/PDF/Consumers/MedSupCompanies.pdf. Unlike many state’s similar websites, this one gives the information in a composite manner, and, for example, does not separate non-smoking (or non-tobacco use) rates from smokers’ rates, or male rates from female rates, or rates in one of the areas in the state from another (although it does separate by age). Rather, it gives only the very lowest price of each company’s policy type. So you will likely pay more, perhaps much more, than the information shows.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. But you will note significant differences in prices for the same policy type; and some of this may be due to restrictions, for example, a policy may not cover a pre-existing condition for a period of time, in other cases because the policies are priced or “rated” with different methodologies. (The “attained-age” policies go up in price as you age, but may be the least costly to begin with. “Issue-age” policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. “Community-rated” policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications. These terms are more extensively covered in Managing Your Medicare.) But a good deal of the variation appears just to be different prices for the same benefits. And, remember you will almost certainly pay more than the amounts shown; the dollar amounts below are the rounded monthly cost of the policies.
Medigap Policies –– Age 65
(NOTE: The prices for these run about 20% more for a beneficiary age 70.)
Policy A:
The lowest minimum price available is $77, the highest is $126, and the average is $93.
This is the “basic” policy. Some 20 different companies offer these.
Policy B:
The lowest minimum price available is $87, the highest is $152, and the average is $119.
On the whole, these cost about 28% more than Policy A. 11 different companies offer these.
Policy C:
The lowest minimum price available is $108, the highest is $158, and the average is $135.
On the whole, these cost about 45% more than Policy A. 11 different companies offer these. These are popular.
Policy D:
The lowest minimum price available is $93, the highest is $144, and the average is $117.
On the whole, these cost about 25% more than Policy A. 3 different companies offer these.
Policy F:
The lowest minimum price available is $109, the highest is $165 and the average is $135.
On the whole, these cost about 44% more than Policy A. 17 different companies offer these. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest minimum price available is $35 the highest is $53, and the average is $44.
On the whole, these cost about 53% less than Policy A. 7 different companies offer these. Remember that you pay the first $2,070 of your medical expenses in 2012 before it kicks in.
Policy G:
The lowest minimum price available is $94, the highest is $145, and the average is $108.
On the whole, these cost about 16% more than Policy A. 9 different companies offer these.
Policy K:
The lowest minimum price available is $56, the highest is $80, and the average is $63.
On the whole, these cost about 32% less than Policy A. 7 different companies offer these. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660
Policy L:
The lowest minimum price available is $84, the highest is $112, and the average is $93.
On the whole, these cost about the same as Policy A. 5 different companies offer these. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest minimum price available is $89, the highest is $112, and the average is $101.
On the whole, these cost about 8% more than Policy A. 3 different companies offer these. This policy is very new.
Policy N:
The lowest minimum price available is $77, the highest is $130, and the average is $98.
On the whole, these cost about 5% more than Policy A. 11 different companies offer these. This policy is very new.
If you email me at gjacobs23@windstream.net I will send you an Excel file which provides more information.
CALIFORNIA MEDIGAP POLICIES AVAILABLE IN 2012
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press
I have done an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. There is also a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show. Finally, you may wish to know that if you first purchase a policy at age 70, the price will run about 20 percent higher than these age 65 policies; and, if at age 75, about 45 percent higher. (Does not apply to community-rated policies.)
A word of caution, though. This data is for Los Angeles County, by far the most populous in the state. If you live in another county, your rates are most likely lower, but in some they are actually higher. But this data will give you an excellent feel for availability and relative pricing of Medigap policies for the entire Golden State. This data was collected from the California Department of Insurance website, www.insurance.ca.gov, in February, 2012. I’ve checked their information against some insurance company websites, and it appears very accurate.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. But you will note significant differences in prices for the same policy type; in almost all cases by a factor of 2, and in some cases, even more! Some of this may be due to differences in whether a waiting period applies to a pre-existing condition, and if so, how long it is; in other cases because the policies are priced or “rated” with different methodologies. (The “attained-age” policies go up in price as you age, but may be the least costly to begin with. “Issue-age” policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. “Community-rated” policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications. These terms are more extensively covered in Managing Your Medicare.) But a good deal of the variation appears just to be different prices for the same benefits. Remember also that you may be quoted a somewhat different price than I show; for example, it may be more if you smoke, or you may qualify for a discount if you sign up for auto-pay. The dollar amounts shown below are the annual cost of the policies.
Medigap Policies – Age 65 – LA County, California
Policy A:
The lowest price available is $1,042, the highest is $2,301, and the average is $1,484.
This is the “basic” policy. Some 28 different policies are offered.
Policy B:
The lowest price available is $1,430, the highest is $2,618, and the average is $1,832.
On the whole, these cost about 23% more than Policy A. 17 different policies are offered.
Policy C:
The lowest price available is $1,693, the highest is $3,012, and the average is $2,065.
On the whole, these cost about 39% more than Policy A. 16 different policies are offered. These are popular.
Policy D:
The lowest price available is $1,524, the highest is $2,430, and the average is $1,939.
On the whole, these cost about 31% more than Policy A. 9 different policies are offered.
Policy F:
The lowest price available is $1,644, the highest is $3,309, and the average is $2,141.
On the whole, these cost about 44% more than Policy A. 28 different policies are offered. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $395, the highest is $1,433, and the average is $776.
On the whole, these cost about 48% less than Policy A. 6 different policies are offered. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $1,461, the highest is $3,186, and the average is $2,080.
On the whole, these cost about 40% more than Policy A. 15 different policies are offered.
Policy K:
The lowest price available is $611, the highest is $1,203, and the average is $901.
On the whole, these cost about 39% less than Policy A. 6 different policies are offered. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $987, the highest is $1,750, and the average is $1,371.
On the whole, these cost about 8% less than Policy A. 8 different policies are offered. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $1,239, the highest is $2,195, and the average is $1,685.
On the whole, these cost about 14% more than Policy A. 7 different policies are offered. This policy is very new.
Policy N:
The lowest price available is $911, the highest is $2,100, and the average is $1,475.
On the whole, these cost about 2% less than Policy A. 15 different policies are offered. This policy is very new.
Saturday, July 7, 2012
TEXAS MEDIGAP POLICIES AVAILABLE IN 2012
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press
I have done an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. There is also, for standard policies, a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. I also include some very brief information as to what these will cost for a beneficiary age 70 and 75. All this is harder to explain than it is to show.
A word of caution, though. This data was collected from the Texas Department of Insurance website, www.tdi.texas.gov, in February, 2012. It gives, for each company, and for each policy type, the lowest and highest price, and you will be quoted a price within that bracket. Some of the factors which vary the price include where you live in Texas, your sex, whether or not you use tobacco, whether the policy is “guaranteed issue,” etc. And you may get a discount, for example, if you use auto-pay to pay your premiums.
Some Medigap policies are “attained-age rated,” some are “issue-age rated” and some are “community rated.” The attained-age policies go up in price as you age, but may be the least costly to begin with, and it appears that this type policy is common in Texas. Issue-age policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. Community-rated policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications.
With this in mind, remember that each type policy sold had the exact same benefits no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type; in almost all cases by a factor of 3, and in some cases, even more! The dollar amounts shown below are the annual cost of the policies. First we show all the information on standard or fee-for-service policies, and then, the information on SELECT or network policies.
Finally, you may wish to know that if you first purchase a policy at age 70, the price will run about 20 percent higher than these age 65 policies; and, if at age 75, about 45 percent higher.
Policy A:
The lowest price available is $817, the highest is $2,932, and the average is $1,445.
This is the “basic” policy. Some 48 different policies are available.
Policy B:
The lowest price available is $1,017, the highest is $3,339, and the average is $1,765.
On the whole, these cost about 22% more than Policy A. 22 different policies are available.
Policy C:
The lowest price available is $1,200, the highest is $3,796, and the average is $1,951.
On the whole, these cost about 35% more than Policy A. 26 different policies are available. These are popular.
Policy D:
The lowest price available is $1,029, the highest is $2,948, and the average is $1,706.
On the whole, these cost about 18% more than Policy A. 13 different policies are available.
Policy F:
The lowest price available is $1,011, the highest is $3,629, and the average is $1,919.
On the whole, these cost about 33% more than Policy A. 41 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $278, the highest is $1,263, and the average is $657.
On the whole, these cost about 55% less than Policy A. 17 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $1,045, the highest is $2,962, and the average is $1,664.
On the whole, these cost about 15% more than Policy A. 29 different policies are available.
Policy K:
The lowest price available is $574, the highest is $1,706, and the average is $961.
On the whole, these cost about 33% less than Policy A. 12 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $922, the highest is $2,400, and the average is $1,436.
On the whole, these cost about the same as Policy A. 9 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $962, the highest is $2,430, and the average is $1,458.
On the whole, these cost about the same as Policy A. 9 different policies are available. This policy is very new.
Policy N:
The lowest price available is $828, the highest is $2,885, and the average is $1,338.
On the whole, these cost about 7% less than Policy A. 32 different policies are available. This policy is very new.
These policies require you to go to physicians and providers which are in your Medigap insurer’s network for your insurer’s full payment. (As only one basic policy is offered, we don’t do price comparisons to it here.)
Policy A:
The lowest price available is $1,487, the highest is $1,693, and the average is $1,590.
This is the “basic” policy. Only 1 policy is available.
Policy B:
The lowest price available is $951, the highest is $1,723, and the average is $1,382.
4 different policies are available.
Policy C:
The lowest price available is $1,022, the highest is $2,230, and the average is $1,564.
6 different policies are available.
Policy D:
The lowest price available is $840, the highest is $1,745, and the average is $1,277.
6 different policies are available.
Policy F:
The lowest price available is $1,047, the highest is $3,368, and the average is $1,638.
12 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $480, the highest is $797, and the average is $632.
2 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $856, the highest is $1,780, and the average is $1,366.
8 different policies are available.
Policy K:
The lowest price available is $612, the highest is $960, and the average is $799.
2 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $1,104, the highest is $1,356, and the average is $1,230.
Only 1 policy is available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $923, the highest is $1,534, and the average is $1,216.
2 different policies are available. This policy is very new.
Policy N:
The lowest price available is $722, the highest is $1,459, and the average is $1,089.
7 different policies are available. This policy is very new.
I have done an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. There is also, for standard policies, a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. I also include some very brief information as to what these will cost for a beneficiary age 70 and 75. All this is harder to explain than it is to show.
A word of caution, though. This data was collected from the Texas Department of Insurance website, www.tdi.texas.gov, in February, 2012. It gives, for each company, and for each policy type, the lowest and highest price, and you will be quoted a price within that bracket. Some of the factors which vary the price include where you live in Texas, your sex, whether or not you use tobacco, whether the policy is “guaranteed issue,” etc. And you may get a discount, for example, if you use auto-pay to pay your premiums.
Some Medigap policies are “attained-age rated,” some are “issue-age rated” and some are “community rated.” The attained-age policies go up in price as you age, but may be the least costly to begin with, and it appears that this type policy is common in Texas. Issue-age policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. Community-rated policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications.
With this in mind, remember that each type policy sold had the exact same benefits no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type; in almost all cases by a factor of 3, and in some cases, even more! The dollar amounts shown below are the annual cost of the policies. First we show all the information on standard or fee-for-service policies, and then, the information on SELECT or network policies.
Finally, you may wish to know that if you first purchase a policy at age 70, the price will run about 20 percent higher than these age 65 policies; and, if at age 75, about 45 percent higher.
Standard or “Fee-for-Service” Medigap Policies – Age 65 – Texas
Policy A:
The lowest price available is $817, the highest is $2,932, and the average is $1,445.
This is the “basic” policy. Some 48 different policies are available.
Policy B:
The lowest price available is $1,017, the highest is $3,339, and the average is $1,765.
On the whole, these cost about 22% more than Policy A. 22 different policies are available.
Policy C:
The lowest price available is $1,200, the highest is $3,796, and the average is $1,951.
On the whole, these cost about 35% more than Policy A. 26 different policies are available. These are popular.
Policy D:
The lowest price available is $1,029, the highest is $2,948, and the average is $1,706.
On the whole, these cost about 18% more than Policy A. 13 different policies are available.
Policy F:
The lowest price available is $1,011, the highest is $3,629, and the average is $1,919.
On the whole, these cost about 33% more than Policy A. 41 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $278, the highest is $1,263, and the average is $657.
On the whole, these cost about 55% less than Policy A. 17 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $1,045, the highest is $2,962, and the average is $1,664.
On the whole, these cost about 15% more than Policy A. 29 different policies are available.
Policy K:
The lowest price available is $574, the highest is $1,706, and the average is $961.
On the whole, these cost about 33% less than Policy A. 12 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $922, the highest is $2,400, and the average is $1,436.
On the whole, these cost about the same as Policy A. 9 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $962, the highest is $2,430, and the average is $1,458.
On the whole, these cost about the same as Policy A. 9 different policies are available. This policy is very new.
Policy N:
The lowest price available is $828, the highest is $2,885, and the average is $1,338.
On the whole, these cost about 7% less than Policy A. 32 different policies are available. This policy is very new.
SELECT or Network Medigap Policies – Age 65 – Texas
These policies require you to go to physicians and providers which are in your Medigap insurer’s network for your insurer’s full payment. (As only one basic policy is offered, we don’t do price comparisons to it here.)
Policy A:
The lowest price available is $1,487, the highest is $1,693, and the average is $1,590.
This is the “basic” policy. Only 1 policy is available.
Policy B:
The lowest price available is $951, the highest is $1,723, and the average is $1,382.
4 different policies are available.
Policy C:
The lowest price available is $1,022, the highest is $2,230, and the average is $1,564.
6 different policies are available.
Policy D:
The lowest price available is $840, the highest is $1,745, and the average is $1,277.
6 different policies are available.
Policy F:
The lowest price available is $1,047, the highest is $3,368, and the average is $1,638.
12 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $480, the highest is $797, and the average is $632.
2 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $856, the highest is $1,780, and the average is $1,366.
8 different policies are available.
Policy K:
The lowest price available is $612, the highest is $960, and the average is $799.
2 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $1,104, the highest is $1,356, and the average is $1,230.
Only 1 policy is available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $923, the highest is $1,534, and the average is $1,216.
2 different policies are available. This policy is very new.
Policy N:
The lowest price available is $722, the highest is $1,459, and the average is $1,089.
7 different policies are available. This policy is very new.
NEW YORK MEDIGAP POLICIES AVAILABLE IN 2012
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies. There is no need to go into explaining the new structure; this is all spelled out in detail in Managing Your Medicare, on page 157.
But what I have available here is information on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show.
In New York, the state is divided into ten general areas where Medigap policies may be priced differently. I have somewhat arbitrarily run my analysis on three of these areas. One covers New York City, Long Island, and parts of Westchester, which, of course, includes the vast majority of Medicare beneficiaries, and which tends to have the highest premiums in the state. The next is the Buffalo area, which is the part of the state with ZIP codes beginning with 140-143 &147; it’s the second most populous area. The last is the Watertown area (ZIPs beginning 136), and which has the state’s cheapest policies, and possibly the fewest beneficiaries. If you live in an area which is not in one of these, policies available to you will mostly be priced between the amounts shown for the New York City and the Watertown areas, and the analysis will give you a very good sense of the variation in price between policies of the very same type, and also a good idea of the difference in prices between policy types.
The information shown applies to Medicare beneficiaries who are age 65 and older, and also to disabled Medicare beneficiaries under age 65. New York is a “guaranteed issue” state, and any insurer writing Medigap policies must accept a Medicare enrollee’s application for coverage at any time throughout the year, and insurers may not deny the applicant a Medigap policy or make any premium rate distinctions because of health status, claims experience, medical condition or whether the applicant is receiving health care services. They may, however, impose a waiting period for preexisting medical conditions under some circumstances, although not all companies do this. However, my analysis shows that policies with no waiting periods are significantly more expensive than those with a six-month wait. Finally, note that guaranteed issue does apply to beneficiaries under age 65 entitled to Medicare because of End Stage Renal Disease (ESRD).
This information comes from the excellent New York State Department of Financial Services website, www.dfs.ny.gov, which has more detailed information on these policies, as well as the website addresses of the various insurance companies which sell them.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. You will be surprised by the difference in prices for the same policy type. The dollar amounts shown below are the monthly cost of the policies. And by the way, to make things easier, there are currently no SELECT Medigap policies available in New York.
Medigap Policies Available in New York City, Long Island and Parts of Westchester
Policy A: The lowest price available is $147, the highest is $273 and the average is $213.
Some 11 different companies offer these. This is the “basic” policy.
Policy B: The lowest price available is $194, the highest is $350 and the average is $280.
These cost about 32% more than Policy A. 11 different companies offer these.
Policy C: The lowest price available is $249 the highest is $405, and the average is $322.
These cost about 51% more than Policy A. 7 different companies offer these.
Policy D: The lowest price available is $257 the highest is $363, and the average is $315.
These cost about 48% more than Policy A. Only 3 different companies offer these.
Policy F: The lowest price available is $251, the highest is $417, and the average is $331.
These cost about 55% more than Policy A. 11 different companies offer these. These cover all Medigap benefits and are popular.
Policy F – High Deductible: The lowest price available is $67 the highest is $116 and the average is $87.
These cost about 59% less than Policy A. 4 different companies offer these. The deductible in 2012 is $2,070.
Policy G: The lowest price available is $273, the highest is $377, and the average is $318.
These cost about 49% more than Policy A. 5 different companies offer these.
Policy K: The lowest price available is $102 the highest is $175 and the average is $138.
These cost about 35% less than Policy A. 5 different companies offer these. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L: The lowest price available is $145, the highest is $224 and the average is $192.
These cost about 10% less than Policy A. 4 different companies offer these. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M: The lowest price available is $240 the highest is $290.
No average is given as only 2 different companies offer these. These cost about 24% more than Policy A. This policy is very new.
Policy N: The lowest price available is $161 the highest is $247 and the average is $202.
These cost about 5% less than Policy A. 6 different companies offer these. This policy is very new.
Medigap Policies Available in the Buffalo Area
(ZIPs Beginning with 140-143 & 147)*
Policy A: The lowest price available is $108, the highest is $242 and the average is $166.
Some 12 different companies offer these. This is the “basic” policy.
Policy B: The lowest price available is $148, the highest is $324 and the average is $221.
These cost about 34% more than Policy A. 12 different companies offer these.
Policy C: The lowest price available is $172 the highest is $375, and the average is $256.
These cost about 55% more than Policy A. 9 different companies offer these.
Policy D: The lowest price available is $204 the highest is $290, and the average is $253.
These cost about 54% more than Policy A. Only 3 different companies offer these.
Policy F: The lowest price available is $173, the highest is $379, and the average is $259.
These cost about 57% more than Policy A. 12 different companies offer these. These cover all Medigap benefits and are popular.
Policy F – High Deductible: The lowest price available is $55 the highest is $102 and the average is $79.
These cost about 52% less than Policy A. 5 different companies offer these. The deductible in 2012 is $2,070.
Policy G: The lowest price available is $217, the highest is $301, and the average is $250.
These cost about 51% more than Policy A. 4 different companies offer these.
Policy K: The lowest price available is $70 the highest is $120 and the average is $100.
These cost about 40% less than Policy A. 5 different companies offer these. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L: The lowest price available is $101, the highest is $153 and the average is $138.
These cost about 16% less than Policy A. 4 different companies offer these. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M: The lowest price available is $190 the highest is $200 and the average is $195.
Only 3 different companies offer these. These cost about 19% more than Policy A. This policy is very new.
Policy N: The lowest price available is $111 the highest is $207 and the average is $168.
These cost about 2% more than Policy A. 7 different companies offer these. This policy is very new.
*Note: In some places in this area certain companies price some policies somewhat lower than shown above, so you may be quoted a little better price that shown, but the pattern described above is the general one.
Medigap Policies Available in the Watertown Area
(ZIP beginning with 136)
Policy A: The lowest price available is $108, the highest is $242 and the average is $165.
Some 11 different companies offer these. This is the “basic” policy.
Policy B: The lowest price available is $148, the highest is $324 and the average is $219.
These cost about 33% more than Policy A. 11 different companies offer these.
Policy C: The lowest price available is $172 the highest is $375, and the average is $252.
These cost about 53% more than Policy A. 8 different companies offer these.
Policy D: The lowest price available is $193 the highest is $290, and the average is $249.
These cost about 51% more than Policy A. Only 3 different companies offer these.
Policy F: The lowest price available is $173, the highest is $379, and the average is $256.
These cost about 56% more than Policy A. 11 different companies offer these. These cover all Medigap benefits and are popular.
Policy F – High Deductible: The lowest price available is $55 the highest is $94 and the average is $72.
These cost about 56% less than Policy A. 4 different companies offer these. The deductible in 2012 is $2,070.
Policy G: The lowest price available is $205, the highest is $301, and the average is $247.
These cost about 50% more than Policy A. 4 different companies offer these.
Policy K: The lowest price available is $70 the highest is $120 and the average is $98.
These cost about 41% less than Policy A. 5 different companies offer these. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L: The lowest price available is $101, the highest is $153 and the average is $138.
These cost about 16% less than Policy A. 4 different companies offer these. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M: The lowest price available is $180 the highest is $200.
No average is given as only 2 different companies offer these. These cost about 15% more than Policy A. This policy is very new.
Policy N: The lowest price available is $111 the highest is $184 and the average is $156.
These cost about 5% less than Policy A. 6 different companies offer these. This policy is very new.
VIRGINIA MEDIGAP POLICIES AVAILABLE IN 2012
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies. There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157.
But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. Note that the information is given first for females and then for males. All this is harder to explain than it is to show.
All this information, which is completely up-to-date as of March 2012, comes from the excellent Virginia State Corporation Commission’s Bureau of Insurance website, www.scc.virginia.gov/boi/pubs/medsup_cht.pdf, which has more detailed information on these policies.
In Virginia, some policies are “attained-age rated, some are “issue-age rated” and some are “community rated.” The attained-age policies go up in price as you age, but may be the least costly to begin with. Issue-age policies do not go up because you age, but their premiums may increase, as will attained-age policies, for medical technology and inflation. Community-rated policies are sold at the same price throughout a given area, and may be the most expensive, but are often available even to those that don’t have a guaranteed issue right. Always check with an insurance company to find out how a policy you are interested in is rated, and be aware of the implications. With this in mind, remember that each type policy sold had the exact same benefits.
And because the benefits are exactly the same for a given policy type (letter) no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type; where these are especially wide, it may be because they are “guaranteed issue” (you can buy them no matter what your medical condition, so you will generally have to pay a high premium and you may have a waiting period before it will pay for treatment of your pre-existing conditions). And also please understand that the prices shown here and what you are quoted will vary because of how and how often you pay your premium, where you live in Virginia, whether you use tobacco, etc., so use these as guides rather than exact “matches.” (For those policies not priced the same state-wide, the prices are those that apply to the Richmond area.) The dollar amounts shown below are the annual cost of the policies.
Medigap Policies – Virginia – Females – Age 65
(NOTE: The prices for these run about 15% more for a beneficiary age 70, and 25% more for a beneficiary age 75.)
Policy A:
The lowest price available is $655, the highest is $5,570, and the average is $1,206.
This is the “basic” policy. Some 32 different policies are available.
Policy B:
The lowest price available is $1,006, the highest is $8,244, and the average is $1,752.
On the whole, these cost about 45% more than Policy A. 18 different policies are available.
Policy C:
The lowest price available is $1,208, the highest is $5,766, and the average is $1,809.
On the whole, these cost about 50% more than Policy A. 16 different policies are available. These are popular.
Policy D:
The lowest price available is $1,066, the highest is $1,809, and the average is $1,384.
On the whole, these cost about 15% more than Policy A. 7 different policies are available.
Policy F:
The lowest price available is $1,175, the highest is $4,453, and the average is $1,634.
On the whole, these cost about 36% more than Policy A. 33 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $353 the highest is $1,268, and the average is $552.
On the whole, these cost about 54% less than Policy A. 13 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $1,013, the highest is $1,934, and the average is $1,295.
On the whole, these cost about 7% more than Policy A. 20 different policies are available.
Policy K:
The lowest price available is $446, the highest is $952, and the average is $700.
On the whole, these cost about 42% less than Policy A. 7 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $688, the highest is $1,213, and the average is $984.
On the whole, these cost about 18% less than Policy A. 6 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $990, the highest is $1,337, and the average is $1,132.
On the whole, these cost about 6% less than Policy A. 6 different policies are available. This policy is very new.
Policy N:
The lowest price available is $797, the highest is $2,189, and the average is $1,118.
On the whole, these cost about 7% less than Policy A. 22 different policies are available. This policy is very new.
Medigap Policies – Virginia – Males – Age 65
(NOTE: The prices for these run about 15% more for a beneficiary age 70, and 25% more for a beneficiary age 75.)
Policy A:
The lowest price available is $655, the highest is $5,570, and the average is $1,285.
This is the “basic” policy. Some 32 different policies are available.
Policy B:
The lowest price available is $1,006, the highest is $8,244, and the average is $1,850.
On the whole, these cost about 44% more than Policy A. 18 different policies are available.
Policy C:
The lowest price available is $1,240, the highest is $5,766, and the average is $1,914.
On the whole, these cost about 49% more than Policy A. 16 different policies are available. These are popular.
Policy D:
The lowest price available is $1,226, the highest is $2,081, and the average is $1,522.
On the whole, these cost about 18% more than Policy A. 7 different policies are available.
Policy F:
The lowest price available is $1,248, the highest is $4,453, and the average is $1,749.
On the whole, these cost about 36% more than Policy A. 33 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $384 the highest is $1,268, and the average is $580.
On the whole, these cost about 55% less than Policy A. 13 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $1,125, the highest is $2,093, and the average is $1,406.
On the whole, these cost about 9% more than Policy A. 20 different policies are available.
Policy K:
The lowest price available is $446, the highest is $954, and the average is $737.
On the whole, these cost about 43% less than Policy A. 7 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $688, the highest is $1,218, and the average is $1,038.
On the whole, these cost about 19% less than Policy A. 6 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $1,140, the highest is $1,337, and the average is $1,243.
On the whole, these cost about 3% less than Policy A. 6 different policies are available. This policy is very new.
Policy N:
The lowest price available is $797, the highest is $2,189, and the average is $1,218.
On the whole, these cost about 5% less than Policy A. 22 different policies are available. This policy is very new.
If you send me an email to gjacobs23@windstream.net I will send you a small Excel file which had more detailed information.
COLORADO MEDIGAP POLICIES AVAILABLE IN 2012
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies. There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157.
What I have available here is information for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. I also include some brief information as to what these will cost for a beneficiary age 70 and 75. All this is harder to explain than it is to show.
Note that for both groups the information is given first for females and then for males. All this information comes from the excellent Colorado Department of Regulatory Agencies’ Division of Insurance website, www.dora.state.co.us/insurance/senior/2011, which has more detailed information on these policies.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type, although these are less in Colorado than in many other states. Please understand that the prices shown here and what you are quoted will vary because of how and how often you pay your premium, how your policy is priced or rated (almost all in Colorado are attained-age-rated, but at least one sells an “issue-age” policy, which may save you money in the long run), whether you have to serve a waiting period for a pre-existing condition, and if so, how long, whether you smoke or use tobacco, where you live in Colorado, and so forth, so use these as guides rather than exact “matches.” (These happen to be based on the populous Denver area.) And for some of the policies shown, you may need to be a member of a particular group, such as AARP, to be eligible to buy the policy. The rounded dollar amounts shown below are the monthly cost of the policies. This information was up-to-date as of March 2012.
Medigap Policies – Females – Age 65
(NOTE: The prices for these run about 20% more for a beneficiary age 70, and 40% more for a beneficiary age 75.)
Policy A:
The lowest price available is $62, the highest is $209, and the average is $104.
This is the “basic” policy. Some 42 different policies are available.
Policy B:
The lowest price available is $87, the highest is $255, and the average is $133.
On the whole, these cost about 28% more than Policy A. 20 different policies are available.
Policy C:
The lowest price available is $106, the highest is $290, and the average is $151. On the whole, these cost about 45% more than Policy A. 22 different policies are available.
Policy D:
The lowest price available is $94, the highest is $175, and the average is $125.
On the whole, these cost about 20% more than Policy A. 15 different policies are available.
Policy F:
The lowest price available is $109, the highest is $250, and the average is $149.
On the whole, these cost about 43% more than Policy A. 41 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $35, the highest is $89, and the average is $53.
On the whole, these cost about 49% less than Policy A. 17 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $96, the highest is $191, and the average is $129.
On the whole, these cost about 24% more than Policy A. 26 different policies are available.
Policy K:
The lowest price available is $56, the highest is $84, and the average is $73.
On the whole, these cost about 30% less than Policy A. 9 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $88, the highest is $119, and the average is $104.
On the whole, these cost the same as Policy A. 9 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $100, the highest is $156, and the average is $120.
On the whole, these cost about 15% more than Policy A. 9 different policies are available. This policy is very new.
Policy N:
The lowest price available is $75, the highest is $144, and the average is $102.
On the whole, these cost about the same as Policy A. 26 different policies are available. This policy is very new.
Medigap Policies – Males – Age 65
(NOTE: The prices for these run about 20% more for a beneficiary age 70, and 40% more for a beneficiary age 75.)
Policy A:
The lowest price available is $62, the highest is $224, and the average is $112.
This is the “basic” policy. Some 42 different policies are available.
Policy B:
The lowest price available is $100, the highest is $255, and the average is $143.
On the whole, these cost about 27% more than Policy A. 20 different policies are available.
Policy C:
The lowest price available is $122, the highest is $290, and the average is $164.
On the whole, these cost about 46% more than Policy A. 22 different policies are available.
Policy D:
The lowest price available is $108, the highest is $175 and the average is $139.
On the whole, these cost about 24% more than Policy A. 15 different policies are available.
Policy F:
The lowest price available is $119, the highest is $250, and the average is $161.
On the whole, these cost about 43% more than Policy A. 41 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $35, the highest is $89, and the average is $56.
On the whole, these cost about 50% less than Policy A. 17 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $87, the highest is $191, and the average is $138.
On the whole, these cost about 23% more than Policy A. 26 different policies are available.
Policy K:
The lowest price available is $56, the highest is $96, and the average is $76.
On the whole, these cost about 33% less than Policy A. 9 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $88, the highest is $137, and the average is $108.
On the whole, these cost about 4% less than Policy A. 9 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $115, the highest is $156, and the average is $130.
On the whole, these cost about 16% less than Policy A. 9 different policies are available. This policy is very new.
Policy N:
The lowest price available is $86, the highest is $153, and the average is $111.
On the whole, these cost about the same as Policy A. 26 different policies are available. This policy is very new.
If you email me at gjacobs23@windstream.net, I will send you a small Excel file which has more detailed information.
Friday, July 6, 2012
ILLINOIS MEDIGAP POLICIES AVAILABLE IN 2012
Medigap Policies Available at Age 65 in the Chicago Area of Illinois
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press, Inc.
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies. There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157.
But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, and who live in Cook, Kane, McHenry, DuPage, Lake and Will counties, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show.
And if you do not live in one of those counties, it will help point you to the insurance companies in Ilinois that have the best Medigap prices.
All this information, which is completely up-to-date as of March 2012, comes from the excellent Illinois Department of Insurance website www.insurance.iIllinois.gov which has more detailed information on these policies.
Most Medigap policies are “Attained-Age-Rated” policies, and the premiums you pay for these will tend to increase as you get older. On the other hand, you may be able to find an “Issue-Age-Rated” or a “Community –Rated” policy, and these won’t increase because you get older, but will increase because of new technology and medical inflation (as will Attained-Age-Rated policies). Therefore, if you buy an Issue-Age policy or a Community-Rated policy, you will perhaps pay a higher premium at first, but you will protect yourself against some future price increases as you age. Be certain that you ask any insurer exactly how they rate their policies, and whether they sell policies with different rating methods. With this general exception in mind, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type. A few policies may have a waiting period before it will pay for treatment of your pre-existing conditions. The prices shown are the rounded dollar amounts for monthly premiums, as this is how most beneficiaries pay. And after I detail the regular, or fee-for-service, Medigap policies, I give some details on the SELECT or network policies. Remember that for these policies, you must generally use your insurance company’s network of physicians and providers for their full reimbursement.
Policy A:
The lowest price available is $73, the highest is $241, and the average is $119.
This is the “basic” policy. Some 42 different policies are available.
Policy B:
The lowest price available is $101, the highest is $199, and the average is $144.
On the whole, these cost about 21% more than Policy A. 16 different policies are available.
Policy C:
The lowest price available is $121, the highest is $312, and the average is $162.
On the whole, these cost about 36% more than Policy A. 21 different policies are available.
Policy D:
The lowest price available is $100, the highest is $195, and the average is $135.
On the whole, these cost about 14% more than Policy A. 13 different policies are available.
Policy F:
The lowest price available is $108, the highest is $340, and the average is $169.
On the whole, these cost about 42% more than Policy A. 42 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $37 the highest is $89, and the average is $57.
On the whole, these cost about 52% less than Policy A. 13 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $102, the highest is $196, and the average is $139.
On the whole, these cost about 17% more than Policy A. 26 different policies are available.
Policy K:
The lowest price available is $57, the highest is $110, and the average is $82.
On the whole, these cost about 31% less than Policy A. 6 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $82, the highest is $151, and the average is $120.
On the whole, these cost about the same as Policy A. 5 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $108, the highest is $136, and the average is $117.
On the whole, these cost about the same as Policy A. 6 different policies are available. This policy is very new.
Policy N:
The lowest price available is $96, the highest is $320, and the average is $132.
On the whole, these cost about 11% less than Policy A. 25 different policies are available. This policy is very new.
Policy A:
Only one is available - $128.
Policy B:
Three are available - the lowest price is $98, the highest is $134, and the average is $114.
Policy C:
Four are available - the lowest price is $113, the highest is $154, and the average is $129.
Policy D:
Only one is available - $106.
Policy F:
Seven are available - the lowest price is $114, the highest is $136, and the average is $125. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
None are available.
Policy G:
Four are available - the lowest price is $101, the highest is $123, and the average is $113.
Policy K:
Only one is available - $57.
This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
None are available.
Policy M
None are available.
Policy N:
Three are available - the lowest price is $85, the highest is $101, and the average is $92. This policy is very new.
If you email me at gjacobs23@windstream.net I can send you a small Excel spreadsheet that gives more detail.
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press, Inc.
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies. There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157.
But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, and who live in Cook, Kane, McHenry, DuPage, Lake and Will counties, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show.
And if you do not live in one of those counties, it will help point you to the insurance companies in Ilinois that have the best Medigap prices.
All this information, which is completely up-to-date as of March 2012, comes from the excellent Illinois Department of Insurance website www.insurance.iIllinois.gov which has more detailed information on these policies.
Most Medigap policies are “Attained-Age-Rated” policies, and the premiums you pay for these will tend to increase as you get older. On the other hand, you may be able to find an “Issue-Age-Rated” or a “Community –Rated” policy, and these won’t increase because you get older, but will increase because of new technology and medical inflation (as will Attained-Age-Rated policies). Therefore, if you buy an Issue-Age policy or a Community-Rated policy, you will perhaps pay a higher premium at first, but you will protect yourself against some future price increases as you age. Be certain that you ask any insurer exactly how they rate their policies, and whether they sell policies with different rating methods. With this general exception in mind, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type. A few policies may have a waiting period before it will pay for treatment of your pre-existing conditions. The prices shown are the rounded dollar amounts for monthly premiums, as this is how most beneficiaries pay. And after I detail the regular, or fee-for-service, Medigap policies, I give some details on the SELECT or network policies. Remember that for these policies, you must generally use your insurance company’s network of physicians and providers for their full reimbursement.
Regular Medigap Policies – Chicago Area, Illinois – Age 65
Policy A:
The lowest price available is $73, the highest is $241, and the average is $119.
This is the “basic” policy. Some 42 different policies are available.
Policy B:
The lowest price available is $101, the highest is $199, and the average is $144.
On the whole, these cost about 21% more than Policy A. 16 different policies are available.
Policy C:
The lowest price available is $121, the highest is $312, and the average is $162.
On the whole, these cost about 36% more than Policy A. 21 different policies are available.
Policy D:
The lowest price available is $100, the highest is $195, and the average is $135.
On the whole, these cost about 14% more than Policy A. 13 different policies are available.
Policy F:
The lowest price available is $108, the highest is $340, and the average is $169.
On the whole, these cost about 42% more than Policy A. 42 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $37 the highest is $89, and the average is $57.
On the whole, these cost about 52% less than Policy A. 13 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $102, the highest is $196, and the average is $139.
On the whole, these cost about 17% more than Policy A. 26 different policies are available.
Policy K:
The lowest price available is $57, the highest is $110, and the average is $82.
On the whole, these cost about 31% less than Policy A. 6 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $82, the highest is $151, and the average is $120.
On the whole, these cost about the same as Policy A. 5 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $108, the highest is $136, and the average is $117.
On the whole, these cost about the same as Policy A. 6 different policies are available. This policy is very new.
Policy N:
The lowest price available is $96, the highest is $320, and the average is $132.
On the whole, these cost about 11% less than Policy A. 25 different policies are available. This policy is very new.
SELECT Medigap Policies – Chicago Area, Illinois – Age 65
Policy A:
Only one is available - $128.
Policy B:
Three are available - the lowest price is $98, the highest is $134, and the average is $114.
Policy C:
Four are available - the lowest price is $113, the highest is $154, and the average is $129.
Policy D:
Only one is available - $106.
Policy F:
Seven are available - the lowest price is $114, the highest is $136, and the average is $125. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
None are available.
Policy G:
Four are available - the lowest price is $101, the highest is $123, and the average is $113.
Policy K:
Only one is available - $57.
This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
None are available.
Policy M
None are available.
Policy N:
Three are available - the lowest price is $85, the highest is $101, and the average is $92. This policy is very new.
If you email me at gjacobs23@windstream.net I can send you a small Excel spreadsheet that gives more detail.
NORTH CAROLINA MEDIGAP POLICIES AVAILABLE IN 2012
NORTH CAROLINA MEDIGAP POLICIES AVAILABLE IN 2012
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press
I have done an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. There is also a quick comparison of the average price of each policy type to type “A,” the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show. This information is given separately for females and males, as most insurance companies have different rates by gender. And the data presented is for non-smokers; my analysis shows that female smokers will pay very roughly 12% more than the prices shown here, and males, a hefty 50% or more.
A word of caution, though. The price you are quoted will probably vary somewhat from the amounts shown. Some of the factors which vary the price may include where you live in North Carolina, how often you pay your premium (the amounts shown are for monthly payments), how you pay your premium (auto-pay may get you a discount), whether you and your spouse use the same company, etc. Almost all these policies are rated on an “attained age” basis, where the price will go up as you age, but two are differently rated, one is “issue age rated” and another is “community rated,” and you should consider the benefits of these (your price generally doesn’t go up because you age) in determining the best deal for you. Also, a few companies also sell SELECT or network Medigap policies in some areas, where you generally have to use their network of physicians and providers for your claims to be reimbursed.
But remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type; in most cases by a factor of 2, and in some cases, even more!
This data was collected from the excellent North Carolina Department of Insurance website http://www.ncdoi.com/SHIIP/SHIIP_Medicare_Supplement.aspx and its
Medicare Supplement Premium Comparison Database, as of the end of March 2012. Additional details about these insurance companies and their policies are available there.
Standard Medigap Policies – Females – Age 65 – North Carolina
Policy A:
The lowest price available is $67, the highest is $188, and the average is $103.
This is the “basic” policy. Some 42 different policies are available.
Policy B:
The lowest price available is $78, the highest is $214, and the average is $128.
On the whole, these cost about 24% more than Policy A. 22 different policies are available.
Policy C:
The lowest price available is $94, the highest is $243, and the average is $145.
On the whole, these cost about 40% more than Policy A. 23 different policies are available.
Policy D:
The lowest price available is $82, the highest is $196, and the average is $124.
On the whole, these cost about 20% more than Policy A. 12 different policies are available.
Policy F:
The lowest price available is $97, the highest is $221, and the average is $143.
On the whole, these cost about 38% more than Policy A. 42 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $29, the highest is $70, and the average is $47.
On the whole, these cost about 54% less than Policy A. 16 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $82, the highest is $165, and the average is $117.
On the whole, these cost about 13% more than Policy A. 25 different policies are available.
Policy K:
The lowest price available is $61, the highest is $86, and the average is $69.
On the whole, these cost about 33% less than Policy A. 10 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $75, the highest is $119, and the average is $100.
On the whole, these cost about the same as Policy A. 8 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $74, the highest is $122, and the average is $100.
On the whole, these cost about the same as Policy A. 7 different policies are available. This policy is very new.
Policy N:
The lowest price available is $68, the highest is $154, and the average is $100.
On the whole, these cost about the same as Policy A. 30 different policies are available. This policy is very new.
Standard Medigap Policies – Males – Age 65 – North Carolina
Policy A:
The lowest price available is $75, the highest is $188, and the average is $112.
This is the “basic” policy. Some 42 different policies are available.
Policy B:
The lowest price available is $90, the highest is $231, and the average is $139.
On the whole, these cost about 24% more than Policy A. 22 different policies are available.
Policy C:
The lowest price available is $108, the highest is $249, and the average is $157.
On the whole, these cost about 40% more than Policy A. 23 different policies are available.
Policy D:
The lowest price available is $94, the highest is $225, and the average is $138.
On the whole, these cost about 23% more than Policy A. 12 different policies are available.
Policy F:
The lowest price available is $112, the highest is $254, and the average is $155.
On the whole, these cost about 38% more than Policy A. 42 different policies are available. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $29, the highest is $84, and the average is $51.
On the whole, these cost about 54% less than Policy A. 16 different policies are available. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $95, the highest is $190, and the average is $128.
On the whole, these cost about 14% more than Policy A. 25 different policies are available.
Policy K:
The lowest price available is $61, the highest is $103, and the average is $77.
On the whole, these cost about 31% less than Policy A. 10 different policies are available. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $75, the highest is $142, and the average is $106.
On the whole, these cost about 6% less than Policy A. 8 different policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $85, the highest is $136, and the average is $109.
On the whole, these cost about the same as Policy A. 7 different policies are available. This policy is very new.
Policy N:
The lowest price available is $78, the highest is $173, and the average is $106.
On the whole, these cost about 5% less than Policy A. 30 different policies are available. This policy is very new.
If you email me at gjacobs23@windstream.net I will send you an Excel spreadsheet with additional details.
NEW HAMPSHIRE MEDIGAP POLICIES AVAILABLE IN 2012
MEDIGAP POLICIES AVAILABLE IN NEW HAMPSHIRE IN 2012
by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies. There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157.
What I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. Note that the information is given first for females and then for males. All this is harder to explain than it is to show.
All this information comes from the very helpful New Hampshire Insurance Department’s website, www.nh.gov/insurance/consumers/documents.pdf, which has more detailed information on these policies.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. You will note some differences in prices for the same policy type; and some of this may be due to restrictions, for example, a policy may not cover a pre-existing condition for a period of time. But mostly it appears just to be different prices for the same benefits. Also please understand that the prices shown here and what you are quoted may vary because of how and how often you pay your premium, if you smoke, etc. The dollar amounts shown below are the rounded monthly cost of the policies.
Medigap Policies – Females – Age 65 – New Hampshire
(NOTE: The prices for these run roughly about 15% more for a beneficiary age 70, and 30% more for a beneficiary age 75.)
Policy A:
The lowest price available is $85, the highest is $144, and the average is $122.
This is the “basic” policy. Some 15 different companies offer these.
Policy B:
The lowest price available is $127, the highest is $177, and the average is $152.
On the whole, these cost about 24% more than Policy A. 4 different companies offer these.
Policy C:
The lowest price available is $159, the highest is $206, and the average is $183.
On the whole, these cost about 50% more than Policy A. 5 different companies offer these. This policy is popular.
Policy D:
Only one policy is available; it is $194, or 59% more than Policy A.
Policy F:
The lowest price available is $149, the highest is $207, and the average is $178.
On the whole, these cost about 46% more than Policy A. 15 different companies offer these. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $41 the highest is $70, and the average is $55.
On the whole, these cost about 55% less than Policy A. 4 different companies offer these. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $133, the highest is $195, and the average is $156.
On the whole, these cost about 27% more than Policy A. 8 different companies offer these.
Policy K:
The lowest price available is $62, the highest is $105, and the average is $81.
On the whole, these cost about 34% less than Policy A. 4 different companies offer these. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $89, the highest is $134, and the average is $115.
On the whole, these cost about 6% less than Policy A. 4 different companies offer these. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $116, the highest is $147, and the average is $131.
On the whole, these cost about 8% more than Policy A. 3 different companies offer these. This policy is very new.
Policy N:
The lowest price available is $98, the highest is $167, and the average is $125.
On the whole, these cost about the same as Policy A. 11 different companies offer these. This policy is very new, but more and more companies are offering it.
Medigap Policies – Males – Age 65 – New Hampshire
NOTE: The prices for these run roughly about 15% more for a beneficiary age 70, and 30% more for a beneficiary age 75.)
Policy A:
The lowest price available is $85, the highest is $149, and the average is $131.
This is the “basic” policy. Some 15 different companies offer these.
Policy B:
The lowest price available is $127, the highest is $204, and the average is $164.
On the whole, these cost about 25% more than Policy A. 4 different companies offer these.
Policy C:
The lowest price available is $159, the highest is $237, and the average is $196.
On the whole, these cost about 49% more than Policy A. 5 different companies offer these. This policy is popular.
Policy D:
Only one policy is available; it is $223, or 70% more than Policy A.
Policy F:
The lowest price available is $155, the highest is $238, and the average is $191.
On the whole, these cost about 46% more than Policy A. 15 different companies offer these. These cover all Medigap benefits and are popular.
Policy F – High Deductible:
The lowest price available is $45 the highest is $73, and the average is $59.
On the whole, these cost about 55% less than Policy A. 4 different companies offer these. The deductible in 2012 is $2,070.
Policy G:
The lowest price available is $144, the highest is $224, and the average is $171.
On the whole, these cost about 31% more than Policy A. 8 different companies offer these.
Policy K:
The lowest price available is $62, the highest is $109, and the average is $87.
On the whole, these cost about 33% less than Policy A. 4 different companies offer these. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L:
The lowest price available is $89, the highest is $152, and the average is $124.
On the whole, these cost about 6% less than Policy A. 4 different companies offer these. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M:
The lowest price available is $116, the highest is $160, and the average is $140.
On the whole, these cost about 7% more than Policy A. 3 different companies offer these. This policy is very new.
Policy N:
The lowest price available is $98, the highest is $192, and the average is $135.
On the whole, these cost about the same as Policy A. 11 different companies offer these. This policy is very new, but more and more companies are offering it.
If you email me at gjacobs23@windstream.net, I will send you a one-page Excel spreadsheet giving additional details.
MISSOURI MEDIGAP POLICIES AVAILABLE IN 2012
Medigap Policies Available at Age 65 in Missouri in 2012
Prepared by George Jacobs, author of Managing Your Medicare, published by Self-Counsel Press
I am doing an extensive analysis of the Medigap (Medicare supplement) policies currently available to Medicare beneficiaries. This is because the structure of new policies available to beneficiaries changed in June of 2010, and by now there is enough information to give some guidance on both the availability and prices of the newly structured policies.
There is no need to go into explaining the new structure; this is all spelled out in Managing Your Medicare, on page 157. But what I have available here is information, for those age 65, which is when most beneficiaries get a Medigap policy, on the number of policies available, the lowest priced one available, the highest priced one available, and the average price. Even better, this information is given for each policy type. Also, there is a quick comparison of the average price of each policy type to type “A”, the “basic” policy, so you can easily determine roughly how much more or less the policy type you are looking at compares to the basic one, or indeed, to any other policy type. All this is harder to explain than it is to show.
A word of caution, though. This data was collected from the Missouri Department of Insurance, Financial Regulation and Professional Registration website www.difp.mo.gov. Unlike many state’s similar websites, this one gives the information in a composite manner, and for example, does not separate male rates from female rates, or rates in one of the areas in the state from another (although it does separate by age). Rather, it gives the average of what a particular Medigap policy type would cost for a year. So what you will be quoted will vary up or down from the rates shown, depending on gender, your location in the state, tobacco use, whether your payment method is given a discount, etc.
Again, remember that for each policy type, the benefits are exactly the same no matter who sells it, and you should aggressively look for the best price. You will note significant differences in prices for the same policy type. Some of this may be due to whether or not it is “guaranteed issue” or if it is underwritten. The Missouri Department of Insurance has issued an exceptionally fine publication, The Missouri Medigap Shopping Guide, which has well-done explanations of these differences, and you should check it out as well as the information in Managing Your Medicare. (Call 800-726-7390 for a free copy of The Guide.) But a good deal of the variation appears just to be different prices for the same benefits. And, of course, use these dollar amounts as general guides rather than exact “matches,” but they are a good guide both to which policy type and which insurance company’s policies you will want to look more carefully at. The dollar amounts shown below are the average annual cost of the policies.
And you should note that three insurers sell SELECT Medigap policies. These generally require you to use that insurance company’s network of providers to get your claims paid. So if you decide to go for one of these, be sure your physicians, hospitals and other health care providers are in the network before you buy it.
This information was updated in June of 2012 with the rates then in effect.
Medigap Policies –– Missouri –– Age 65 –– 2012
Policy A: The lowest average price available is $830, the highest is $2,451, and the average is $1,481. This is the “basic” policy. Some 50 different policies are available. A SELECT policy is available for $1,471.
Policy B: The lowest average price available is $1,490, the highest is $2,791, and the average is $1,840. On the whole, these cost about 24% more than Policy A. 18 different policies are available. Two SELECT policies are also available, for $1,308 and $1,582.
Policy C: The lowest average price available is $1,776, the highest is $3,172, and the average is $2,070. On the whole, these cost about 40% more than Policy A. 23 different policies are available. Two SELECT policies are also available, for $1,711 and $1,812. These “C” policies are popular.
Policy D: The lowest average price available is $1,614, the highest is $2,444, and the average is $1,818. On the whole, these cost about 23% more than Policy A. 19 different policies are available. One SELECT policy is available for $1,332.
Policy F: The lowest average price available is $1,398, the highest is $3,195 and the average is $2,134. On the whole, these cost about 44% more than Policy A. 47 different policies are available. Three SELECT policies ranging from $1,508 to $2,004 are also available. These “F” policies cover all Medigap benefits and are popular.
Policy F – High Deductible: The lowest average price available is $379 the highest is $978, and the average is $756. On the whole, these cost about 49% less than Policy A. 17 different policies are available. No SELECT policies are available. The deductible in 2012 is $2,070.
Policy G: The lowest average price available is $1,542, the highest is $2,453, and the average is $1,855. On the whole, these cost about 25% more than Policy A. 30 different policies are available. Two SELECT policies are also available, for $1,347 and $1,434.
Policy K: The lowest average price available is $780, the highest is $1,325, and the average is $919. On the whole, these cost about 38% less than Policy A. 9 different policies are available. One SELECT policy is available for $646. This is the 50% catastrophic policy. The catastrophic level for this policy in 2012 is $4,660.
Policy L: The lowest average price available is $1,128, the highest is $1,757, and the average is $1,341. On the whole, these cost about 10% less than Policy A. 7 different policies are available. No SELECT policies are available. This is the 75% catastrophic policy. The catastrophic level for this policy in 2012 is $2,330.
Policy M: The lowest average price available is $1,467, the highest is $1,867, and the average is $1,663. On the whole, these cost about 12% more than Policy A. 13 different policies are available. No SELECT policies are available. This policy is very new.
Policy N: The lowest average price available is $1,214, the highest is $2,197, and the average is $1,547. On the whole, these cost about 4% more than Policy A. 33 different policies are available. Three SELECT policies ranging from $1,107 to $1,548 are also available. This policy is very new.
If you email me at gjacobs23@windstream.net I will send you a one-page Excel spreadsheet with additional details.
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