Cost of Medicare Supplemental Coverage

The cost of a Medicare Supplemental insurance plan depends on a number of factors:

  1. The first important factor is which Medigap plan type you choose. As you can see in the Medicare Supplemental Insurance Plan Matrix, each plan type carries with it a different set of benefits. The more benefits that are offered, the more expensive the cost of the plan will be.

  2. The second important factor is where you live, as that determines which insurance companies offer coverage. Insurance companies are regulated at the state level, and so different companies operate in different parts of the country. Also, the different states have different rules governing how Medicare supplemental insurance is sold, and that further impacts the pricing.

  3. The third important factor is your health condition. In most states, Medigap policies take into account health-related factors in determining your monthly premium. In general, the healthier and younger you are, the lower your cost will be. Many states publish the average cost of each Medigap plan sold by each of the insurance companies operating in the state.

  4. In addition, there are a number of personal - company - and plan-specific factors which impact your cost.
    • When you purchase your plan (for example, during Medigap Open Enrollment)
    • How extensive the provider network is
    • How high is your deductible

To find out how much Medicare supplemental insurance coverage will cost for you, you can find plan providers available to provide you with free quotes.