inding the best Medicare supplement plans can feel overwhelming, and determining their rates can seem even more difficult. Especially when every company online wants your personal information before showing you rates! Not at Senior Benefit Services!
In this article, we show you sample Medicare supplement rates by age for different plans, such as Medicare Plan G, Plan N, and Plan F.
Click here to get your custom Med sup rate for your age, state, and tobacco use.
In this article, I will go over the different Medigap rates by age, how your age can affect your coverage options, and how to get covered for the best Medsup rates.
How to Find the Best Medicare Supplement Rates By Age
Most of the time when we think about Medicare or Medicare supplements, we don’t think past the age of 65.
We are all assuming that once we reach that golden age, we will figure things out and then move on into retirement easily.
For some of us that will be true, but you will be shocked to find out that most of us might not even enroll in Medicare Part B when we turn 65.
This means we could miss our initial enrollment period which is the only time your approval is guaranteed, or we might just wait too long to finally decide to enroll and have to pay a penalty.
In other cases, you’re over 65 and your premiums increase. Now you are comparing Medicare Supplement insurance companies and their rates to see if you can save money.
Either way, we can help! — Click here for a free quote!
Others will enroll and stick with primary Medicare or go with a Medicare Advantage plan.
All of the options are fine, but what do you do when money is going out faster than it is coming in?
Shouldn’t there be a fast way to look at some monthly premiums based on your age and try to get some help lowering them?
I want to help you through the high premiums and the noise on what options can be best by laying them out easily in this post.
Before we get started with showing rates, I would like to cover an essential factor that we discuss below.
Get The Medsup Plan With The Best Rate
If you check out the image below, you can easily see that the most affordable Medicare supplement rates for Plan G quoted is with American Continental Insurance Company for $142.78/month.
However, the more expensive plans might be from a more familiar company such as Humana $145.58/month or Cigna at 157.38/month.
It is easy to think that Humana and Cigna must offer better benefits because they are more widely known or that they are the “Safer Bet,” but the truth is that their Plan G is exactly the same as any Plan G.
Every company is mandated by law to offer the exact same benefits per plan.
This means that All N Plans are the same, and all F Plans are the same, it doesn’t matter who you buy the policy through.
For example, if you’re comparing Medicap companies by rate increases, you’ll find all companies have the same percentage of increases.
I think this is very important to note because as you look through more Medicare supplement rates by age, I want you to remember that you should always go with the lowest price and if you are unsure you can contact us here: 1.800.924.4727 or fill out our quote form below.
Medicare Supplement Rates For 65 – 69 Years Old
If you are turning 65, then the best time for you to get a Medicare Supplement plan is during your open enrollment period that will last for 6 months. This enrollment period starts on the first day of the month you will turn 65 and are enrolled in Medicare Part B. The best thing about this specific open enrollment period is that you are guaranteed approved no matter your health conditions. Keep in mind that you can’t delay or replace your Medsup Open Enrollment Period. A 66 year old male or female who is in great shape is probably going to be looking at a Plan N when starting out just because these plans are going to be the most affordable and you will probably be in excellent health. But you always want to be mindful that when your initial enrollment period passes, you might be required to go through underwriting if you decide to switch plans in the future so think about the now and your future.
According to Medicare.com, anyone turning age 65 or going onto Medicare starting in 2020 will not be able to purchase Plan F.
If you already have Medicare prior to 2020 and have Plan F, then you can keep it.
Otherwise, we will basically be losing Plan F after 2020 so keep that in mind. Below are some sample Medigap rates by age for 65-69 for both male and female:
- Male
- Female
Check out these sample Medicare Supplement rates for Plan N, Plan G & Plan F.
| Age | Plan N | Plan G | Plan F |
|---|---|---|---|
| 65 Years Old | $105.62 | $131.00 | $161.00 |
| 66 Years Old | $111.00 | $131.00 | $165.00 |
| 67 Years Old | $116.00 | $131.00 | $169.00 |
| 68 Years Old | $117.00 | $131.00 | $175.00 |
| 69 Years Old | $121.00 | $135.00 | $190.00 |
Sample Quotes: Male – Non-Tobacco – Living in Hagerstown, MD
Click here for a custom rate based on your specific state and tobacco use.
Check out these Medicare Supplement sample rates for Plan N, Plan G & Plan F.
| Age | Plan N | Plan G | Plan F |
|---|---|---|---|
| 65 Years Old | $92.00 | $119.00 | $151.00 |
| 66 Years Old | $97.00 | $119.00 | $151.00 |
| 67 Years Old | $101.00 | $119.00 | $151.00 |
| 68 Years Old | $105.00 | $122.00 | $157.00 |
| 69 Years Old | $110.00 | $126.00 | $163.00 |
Sample Quotes: Female – Non-Tobacco – Living in Hagerstown, MD
Click here for a custom rate based on your specific state and tobacco use.
Medigap Rates For 70 – 75 Years Old
If you waited until you reached your 70’s before enrolling into Medicare, you can still qualify. Your rates may be more expensive than for someone in their 60’s, but we’ll show you the best Medicare supplement plans and rates here.
Here’s how the pricing works:
For every year you go without Part B of Medicare during a time in which you could have had it, your rates go up by 10%.This means if you are starting out at 70, your premiums are already 50% more than they would have been and if you wait until 75 they are going to be 100% more than they would have been. This is important because it’s going to be hard to pay much higher premiums and still afford to pay the Medicare Supplement plan rates. On the other hand, if you didn’t wait until your 70’s to get coverage, you could be in a situation where you need to switch plans. This can happen because you might be considering what would happen if you started to need to visit the doctor more, or because of monthly premiums. Below are some quick sample Medigap rates by age for both men and women:
- Male
- Female
Check out these sample Medicare Supplement rates for Plan N, Plan G & Plan F.
| Age | Plan N | Plan G | Plan F |
|---|---|---|---|
| 70 Years Old | $124.00 | $140.00 | $189.00 |
| 71 Years Old | $128.00 | $144.00 | $196.00 |
| 72 Years Old | $134.00 | $150.00 | $204.00 |
| 73 Years Old | $139.00 | $156.00 | $211.00 |
| 74 Years Old | $144.00 | $162.00 | $217.00 |
| 75 Years Old | $147.00 | $168.00 | $226.00 |
Sample Quotes: Male – Non-Tobacco – Living in Hagerstown, MD
Click here for a custom rate based on your specific state and tobacco use.
Check out these sample Medicare Supplement rates for Plan N, Plan G & Plan F.
| Age | Plan N | Plan G | Plan F |
|---|---|---|---|
| 70 Years Old | $113.00 | $130.00 | $161.00 |
| 71 Years Old | $117.00 | $134.00 | $174.00 |
| 72 Years Old | $121.00 | $138.00 | $179.00 |
| 73 Years Old | $126.00 | $142.00 | $185.00 |
| 74 Years Old | $130.00 | $146.00 | $191.00 |
| 75 Years Old | $133.00 | $150.00 | $196.00 |
Sample Quotes: Female – Non-Tobacco – Living in Hagerstown, MD
Click here for a custom rate based on your specific state and tobacco use.
Medsup Rates For 76 – 80 Years Old
Your rates for a Medsup plan at 77 or 80 are probably going to be at their highest level when you are in this age range.
This doesn’t mean there isn’t any room for savings and if you are pretty good health at this point, you still may be able to find a different company with lower prices.
It might feel odd to make a change to a plan that you have had for a long time, but sometimes even changing the company is all that is needed to get a large amount of savings.
Remember that any insurance company that offers your plan has to provide the same primary plan benefits, regardless of the price. This means that a Plan G benefits with one carrier have to be the exact same benefits with another carrier. The only difference can be what the Medicare Supplement rates are with each carrier.
In other words, the company you go through for benefits don’t matter because the plan benefits have to be the same and any Doctor or Hospital that accepts Medicare will accept Medsup plans.
Below are a few rates by age for men and women:
- Male
- Female
Check out these sample Medicare Supplement rates for Plan N, Plan G & Plan F.
| Age | Plan N | Plan G | Plan F |
|---|---|---|---|
| 76 Years Old | $150.00 | $174.00 | $233.00 |
| 77 Years Old | $153.00 | $179.00 | $240.00 |
| 78 Years Old | $155.00 | $184.00 | $248.00 |
| 79 Years Old | $158.00 | $189.00 | $253.00 |
| 80 Years Old | $160.00 | $195.00 | $263.00 |
Sample Quotes: Male – Non-Tobacco – Living in Hagerstown, MD
Click here for a custom rate based on your specific state and tobacco use.
Check out these Medicare Supplement sample rates for Plan N, Plan G & Plan F.
| Age | Plan N | Plan G | Plan F |
|---|---|---|---|
| 76 Years Old | $136.00 | $154.00 | $202.00 |
| 77 Years Old | $139.00 | $156.00 | $209.00 |
| 78 Years Old | $141.00 | $159.00 | $215.00 |
| 79 Years Old | $143.00 | $162.00 | $222.00 |
| 80 Years Old | $146.00 | $167.00 | $229.00 |
Sample Quotes: Female – Non-Tobacco – Living in Hagerstown, MD
Click here for a custom rate based on your specific state and tobacco use.
Medicare Supplement Premium Pricing Method
When you start searching for Medicare Supplement rates by age, the first thing you should consider is what the premium pricing method will be for each company.
The reason this is important to pay attention to is that you could purchase a policy when you are 65 that is super affordable, but by the time you reach 81 your rates could have skyrocketed.
There are three different ways that an insurance company can set your premium prices. It is going to depend on the state which option is offered by which company:
Community – Rated
A Community-rated policy gives everyone the same rates for a particular Medicare Supplement plan, regardless of your age. These policies can tend to be more expensive in the beginning and get more affordable as you grow older.
Issue Age – Rated
The way an issue age rated policy will work is that it will base the premiums on your current age when you buy the policy. These policies do not increase as you age.
Attained Age – Rated
An attained age rated policy will start off at a low monthly premium, and every time you have attained a new age, your premiums will increase.
Most insurance companies use these types of rates for their Medicare Supplement policies.
Now that we have an understanding of how policy premiums are priced let’s look at what the best Medigap plan could be for your age group.
The Best Medigap Plan By Age
One of the things you will probably run into is trying to figure out what is the best Medicare supplement plan based on your age.
Keep in mind, that there are several factors to take into consideration when it comes to purchasing a Medicare supplement plan, not just your age. Medicare Supplement rates are also based on whether or not you have or currently use tobacco products.
We are just attempting to give you an idea of where you might want to start based on your age.
Male or Female Ages 65 – 69
As a 65 year old female, you are going to probably still be in the best shape of your life with no significant medical issues and very little need to visit a doctor outside of emergencies and well care visits.
Because of this, I would say Plan N is probably going to be the best option for you. As you read above, for the lowest rates the Medicare Supplement Plan N is going to be your best option, or Medicare Plan G if you don’t want co-pays.
This is great because all you will pay is a co-pay when you make any visits to your doctor.
In my opinion the Plan G or Plan N would be best for someone turning 65. I would recommend the G for someone who does not want to worry with co-pays. I would recommend the N for someone who is healthy and doesn’t mind paying a co-pay.
Miranda Davis Hapner
Mid America Insurance Brokerage
Female or Male Ages 70 – 80
Once you get to this age range, such as a 73 year old male looking into the best Medicare Supplement plans, your best option will be to get the plan you can afford most.
However, if you can afford it, Plan G is probably going to be the best option for you based on the fact that there are only two differences between Plan G and Plan F.
- Plan G rates are a much more affordable Medicare Supplement than Plan F
- Plan G doesn’t cover your Medicare Part B Deductible
When you add those two things together, Plan G becomes one of the best options around.
If we look at the rate tables above for a 70 year old female, the Plan F will cost us $161.00/month, and a Plan G will cost us only $130.00/month.
Now here is where it gets fun, the total out of pocket amount for each plan looks like this:
| Plan | Premium | Part B Deductible | Annual Cost |
|---|---|---|---|
| Plan G | $130.00/month | $226/year | $1,793.00 |
| Plan F | $161.00/month | Included | $1,932.00 |
We are talking about a total annual savings of $139 which is just under $12.00/month in savings.
Depending on the plan you currently have the savings could be far greater.
What About Plan F?
In all honesty, Plan F will be going away soon, and if you currently have Plan F, you will probably find more savings by switching to a Plan G now and forking over that small annual deductible.
I don’t see any reason for someone new to join into a Plan F, and if you are a 76 year old male or a 77 year old female, then I think you should be reaching out to us for some quotes on a Plan G, just to be on the safe side. Medicare Supplement rates are changing every year, so it pays to get a quote from us.
Pros & Cons Of Medicare Supplement Plans
I haven’t found anything in life that is perfect yet, so it would be crazy to think that Medicare supplement plans are, below we discuss the pros and cons:
Pros
Your Acceptance Is Guaranteed For 6 Months
The month you turn 65 you qualify for whats known as your IEP or Initial Enrollment Period, which will last for 6 months.
As long as you enroll in Medicare A & B, you can get approved for a Medsup policy no matter what your current medical conditions are, just think of it like a one time get out of jail free card. Once again, you are going to be looking at the different rates for Medicare Supplement plans available in your area.
Your Policy Is Guaranteed Renewable
As long as you pay your monthly premiums, your policy is guaranteed renewable, which means you don’t have to go through underwriting to renew the policy.
This is an awesome benefit because you can’t loose coverage due to an illness or for being diagnosed with anything.
An Extra Year of Hospitalization Coverage
When you have used up all of the hospitalization coverage that comes with traditional Medicare, your Medsup plan will kick in and give you an additional 365 days of coverage.
This is a great benefit because in the chance that you to stay in the hospital for more than a year, you are covered. This benefit is part of your basic benefits and is built into the rate of the Medicare Supplement plan.
Cons
Rates Change Annually
Like most health insurance products, Medsup plans renew on an annual basis which means that your rates can also go up on a year-by-year basis.
Getting a rate increase is not pleasant! It’s always best to talk to one of our advisors to see if current rates with increases on your Medicare Supplement has made your policy more expensive than others we have available.
Prescription Drugs Aren’t Covered
Part D of Medicare, which is Prescription Drugs, isn’t covered or included with a Medsup plan, you must still purchase this product separately.
Prescriptions can be very important depending on your current health situation and will determine how much additional coverage you may be able to afford.
As part of our service we can assist you with finding the right prescription drug plan once we get you set up for your Medsup plan.
Could Be Hard To Switch Later If You Have Medical issues
Once you are covered and after your 6 month initial enrollment period, if you decide to switch to another Medsup plan it is possible that you can be denied new coverage if you don’t pass the underwriting.
Since you are only protected with guaranteed issue status during your Initial Enrollment Period, if you don’t pass the guidelines for underwriting, you might be stuck in the Medsup plan you started with.
Hopefully this gives you a general overlay of the pros and cons of a Medsup policy.
We can work with you to figure out which option would be best for you and give you the most savings. It only takes a few minutes of your time to see if you can save on your Medicare Supplement rates.
Plan N vs Plan G vs Plan F
We put together a quick summary of the difference in the 3 major plans which are Plan N, Plan G, and Plan F, keep in mind that Plan F will be going away soon, but the option is still available:
| BENEFITS | PLAN N | PLAN G | PLAN F |
|---|---|---|---|
| Part A Hospital
Co-Insurance |
YES | YES | YES |
| 365 Hospital Reserve Days | YES | YES | YES |
| Part B Co-Insurance /Co-Payment | YES | YES | YES |
| Blood Benefit
(First 3 Pints) |
YES | YES | YES |
| Hospice
Co-Insurance / Co-Payment |
YES | YES | YES |
| Skilled Nursing Facility Co-Insurance | YES | YES | YES |
| Part A Deductible | YES | YES | YES |
| Part B Deductible | NO | NO | YES |
| Part B
Excess Charge |
NO | YES | YES |
| Foreign
Travel Benefit |
80% | 80% | 80% |
| Out Of Pocket Limit | N/A | N/A | N/A |
Can I Get A Medigap Plan At Age 80, 85, or 90?
The short answer is Yes, you can get a Medigap plan at the age of 80, 85, or 90 because there is no age limit on a Medigap Plan.
However, the better question is will you be able to afford it and would you qualify medically at that age if you were just starting Medicare or If you were trying to switch to a more affordable plan.
We can’t stress enough the importance of planning out how you will pay for your Medigap plan when you first purchase it. The rates for a Medicare Supplement plan will typically go up each year so planning for the future is important.
Nor can we stress enough the importance of enrolling into Medicare Part A & B as early as possible.
If you are an 80 year old female or male in great health and you think your Medigap rates are entirely too high then we suggest reaching out to us so that we can look into getting you a lower rate.
Taking Action
The best thing about insurance is that it doesn’t cost you anything to find out if you can get approved or covered for a much lower rate. Let Senior Benefit Services provide you a side by side comparison of Medicare Supplement rates in your state.
The process is going to be different for everyone; however, you shouldn’t let that deter you from seeking out more affordable coverage.
No matter if you are turning 65 or 75, feel free to call us at 1.800.924.4727 or fill out our form below for some quick rates.
