Maryland residents who are turning age 65 are being advised to compare Medicare insurance policies as a way of achieving significant savings. Rates across Maryland for virtually identical Medigap insurance can vary significantly according to the American Association for Medicare Supplement Insurance (AAMSI).
"In Baltimore a man turning age 65 could pay as little as $136 monthly or as much as $225 for basically identical Medigap coverage," shares Jesse Slome, director of the Association. "If he pays premiums for 10 years, the small amount will add up to well over $10,000 which I would call a significant reason to do a little comparison shopping."
According to Slome, there are other benefits to comparing policy options and costs. "There can be added fees as well a available discounts for two-person households. In Maryland, they vary from zero to as high as 12 percent," Slome reports.
The American Association for Medicare Supplement Insurance 2020 Price Index reports both the lowest and highest insurance rates for Plan G. "Medigap Plan G is the most popular choice among seniors turning 65," Slome explains. To see 2020 Medicare insurance pricing for top U.S. cities visit the organization's website.
Maryland Medicare Supplement Plan G 2020 Price Index Findings
BALTIMORE, MD (Zip 21215)
FEMALE age 65, Plan G
Lowest monthly premium: $123.30
Highest monthly premium: $224.24
MALE age 65, Plan G
Lowest monthly premium: $135.62
Highest monthly premium: $224.24
Germantown, MD (Zip 20874)
FEMALE age 65, Plan G
Lowest monthly premium: $123.30
Highest monthly premium: $224.24
MALE age 65, Plan G
Lowest monthly premium: $135.62
Highest monthly premium: $224.24
SILVER SPRING, MD (Zip 20906)
FEMALE age 65, Plan G
Lowest monthly premium: $123.30
Highest monthly premium: $224.24
MALE age 65, Plan G
Lowest monthly premium: $135.62
Highest monthly premium: $224.24
To locate local Maryland Medicare insurance agents consider using the Association's online directory of local Medicare agents. "The national's largest listing of Medicare insurance advisors is free to use and completely private," Slome adds.
Headquartered in Los Angeles, the American Association for Medicare Supplement Insurance is an advocacy and informational organization. The national organization supports insurance professionals who market Medicare Supplement insurance.
Jesse Slome is director of the American Association for Critical Illness Insurance. He also directs the American Association for Long-Term Care Insurance. Visit their website to get long-term care insurance quotes. To find local Medicare insurance agents visit the American Association for Medicare Supplement website.