Illinois seniors turning 65 should carefully shop for Medicare insurance. That's because prices for virtually identical coverage can vary. An analysis by the American Association for Medicare Supplement Insurance (AAMSI) report prices for Chicago, Aurora and Naperville, three major cities in Illinois.
"One Medicare insurance company charges $92 while another charges $234 for the same Medigap plan," shares Jesse Slome, director of the Association. "In Illinois not only do rates vary but added fees vary and available discounts can vary from a low of three percent to as high as 14 percent."
The Association's 2020 survey reports the lowest and highest Medicare Supplement insurance rates for Plan G. "Plan G is the most popular choice among seniors turning 65," Slome explains. Before signing on the dotted line we urge consumers to compare their options. You might be making a decision that you cannot easily change down the road."
"The individual insurance companies each set their pricing for Illinois applicants," Slome notes. "Medicare insurance can be complicated especially when you are new to the plan. That's why we advocate for working with a knowledgeable local Medicare insurance advisor or agent."
Illinois Medigap Plan G 2020 Price Index Findings
CHICAGO, IL (Zip 60629)
FEMALE age 65, Plan G
Lowest monthly premium: $91.78
Highest monthly premium: $233.54
MALE age 65, Plan G
Lowest monthly premium: $103.68
Highest monthly premium: $257.48
AURORA, IL (Zip 60505)
FEMALE age 65, Plan G
Lowest monthly premium: $91.78
Highest monthly premium: $233.54
MALE age 65, Plan G
Lowest monthly premium: $103.68
Highest monthly premium: $233.54
NAPERVILLE, IL (Zip 60540)
FEMALE age 65, Plan G
Lowest monthly premium: $91.78
Highest monthly premium: $233.54
MALE age 65, Plan G
Lowest monthly premium: $103.68
Highest monthly premium: $233.54
The American Association for Medicare Supplement Insurance provides an online directory to find Illinois Medicare insurance agents. "The nation's largest listing of Medicare insurance advisors is free to use and completely private," Slome adds.
Located in Westlake Village, California, the American Association for Medicare Supplement Insurance (AAMSI) is an advocacy and informational organization. AAMSI 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.