Seniors turning 65 this year across Michigan are strongly advised to compare Medicare insurance policies. The savings could be significant according to the American Association for Medicare Supplement Insurance (AAMSI).
"A woman turning 65 in Detroit could pay as little as $108 each month or as much as $304 and that's for basically identical Medigap coverage," shares Jesse Slome, director of the Association. The organization reports on lowest and highest Medicare insurance rates to highlight the importance of comparison-shopping.
The study suggests that couples should watch for added fees. "They should also know about available household discounts available," Slome recommends. "In Michigan two-person households have available discounts that range from zero to as high as 14 percent."
The Association's 2020 Medicare Supplement Price Index reports rates for Medigap Plan G. "We look at Plan G because of it's popularity among seniors turning 65," Slome explains. "Our goal is educating more consumers about the importance of comparing options. You might be making a decision that you cannot easily change down the road."
Medicare insurance pricing for top U.S. cities can be found on the organization's website. The Association also posts tips for getting coverage shared by top Medicare insurance advisors.
Michigan Medicare Supplement Plan G 2020 Price Index Findings
DETROIT, MI (Zip 48228)
FEMALE age 65, Plan G
Lowest monthly premium: $107.95
Highest monthly premium: $303.77
MALE age 65, Plan G
Lowest monthly premium: $121.98
Highest monthly premium: $349.41
GRAND RAPIDS, MI (Zip 49504)
FEMALE age 65, Plan G
Lowest monthly premium: $97.43
Highest monthly premium: $227.83
MALE age 65, Plan G
Lowest monthly premium: $107.17
Highest monthly premium: $262.06
ANN ARBOR, MI (Zip 48103)
FEMALE age 65, Plan G
Lowest monthly premium: $107.95
Highest monthly premium: $303.77
MALE age 65, Plan G
Lowest monthly premium: $121.98
Highest monthly premium: $349.41
Consumers looking for local Michigan Medicare insurance agents can use th American Association for Medicare Supplement Insurance (AAMSI) online directory of local Medicare advisors. "The national's largest listing of Medicare insurance agents is free to use and completely private," Slome adds.
AAMSI 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.