Issue Age vs Attained Age Medigap Plans

Which is better attained age or issue age (The best pricing method)?

Different people have different opinions about the best way to price a Medigap plan. There are pros and cons to both issue age vs attained age Medigap policies.

The rates for Medigap policies usually go up a little bit each year to keep pace with inflation. The state insurance department has to approve any rate increase, so the increases are usually pretty small.

Additionally, attained-age rated policies are the most common type of policy, meaning that there is a large pool of insured policyholders. This helps to reduce and spread the insurance risk over many people, making pricing on this type of policy very competitive. In general, attained-age policies might be more expensive in the short run but may be a better value in the long run. Issue-age policies can be a good value in areas where they are common. Ultimately, the best policy for you will depend on your specific needs and budget.

The rules regarding Medigap pricing methods vary from state to state. In some states, insurance companies are allowed to choose their own rating method. However, in other states, the companies are told which method is allowed to be used. It is important to work with a licensed Medicare agent who understands the rules of your state and can inform you of the various pricing methods available to you.

In conclusion, it is important to remember that all three pricing methods will go up over time. The best way to find a good deal is to choose a company with low rates now, and that has a history of not increasing rates too much. If you need help comparing plans, companies or rates, we can assist you. Just contact REMEDIGAP today at 1-888-411-1329. Don’t have time to call? Fill out our request form here.