Michigan Medigap Rate Changes

Michigan Medigap Rate Changes

You may be asking your self what makes my Michigan Medigap Rate Changes?

well every state can be diffarent but the basics are the same. There is three types on rate changes on Medigap Plans.

 

Type of pricing How it’s priced What pricing may mean for you Examples
Community-rated (also called No-Age-Rated) The same monthly premium is charged to everyone who has the Medigap policy, regardless of age. Premiums are the same no matter how old you are. Premiums may go up because of inflation and other factors.

Mr. Smith is 65. He buys a Medigap policy and pays a $165 monthly premium.


Mrs. Perez is 72. She buys the same Medigap policy as Mr. Smith. She also pays a $165 monthly premium because with this type of policy, everyone pays the same price, regardless of age.

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Issue-Age-Rated Policies The premium is based on the age you are when you buy (are “issued”) the Medigap policy. Premiums are lower for younger buyers and won’t change as you get older. Premiums may go up because of inflation and other factors.

Mr. Han is 65. He buys a Medigap policy and pays a $145 monthly premium.


Mrs. Wright is 72. She buys the same Medigap policy as Mr. Han. Since she is older at the time she buys it, her monthly premium is $175.

Attained-Age-Rated Policies The premium is based on your current age (the age you have “attained”) so your premium goes up as you get older. Premiums are low for younger buyers, but go up as you get older and can eventually become the most expensive. Premiums may also go up because of inflation and other factors.

Mrs. Anderson is age 65. She pays a $120 monthly premium. Her premium will go up every year.

  • At age 66, her premium goes up to $126
  • At age 67, her premium goes up to $132
  • At age 72, her premium goes up to $165

Mr. Dodd is age 72. He buys the same Medigap policy as Mrs. Anderson. He pays a $165 monthly premium. His premium is higher than Mrs. Anderson’s because it is based on his current age. Mr. Dodd’s premium will go up every year.

  • At age 73, his premium goes up to $171
  • At age 74, his premium goes up to $177Now that you understand what might make your rate rise here are some of the rate changes in Texas on some of the top companies

Michigan Medigap Rate Changes

Based off a Woman 65yrs of age in michigan lansing zip code 48911

Company Year A B C D F F (high) G K L M N
Aetna Life Insurance Company 2012 0.0% 0.0% 0.0% 0% -18.0% 0% 0.0% 0% 0% 0% 0.0%
Aetna Life Insurance Company 2013 -14.0% -14.0% -14.0% 0% 5.0% 0% 5.0% 0% 0% 0% 5.0%
Aetna Life Insurance Company 2014 9.0% 9.0% 9.0% 0% 9.0% 0% 9.0% 0% 0% 0% 9.0%
AFLAC 2013 10.0% 0% 10.0% 10.0% 10.0% 0% 10.0% 0% 0% 0% 10.0%
American Continental Insurance Company 2012 -10.0% -10.0% -10.0% 0% -10.0% -10.0% -10.0% 0% 0% 0% -10.0%
American Continental Insurance Company 2013 6.0% 6.0% 6.0% 0% 6.0% 6.0% 6.0% 0% 0% 0% 6.0%
American Continental Insurance Company 2014 4.0% 4.0% 4.0% 0% 4.0% 4.0% 3.0% 0% 0% 0% 3.0%
Bankers Fidelity Life Insurance Company 2011 7.6% 0% 8.1% 0% 8.0% 0% 7.8% 8.0% 0% 0% 0%
Bankers Fidelity Life Insurance Company 2012 7.9% 0% 8.1% 0% 8.0% 0.0% 8.0% 7.4% 0% 0% 0%
Bankers Fidelity Life Insurance Company 2013 8.0% 0% 8.0% 0% 7.9% 0.0% 8.1% 8.0% 0% 0% 0%
Bankers Fidelity Life Insurance Company 2014 0.0% 0% 0.0% 0% 0.0% 0.0% 0.0% 0.0% 0% 0% 0%

Didnt see the Medigap Companies you were looking for? Contack me at (475) 88CARLY (475)-882-2759

 

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By MEDIGAP on Incline