Texas Medigap Insurance Rate Changes
Medigap Plans rates can change every year and most do if they are Attained-Age-Rated Policies. There are two other types of plans Community-rated (also called No-Age-Rated) and Issue-Age-Rated Policies. Below is what type of pricing you can expect.
|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.
|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.|
|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.
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.
Texas Medigap rate changes
Now that you understand what might make your Texas Medigap plan rates change, Here are some of the rate changes in Texas based on a woman that’s the age of 69 in Texas zip code 75169 city Wills Point.
|Aetna Life Insurance Company||2013||-14.0%||-14.0%||-14.0%||0%||-14.0%||0%||5.0%||0%||0%||0%||5.0%|
|Aetna Life Insurance Company||2014||8.0%||8.0%||8.0%||0%||8.0%||0%||8.0%||0%||0%||0%||8.0%|
|Aetna Life Insurance Company||2015||9.0%||9.0%||9.0%||0%||9.0%||0%||9.0%||0%||0%||0%||0.0%|
|BlueCross BlueShield of Texas||2013||0%||0%||0%||0%||-0.6%||0%||1.4%||0.0%||0.0%||0%||1.7%|
|BlueCross BlueShield of Texas||2013||5.5%||0%||0%||0%||4.1%||3.1%||3.3%||3.0%||3.4%||0%||3.5%|
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