Texas Medicare Supplement Insurance Companies
Here at Texas Healthcare Specialists, Inc. it is our job to offer the best possible Medicare supplement insurance coverage at the best rate available in your area. Even though insurance companies who offer Medicare supplement insurance plans have to sales the same "standardized" plans, it does not mean that every company has to offer all plans.
There are many factors to look at when choosing a Texas Medigap insurance policy. Looking at the insurance company's financial rating as well as complaints is always a good place to start. Even if you find a solid insurance company, how do you know if you are getting the best rate? Remember, while you are doing homework to find the best Medicare supplement rates, insurance companies that offer Medigap insurance policies have already done their homework to see how they will offer rates in your area.
Medicare supplement premiums are figured with many different factors; including but not limited to age, zip code, tobacco use, and gender. Knowing how a Medicare supplement company sets their rate can also be very useful. There are three ways Medicare supplement insurance companies will set their rates:
Attained Age Pricing - You will find that this is usually the most popular method of setting pricing. It's pretty simple, the older you get the more expensive the premium will get. However, age isn't the only factor in your rate increase. Companies will use age and medical inflation to factor each year's annual premium increase percentage.
Issue Age Pricing - This type of pricing is not as common as it used to be. There are a few companies that offer this type of set pricing in which your rates are set at a certain age and will always get rates as though you were the age at which you took the policy. This might seem that your rate will be locked in, however these companies still issue rate adjustments due to medical inflation. These policies tend to be more expensive at age 65 compared to the attained age plans.
Community Rating - This more of a broader way to set prices for an insurance company. Community rating provides the same rate for a particular plan for everyone in a certain area without using factors such as age, gender, or tobacco use. Community Rating tends to be higher if your younger and don't use tobacco, but could be a good option if your older or use tobacco.
As you can see shopping for a Texas Medicare Supplement insurance coverage can be quite complicated. The good news is we are here to help you through the whole process and can help find you the best, most affordable Medigap insurance plan. Contact an agent today to for your free, no-obligation Medicare supplement quotes at (512) 868-4469.