Anyone buying a Medigap policy should find out exactly what the premium will be. A few companies charge everyone the same amount.
Most companies charge different premiums based on the age of the person applying for coverage.
Several companies also use other factors, such as different rates for men and women or different rates in different parts of the state. You should find out what happens to your premium as you get older. The premium for your policy will increase every year primarily due to inflation in medical costs and the increase in Medicare deductibles and copayments. The amount your premium goes up may also depend on the way in which the company reflects the aging of its policyholders in rates charged. Be sure to ask the agent for any company you are considering what approach the company uses.