The average monthly cost of a Medicare Supplement plan, also known as Medigap, varies widely depending on several factors, including the specific plan chosen, the beneficiary’s age, location, gender, and health status. Generally, monthly premiums can range from $50 to over $300. For instance, a 65-year-old nonsmoking female living in Texas might pay around $100 per month for Plan N, while the same person might pay closer to $150 for Plan G. Rates can be significantly higher in states with a higher cost of living or for individuals who choose plans with more comprehensive coverage. While all Medicare Supplement plans offer standardized benefits set by federal regulations, premiums are set by private insurance companies. These companies use three primary pricing methods: community-rated, issue-age-rated, and attained-age-rated. These methods can affect how much the beneficiary pays initially and how premiums might increase over time. To learn more, speak with our Medicare advisors today.