NU Online News Service, July 17, 2003, 4:34 p.m. EDT – Disparities in Medicare supplement insurance prices may be even greater this year than they were in 2002, according to statistics from Weiss Ratings Inc., Palm Beach Gardens, Fla.
Medicare supplement insurers sell 10 standard Medigap plans, ranging from Plan A to Plan J, in the District of Columbia and all states but Massachusetts, Minnesota and Wisconsin.
Weiss researchers asked the insurers for Medigap rate quotes for a hypothetical 65-year-old female applicant.
The two most commonly purchased Medigap policies are Plan F policies and Plan C policies.
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Weiss researchers found that the most expensive Plan F policy available this year, which is sold in Ohio, is 7.2 times as expensive as the least expensive Plan F policy, which is sold in Indiana.
The ratio of the cost of the most expensive Plan F policy to the cost of the least expensive Plan F policy has increased from 5.8 in 2002.