Medigap Plans in Tampa: Breaking Down the Costs

medigap plans in Tampa

Are you considering purchasing Medigap Plans in Tampa? If you have Original Medicare and would like to lower your out-of-pocket expenses, such as co-pays, deductibles, and coinsurance, Medicare Supplement plans offer viable benefits. You can select from different Medicare supplement plans, which are represented by a unique letter and benefits. However, knowing the costs can differ significantly depending on your needs, area, and insurance providers. To learn about the costs of Medigap plans and how to lower your premiums, continue reading this post.

How Much Does Medigap Plans in Tampa Cost

The cost of a Medigap insurance plan can vary widely depending on various factors such as your location, age, gender, health status, and the specific plan you choose. However, the average cost of a Medigap plan in the United States ranges from around $100 to $300 per month. Some plans may be cheaper, while others may be more expensive, depending on the level of coverage they offer.

It’s important to note that Medigap plans are standardized and labeled with letters (e.g., Plan F, Plan G, Plan N), but the coverage and premiums can vary from one insurance company to another. Additionally, insurance companies may use different pricing methods, such as community-rated, issue-age-rated, or attained-age-rated pricing, which can also affect the cost of the plan.

To get an accurate estimate of the cost of a Medigap plan for your specific situation, it’s best to shop around and compare quotes from different insurance companies. You can also consider consulting with a licensed insurance agent who can provide personalized assistance based on your needs and preferences.

What are the 4 Factors that Influence Medigap Plan Costs

These factors can vary depending on the insurance company and the state in which you reside. It’s essential to compare quotes from different insurers and understand how these factors may impact the cost of your Medigap plan.

  1. Location —- The cost of Medigap plans can vary depending on where you live. Insurance companies may use different pricing methods and may have varying costs based on the healthcare expenses and regulations in your area.
  2. Age —- Your age can also affect the cost of a Medigap plan. In most states, insurers use one of three methods to set premiums: community-rated (or no-age-rated), issue-age-rated, and attained-age-rated. In issue-age-rated plans, premiums are based on your age when you first buy the policy. In attained-age-rated plans, premiums may start lower but increase as you age. Community-rated plans charge the same premium to everyone, regardless of age.
  3. Gender —- In some states, insurers are allowed to use gender as a factor in determining Medigap premiums. This means that men and women may have different premium rates for the same plan.
  4. Health Status —- In most states, insurers can use medical underwriting to set premiums for Medigap plans. This means that your health status can affect the cost of your plan. If you have pre-existing conditions or health issues, you may be charged a higher premium. However, some states have restrictions on medical underwriting or offer guaranteed issue rights, which prevent insurers from denying you coverage or charging you higher premiums based on your health status.

How to Save Premiums on Medigap Plans in Tampa, FL

It’s crucial to carefully evaluate your healthcare needs, budget, and available plan options when selecting a Medigap plan in Tampa to ensure you’re getting the coverage you need at a price you can afford. Consulting with a licensed insurance agent or counselor can also provide personalized guidance and assistance in navigating your options.

There are several strategies you can consider to potentially pay less for Medicare Supplement (Medigap) insurance premiums:

  • Compare Plans 

Different insurance companies may offer the same Medigap plans at different prices. It’s essential to compare plans from multiple insurers to find the most competitive rates while ensuring the coverage meets your needs.

  • Enroll During Open Enrollment

During your Medigap Open Enrollment Period, which typically lasts for six months and starts the month you’re both 65 or older and enrolled in Medicare Part B, insurance companies are generally required to offer you any Medigap plan they sell, regardless of your health status. Enrolling during this period can help you secure coverage at a lower cost, as insurers cannot charge higher premiums based on pre-existing conditions.

  • Consider High-Deductible Plans

High-deductible Medigap plans typically have lower monthly premiums than plans with lower deductibles. While you’ll pay more out-of-pocket expenses before your coverage kicks in, if you’re generally healthy and don’t anticipate frequent healthcare needs, a high-deductible plan could save you money in the long run.

  • Take Advantage of Household Discounts 

Some insurance companies offer discounts on Medigap premiums if multiple individuals in the same household have policies with the same insurer. Inquire about any potential discounts when comparing plans.

  • Maintain Good Health Habits 

Staying healthy can help you save on healthcare costs overall, including Medigap premiums. Exercise regularly, eat a balanced diet, avoid tobacco use, and manage chronic conditions to reduce medical expenses.

medigap plans in tampa

Frequently Asked Questions

What factors influence the cost of Medigap plans?

The cost of Medigap plans can be influenced by various factors such as your location, age, gender, health status, and the specific plan you choose. Insurance companies may also use different pricing methods, including community-rated, issue-age-rated, or attained-age-rated pricing.

Can I expect Medigap premiums to increase over time?

While Medigap premiums can increase over time, factors such as your age and the pricing method used by the insurance company can influence the rate of increase. It’s essential to review your plan annually and compare options during the Medicare Open Enrollment Period to ensure you’re getting the best value.

Are there any discounts available for Medigap plans?

Some insurance companies offer discounts on Medigap premiums for various reasons, such as non-smoker discounts or household discounts if multiple individuals in the same household have policies with the same insurer. However, not all companies offer discounts, so it’s essential to inquire when comparing plans.

How can I lower my Medigap plan costs?

There are several strategies to potentially lower Medigap plan costs, including comparing plans from different insurers, choosing a high-deductible plan if appropriate, enrolling during the Medigap Open Enrollment Period, maintaining good health habits, and reviewing and reevaluating your coverage annually.


You can get Medigap plans in Tampa to assist in covering medical expenses that original Medicare does not cover. The government standardizes and regulates ten varieties of Medigap plans. To learn more about your options, you can speak with our professional insurance brokers, who will guide you in finding the right plan for your needs. Contact us today.

Would You Like Us To Review Your Policies?

Request Your Proposal Here

Are you ready to save time, aggravation, and money? The team at Alliance Health Group is here and ready to make the process as painless as possible. We look forward to meeting you!