Retirement & Financial Planning Report

Although there are 10 standard Medicare supplement (“Medigap”) policies, labeled A through J, with identical features, prices may vary widely. In Lafayette, Louisiana, for example, United American Insurance Co. charges a 65-year-old female $2,048 per year for Plan F while Golden Rule Insurance Co. charges only $1,096 for the same plan, reports Weiss Ratings, Palm Beach Gardens, Florida. Therefore, shop around before buying a Medigap policy. Web sites such as allow you to compare one company’s prices with another’s. Consider the insurer’s financial strength, too, because you want a company that will be around to pay those promised benefits.