While this may be confusing, it helps to know that when it comes to Medicare supplements that it’s the same plan, but a different price at different locations.

Confused about Pennsylvania Medicare supplements and why they happen to be differently priced depending on where you happen to call? Medicare supplements or Medigap are priced differently because each health insurance broker that carries them may charge what they think the market will bear. This means if you take the time to shop around, chances are you will find a deal on Medicare supplements.

The thing you really need to know is that Medicare is offered by the government and Medicare supplements are offered by private insurance companies. These companies are in the business of selling insurance and making a profitable bottom line to keep operating. They can price their products in any way that keeps that bottom line healthy and them in business.

Generally speaking, there are three ways for an insurance company to price their products. For instance, there is the community rated policy, which means it doesn’t matter how old you are; the policy price is the same. Put another way, while the premiums or monthly payments may go up, the price won’t go up because of your age. It’s more likely to increase, thanks to inflation.

There is another category that is referred to as issue-age-related and this does mean what you pay is related to how old you are when you buy your policy. This means you will be charged the same amount as other individuals in your community who are the same age.

Another way to price policies is to base them on attained-age-rated practices. This one simply means that as you get older, the premiums automatically increase each year. It’s usually a good idea to ask the company you are considering how they base their charges. This helps you figure out your health insurance budget now and in the future.

Speaking of budgets, it’s a good thing for seniors to know what they might be facing in terms of Medicare supplement premiums. In order to do this, it’s in their best interest if they check around with multiple companies for pricing. The other thing to watch out for is if the insurance company offers discounts, like two-for-one pricing on a married couple buying insurance, paying your premiums by online methods, or for non-smokers. Also, does the company sell Medicare Select? It’s a policy only sold in some states and usually means that you have to use specific hospitals and doctors in network. The premiums may be less for this plan.

Finally, you’ll want to know if the insurance company offers a high deductible option for Medigap plans. Once you know the answers to those questions, you should be able to make an informed decision as to what kind of Medicare supplement would suit your circumstances.