Controlling the Cost of Medigap Policies: Discounts

When you think of Medicare or Medigap you may first shift your line of thought to a very stuffy and government run process that doesn’t have much flexibility. While this would be fair because of the way the government runs most programs, there are some flaws in this line of thinking. First, many people don’t realize that discounts are available on Medigap policies depending on your Medigap provider.

Since Medigap policies are offered by different insurance companies there is no guarantee that you will see all of these discounts available. Non-smokers always tend to get discounts from insurance companies as do married couples and sometimes even women. These are discounts that are based on attributes of you or your lifestyle.

There are some other discounts that have to do with having multiple insurance policies with the company, paying by electronic funds transfer or paying on an annual basis. Remember that not all of these discounts are available through all Medigap insurance companies, but most are. Make sure to ask when you are starting your policy so you can save every penny that you may need for other costs.