People thinking about moving after retirement are more concerned with the weather than they are about changes in health-care costs, according to a recent survey. But a comparison of insurance prices shows that failing to compare Medicare premiums could lead to surprises. That's because rates can vary greatly-by locale, company or both. The low-cost provider you researched so diligently in one place may be one of the most expensive elsewhere.
Premium prices depend on the cost of care in a given community and on the local pool of insured customers. "If you're moving, you shouldn't assume that your costs will be anywhere near what you're paying today," says Peter Landau, vice-president of Longevity Alliance, a network of insurance brokers.
For example, a 67-year-old female nonsmoker might pay $1,383 a year in Chicago for a standardized Plan F Medicare supplement policy, but she'd pay $3,527 for the same coverage with the same company in Miami and $1,207 in Phoenix. With a competing firm, she'd pay $2,736 a year in Miami and $1,440 in Phoenix.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Medicare Advantage plans, based on regional networks of doctors and services, don't transfer at all. You'll have to enroll anew, assuming an Advantage option is available. The plans aren't standardized, so you'll need to scrutinize benefits.
As long as your health hasn't changed, some comparison-shopping is in order. At Medicare.gov, you'll find a range of rates, benefits and contact information for companies providing coverage in a certain zip code. Or contact a broker who represents a variety of companies and plans.
-
What’s the New 2026 Estate Tax Exemption Amount?Estate Tax The IRS just increased the exemption as we enter into a promising tax year for estates and inheritances.
-
The Economy on a Knife's EdgeThe Letter GDP is growing, but employers have all but stopped hiring as they watch how the trade war plays out.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
Roth IRA Contribution Limits for 2025Roth IRAs Roth IRAs allow you to fund your retirement with after-tax dollars while you're working, and then withdraw those contributions and earnings tax-free when you retire. Here's a look at 2025 limits and income-based phaseouts.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to a Cheap Last-Minute VacationTravel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
-
How Much Life Insurance Do You Need?insurance When assessing how much life insurance you need, take a systematic approach instead of relying on rules of thumb.
-
When Does Amazon Prime Day End in October? Everything We Know, Plus the Best Deals on Samsonite, Samsung and MoreAmazon Prime The Amazon Prime Big Deal Days sale ends soon. Here are the key details you need to know, plus some of our favorite deals members can shop before it's over.
-
How to Shop for Life Insurance in 3 Easy Stepsinsurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
