Learn the Lingo: What does “Attained Age” mean?

Learn the Lingo: What does “Attained Age” mean?

Insurance prices can feel like a mystery. Why does one company charge more than another for the same thing? Why does my neighbor have the same insurance as me, but they don’t pay as much?

While insurance rates vary due to a number of reasons, one of the biggest reasons is your age.

Companies set up different pricing structures based on how old you are, and one of those structures is called “attained age.”

If you get an insurance policy, such as a Medicare Supplement, that is based on an attained age pricing structure, your monthly premiums will be based around your (you guessed it) age.

Each year, your premium will go up.

This means that your premium could be pretty reasonable when you first sign up, but after a few years, it could become pretty expensive.

The caveat to this is that the entire structure is based on the age in which you “attain” your policy. If you attain it at age 65, your premium will be cheaper later on compared to attaining it at age 70.

How attained-age pricing structures work

Let’s say you’re turning 65, and it’s time to enter the world of Medicare. You apply for a Medicare Supplement, and your monthly premium is $100.

Next year, when you turn 66, your premium will go up another couple of dollars. By the time you’re 75, your premium could be, say, $175 per month.

It’s pretty straight forward in this way — each year, on your birthday, your premium will increase.

However, the reason this is called “attained age,” is because your premium will be higher if you apply later on.

OK, here’s another example.

Let’s say you bought the same policy, but you waited to purchase it until you were 75. Your premium is now $200. It will also go up each year.

So, while the premium will go up every year no matter what, you’re better off if you “attain” the policy at a younger age.

If you’d like to start comparing different Medigap plans in your area, let us know. We’d be happy to do some price comparisons and show you how this attained age structure would work for you.

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Disclaimer: We do not offer every plan available in your area. Currently we represent 4 organizations which offer 41 products in your area. Please contact, 1‑800‑MEDICARE, or your local State Health Insurance Program to get information on all of your options. Not connected with or endorsed by the United States government or the federal Medicare program.