What determines the rate in an entry age rating?

In an entry age rating system, the premium rates are determined based on the age of the member at the time they first enroll in the Medicare Supplement Insurance plan. This means that if a member enrolls at a younger age, they will typically enjoy lower premium rates for the duration of their coverage compared to a member who enrolls at an older age. This system reflects the expected costs associated with the medical care of individuals as they age, which generally contribute to higher insurance costs over time. As members age, their premiums remain relatively stable and will not increase sharply at older ages, as would be the case in other rating systems. The age on the effective date of the plan does not influence the premiums charged to the enrollee after they join; rather, it locks in a specific rate that the member will pay based on the age they were at the time of enrollment.