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How Much Does A Medicare Supplement Plan Cost In Ohio?
How much does a Medicare supplement plan cost in Ohio? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums tend to run slightly higher in Ohio than they do in other nearby states. But there are other factors that have a far greater impact on price.
Keep in mind that when searching for the ideal Medicare supplement plan, cost is a significant factor, is should not be the only factor you should consider.
The most important factor should always be the overall quality of the plan you choose. This includes the benefits of the plan itself, as well as the company
that is behind the plan. Once you are satisfied with the aforementioned qualities of the plan, only then should you consider price.
Good to know: Get assistance from a health care broker. Having someone help with the legwork who understands what you need, can make a major difference. Insurance agents can only help you with the products offered by the company they work for. Brokers can access the products of multiple companies in order to find the right plan for your needs. Brokers do not work for insurance companies, they actually work for you.
Even better, brokers are usually paid by the insurance company, making it possible for them to work for you at no cost.
We will list the factors that impact the premium rates of Medicare supplement insurance. They are ordered from the most significant impact, to the least:Even better, brokers are usually paid by the insurance company, making it possible for them to work for you at no cost.
- Plan Type
- Age
- Company
- Tobacco Use
- Health Status
- Region
- Gender
Plan Type
The most significant factor is the plan type that you choose. For example, the monthly premium of a plan type "F" is going to be significantly higher than the monthly premium of a plan type "K". This is because each Medicare supplement plan type offers a different benefit structure. All supplement plans are designed to cover medical costs that are not covered by traditional Medicare. However, some plans pick up more medical costs than others. These benefit differences are reflected in monthly premium.
Age
With very few exceptions, the older you are, the higher your monthly premium.
Good to know: Pick the right insurance policy. Take the time and put in the work necessary in order to select the right plan. In the state of Florida, for example, if you are shopping for a health insurance plan through the Affordable Care Act exchange, you will be offered around 100 plan variations to choose from. This doesn't even include all of the health plan options that are not on the exchange. So, regardless of where you live, you will likely find a confusing clutter of choices that you will need to sort through. In addition, you want a plan that includes your doctors and your medications, plus provides care for any chronic conditions. Information online can be incomplete or outdated, so call the doctors to make sure they're still participating in plans you're considering.
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| University of Cincinnati Medical Center 234 Goodman St Cincinnati, OH 45219 Telephone: (513) 584-1000 Plus Code: 4FQW+4M Cincinnati, Ohio |
Company
In Ohio, Medicare supplement monthly premiums vary wildly depending upon which insurance company you buy the plan from. The fact that plan benefits may be exactly the same, does not mean the monthly premium will be. While traditional Medicare is a government program, Medicare supplement plans are offered by private insurance companies. They get to set the pricing of the plans they offer.
Tobacco Use
Most insurance companies in Ohio will charge a slightly higher monthly premium for Medicare supplement coverage if you smoke or chew tobacco.
Health Status
In some cases, if you are not enrolling within the open enrollment - guarantee issue time frame for Medicare supplement coverage, some companies in Ohio will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
Gender
Both Medicare supplement and Medicare advantage plan insurance companies tend to offer slightly lower premium rates for women.
Where you live in Ohio
Your Medicare Supplement plan monthly premium will vary depending on where you live in Ohio. Usually, monthly premiums in rural areas tend to be slightly lower than monthly premiums in large metropolitan regions.
Insurance companies offering Medicare Supplement and Medicare Advantage plans include:
- AARP
- Mutual of Omaha
- Combined
- IAC
- Gerber
- Blue Cross Blue Shield
- Humana
- Cigna
- Aetna
On Average For 2024
On average, in Ohio, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $116.00 - $139.00.
On average, in Ohio, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $128.00 - $164.00.
Good to know: Talk to an independent agent. An independent insurance agent is an essential resource when purchasing insurance. An independent agent works with multiple different carriers, which is different from captive agents who can only sell insurance from the carrier they work for. Working with an independent agent can help make sure that you are getting the best coverage, for the best price.
To get an exact rate, click the "Get An Instant Quote Now" at the top of the page!
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