How much does a Medicare Supplement Plan Cost In Pittsburgh, PA?
How much does a Medicare supplement plan cost in Pittsburgh, PA? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in Pennsylvania than they do in other surrounding states. But there are other factors that have a far greater impact on price.
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:
- Plan Type
- Age
- Company
- Tobacco Use
- Health Status
- Region
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 "high deductible plan type F". 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.
Interesting Fact: The United States spends over $8,250 per capita on health care every year - that's over 22% higher than the next highest country in the world and over 170% higher than the average of the highest-spending 50 countries in the world. In 1960, the per capita cost of health care was $147 per person in America; adjusted for inflation, it would be $1,082 today; that means our current per capita cost has grown over 660% above and beyond normal inflation. As a portion of the gross domestic product (GDP), health care spending accounts for 17.7 percent. The U.S. is second in the world and first among developed nations for the highest health care spending as a percentage of GDP. The total amount of money spent on health care each year in the United States is $2.6 trillion, and it is expected to continue rising. By 2021, spending on health care each year is expected to be $4.8 trillion. It is estimated that 30% (about $750 billion) of health care spending each year is wasted.
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| UPMC Mercy 1400 Locust St Pittsburgh, PA 15219 Telephone: (412) 232-8111 Plus Code: C2P7+CV Pittsburgh, Pennsylvania |
Company
In Pittsburgh, Pennsylvania 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 Pennsylvania 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 Pennsylvania will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
Gender
Medicare supplement insurance plan rates in Pennsylvania are affected by gender. The monthly premium rates tend to be slightly lower for women than they are for men.
Region
The cost of your Medicare supplement plan can vary moderately dependent on where you live within the state. There are a multitude of factors that impact this variance of pricing within Pennsylvania. Such factors include: The regional costs of physician and hospital services, Fee schedule negotiated by the insurance companies for services. Fee schedule negotiated by the insurance companies for prescription drug pricing.
On Average For 2024
On average, in Pittsburgh, Pennsylvania, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $100.00 - $207.00.
On average, in Pittsburgh, Pennsylvania, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $112.00 - $220.00.
Good to know: When selecting a health plan for you or your family, don't just choose the one with the lowest monthly premium or the one you had before. Plan benefits can change from year to year - in some cases, significantly. Your individual or family needs can also change. For example, the addition of a new prescription drug utilized by a family member, can significantly alter the cost / benefit ratio of any health insurance, or healthcare sharing plan. Jot down your family's average number of doctor visits per year, routine prescriptions, dental cleanings, and other services. Compare what you'd pay over an entire year for these items on each plan option that is available to you. And don't forget to factor in monthly premiums and deductibles.
Other articles:
Explaining the Growth of HealthCare Sharing Plans.
Faith-Based Health Insurance (Healthcare Sharing Plans) In Pittsburgh
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