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How Much Does A Medicare Supplement Plan Cost In Tennessee?
How much does a Medicare supplement plan cost in Tennessee? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums tend to run slightly higher in Tennessee 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.
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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
- Gender
Plan Type
The most significant factor is the plan type that you choose. For example, the monthly premium of a plan type "F" will likely be consistently higher than the monthly premium of a plan type "K" - no matter which insurance carrier you decide upon. This is because each Medicare supplement plan type designates a unique plan 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: Pay less for prescriptions. Go generic, for starters. In almost every case, generics are just as good as name brands and are much cheaper, says Catherine Tom-Revzon, a pharmacist at The Children's Hospital at Montefiore, in New York City. Second, compare costs since prices vary significantly from store to store. Your best bet may be a warehouse club like Costco or Sam's Club. (You don't even need to be a member.) Another option: If your plan has a mail order pharmacy, you might be able to get 90 days' worth of prescriptions mailed to you for two co-pays.
courtesy of Parents.com
courtesy of Parents.com
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| Baptist Memorial Hospital Memphis 6019 Walnut Grove Rd Memphis, TN 38120 Telephone: (901) 226-5000 Plus Code: 44HR+G6 Memphis, Tennessee Website: click here |
Company
In Tennessee, 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 Tennessee 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 Tennessee 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 Tennessee
Your Medicare Supplement plan monthly premium will vary depending on where you live in Tennessee. 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 Tennessee, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $114.00 - $129.00.
On average, in Tennessee, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $122.00 - $153.00.
Good to know: Many plans don't provide drug benefits, or discounts, even on generics, until you reach your deductible, which is often in the thousands of dollars. Instead of just accepting your insurance plan's lousy prescription drug benefit, try using websites such as Blinkhealth.com or Goodrx.com to shop around for the best price for your medication in your area.
To get an exact rate, click the "Get An Instant Quote Now" at the top of the page!
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