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How Much Does A Medicare Supplement Plan Cost In Alabama?


How much does a Medicare supplement plan cost in Alabama?  Well, that depends upon a variety of factors.  Generally, Medicare supplement plan monthly premiums run slightly lower in Alabama than they do in most other 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.

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
  • Where you live in Alabama

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:  Medicare and Medicaid in America account for more than 1 of every 3 dollars spent on American health care, and 1 of every 4 dollars in the federal budget.  What is astounding is the fact that the cost of Medicare is still growing.  Currently, the cost is growing at more than twice the rate of inflation.  This growth curve is expected to become even more dramatic as the baby boomers age.

UAB Hospital
UAB Hospital
1802 6th Avenue South
Birmingham, AL 35233
Phone: 205.934.3411
Plus Code: G54W+JQ Birmingham, Alabama
Company
In Alabama, 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 Alabama 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 Alabama will charge you a higher rate if you have specific medical issues.  Please contact us if you have questions concerning this.

Where you live in Alabama
Your Medicare Supplement plan monthly premium will vary depending on where you live in Alabama.  Usually, monthly premiums in rural areas tend to be slightly lower than monthly premiums in large metropolitan regions.

On Average For 2020

On average, in Alabama, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $143.00 - $162.00.
On average, in Alabama, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $152.00 - $179.00.

Good to know:  Ask questions.  If you don't understand the details of the plan offered, contact the insurance company or give us a call.  While there are a variety of online tools and resources that can help, the best thing to do is simply pick up the phone and talk to an insurance professional.  You need to clearly understand what you're buying.



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