How Much Does A Medicare Supplement Plan Cost In Arkansas?
How much does a Medicare supplement plan cost in Arkansas? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly lower in Arkansas 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
- Tobacco Use
- Health Status
- Where you live in Arkansas
The most significant factor is the plan type that you choose. For example, the monthly premium of a plan type "G"
is going to be significantly higher than the monthly premium of a 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.
With very few exceptions, the older you are, the higher your monthly premium.
Arkansas Children's Hospital
1 Children's Way
Little Rock, AR 72202
Phone: (501) 364-1100
Plus Code: PPR5+95 Little Rock, Big Rock Township, AR
In Arkansas, 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.
Most insurance companies in Arkansas will charge a slightly higher monthly premium for Medicare supplement coverage if you smoke or chew tobacco.
In some cases, if you are not enrolling within the open enrollment - guarantee issue time frame for Medicare supplement coverage, some companies in Arkansas 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 Arkansas
Your Medicare Supplement plan monthly premium will vary depending on where you live in Arkansas. 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 Arkansas, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female
applicant would be: $123.00 - $155.00
On average, in Arkansas, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male
applicant would be: $142.00 - $174.00
Good to know: When it comes to dealing with your medical insurance company, forget the touchy-feely commercials and go with your head. Don't buy the advertising hype. The primary function of multi-billion dollar insurance companies is to make more billions for themselves and their investors. This means that when you deal with your insurer, you need to remain objective and check your emotions.
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