How much does a Medicare Supplement Insurance Plan Cost In Arvada, Colorado?
How much does a Medicare supplement plan cost in Arvada, Colorado? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in Colorado than they do in other mid-western states. But there are other factors that have a far greater impact on price.
Below is a list of factors that impact the premium rates of Medicare supplement insurance in Colorado. They are ordered from the most significant impact, to the least:
- Plan Type
- Age
- Company
- Tobacco Use
- Health Status
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 the 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 Information online can be incomplete or outdated, so call the doctors to make sure they're still participating in plans you're considering.
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| CENTURA HEALTH - ARVADA ED 16320 W 64th Ave Arvada, CO 80007 Telephone: (720) 898-1110 Plus Code: RR68+RX Arvada, Colorado |
Company
In Arvada, Medicare supplement insurance monthly premiums can 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 insurance plans are offered by private insurance companies. These companies get to set the pricing of the plans they offer.
Tobacco Use
Most insurance companies in Colorado 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 Colorado will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
Insurance companies offering Medicare Supplement and Medicare Advantage plans include:
- AARP
- Blue Cross Blue Shield
- Kaiser
- Mutual of Omaha
- United of Omaha
- Humana
- Cigna
- Medico
- Combined
- Gerber
- Sentinel Life
On Average For 2024
In Arvada, Colorado, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $108.00 - $137.00.
In Arvada, Colorado, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $115.00 - $165.00.
Good to know: If your family is healthy and doesn't visit the doctor often, a high-deductible health plan could save you hundreds of dollars in lower monthly premiums. In addition, most high deductible health insurance plans are HSA eligible. An HSA eligible plan qualifies you to open a health savings account (HSA). A health savings account is designed to work in concert with a your high deductible health insurance plan. You can save money in your HSA account before taxes and use the funds to pay for eligible health care expenses. Additionally, unused HSA funds continue to grow tax-deferred, year after year.
Have questions concerning Medicare supplement or Medicare Advantage coverage? Allow our experts to assist. We are just a phone call away.
Other articles:
Is Short-Term Health Insurance Right For You?
Affordable Health Insurance in Arvada,CO.
4 Important Steps to Getting Medicare Insurance Coverage in Colorado
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