How much does a Medicare Supplement Insurance Plan Cost In Centennial, Colorado?
How much does a Medicare supplement plan cost in Centennial, 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: When making an appointment, always double-check that the doctor is still in your insurance plan's network. Ask to see in-network providers when you go to the hospital or an urgent care center. Just because a facility participates in your plan doesn't mean every professional (the nurse-practitioner or radiologist, for instance) does. Also, if you need to see a doctor when you're out of town, call your insurance provider's toll-free phone number to find out the best way to get services that will be covered.
courtesy of Parents.com
courtesy of Parents.com
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| Centennial Medical Plaza 14200 E. Arapahoe Road Centennial, CO 80112 Telephone: (303) 699-3000 Plus Code: H5VG+QC Centennial, Colorado |
Company
In Centennial, 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 in Colorado 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 Centennial, Colorado, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $118.00 - $149.00.
In Centennial, Colorado, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $129.00 - $180.00.
Interesting Fact: Administrative costs currently make up a major chunk of healthcare spending in the U.S. It takes up about 25 percent of total hospital spending and accounts for hundreds of billions of dollars in healthcare spending annually, The Commonwealth Fund reported. The percentage of total hospital spending devoted to administration is highest in for-profit hospitals, followed by nonprofit hospitals, teaching hospitals and finally public hospitals.
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 Centennial,CO.
4 Important Steps to Getting Medicare Insurance Coverage in Colorado
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