How Much Does A Medicare Supplement Plan Cost In Georgia?
How much does a Medicare supplement plan cost in Georgia? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly lower in Georgia 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 Georgia
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.
With very few exceptions, the older you are, the higher your monthly premium.
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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In Georgia, 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 Georgia 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 Georgia 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 Georgia
Your Medicare Supplement plan monthly premium will vary depending on where you live in Georgia. 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:
On Average For 2020
- Blue Cross Blue Shield
- Mutual of Omaha
- United of Omaha
- Sentinel Life
On average, in Georgia, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female
applicant would be: $109.00 - $139.00
On average, in Georgia, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male
applicant would be: $127.00 - $169.00
Good to know:
Be up front about finances. Are you short on cash? Do you have a high insurance deductible? Don't be embarrassed to tell your doctor or dentist. He may be able to suggest less costly treatment options or even agree to lower fees. "Try to negotiate the fee you pay before or at the time you make your appointment and/or offer to pay cash," suggests Ruth Linden of Tree of Life Health Advocates. "Some physicians will agree to accept a reduced rate, if you inform them you are experiencing difficult financial circumstances." In fact, a Wall Street Journal/Harris Interactive poll found that three out of five people who negotiated with their doctors received discounts.
courtesy of Parents.com
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