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How much does a Medicare Supplement Plan Cost In Indianapolis, IN?


How much does a Medicare supplement plan cost in Indianapolis, IN?  Well, that depends upon a variety of factors.  Generally, Medicare supplement plan monthly premiums run slightly lower in Indiana than they do in other surrounding states.  But there are other factors that have a far greater impact on 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
  • Region

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.

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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IU Health University Hospital
550 N University Blvd
Indianapolis, IN 46202
Telephone: (317) 944-5000
Plus Code: QRGF+58 Indianapolis, Indiana




Company
In Indianapolis, Indiana 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 Indiana 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 Indiana will charge you a higher rate if you have specific medical issues.  Please contact us if you have questions concerning this.

Gender
Medicare supplement insurance plan rates in Indiana are affected by gender.  The monthly premium rates tend to be slightly lower for women than they are for men.

Region
The cost of your Medicare supplement plan can vary moderately dependent on where you live within the state.  There are a multitude of factors that impact this variance of pricing within Indiana.  Such factors include:  The regional costs of physician and hospital services, Fee schedule negotiated by the insurance companies for services.  Fee schedule negotiated by the insurance companies for prescription drug pricing.

On Average For 2020

On average, in Indianapolis, Indiana, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $111.00 - $207.00.
On average, in Indianapolis, Indiana, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $120.00 - $220.00.

Good to know:  Take advantage of free screenings.  Every community has health fairs that offer free screenings for diabetes, HIV, high blood pressure and other maladies.  By law, ACA-compliant insurance plans offer a number of screenings with no copays.  These screenings can save you hundreds of dollars.


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Faith-Based Health Insurance (Healthcare Sharing Plans) In Indianapolis
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