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How Much Does A Medicare Supplement Plan Cost In Maryland?


How much does a Medicare supplement plan cost in Maryland?  Well, that depends upon a variety of factors.  Generally, Medicare supplement plan monthly premiums run slightly higher in Maryland 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
  • Age
  • Company
  • Tobacco Use
  • Health Status
  • Region
  • Gender

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 plan type "K".  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:  Get your prescriptions via mail order.  For medications you use long-term, you'll reduce hassle and cost if you order pills on a subscription service through your insurer.  "Utilizing 90-day supplies and mail order can decrease dispensing fees," says Diana Graalum, clinical pharmacy manager at MedSavvy


Saint Agnes Hospital - Medicare supplement and advantage plans
Saint Agnes Hospital
900 S Caton Ave
Baltimore, MD 21229
Telephone: (667) 234-6000
Plus Code: 78CG+RR Baltimore, Maryland




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

Gender
Both Medicare supplement and Medicare advantage plan insurance companies tend to offer slightly lower premium rates for women.

Where you live in Maryland
Your Medicare Supplement plan monthly premium will vary depending on where you live in Maryland.  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:

  • AARP
  • Blue Cross Blue Shield
  • Mutual of Omaha
  • Combined
  • IAC
  • Gerber
  • TransAmerica
  • United of Omaha
  • Humana
  • Cigna

On Average For 2020

On average, in Maryland, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $121.00 - $148.00.
On average, in Maryland, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $136.00 - $170.00.

Good to know:  Know the difference between in-network and out-of-network providers.  When you purchase a healthcare coverage plan, normally, some providers are in-network and others are out-of-network.  The difference between in-network providers and out-of-network providers is a source of confusion for most Americans.  More than one-third of survey respondents incorrectly thought visiting an in-network doctor would increase their medical bills, and around one-quarter thought going to an in-network provider would make no difference in cost.  The reality is, visiting an out-of-network doctor or utilizing an out-of-network facility will almost certainly end up costing you more - in most cases, a lot more.  Give us a ring if you have questions about this.


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