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
- Tobacco Use
- Health Status
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.
With very few exceptions, the older you are, the higher your monthly premium.
Good to know: Ask whether tests, prescriptions or procedures are really necessary. The latest drugs aren't always better than older, cheaper drugs - just more expensive. If you tell the doctor you're paying cash, he/she may suggest you wait to see if the condition resolves before ordering an expensive test. Instead of paying for 20 sessions of physical therapy, pay for one and learn exercises to do at home.
|Saint Agnes Hospital
900 S Caton Ave
Baltimore, MD 21229
Telephone: (667) 234-6000
Plus Code: 78CG+RR Baltimore, Maryland
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.
Most insurance companies in Maryland 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 Maryland will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
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:
On Average For 2020
- Blue Cross Blue Shield
- Mutual of Omaha
- United of Omaha
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: Running to the emergency room every time you need after-hours care is a good way to thow away a lot of money. The ER should be for, you know, emergencies. Consider more affordable options like urgent care clinics or even telemedicine. You may want to research a bit beforehand. Prices can vary between similar facilities. For example, choosing a stand-alone radiology and surgery center, could save you thousands. Your physician may also work at multiple hospitals or surgery centers, so ask for their assistance in locking down the best price.
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