How much does a Medicare Supplement Plan Cost In Charlotte, North Carolina?
How much does a Medicare supplement plan cost in Charlotte, North Carolina? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in North Carolina 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: Cheaper is almost never better: Cut-rate insurance prices can unfortunately also mean cut-rate, sketchy plan benefits. The old adage, you often get what you pay for, is true more often than not. Thoroughly review plan benefits and evidence of coverage statements before purchasing a plan. If this documentation is not readily available, call the company and request it. If you are unfamiliar with the insurance company, check independent rating companies like A.M. Best. You should expect a rating of A or better.
Novant Health Presbyterian Medical Center
200 Hawthorne Ln
Charlotte, NC 28204
Phone: (704) 384-4000
Plus Code: 656G+V6 Charlotte, 1, Charlotte, NC
Find: Map
In Charlotte, North Carolina 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 North Carolina 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 North Carolina 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 North Carolina 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 North Carolina. 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 2024
On average, in Charlotte, North Carolina, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $112.00 - $138.00.
On average, in Charlotte, North Carolina, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $117.00 - $149.00.
Good to know: When it comes to medical services, shop around for a better deals. Patients often think that medical fees are set, but just like any other business, costs for goods and services can vary widely. Shop the cost of exams, tests, procedures, medications, nursing facilities, and imaging centers before non-emergency events. The price of an MRI on one side of Main Street can be $500, and $2,500 on the other. Healthcare pricing, as a rule, is arbitrary. Even the pharmacy you choose can be the difference in hundred of dollars annually.
Other articles:
Explaining the Growth of HealthCare Sharing Plans.
Medicare Supplement vs Medicare Advantage in North Carolina
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