How much does a Medicare Supplement Plan Cost In Cincinnati, Ohio?
How much does a Medicare supplement plan cost in Cincinnati, Ohio? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in Ohio 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:
- 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 "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: Understand your budget. The average consumer spends around 5% of their annual income on health insurance premiums. Keep in mind, this doesn't take into account other expenses, such as deductibles or out of pocket costs. If the health care plan you are considering is priced significantly higher than 5% of your income, unless you're expecting an income increase in the very near future, you should consider choosing another plan.
|University of Cincinnati Medical Center
234 Goodman St
Cincinnati, OH 45219
Telephone: (513) 584-1000
Plus Code: 4FQW+4M Cincinnati, Ohio
In Cincinnati, 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 Ohio 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 Ohio will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
Medicare supplement insurance plan rates in Ohio are affected by gender. The monthly premium rates tend to be slightly lower for women than they are for men.
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 Ohio. 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 2019
On average, in Cincinnati, Ohio, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female
applicant would be: $127.00 - $188.00
On average, in Cincinnati, Ohio, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male
applicant would be: $134.00 - $200.00
Good to know: If there is a deadline associated with your health insurance purchase, be sure you know exactly when it is. Make specific note of the timeline for enrollment, and give yourself plenty of time to research your plan choices before the deadline arrives. Let's face it. It's easy to put off a purchase such as health insurance - largely because there is no immediate impact if you delay. So, commit to finishing the task early. You don't want to be scrambling for answers at the last minute.
Short Term Health Insurance In Cincinnati Ohio