How Much Does A Medicare Supplement Plan Cost In Oklahoma?
How much does a Medicare supplement plan cost in Oklahoma? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums tend to run slightly lower in Oklahoma than they do in other nearby 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.
Good to know:
Many plans don't provide drug benefits, or discounts, even on generics, until you reach your deductible, which is often in the thousands of dollars. Instead of just accepting your insurance plan's lousy prescription drug benefit, try using websites such as Blinkhealth.com
to shop around for the best price for your medication in your area.
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"
will likely be consistently higher than the monthly premium of a plan type "K"
- no matter which
insurance carrier you decide upon.
This is because each Medicare supplement plan type designates a unique plan 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.
Interesting Fact: As of 2018, the most expensive drug in America is Horizon Pharma's Actimmune, which treats a rare genetic disorder called chronic granulomatous disease as well as a rare bone-hardening condition called malignant osteoporosis. Actimmune costs $52,321.80 per month, or a stunning $671,861.60 per year, according to CBS News.
|Mercy Hospital Oklahoma City
4300 W Memorial Rd
Oklahoma City, OK 73120
Telephone: (405) 755-1515
Plus Code: JC42+V3 Northwest Oklahoma City, Oklahoma City, OK
In Oklahoma, 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 Oklahoma 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 Oklahoma 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 Oklahoma
Your Medicare Supplement plan monthly premium will vary depending on where you live in Oklahoma. 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
- Mutual of Omaha
- Blue Cross Blue Shield
On average, in Oklahoma, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female
applicant would be: $109.00 - $121.00
On average, in Oklahoma, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male
applicant would be: $115.00 - $148.00
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.
To get an exact rate, click the "Get An Instant Quote Now
" at the top of the page!
What Are Medicare Advantage Plans?