How much does a Medicare Supplement Plan Cost In Lubbock, Texas?
How much does a Medicare supplement plan cost in Lubbock, Texas? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in Texas 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: Talk to an independent agent. An independent insurance agent is an essential resource when purchasing insurance. An independent agent works with multiple different carriers, which is different from captive agents who can only sell insurance from the carrier they work for. Working with an independent agent can help make sure that you are getting the best coverage, for the best price.
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| University Medical Center 602 Indiana Ave Lubbock, TX 79415 Telephone: (806) 775-8200 Plus Code: H4Q5+5G Lubbock, Texas |
Company
In Lubbock, Texas 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 Texas 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 Texas 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 Texas 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 Texas. 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 Lubbock, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $102.00 - $203.00.
On average, in Lubbock, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $116.00 - $214.00.
Good to know: If you just can't find a plan that is both within your price range and contains the health benefits you need, an alternative health plan might be what you need. If individual plans are too expensive, offer too much, or offer too little - don't think you have nowhere to go. There are low-cost health insurance alternatives, like short term health insurance and health care sharing plans.
Each plan has its own terms and limitations, so be sure to check the official plan documents to understand how each plan works.
Each plan has its own terms and limitations, so be sure to check the official plan documents to understand how each plan works.
Other articles:
Explaining the Growth of HealthCare Sharing Plans.
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