How Much Does A Medicare Supplement Plan Cost In Texas?
How much does a Medicare supplement plan cost in Texas? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums tend to run slightly higher in Texas 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:
Pay less for prescriptions. Go generic, for starters. In almost every case, generics are just as good as name brands and are much cheaper, says Catherine Tom-Revzon, a pharmacist at The Children's Hospital at Montefiore, in New York City. Second, compare costs since prices vary significantly from store to store. Your best bet may be a warehouse club like Costco or Sam's Club. (You don't even need to be a member.) Another option: If your plan has a mail order pharmacy, you might be able to get 90 days' worth of prescriptions mailed to you for two co-pays.
courtesy of Parents.com
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: Paying for health care is the number 1 cause of bankruptcy filing every year in the U.S. Almost 2 million people need to file bankruptcy because they cannot pay their medical bills each year, and outside of bankruptcy, over 20 percent of the population (about 56 million adults) between the ages of 19 and 64 struggle with health-care related bills each year.
|St. Joseph Medical Center
1401 St Joseph Pkwy
Houston, TX 77002
Telephone: (713) 757-1000
Plus Code: PJXM+4J Downtown, Houston, TX
In 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.
Most insurance companies in Texas 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 Texas 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 Texas
Your Medicare Supplement plan monthly premium will vary depending on where you live in Texas. 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
- United of Omaha
On average, in Texas, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female
applicant would be: $117.00 - $134.00
On average, in Texas, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male
applicant would be: $126.00 - $157.00
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!
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