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How Much Does A Medicare Supplement Plan Cost In Utah?


How much does a Medicare supplement plan cost in Utah?  Well, that depends upon a variety of factors.  Generally, Medicare supplement plan monthly premiums tend to run slightly higher in Utah 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:  Consider online, telephone or video consultations.  Some doctors offer email consultations.  American Well is among the companies that offer video consultations with doctors ($49 for 10 minutes).  Some insurance companies and employer plans offer free telephone hotlines that can answer questions, sometimes 24 hours a day, to help you decide if you need an urgent care visit.
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
  • Gender

Plan Type
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.

Age
With very few exceptions, the older you are, the higher your monthly premium.

Interesting Fact:  Medicare and Medicaid in America account for more than 1 of every 3 dollars spent on American health care, and 1 of every 4 dollars in the federal budget.  What is astounding is the fact that the cost of Medicare is still growing.  Currently, the cost is growing at more than twice the rate of inflation.  This growth curve is expected to become even more dramatic as the baby boomers age.


University Of Utah Hospital - Medicare Supplement insurance
University Of Utah Hospital
50 N Medical Dr
Salt Lake City, UT 84112
Telephone: (801) 581-2121
Plus Code: Q5C7+Q6 Salt Lake City, Utah

Website: click here




Company
In Utah, 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 Utah 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 Utah will charge you a higher rate if you have specific medical issues.  Please contact us if you have questions concerning this.

Gender
Both Medicare supplement and Medicare advantage plan insurance companies tend to offer slightly lower premium rates for women.

Where you live in Utah
Your Medicare Supplement plan monthly premium will vary depending on where you live in Utah.  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:

  • AARP
  • Mutual of Omaha
  • Combined
  • IAC
  • Gerber
  • Blue Cross Blue Shield
  • Humana
  • Cigna
  • Aetna

On Average For 2020

On average, in Utah, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $112.00 - $126.00.
On average, in Utah, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $121.00 - $150.00.

Interesting Fact:  Administrative costs currently make up a major chunk of healthcare spending in the U.S.  It takes up about 25 percent of total hospital spending and accounts for hundreds of billions of dollars in healthcare spending annually, The Commonwealth Fund reported.  The percentage of total hospital spending devoted to administration is highest in for-profit hospitals, followed by nonprofit hospitals, teaching hospitals and finally public hospitals.


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