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How Much Does A Medicare Supplement Plan Cost In Virginia?


How much does a Medicare supplement plan cost in Virginia?  Well, that depends upon a variety of factors.  Generally, Medicare supplement plan monthly premiums tend to run slightly lower in Virginia 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:  Keep an eye out for health plan discounts for using fitness technology like Fitness Trackers.  As technology makes data about the state of our health easily available, many insurers are starting to look at using tools like fitness trackers to minimize risk.  Some insurance providers currently offer discounts or incentive plans that will save you money, or provide financial rewards.
Ask a broker about plans that give discounts using new fitness technologies, or plans with health incentives.  One example is "UnitedHealthcare Motion" which offers financial reimbursement incentives of up $1,500 per year.  These types of plans provide good opportunities for savings.  Also, make sure to inquire about the possibilities every year, since these types of programs will become more common over time.
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:  In studies, the artificial intelligence (AI) technology used in some online health services for preliminary screening before connecting patients with a doctor actually outperformed real physicians in terms of reaching an accurate diagnosis, CNN reported.  AI technology correctly diagnosed conditions in 81 percent of patients, compared to a 72 percent average for accurate diagnoses among real physicians over a five-year period.


Sentara Virginia Beach General Hospital - Medicare Supplement insurance
Sentara Virginia Beach General Hospital
1060 First Colonial Road
Virginia Beach, VA 23454
Telephone: (757) 395-8000
Plus Code: VX7F+R8 Virginia Beach, Virginia




Company
In Virginia, 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 Virginia 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 Virginia 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 Virginia
Your Medicare Supplement plan monthly premium will vary depending on where you live in Virginia.  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
  • Sentinel
  • Blue Cross Blue Shield
  • Humana
  • Cigna
  • Aetna

On Average For 2024

On average, in Virginia, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $117.00 - $130.00.
On average, in Virginia, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $125.00 - $152.00.

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.



To get an exact rate, click "Get Covered Now" at the top of the page!

Other articles:
What Are Medicare Advantage Plans?
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