How much does a Medicare Supplement Plan Cost In St Petersburg, Florida?
How much does a Medicare supplement plan cost in St Petersburg, Florida? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in Florida than they do in most other 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
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: Plans that pay higher portion of your medical costs, but have a higher premium, are good if: you have pre-existing conditions, take expensive meds on a regular basis, are planning to have child, are expecting to undergo surgery, or have a chronic condition. If you're in good health and only go to the doctor for routine checkups, consider a plan with a lower monthly premium and higher out-of-pocket costs.
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| St. Petersburg General Hospital 6500 38th Ave N St.Petersburg, FL 33710 Telephone: (727) 384-1414 Plus Code: R74F+4C St. Petersburg, Florida |
Company
In St Petersburg, Florida 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 Florida 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 Florida will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
On Average For 2024
On average, in St Petersburg, Florida, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $142 - $182.
On average, in St Petersburg, Florida, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $154 - $198.
Good to know: Do the math. When shopping for health insurance, most people focus on the monthly premiums, but you also need to take a close look at deductibles. For example, if you have a choice between a lower silver plan premium of $345 a month for a plan with a $5,500 deductible, and a higher gold plan premium at $465 a month with a $1,750 deductible, you may be better off with the second plan if you anticipate needing more than $1,500 in medical care. With the second plan, your total annual cost for the premium and deductible comes to $7,330, a $2,310 savings over the lower premium plan.
Other articles:
Is Short-Term Health Insurance Right For You?
5 Important Steps For Getting Health Insurance In Florida.
The First 3 Steps in Acquiring Medicare Supplement Insurance Coverage in Florida
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