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How Much Does A Medicare Supplement Plan Cost In Illinois?
How much does a Medicare supplement plan cost in Illinois? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in Illinois than they do in most other 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.
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
- Where you live in Illinois
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: Before purchasing a health plan, ask questions. Call the member services department of the health plan you're considering and ask: Which doctors, hospitals, clinics or pharmacies participate in the plan? How much does it cost to go out of network? Am I covered during a travel emergency? What is the premium and out-of-pocket costs? What is the most I'll have to pay out of my own pocket to cover expenses? Exactly what benefits are covered by the plan and what isn't covered? How are disputes about a bill or service handled? Then verify the information you were given by comparing it to the plan's benefit details.
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| Northwestern Memorial Hospital 251 E Huron St Chicago, IL 60611 Telephone: (312) 926-2000 Plus Code: V9VH+VF Chicago, Illinois Website: click here |
Company
In Illinois, 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 Illinois 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 Illinois will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
Where you live in Illinois
Your Medicare Supplement plan monthly premium will vary depending on where you live in Illinois. 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
- Blue Cross Blue Shield
- Kaiser
- Mutual of Omaha
- United of Omaha
- Humana
- Cigna
- IAC
- Combined
- Gerber
- Sentinel Life
On Average For 2024
On average, in Illinois, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $120.00 - $159.00.
On average, in Illinois, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $137.00 - $178.00.
Good to know: You shouldn't promptly pay medical bills. Yes, you read that right. The reason is, healthcare providers tend to send bills well before the insurance company has decided what part of the claim they are obligated to pay. The average person sees a bill and thinks they are obligated to pay it. This couldn't be further from the truth. Health care companies routinely shoots out bills to everyone one involved - regardless of who is actually responsible for paying it. You need to know what the insurer is going to pay before you do anything. Our advice? Don't pay a dime until you get an EOB (Explanation of Benefits) from your insurer that explains your claim and how much they are paying.
To get an exact rate, click the "Get An Instant Quote Now" at the top of the page!
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