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How Much Does A Medicare Supplement Plan Cost In Michigan?
How much does a Medicare supplement plan cost in Michigan? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums tend to run slightly higher in Michigan 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.
- 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 "G" is going to be somewhat higher than the monthly premium of a plan type "A". 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.
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| Detroit Receiving Hospital 4201 St Antoine St Detroit, MI 48201 Telephone: (313) 745-3000 Plus Code: 9W3W+92 Detroit, Michigan |
Company
In Michigan, 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 Michigan 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 Michigan 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 Michigan
Your Medicare Supplement plan monthly premium will vary depending on where you live in Michigan. 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
- Mutual of Omaha
- Combined
- IAC
- Gerber
- TransAmerica
- United of Omaha
- Humana
- Cigna
On Average For 2024
On average, in Michigan, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $124.00 - $153.00.
On average, in Michigan, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $139.00 - $176.00.
Good to know: When selecting a health plan for you or your family, don't just choose the one with the lowest monthly premium or the one you had before. Plan benefits can change from year to year - in some cases, significantly. Your individual or family needs can also change. For example, the addition of a new prescription drug utilized by a family member, can significantly alter the cost / benefit ratio of any health insurance, or healthcare sharing plan. Jot down your family's average number of doctor visits per year, routine prescriptions, dental cleanings, and other services. Compare what you'd pay over an entire year for these items on each plan option that is available to you. And don't forget to factor in monthly premiums and deductibles.
To get an exact rate, click the "Get An Instant Quote Now" at the top of the page!
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