How much does a Medicare Supplement Plan Cost In Lubbock, Texas?
How much does a Medicare supplement plan cost in Lubbock, Texas? Well, that depends upon a variety of factors. Generally, Medicare supplement plan monthly
premiums run slightly higher in Texas than they do in other surrounding 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
- Region
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: Each insurance provider has a formulary or list of medicines covered by the plan. If a medicine is not on the formulary it may not be covered and you may have to endure a potential nightmare attempting to find an alternative medication. The list of covered medicines is also often divided into tiers, which determines how much of a copay or coinsurance you may have to pay. Make a list of your current medicines and compare it to the plan's formulary to make sure your medicines are covered and you understand the out-of-pocket costs that may be associated with them.
 |
| University Medical Center 602 Indiana Ave Lubbock, TX 79415 Telephone: (806) 775-8200 Plus Code: H4Q5+5G Lubbock, Texas |
Company
In Lubbock, Texas 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 Texas 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 Texas will charge you a higher rate if you have specific medical issues. Please contact us if you have questions concerning this.
Gender
Medicare supplement insurance plan rates in Texas are affected by gender. The monthly premium rates tend to be slightly lower for women than they are for men.
Region
The cost of your Medicare supplement plan can vary moderately dependent on where you live within the state. There are a multitude of factors that impact this variance of pricing within Texas. Such factors include: The regional costs of physician and hospital services, Fee schedule negotiated by the insurance companies for services. Fee schedule negotiated by the insurance companies for prescription drug pricing.
On Average For 2024
On average, in Lubbock, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, female applicant would be: $102.00 - $203.00.
On average, in Lubbock, for a standard plan A, the average monthly premium for a 65 year old non-tobacco, male applicant would be: $116.00 - $214.00.
Good to know: Stick with in-network providers. "The lowest charges are for doctors and hospitals who participate in your insurance network," says Adria Goldman Gross of MedWise Insurance Advocacy in Monroe, New York. "Check to make sure that the doctors who are treating your children are on your insurance plan. It's also best to be confident that the doctors are affiliated with hospitals that are covered on your insurance policy."
Other articles:
Explaining the Growth of HealthCare Sharing Plans.
Resources
Request a Call Back
We are pleased to assist and will respond promptly.