Medicare is a U.S. government program related to health care. It provides health coverage for people over the age of 65, and also for some younger people with disabilities.
Although this program helps cover some of the health care expenses of the elderly and sick, it does not cover all of them in the long term. It also has different plans that a person can join if they meet the conditions.
Would you like to know what plans Medicare offers in the United States? What is the average cost of Medicare insurance? We are going to solve all your doubts, so keep reading with us!
How many health insurance plans does Medicare have?
In Medicare, there are four basic plans, which can be purchased by anyone over 65 years of age or some younger people with chronic illnesses.
But, in addition to those four basic plans, Medicare has 6 more supplemental plans with different prices. Let’s start talking about the four basic plans:
– Medicare Plan A. This allows policyholders to receive hospital care.
– Medicare Plan B. Gives the possibility of receiving outpatient care.
– Medicare Plan C. It is the plan that allows the sum of Plan A and Plan B, and also the possibility of having additional plans.
– Medicare Plan D. Helps cover the cost of all drugs prescribed to a sick person.
But in addition to these four basic plans, Medicare offers the possibility of other more specific plans. Sometimes, these cover co-payments for medical care, or allow all drugs to be covered except if there are excess costs.
Among the most widely used Medicare supplement insurance plans are Plan F and Plan G. Both are the two most comprehensive of all Medicare insurance plans and even include foreign health care.
But… What is the price of these two supplemental insurances?
What is the average cost of Medicare supplemental insurance?
It is difficult to establish a fixed price for Medicare supplemental insurance. Not everyone pays the same and there are three variables that are taken into account:
– The sex of the person. Typically, the costs for men are higher than for women.
– The age of the person, it is cheaper if you take out insurance when you are younger (at age 65) than later.
– The U.S. state in which you reside. YYou do not pay the same in Texas as in California, and it depends on the government of each state and the agreements it has with Medicare.
But to give you a general idea, we are going to give you some prices for Medicare supplemental insurance:
In plan F, the most comprehensive of all, a 65-year-old woman in New York will pay $306 per month. Meanwhile, a 65-year-old woman residing in Austin will pay $120 for the same insurance.
However, if a person lives in Austin and is 75 years old, she will pay $147 for the same insurance. In New York, there will be no price increase if one woman is older than another.
On the other hand, in that same case, 65-year-old men in New York will pay $306 just like women of the same age. But in Austin, a 65-year-old man will pay $138, which is $18 more than a woman of the same age.
The most important thing is to look for accurate information on the official Medicare website. There you will be able to find out the exact price of the insurance you need, and also which of the plans suits you best according to your medical history.