Are Medicare Supplemental Insurance Costs The Same Throughout The U.S.?
Medicare supplemental insurance costs vary from state to state due to differences in population and care. These are some of those variables.
Not every state was created equal when it comes to Medicare costs. Although the given would be that everyone would have to pay the same Medicare supplemental insurance costs, the reality is that different states have different costs. Because of differences in the average age and health of its population as well as different levels of access to care, the amount charged per person can vary from state to state, as well as even from region to region. This is not unlike other insurance carriers.
Why Not Every State Costs The Same
Medicare supplemental insurance costs are based on a number of factors that vary from state to state. The amount of care required by a population can make a difference, as states with an older average population, for example, are charged more as the elderly generally require more care than a younger population. Some states offer better care, such as easier access to cutting-edge technology, better pharmaceutical care, and more outpatient therapy options; however, as these cost more, Medicare must also charge more just like other insurance carriers to make up the difference. For example, in 1996, those first purchasing a BC/BS Plan F in South Dakota would $778, as opposed to $1531 for Floridians.
The common assumption about Medicare is that, because it is a plan offered through the federal government, it must charge the same for everyone, and that would apply to Medicare supplemental insurance costs as well; Medicare has been mandated to defray the cost of the program as possible, which includes looking at the local area and what health problems are there, and then charging appropriately. This ensures that the cost of medical insurance can vary from state to state, even region to region. Although it is fair, it is something to be aware of when choosing somewhere to live.