Colorado is a beautiful state to live in, and Medicare beneficiaries agree as well. There are 530,678 Colorado residents on at least one part of Medicare. Today, we’re going to talk about some Medicare figures and costs in the state.

Following that, we’ll overview the basics of Medicare followed by supplemental Medicare plans. Finally, we’ll cover some state Medicare resources and FAQs.

Medicare in Colorado: Facts & Figures

  • Medicare beneficiaries enrolled in at least one part of Medicare
    • 530,678 total
    • 464,569 aged 65 and older
    • 66,109 under 65
  • Medicare beneficiaries enrolled in Both Medicare Parts A and B
    • 444,000 total
    • 386,970 aged 65 and older
    • 57,030 under 65
  • Medicare beneficiaries enrolled in Medicare Part A
    • 522,658 total
    • 456,554 aged 65 and older
    • 66,104 under 65
  • Medicare beneficiaries enrolled in Medicare Part B
    • 452,020 total
    • 394,985 aged 65 and older
    • 57,035 under 65

Medicare Costs in Colorado for 2022

Medicare is health insurance for Americans 65 and older, or under 65 with certain health conditions. Most Americans will receive Medicare Part A with a zero-dollar premium. 2020 Medicare Part A costs include a hospital deductible of $1,556 and a per day copay of $389 per day for days 61-90.

Medicare Part B will have a monthly premium for most people. Medicare Part B costs also include a $233 annual deductible and then you’re responsible for 20% of the cost of services. Original Medicare costs are the same regardless of where you live.

Medicare Part A Costs in 2022 Medicare Part B Costs in 2022
  • Part A is premium-free for most
  • Part A deductible is $1,556 per benefit period
  • Inpatient hospital stay days 61-90 is $389
  • The standard Part B premium is $170.10
  • The annual deductible for Part B is $233
  • Medicare pays 80%, you pay 20% out-of-pocket

Original Medicare Coverage

Medicare Part A and Part B are usually referred to as Original Medicare. Part A covers your hospital inpatient, hospice, and skilled nursing services. Medicare Part B covers physician visits, durable medical equipment, lab services, drugs administered in the doctor’s office, and outpatient services.

Medicare Part A (Hospital Coverage)

  • Inpatient care in hospitals
  • Skilled nursing facility care
  • Hospice care
  • Home health care
Medicare Part B (Medical Insurance)

  • Services from doctors and health providers
  • Outpatient care
  • Home health care
  • Durable medical equipment
  • Some preventive services

Supplemental Medicare Plans in Colorado

There are a few options you have when considering supplemental coverage for your Medicare. Unlike Original Medicare, the costs and coverage benefits can vary depending on where you live.

Original Medicare doesn’t cover prescription drugs, so to offset this you have 2 choices. You can enroll in a stand-alone drug plan, Medicare Part D. Or you can elect to enroll in Medicare Part C.

All coverage for prescription drugs is required to follow four coverage phases. The deductible, initial, coverage gap, and the catastrophic phases.

As you move through the year the drug costs will move you through the tiers. In addition, all plans organize drugs into drug tiers to determine your costs.

Medicare Part D is coverage for drugs you pick up from the pharmacy. They are insurance plans offered by private companies that follow the Medicare standard. The average cost for a Part D plan is around $30 dollars.

Medicare Part C is another way to receive your Medicare benefits. These plans essentially pay instead of the Original Medicare.

This means instead of paying the Medicare cost-share, you’ll pay the plan’s cost-share. These plans usually include drug coverage and benefits above and beyond what Medicare covers.

Medicare Supplement plans are insurance policies that fill in the gaps of Original Medicare. Since they supplement Medicare and pay some or all of your cost share, you still maintain the benefits of Original Medicare.

Benefits such as no need for referrals or networks. Medicare Supplements are standardized meaning the coverage is the same no matter where you live. However, the costs could vary.

Colorado Medicare Resources

There are a variety of resources available to Medicare beneficiaries. Below we’ll list some of the options available to Medicare beneficiaries in Colorado.

If you’re enrolling in a Medicare Supplement plan we are your go-to one-stop-shop. We can assist you with anything regarding Medigap plans.

Colorado Cities with Estimated Premiums for Medigap Coverage

All cities in Colorado come with their own premiums for Supplemental Medicare coverage. Here are some of the biggest areas in the state:

FAQs

Is Medicare free in Colorado?

Generally, Medicare Part A doesn’t have a premium because you have paid into it as your Medicare tax. Medicare Part B will have a premium for most beneficiaries.

How Much Does Medicare Supplement Plan G Cost in Colorado?

Medigap Plan G can be as low as $112 but can be as high as $400. Your age, health, and where you’re located can affect the rate.

What’s the most expensive Medigap Plan in Colorado?

Plan F is typically the most expensive Medicare Supplement option. It’s also the most comprehensive option because it covers all your Medicare cost-share.

How to Sign Up for Supplemental Medicare in Colorado

With all the options available, Supplemental can be a confusing product to shop for. Fortunately, we’re here to help. We have licensed agents that not only specialize in Medicare but are experts in the market.

Our goal is to make it easy for you. We’ll educate you on your options and assist you in enrolling in the Medicare option you choose. Give us a call or fill out our online request form.

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by Lindsay Malzone, Lindsay Malzone is the Medicare expert for Medigap.com. She's been contributing to many well-known publications as an industry expert since 2017. Her passion is educating Medicare beneficiaries on all their supplemental Medicare options so they can make an informed decision on their healthcare coverage.