Medicare Supplement Insurance in Cincinnati, Ohio

Medicare Part A and Medicare Part B have a consistent issue with extensive coverage gaps. So what happens to those who develop conditions in those gaps? They end up paying out of their own pockets, and the costs can be expensive. When considering any senior with chronic conditions, it isn’t just a little dip into the savings account; these insurance gaps can deprive people of what they have worked for over fifty or more years. And as a citizen of Ohio, you have a different set of things to consider when picking the most accommodating policy.

Senior Medicare in Cincinnati: Facts and Figures

  • There are 36,009 senior citizens living in Cincinnati right now
  • There 10 hospitals in the Cincinnati area where seniors can get emergency and/or in-patient care 
  • 35% of Ohio seniors have a Medicare Advantage plan 
  • 19% of seniors have a Medicare Supplement (Medigap) plan
  • Which leaves 46% of seniors potentially uninsured or underinsured against costly Medicare coverage gaps!

When the human body reaches maturity and past, changes continue in our physiological makeup. Some things just begin to break down after so many years, no matter how good of a condition their owner tries to keep them in. Those types of sicknesses are the sort which never quite get better because there is no ‘cure’, only continuing treatment and management. People with those illnesses can still live perfectly full, happy lives, but the cost of managing a prolonged disease is not an inexpensive one, especially if there is more than one illness at once. Below are the most frequent chronic diseases in Cincinnati.

Disease Prevalence (in Cincinnati)
Arthritis 27%
High Blood Pressure 35%
Coronary Heart Disease 7%
Diabetes 13%
Kidney Disease 3%

Healthcare Costs in Cincinnati, OH

On top of so many affected seniors, there are the prices of associated care to consider. Medical drugs, various pieces of equipment, hospital stays, in-home care, and regular visits are all factors which stack up over time, leading to a huge bill. The expense of medical care is on the rise every year, and it doesn’t seem to be slowing any time soon. With seniors living longer lives, this can mean even bigger bills, and more of them. There is no time to wait. You have to know if your coverage is enough in order to protect the things you have spent a lifetime working to get.

Disease Prevalence (in Cincinnati) Annual Cost of Treatment
Arthritis 27% $292
High Blood Pressure 35% $354
Coronary Heart Disease 7% $7,401
Diabetes 13% $2,165
Kidney Disease 3% $6,626

Medicare Advantage Savings in Cincinnati, OH

While Medicare Advantage is not government-issued, it is government-approved. Technically, Medicare Advantage is a separate, private insurance plan, but with very unique benefits. Insurance costs aren’t paid for by the government, but instead they redirect your intended costs to Medicare Advantage, and any remainder becomes the patient premium. This cost can be, in many cases, as low as $0 a month. Medicare Advantage must cover at least the same as Medicare Parts A & B, but many outside insurers offer add-on benefits in exchange for more premiums.

Seniors who enroll in Medicare Advantage feel that they have better coverage, particularly for chronic illnesses. Common ailments for seniors – like arthritis, diabetes, and high blood pressure – are difficult to manage at best. They can necessitate medications, testing supplies, more visits to the doctor, and a plethora of additional unforeseeable costs. As these conditions gradually get worse, the cost continues to go up. Some Medicare Advantage plans can offer much more thorough coverage than Medicare alone, even with a Part D drug plan. Even with insurance plans and supplements, it isn’t a bad idea to save now,  to be better prepared for later.

With Medicare Advantage plans, you can receive much more inclusive benefits than traditional Medicare Parts A & B. They include visits to the doctor, necessary equipment, and potentially a valuable money-saving drug plan. A good portion of plans also include the option to add dental coverage or vision coverage to the policy. Because the government pays their portion of the monthly premium, the cost to seniors is drastically reduced, and in some cases can even be as low as $0 per month! Copays and coinsurance will still need to come from out-of-pocket, and there may be other items that are not covered by your insurance policy, no matter how broad it is.

Medicare Supplement (Medigap) Savings in Cincinnati, OH

Additional Medicare gap coverage policies are Medicare Supplement Insurance policies, or Medigap policies. They work a bit differently than Medicare Advantage plans, but can still save a good amount of money, particularly with gaps in Medicare Part A. Severe chronic conditions can cost five digits and up for a single treatment or incident. At a given point, Medicare stops their coverage, and the patient is responsible for the rest. These bills can be huge, and make an already difficult diagnosis and treatment that much harder.

Right now, there are four plans intended to cover Medicare Part A gaps. Plans A, D, K, and L are all intended for covering the potential gaps in Traditional Medicare. Additional plans do account for Part A, but with Part B as well. Those will be discussed below the chart. However, if you don’t need coverage for Part B, then it would be wise to consider a plan without it, as it will save in premium costs.

Medigap plans B, C, D, F, G, M, and N, cover gaps in Medicare Part A as well as select aspects of gaps in Medicare Part B. The more in-depth coverage your plan offers, the higher your monthly premium will be. However, this also means fewer out-of-pocket expenses and unexpected financial hits. Take note, Plan F is retiring soon, and will not be available for enrollment after the year 2020.

Medicare part B plans are supposed to take care of aspects that Part A does not, namely outpatient procedures, general practitioner and specialist visits, and some select pieces of medical equipment. Co-pays, coinsurance, and premiums for original Medicare part B can be difficult, however. There are many options to reduce this cost and help from the expenses getting overwhelming.

Medicare supplement insurance does not provide for Rx drugs, dental, or vision, unlike Medicare Advantage. However, Original Medicare does allow seniors to choose a Part D plan, which provides for prescription drugs and the associated costs. This is offered whether or not you choose a Medicare supplement insurance plan. With a little research, it is easy to find affordable dental and vision plans for seniors in your area. Discounts for the elderly are especially available in most locations.

For seniors living in Cincinnati, just like you, purchasing the most affordable Medicare Supplement Insurance is absolutely necessary. Not only does it protect any retirement savings, it also grants peace of mind. Sad as it is, medical costs are continually on the rise, and they do not show signs of decreasing any time soon. It’s beyond your control, but one thing that is in your hands is how well you cover yourself with a comprehensive insurance plan. We want to help you find that supplemental Medicare gap coverage plan today.

Medigap Plan Minimum Monthly Premium Maximum Monthly Premium Average Estimated Monthly Premium (Part B Premium Included)
Plan A $71 $196 $269
Plan B $104 $223 $299
Plan C $123 $253 $324
Plan D $96 $181 $274
Plan F $124 $222 $309
Plan F (high deductible) $28 $69 $184
Plan G $97 $169 $269
Plan K $45 $91 $204
Plan L $81 $128 $240
Plan M $97 $142 $255
Plan N $84 $172 $264

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