Unlike Original Medicare (Parts A and B), the price of Medicare Advantage plans varies depending on where you live. Thus, the average cost of Medicare Advantage is different in each state. Check the chart below for the average monthly premium and prescription drug deductible of Advantage plans in your state.
What is the Average Cost of Medicare Advantage Plans?
Private insurance companies offer Medicare Advantage plans. Plan availability depends on your county of residence and the carriers determine the costs for the plans. There are even some plans that partially or fully pay your Part B premium.
To enroll in an Advantage plan, you must first sign up for Original Medicare (Part A and Part B). Advantage plans are also known as Part C and are commonly called replacement plans because they stand in for Original Medicare. With an Advantage plan, you’ll still be responsible for applicable premiums for Parts A and B. Thus, an Advantage plan with a zero-dollar premium doesn’t mean your Medicare is free.
When choosing an Advantage plan, there are multiple considerations you must make. When it comes to price, you’ll want to take into account the monthly premium as well as the deductible you must reach for prescription drug coverage. However, not all Advantage plans include prescription drug coverage. Though, if yours does, you must meet the deductible for the coverage to kick in. So, for an affordable plan, look beyond the price of the premium and see if the deductible is also reasonable.
The average monthly premium for Advantage plans ranges from $13 to $78 across the 49 states where they are available. Prescription drug deductibles for Advantage plans range from $32 to $358. As you can see, there is a fairly broad range for each. Additionally, Advantage plans are not available in Alaska.
Average Cost of Medicare Advantage Plans in Each State
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How to Find the Best Deal on a Medicare Advantage Plan Near You
Now that you're more familiar with the average cost of Medicare Advantage plans across the country, you have a better idea of what to expect when choosing one. We understand that Medicare can be complicated so we're here to help you make the right choice for your coverage.
You don't need a local agent to find the best Medicare Advantage plan for you! Our agents are licensed in every state and are ready to help you compare your local options. Just call the number above to get started now or complete our online rate form.