Will Moving Increase My Medicare Premiums?
Summary: Some Medicare premiums are the same anywhere in the country. Premiums for other types of Medicare coverage may be different depending on:
- Where you move
- What type of Medicare coverage you have
- Which Medicare-approved health insurance company offers the plan
Original Medicare premiums
Original Medicare includes Part A (hospital insurance) and Part B (medical insurance). Many people are automatically enrolled in Original Medicare when they become eligible. Your Original Medicare premiums work like this:
Medicare Part A premium: Typically, you don’t pay a premium for Part A if you or your spouse worked and paid Medicare taxes for at least 10 years or 40 quarters.
If you paid these taxes for less than 30 quarters, your monthly premium for Part A is $458 in 2020. If you paid Medicare taxes for 30-39 quarters, your monthly premium is $252 in 2020. These rates are the same across the country.
Medicare Part B premium
The Medicare premium for Part B varies based on your income level, rather than your location. The standard monthly premium is $144.60 in 2020. Your Part B premium may be more if your income is above a certain level. As with Part A, the Part B premium doesn’t change across the states. That means you will pay the same premium if you live in New York, Missouri, or Oregon, for example.
Medicare Part C premium
Medicare Part C, also known as Medicare Advantage, is an alternative way to receive your Original Medicare coverage. Private, Medicare-approved health insurance companies offer Medicare Advantage plans. Premiums and other out-of-pocket costs can vary from plan to plan. Some Medicare Advantage plans have premiums as low as $0, but you still need to pay your Medicare Part B premium along with any premium the plan may charge.
Medicare premiums for these plans can also fluctuate between states, depending on the specific plans offered in each state. Since these plans typically have a limited service area, you can also lose your coverage if you move.
If you move out of your Medicare Advantage plan’s service area, you might qualify for a Special Election Period to enroll in a plan in your new vicinity. eHealth’s licensed insurance agents can tell you how to go about making the change.
You can start comparing plans right away by entering your new zip code on this page and clicking Medicare Advantage plans.
Prescription drug coverage costs
Medicare Part D covers prescription drugs, which Original Medicare covers only in certain situations. Medicare premiums for these plans vary from plan to plan and can also change by location. Deductibles, coinsurance, and copayments for these plans can differ as well. You may want to compare all plan costs when you’re looking for a Medicare prescription drug plan in your new location.
How do you go about that? An easy, fast way is to type your new zip code in the box on this page, click Medicare Part D Plans, and start comparing plans. You can enter your prescription drugs to get an idea of what they’ll cost under various plans.
Coverage portability: Medicare Supplement insurance plans
Medicare Supplement insurance plans are designed to minimize out-of-pocket costs you might pay under Original Medicare. These plans might cover Medicare Part A and Part B coinsurance, copayments, and more. Medicare Supplement insurance plan premiums might depend on a few factors, including:
- The plan type you choose
- The state where the plan is sold
- The private insurance company that offers the plan
- The plan rating, which may be determined in part by your age
Each plan type offers a different set of basic benefits.
In most cases, Medicare Supplement insurance plans let you visit any doctor who takes Medicare. That means if you’re visiting another state, your plan will likely help pay for Medicare-covered services.
If you move to another state, you might be able to buy the same plan type (for example, Medicare Supplement insurance Plan G) in the new state. However, your Medicare plan premium might be different.
If you move to another state, your original Medicare premiums and benefits will remain consistent no matter where you live. Your Medicare Advantage, Medicare Part D plans will likely change to accommodate your new area. The Medicare premiums for these plans may also vary. You will want to shop around to find the best plan and the best rate to accommodate your specific needs and budget.
If you are heading to a new location and wish to compare Medicare plan options for your new area, our online plan comparison tool can help. Enter your zip code and follow the steps to find the right plan for you.