10.
Georgia
Average
monthly premium: $26.14
Average
annual drug deductible: $179.56
Average
in-network MOOP: $6,404
Average
annualized premiums + in-network MOOP: $6,718
9. New Hampshire
Average
monthly premium: $43.83
Average
annual drug deductible: $196.30
Average
in-network MOOP: $6,194
Average
annualized premiums + in-network MOOP: $6,720
8. South
Carolina
Average
monthly premium: $22.20
Average
annual drug deductible: $160.43
Average
in-network MOOP: $6,501
Average
annualized premiums + in-network MOOP: $6,767
7. Idaho
Average
monthly premium: $60.44
Average
annual drug deductible: $126.14
Average
in-network MOOP: $6,101
Average
annualized premiums + in-network MOOP: $6,827
6. New Jersey
Average
monthly premium: $36.76
Average
annual drug deductible: $189.90
Average
in-network MOOP: $6,461
Average
annualized premiums + in-network MOOP: $6,902
5. New York
Average
monthly premium: $55.52
Average
annual drug deductible: $160.14
Average
in-network MOOP: $6,291
Average
annualized premiums + in-network MOOP: $6,957
4. Mississippi
Average
monthly premium: $42.31
Average
annual drug deductible: $300.52
Average
in-network MOOP: $6,610
Average
annualized premiums + in-network MOOP: $7,117
3. Maryland
Average
monthly premium: $65.42
Average
annual drug deductible: $168.46
Average
in-network MOOP: $6,337
Average
annualized premiums + in-network MOOP: $7,122
2. West Virginia
Average
monthly premium: $53.55
Average
annual drug deductible: $63.79
Average
in-network MOOP: $6,502
Average
annualized premiums + in-network MOOP: $7,144
1. Wyoming
Average
monthly premium: $45.50
Average
annual drug deductible: $220.00
Average
in-network MOOP: $6,700
Average
annualized premiums + in-network MOOP: $7,246
For
a list of average 2019 Medicare Advantage plan cost data for all 50 states and
the District of Columbia, see Average State
Medicare Advantage Plan Costs for 2019
The Centers for Medicare and Medicaid Services (CMS) recently
posted a giant collection of 2019 Medicare Advantage plan cost data: a file
that shows what each plan will cost, in each county.
The file also shows what the plan’s annual
prescription deductible will be, and what the plan’s annual in-network maximum
out-of-pocket (MOOP) spending limit will be.
The file, the 2019 MA Landscape Source Files
spreadsheet, is available here.
We used the spreadsheet to come up with
statewide cost averages.
To do that, we converted the monthly premium
figure for each plan into an annualized figure, by multiplying the monthly
figure by 12. We then added the annualized premium figure to the MOOP to
come up with a total annual cost figure.
We also tried to improve the fairness of the
cost comparisons by limiting the information used in the calculations to data
for reasonably similar types of plans. We filtered the spreadsheet to
include only the data for local health maintenance organization plans,
local preferred provider organization (PPO), plans and regional PPO plans, and
only the data for plans that offer both Medicare Part D prescription
drug coverage and enhanced alternative drug benefits.
Of course, our assumptions may fit some
enrollees better than others. Medicare enrollees who expect to be healthy may
prefer a plan with low, or no, monthly premiums to a plan with a low MOOP.
But clients who can afford it probably ought
to budget for the possibility that they will use enough medical care to reach
the MOOP.
We found that the state with lowest MOOP and
annualized premium total was Nevada.
The average monthly premium there was about
$45 per month, the average MOOP was $3,992, and the sum of the annualized
premiums and the MOOP was $4,538.
The median premium-MOOP total, and the maximum
was $7,246.
For a list of the states with 10 highest
premium-MOOP totals, see the idea cards above.
Allison
Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health
insurance editor. She has a bachelor's degree in economics from Washington
University in St. Louis and a master's degree in journalism from the Medill
School of Journalism at Northwestern University. She can be reached at
abell@alm.com or on Twitter at @Think_Allison.
https://www.thinkadvisor.com/2018/10/08/10-worst-states-for-2019-medicare-advantage-costs/
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