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September 9, 2012

Medicare in Ohio Insurance Plans, Coverage, and Information for Residents of Ohio

As the seventh most populous state in the nation, Ohio is home to an aging population. According to the U.S. Census Bureau, the percentage of Ohio residents age 65 and above will increase from 13% to 20% by 2030. Seniors in Ohio will increase from 14 individuals per day in 2000 to 119 individuals per day in 2012.

With such a large population of individuals age 65, many Ohio residents are eligible for Medicare. In 2010, there were over 1.8 million individuals, or 16% of the state's population, enrolled in the Medicare program. In terms of Medicare enrollment, Ohio ranked sixth in 2010 with 85% of individuals qualified for the Medicare program of Ohio due to age while the remaining Ohio residents qualified for Medicare due to other special criteria.

Ohio Medicare Advantage

Medicare Advantage plans deliver Medicare Part A and Medicare Part B benefits through a private insurance firm and may include additional benefits such as prescription drug coverage.

33% of all Medicare beneficiaries in Ohio were enrolled in a Medicare Advantage plan in 2010. 75% of these Medicare Advantage enrollees received prescription coverage with their plan. All Ohio Medicare beneficiaries in 2010 had access to Ohio Medicare Advantage plans with $0 premiums as well as a maximum out-of-pocket cost limit less than or equal to $3,400.

There were 24 Medicare Advantage contracts that offered 2011 plan options for Ohio residents. A total of 24 Ohio Medicare Advantage contracts will be available for 2012.

Ohio Medicare Prescription Drug Plan (PDP)

Medicare prescription drug plans offers coverage on both brand-name and generic prescriptions to help lower drug costs for Medicare beneficiaries of Ohio. 87% of all Ohio Medicare beneficiaries had some sort of prescription drug coverage in 2010.

53% of Medicare beneficiaries in Ohio were enrolled in PDPs in 2010. With 46 Medicare PDPs available exclusively to the state of Ohio, Medicare beneficiaries had the opportunity to pick plans available in Ohio that best suited their prescription drug needs. 19 of the Ohio Medicare PDPs offered in 2010 had $0 deductibles with $22.40 being the lowest monthly premium for any 2010 PDP plan.

In 2012, there will be a total of 33 Ohio Medicare PDP plans available to residents of Ohio with the lowest monthly premium being $15.10. The highest premium in Ohio will be $111.50. Around 23 of these 2012 Ohio Medicare options will have no coverage in the Medicare drug benefit gap while 8 of the plans available in Ohio are low-income subsidy eligible.

Call us today or fill out the form above to learn more about Ohio Medicare Part D prescription drug plans and Ohio Medicare Advantage plans and compare plan costs for your pattern of prescription drug usage and individual medical needs.

Medicare has neither approved nor endorsed this information.