HUGE Medicare Supplement Rate Increases (and what to do about them)
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- čas přidán 9. 06. 2024
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Tell me - have you received your rate increase notice yet this year? Please share your thoughts below!
Not yet.........scared to see what it is :(
Yes, I received notice in March - I have plan 'N' through United Healthcare (AARP). My premium is going to increase $26.50/month effective with my Nov. 2024 payment. I suppose it could have been worse. I'm in CT, so my premium is probably already higher than it would be in other states (currently $177.50/month). They simply cite "changes in the costs of health care services" as the reason. If you have any comments at all, please do! Thanks!
@@BlackBird-mv8wg in CT you can shop/change plans year round! But yes, they are more expensive because of this: portal.ct.gov/-/media/cid/medigapfactsheetpdf.pdf
Last December my rate increase for Mutual of Omaha plan G was 21% !! Been on this plan for 4 years. Great information - never heard of the Trial Period.
Didn’t know until I got the bill. thanks UHC.
"Higher loss ratio" 🤣 The insurance companies are never losing money. Just some years they don't make as much insane profit. So in 2020 and 2021 when people weren't going to the doctor much AND they were still paying monthly premiums the insurance companies were swimming in cash. Now people are going to the doctor more, so the insurance companies are completely ignoring all that cash they piled up in 2020 and 2021, pretending like those massive profitable years never happened and raising rates like they didn't make EXTRA profit in 2020 and 2021.
Exactly! I was thinking the same thing...what did the insurance companies do with all of that money saved during covid?
@@suemilkbone4868 Obviously it lined the pockets of greedy bastards.
They weren't going to the doctor in 2020 and 2021? Did you forget Covid? Seems hospitals were all full?
@@suemilkbone4868 They used it to lobby congressmen and women to allow them to increase premiums on the elderly!!!!
was a time we had politicians that protected us against all this greed that came about since covid
Then vote blue up and down the ticket, every chance you get. Democrats are for single-payer (like Canada).
Yeah, the 1960's.
You are VERY naive. The politicians are the GREEDIEST b@stards in the entire system. Insurance companies are in business to make money and are actually only allowed a certain % of increase per year. And you ALWAYS have the choice to self-insure if you don't want to purchase insurance.
Im going to go traditional medicare with a supplement BUT as soon as the rate increase is beyond what I can afford to live, I am dropping the supplements. This will probably happen one year after I turn 65. They have us over a barrel and there are NO GOOD options if you are a few dollars over the poverty line. I just wont go to a doctor. I will do as my son did. He failed to get help with his heart issues because he couldn't afford insurance. He went into cardiac arrest at home and died. He was 29. No one cares about any of us living. Its ALL about money and anyone who thinks differently is in denial.
Or pay premium on the cheapest HDG high-deductible-G. Then don't pay the bills when they come. Medical debt no longer reported on credit bureau. Goes to collections eventually. Ignore their calls. Kidding of course ... but ... it happens😅 Apply for Medicaid when you qualify; sounds like you are almost there.
If you chose an Advantage plan and at a later date want to change to Medicare you will have to pass the underwriting of the new company. My medigap plan cost me 336.00 per month plus the cost of Medicare about 174.00 plus 95.00 for a drug plan. It’s expensive but I’ve had two defibrillators replaced, a stent, diabetes treatments and I am fixing to be 80 yrs old. It’s only money.
@@emc6511 IF you are a senior on SS, or have any retirement accounts, pensions, 401K, IRA, they cannot garish any retirement accounts, or any bank accounts that receive money from retirement accounts. There is no collections for retirement accounts.
I’m in the exact situation and if we were to need a surgery and hospital stay we will have to choose either being homeless or getting healthcare. I was kicked off my medical recently because my husband died and my social security spousal benefits are too much albeit still an income of poverty. They made me go over to covered ca. and now I have a monthly plan I can’t afford and all the copays are extremely high. My monthly meds copays I can’t afford. But yet they are giving millions and millions of illegals 100% free healthcare along with cash food and housing.
@@emc6511 Just be aware if you own property and plan to leave it to your children or other relatives, some states implement Medicaid recovery. After hiring a lawyer and working with a realtor to sell my mother's house and a few acres of prime land, the State of Ohio took almost all of the proceeds, except a pittance, to cover (expensive) care my mother received at a private hospital (long story) after she had a brain aneurysm burst.
With insurance companies nothing is shocking. Disappointing, disgusting, infuriating, yes. We need not-for-profit national medical care, not run by the insurance companies.
The government running it won't be any different, probably worse. If we went back to cash pay, or no govt involvement, it'd be way cheaper, but that ship sailed.
@BitsyBee we do have cash pay options but no one but ultra rich can afford
We had it, then the Republicans got involved and saw a bunch of $$$$$$, their eyes spun around in their heads and they dipped their beaks into our pockets even further. They suck
I agee, with a large pool the cost goes down, the healthy and the less healthy pay the same premium, and it evens out. There are no for profit competing interests or share holders expecting payment.
Most Americans aren’t willing to pay the considerable higher taxes that a government funded health insurance would require.
AARP/UHC really jacked up Plan G premiums in Florida ... the problem to me is that after a peak year (higher loss ratio) the carrier raises the premiums ... but it seems will **NEVER COME DOWN** (if loss ratio improves, they get to pocket the financial benefits on their bottom line going forward).
YUP!
Just got my bill and didn’t know beforehand. Thanks UHC
How about the twice a year increases. A bunch of bull. Told was getting a pre inrollment discount.
Learn about Plan HDG in Florida, do the math, and see if it works for you. AARP offers it in Florida now.
For one thing, the few impossibly expensive, but rare conditions and procedures that Medicare has decided to cover, often without any proof that they will even really work in any significant way to either cure or prolong life significantly. These costs make everyone's premium go extremely high, including their drug insurance, for the same reason.
I joined my AARP UHC Medigap plan in March ( Southern California ) and less than 10 days later was informed that next March my rate will be increased by 14% !
Welcome to retirement 😮
You are still within your 6 month initial enrollment, so you can change your carrier or your plan if you want. And CA has a birthday rule too, so you have some options to change down the road if desired.
This is much bigger than a rate increase. People in the US overall have preventable illness. We live in a processed foodland of convenience.
Pay a little more for quality food and look at preventative meaures. We are so far behind.
Being a nurse or 29 years I have seen a lot. Much of it is also rooted in trauma.
Allopathic medicine is what keeps us sick. We need more holistic practices and providers.
Covered by Medicare!
What SHOCKS me is all these seasoned citizens bitching and whining about even a 15% or likely about less than $30/month increase. GROW UP people......this is ONE DOLLAR per day. And I will bet all of you that you already spend, err WASTE at least that much money every month on Starbucks or some other item that you eat or drink does nothing for your HEALTH...But you do always have the option to not buy a Supplement Plan and just pay those costs out of your pocket if you want. Since when is a Supplemental Plan a God given right or Govt, responsibilty?
Totally agree with you . Cancer DX at an alarming rate with chemo pushed on most everyone. I'm 72 and refusing
I chose quality over quantity of life we need to develop an😮d protect our natural healthy world Instead of saturating pesticides into our foods water and preservatives added for those choosing packaged foods. I can't even see a naturopath or other similares providers with medicare and supplement.No I won't be forced into the medical model or nothing. I feel so sorry for these young people😢😢DX. I've lived a good life and still am will go till I can't go nomo'
My plan g-x in CA was 190.00, now 218.00. This is traditional medicare. So expensive.
The problem with advantage plans is the treatments for cancer is very limited. You will not be allowed to go the the best cancer treatment facilities. Many independent brokers say you should get a cancer and hospital indemnity plan if you pick advantage. also the for profit private insurance companies that have advantage plans are starting to use AI in their denial process for healthcare.
Advantage Plans are 100% garbage.
Insurance companies are going to be forcing seniors with a supplement plan to a dis-advantage plan. Also don't forget about the Plan D drug plan rates going out of sight
Sadly, this is true.
How is this true? By going up on rates?
Absolutely!
Choose HDG
@@EXREPUBLICAN The poster is clueless.
I have the ABT agency and they are extremely helpful and knowledgeable of their clients needs. I highly recommend them as insurance agents
Thank you Richard! 🙏🏼
I tried..... they don't write here (CT)... so they referred me to an advisor that, supposedly, does... 'mail returned as undeliverable'... yeah.... not helping... moving on
@@tpmillerusa we do have a great CT area referral, feel free to email me directly for more information! Stephanie@abtinsuranceagency.com
Great content here! I can't wait to hear what you think about the OCR ruling, that will essentially eliminate underwriting because it is now deemed to be discriminatory as well as rating women lower than men, and those under 65 who have Medicare due to certain ailments or disabilities. This is yet another reason why premiums are becoming unbearable. Not to mention the direction Part D is headed!
I really appreciate you offering this information. I'm 3 months shy of turning 65, so I'm investing alot of time wrapping my head around all these choices. You are helping me so much!
I love hearing this! Call us anytime for free assistance.
Very good video! Well, explained!
Good job!!
My husband and I have the original Medicare plus Empire Plan. The Empire Plan takes out $750 from my pension for both of us every month. It's very high but my school district (I'm retired state employee) refunds us the Medicare Part B. After refund, we pay $402 total including medicines.
I’m confused, I didn’t see any rate decreases in 2021 even though the loss ratios went way down.
You’re correct, rate decreases are very rare.
I had to change from United Health Care Supplemental Plan G because of the upcoming rate increases especially in the prescription rate increasing also.I live in Central Florida and I'm in my 70"s and my rate rose to over # $300.00 a month, I changed to United Healthcare Advantage plan and so far the plan has been excellent.
Great info, content, and agency as always. Plan G is definitely the most adversely affected plan, which doesn’t help loss ratios. This is why I’m a big proponent of HDG for healthy individuals and knowing how well Original Medicare negotiates rates.
Yes, it had gone up consistently in the 5 years since I have had it
This was very interesting. I was all ready to switch over to Plan N this year, but then I saw that Plan N with Aetna rate increased just as much percentage wise as Plan G, according to our state insurance dept. website. So now I’m wondering if the insurers are looking to make up for lost time with big Plan N increases too.
What state and zip code are you in?
In my area, the answer is Kaiser's Medicare Senior Advantage. No supplements to pay and no Part D. It is an integrated system where things don't fall through the cracks like so much of fee for service medicine and it avoids the multiple visits and procedures which have more to do with maintaining income than healthcare. A recent workup for an esophageal problem with a CT and barium swallow followed by surgery and a night in hospital cost me $50.
turning 65 in november.i would love to know how prices are in my state La.thinking about going with the G or N plan.
I love you and your channel Stephanie. Thank you and best wishes to you from Minnesota.
Thank you so much! 😊
Many people getting diagnosed with cancer outrageous costs for diagnostics and treatments. We need to quash
I haven't receives an increase letter this year, yet.
My Plan N with Mutual of Omaha went up 4%. What I'm really concerned about is the Plan D premium & Rx cost increases.
4% is good! And yes, big Part D changes coming for 2025.
Are insurance companies raising the rate on the high deductible G at the same rate as the standard G plans? I’m wondering if they consider both G plans in the same pool for calculating their loss ratio.
The price, and fees go by your zip code, so its hard to compare to other states. Plus some insurance companies have more price stability over a 10 year period if they are more national than others.
My primary doesn’t participate in Advantage plans. (Mayo) So I will never change to one.
Does Mayo have in-house plans or discounts or any senior rates?
@@emc6511 I don’t know. It’s a nonprofit, so it’s possible.
Stephanie 👍
Stephanie…do the insurance companies “really” lose money? Or…just make less profit?
My Plan HDG went up 3%
Medicare Advantage is third psrty coverage.They disallow claims firs of. My GP and oher doctors don't
accept Medicare Advantage.
Are you licensed in North Carolina? You are the first agent that has ever mentioned the one year trial for Medicare advantage if you are on a supplemental plan, which I am (G). I definitely want to change my drug company part D. Humana.
Yes, we work in NC!
You do not have to change from a Medicare Supplement plan G in order to get a new Part D drug plan. You can just pick a new Part D drug plan that meets your specific drug needs. And remember, if you do switch from a Supplement plan to an Advantage plan, the drug plan you will get will be whatever is bundled in. You will not be able to choose a Part D drug plan that best suits your drug needs. You can only do that if you have a Supplement plan.
Stephanie how about HDG rate increases?? Thanks
They tend to be low, since this plan pays on much fewer claims.
My premium has gone up twice in a year and a half since I started Medicare.
What insurance company do you have?
My United medigap went up 11. This more than I a afford. I did not go to doctor fo 3years.
Stephanie: I am 74, in TX., and have Plan N. On 07/01/2023, I received a 16.3% increase in my Plan N premium. On 07/01/2024, I will receive another 22.2% increase in the same policy. Since I am being treated for Cancer in the last 2 years, I will fail Medical Underwriting. Guess I can do nothing. The Plan N I chose was recommended to me as from a stable co. (MOO), who would probably not have big raises in the future. Will this rise in Supplement premiums continue for the future?
I wish we had a crytal ball to predict the future. Even very stable, A+ rated companies like Mutual of Omaha are seeing big rate increases sadly.
Anthem BCBS Ohio...plan G...notified that my policy and my husbands policy will go up $20.00 ea monthly starting July. We both started in Oct 23.
BCBS is getting out of the Advantage plan market in Kansas City. From what I read, Missouri has a guarantee issue right in that case, but how can you be sure if you went for a supplemental plan, cost isnt still being based on your health?
In a “guaranteed issue” situation the Medigap insurance company must approve your application at the preferred rate.
Wife and I have AARP/United Health Care Plan G. It just went up 13%. This is our third increase, and neither of us are 67 yet. 😠
Wow.
I have found AARP to be very expensive.
What SHOCKS me is all these seasoned citizens bitching and whining about even a 15% or likely about less than $30/month increase. GROW UP people......this is ONE DOLLAR per day. And I will bet all of you that you already spend, err WASTE at least that much money every month on Starbucks or some other item that you eat or drink does nothing for your HEALTH...But you do always have the option to not buy a Supplement Plan and just pay those costs out of your pocket if you want. Since when is a Supplemental Plan a God given right or Govt, responsibilty?
I can switch from Advantage plan to Plan G every year without medical underwriting. We have "open enrollment" every fall for Medicare plans. I just have figure out which plan suits me best and find medical insurance for my wife, who is still under the of age 60.
What state are you in out of curiosity? I’m licensed in 20 and this is not true in any of them. There is an Annual Election Period, 10/15-12/7, but you can’t go from Medicare Advantage to a Medicare Supplement without answering health questions, possibly getting denied. I’m guessing maybe you’re in Massachusetts?
@@ChristopherRuhminsThis sounds like it might be employer-provided medicare coverage. Also, I think Texas BCBS does open enrollment for medigap duri g AEP.
So, regarding the Trial Right, if you switch from a Supplement G plan with company A to an Advantage plan, and then go back to a Supplement G plan do you have to go back to the same company A or can you choose company B with no underwriting?
No, you must go back to your original Medigap Plan G company - *unless* that company is out of business or no longer offers that Plan any longer.
You can go back to your supplement yes with no underwriting but the price will go up.
@@brettkulla4784 Sounds like they raised the price only because they're mad that you left them. Altogether it doesn't sound like Trial Right would have any advantage for most people.
@@quad_kite_flyer I'm glad to hear that you know what will work for thousands of people!!! You must sell supplements only.
I have not received the letter yet. I pay $173 per month now to Mutual of Omaha for plan G. I wonder how high my monthly premium will go up in October?
You should get your notification in August or September.
I will wager it's less than ONE dollar per day.
I turn 65 in October. I’m currently on early Social Security and received my Medicare card yesterday for October 1st coverage.
When can I sign up for a Medigap/supplemental plan? I’ve heard conflicting information. Medicare says the 1st day of the month I turn 65 (October) and a window for an additional 6 months. Others have said I can sign up before I turn 65. I would appreciate your answer.
I know you covered this in your video, but I was under the impression I could apply for a Medigap policy before I turned 65.
Thank you
Tom
You can sign up *now* for an Oct 1st start date!
@@AbtInsuranceAgency
Is there any benefit to signing up early?
will I receive the same rate if I decide to wait until closer to October?
Is there a waiting period once you apply for the medigap policy to take effect?
When will the premium be due?
Thank you
Tom
@@tomconley2458 one benefit to signing up early is “locking in” your rate. Even if the premium increases between now and October, you pay the lower rate at the time of enrollment. The policy cannot be effective until Parts A and B are effective, so it sounds like 10/1 will be your policy start date.
Some companies will make you pay the initial premium on or by 10/1, and others will have you pay the initial premium at the time of enrollment. I hope this helps!
@@AbtInsuranceAgency
Thank you.
I will be contacting your office soon
I live in the Seattle suburbs. One hospital here for 2022 lost $63 million, another lost $150 million, and another that has hospitals from California to Alaska lost $6.1 billion. In addition, none of the hospitals clinics have ever been moneymakers. Furthermore, the medical insurance companies are losing money. Is it possible, that we are headed for a single payer system as the federal government takes over all the hospitals, the clinics, and the medical insurance companies?
Begin rebelling. It’s mostly because of the drug policies that are being implemented along with not giving law enforcement the authority to enforce the laws.
Can’t you just imagine how THAT would work .. VA for civilians. 🤦♂️
@@gaspumprepairservice7009 I have a lot of Canadian friends --- they love their system and wouldn't trade it for ours for anything.
All by design, there is poor management and greed on the part of hospitals and insurance companies
Had Canadians that rented a condo by me for a couple months every summer in florida. They would get all their procedures done here because the commie care in Canada had waiting list up to 2 years for minor surgeries. If you really get sick up there your best bet is to pray. Isn’t socialism great! Thanks Dimocraps
Information on N and shrinking participation is interesting. People are still drawn to "Cadillacs" -i wonder how stable N pricing will remain through the rest of this decade...
It is so interesting!
I keep hearing agents say that they have had more people choosing plan N, even though Plan G is still the most popular. The problem with Plan G is that it has a much higher percentage of sick people than plan N, so annual rate increases on Plan G tend to to be considerably higher than on Plan N, making Plan N the better value over time.
@@MaryBethMcCoy Bingo, someone has been researching ;) Many people don't want to pay those little co-pays, and you just take on a little risk.
Those scary extra charges is so over blown, the percentage is so small some agents has said they have never seen it happen. Plus Medicare does penalize them for not participating. They also have to inform you before their service, because they would have to bill you directly, so always read the paperwork before you sign. That's when you say no thank you.
Do we EVER hear about insurance company executives taking pay cuts?
I am not 65 yrs yet. I been listening to all these videos on medicare. I had plan at age 65, to choose Medicare plus a supplement. I am starting to change my mind. I think it is very unfair that insurance company take advantage of senior because of their greed. Choosing a supplement and having an increase yearly is not what I want. Advantage plans are on my mind. Thank you.
If you choose advantage you must know these things. You have a small group of primary care doctors to choose from and they are mostly foreign doctors that serve mostly the uninsured with their office usually in the hood. If you need a specialist you must see your primary first and get approval from the dr and then wait on approval from the advantage company which is not quick. Even when approved they will choose your doctor, not you. Same with diagnostic test. You must have a wait for approval. If you need to go to a hospital it must be their approved hospital which again is not the best available. You have copays for doctors and procedures also. Bottom line is if you are healthy advantage can save you money. But don’t get sick or have an accident and expect the best care on an advantage plan. I just got off advantage after a year of finding these things out for myself. If you have the money it’s best to go Medicare and supplement. See your doctors and go to your hospital and have piece of mind that the bills are paid. Good luck
Basically, with Medicare supplement plans you pay up front for your medical care ongoing every month in premiums. With Medicare Advantage plans you don't pay much or anything ongoing, but end up paying a huge amount of bills when you are sick or injured, which can be six figures and likely more. Supplemental plans under those latter circumstances pay for way more and don't restrict you in any way and medical care is better.
I have plan F under Medicare supplement; I pay $300 a month and pay nothing, zero, nada, ever for anything else, no co-pays, no cost sharing. Nothing. It's all between the provider and the insurance company so I never see a bill; there's no fussing and waiting to get approved or as to what is covered and not covered. This latter "advantage" is what is most important to me; it's rather freeing and worth every dollar. I can do this on $24,000 a month income. My recent heart surgeries were well, well over $300,000, maybe closer to $400,000. I don't even need to think about it. There are plans available for less than $300 a month with co-pays and cost sharing; G is a good choice and N, too, depending on your circumstances. If you can possibly avoid Advantage plans, do so!
Don’t do it.
@@sct4040 Good advice, but for some who just can't afford any more it's their only option other than to just have basic Medicare until they qualify for Medicaid which isn't very good either, but its free.
Medicare advantage plans means you are no longer on Medicare. They are for profit insurance companies. they routinely change their policies, their rates and their provider network every year. And you lose that first time sign up without regard to previous conditions. Don’t do it.
Greed has become the American way.😢 it's a money hungry for-profit monster! Things need to change. Maybe politicians should have to pay for healthcare for themselves like everyone else. Maybe they would have a reality check! Sorry for the rant.
8:15 is underwriting required to switch from medigap to advantage plan?
No! Medicare Advantage plans are not medically underwritten.
I’m interested in how much plan G rates are going up (in dollars, not percentages) compared to the high deductible G plans.
This can vary so much -- there is not a straight "dollar amount" answer.
If you choose an Advantage plan when you first turn 65, can you still invoke the 1 year trial right? You stated that that you would have to go back to the supplement plan you left to invoke this rule. If someone never had a supplement from the get go, what supplemental insurance company could you go back to?
Yes! The "Trial Right" has 2 parts - one for people who choose an Advantage Plan right at age 65 (when they started Parts A and B), and the second one for folks who had a Medicare Supplement plan and dropped it to get an Advantage plan for the first time!
People can always choose HDG. Even if it cost $70 a month with the $2,800 limit, it's still cheaper than a zero premium Medicare advantage plan with a $5,500 limit. Plus you won't have to deal with networks and pre-approvals and lose the ability to go to Mayo clinic if you choose.
I'm sure you are aware, but perhaps another reader does not know. The $2800 deductible is not for the full Medicare bill. It is only for the 20% that Medicare does not pay. Bill $100. Medicare pays $80. You pay $20. ($2800 - $20) ded remaining. Likely would never pay full $2800 majority of years, unless major surgery etc every year which is rare.
@@emc6511 yeah it's not actually A deductible. It's a limit. And it's actually $2,800 plus yearly premiums plus part B deductible if you first hit that limit with part A expenses. Most people won't hit that limit unless you have a catastrophic event.
It's just not mayo clinic, it's probably all of the high dollar cancer centers.
For example, my husband was diagnosed with prostate cancer in Dec, his treatment plan goes over several months. With one high dollar out patient treatment. He would have pay the deducible in Dec. then when his cancer treatment continue, he would have to pay the deductible again in Jan of the new year. So that's 10k+ gone in 2 months.
Thanks goodness he is not on Medicare Advantage, he has excellent insurance through his employer. We got to picked his oncologists by their skill and reputation and reviews. He has 3 oncologist, one in CA, and two in AZ. He had many high dollar tests to confirm his cancer before deciding on the treatment protocol. Not every test is 100 percent.
His treatments mostly were based on him not having metastatic disease. We had to be sure. He even had a PSMA pet scan to detect any metastatic prostate cancer, the most expensive test. We know advantage would not have paid for all those tests. Some will only pay for 3 in their lifetime. Typically a diagnosis of cancer would facilitate a pet scan, which could be on a yearly basis, depending on the cancer diagnosis.
Prostate cancer testing and treatments has evolved over the years, but advantage picks the cheapest, the out dated ones. We know this because we have a friend on advantage, and now has metastatic prostate cancer, after his initial treatments. Guess what his doctor now says,, Well you have cancer somewhere in your body, but we don't know where it is.. His insurance never did any pet scan, or a PSMA pet scan. When you have cancer, you cannot treat it, unless you know where in the body the cancer is. We are horrified, with the care he has received.
Pick wisely people, your life depends on it. Get a good cancer and hospital indemnity plan if you pick advantage.
Yes, we went down that route of the high deductible plan G. Works well, especially if you have an HSA. I want to avoid Advantage plans because those plans inject the insurance company into the decision making process for care. While they are supposed to provide everything Medicare does, it's the company, not the doctor, who decides if a procedure is "medically necessary". In addition, I don't want to deal with networks, and we have very few options for plans in the rural area that I live in. But I really wish that the problems with Medicare get addressed. There are also the IRMAA penalties that hit people who are not necessarily high income, such as people who are selling their homes to afford assisted living. Suddenly, they may find themselves paying huge penalties for their Part B and Part D premiums. We need to treat seniors better than this.
@@robannmateja5000 advantage plans are garbage
Are you licensed in North Carolina?
Yes!
So, what if you were new to Medicare in January of this year and selected a Medigap plan. You're still within the 6 month window until July 1. Can you select another Medigap plan with no underwriting if you do it before 1 July?
My understanding is the six month window is three months before your part B start date and three months after but you should definitely talk to an agent who is licensed in your local area.
Yes, you can! During the 6 month window from your Part B start date you can change Medigap plans as many time as you like without medical underwriting.
Mine went up $240 a year. Thanks AARP/UHC plan G
I’m turning 65 soon and have private insurance coverage with my company’s group insurance. I was told I did not have to select Medicare B and I would be automatically enrolled in Medicare A. Do I have to enroll in Plan G? Or can I wait until I drop the private coverage?
If your employer has fewer than 20 employees you do need to enroll in both Parts A and B; if the employer has 20 or more employees you don't have to enroll in any Part of medicare if you don't want to. Enrollment is not automatic unless you are taking Social Security.
Are you licensed in Idaho? I believe Idaho also has the birthday rule for medigap plans...so I can switch medigap companies once a year if I find a cheaper rate.
Yes and yes!
I have original Medicare and plan I .my doctors get approval before medical tests.The insurance company knew this before annual rate change so they raised i so high.
so it's not about your best health care but which way the insurance companies can keep their profits high
Are you licensed in AZ? I’m not at all sure how any of this works.
Yes! Call us anytime at 888-465-9728
Just got my rate increase which is effective in July. A nice 20% increase. But to be fair last year I had a zero increase. I’m in a tough situation as far as changing is concerned. Last year I began treatments for bladder cancer and it looks like it’s going to be an ongoing deal. Manageable but unlikely it will ever be cured. So there is no way I could pass under writing. But I do have the one time trial period I can use with Medicare Advantage as my current plan no longer writes policies in my State so I can’t switch back to it when leaving Advantage so I can get another G plan w/o underwriting. But currently I’m having frequent doctor appointments and don’t want to try going through this process with so much going on as I don’t want to risk being w/ o coverage at any time. Going to be tricky with the timing. So will just swallow the increases for a while and look at it later. Of course I could be dead in a few years anyway so won’t matter. Ha. Have to dig deep to find the humor.
@msdogs1976 - I agree you should stick with your current insurance because of your treatments. I'm sorry for your cancer but glad you have the best insurance and you don't have to go through the stress of waiting for approval or being denied, etc. They are working all kinds of miracles now with cancer so find humor but don't give up!
@@JD-tn5tb Thanks.
Thus why MAPD plans are by a huge margin more popular than supps. Everything comes down to what’s affordable. I write an average of 350 MAPD plans every month of the year and at most 10 supps a month. Problem is MAPD carriers are all crying poverty now also. There is no answer but the writing is on the wall.. this country’s health care is beyond broke and not fixable at this point. Those of us in the business on the highest levels can see what’s going on and where we are headed and it is not looking good.
And it’s greed on all levels. The massive over prescribing of those also on Medicaid when going into Medicare is beyond stunning. The sheer quantity of doctors- specialists , people are now seeing is mind blowing. I’ll say the average number of meds per person I write is 25. The average number of specialists someone sees is 9. Regions of the country are worse than others with PA being the absolute worst in med prescription abuse and the number of specialists one person is seeing. I had a client have 47 active medications…. The average is half that quantity if on Medicaid.
That's just shocking about all of those prescription meds and specialists.
So, in your opinion, where is health care heading?
Can confirm. Insider view here PBM side. Individuals of all ages list of Rx excessive. Frequent formulary changes bring more havoc to the person to switch.
Everyone is stressed out and they go to the doctors if they aren't required to pay out.
At 65 and on Medicare and a supplemental I feel like there were no choices that apply to individuals that are very healthy as I am …..I run 4 miles daily and eat very healthy and take 1 medication for my thyroid….getting old just means paying more🤨
The thing is, one can never assume that just because they lead a healthy lifestyle they are protected from disease. I never thought I’d be diagnosed with two different expensive diseases two years in a row, leaving me to pay max out of pocket two years in a row. Now I’m on Medicare and very happy to have a $240 deductible. I have always eaten healthy, exercised my entire life and also only had a thyroid issue. My diseases are both caused by genetics, which I had no control over. I will never be able to quit a medigap plan.
Then pass on a Supplemental insurance plan.....Cost will be $0...........until you have a medical issue. Good luck with that.
Well, the problem is that nobody has a crystal ball so you never know what might happen in the future. Even being healthy does not mean that you won’t ever get sick, or be involved in some type of accident where you would need medical care. I am also healthy, but the way I look at it is that if something does happen, I want to have the best healthcare I can afford. For me, that is traditional Medicare and a Supplement Plan N. Yes, it costs more, but at least I know if something happens, I am covered and can get the care I need when I need it, and unlike Medicare Advantage, there should not be any unexpected huge bills or denials.
Look at High Deductible Plan G. It will be cheap.
I am so lost on what I need to do about supplemental insurance. Is there a time limit before it's too late to get a policy? I got on Medicare at the beginning of May but still don't have a supplement plan or a part d plan. I have been too confused to act.
You can call her
They give free support. Then there is Marvin music's company and Chris ( I don't have his last name!). You can talk to all of them without making a decision to go with any of them until your ready.
Watch out for the local town brokers, their interested in getting g you on sn advantage plan for the 1200 a year commission they receive if you go with them
Select your part D on the official Medicare website. I believe you have 60 days before you are penalized. No hurry for your supplement insurance. You have six months from your Medicare start date to enroll in one without underwriting.
@@yeahright532 Thank you that is very helpful
Call us! Our service is totally free. (888) 465-9728
@@BUBBLESPOGOI'm a local town broker. I take a lot of time to educate my clients on the differences between medigap and MA, how each works, and the pros and cons of each, so they can make a fully informed decision. I'd rather make less per client, but have that client feel good about referring their friends and family to me.
I won’t be eligible until 2026, but I’m a State employee and I’m looking at an advantage plan offered to retired employees that costs $195 a month, but has nationwide coverage and a MOOP of $500.
Many State employees have great retiree health insurance options!
Mine went up 16% effective in August.
Wow!😮
@@AbtInsuranceAgency Mutual of Omaha.
And that equal what about ONE dollar a day? WOW
@@steveludwig4200 Your math is incorrect. About $1.50 per day.
Another reason for "loss ratios" is the fact that boomer populations are dwindling. Insurance companies are not as profitable with this loss of clientele.
Y i will probably GO with PLAN N in a couple years when i get to 65 heard the increases are less than G plans are hope to pick a reputable company that doenst have a big history of rate increases
After a year, my medigap jumped from $100 a month to $160.
Get a medigap plan from a different company.
Really? Loss ratio? You sure it isn't because the insurance company CEO needs a couple more houses?
🤔
This mirrors the homeowners insurance situation here in Florida.
Loss ratios are WAY up for those who choose to live in areas prone to hurricane damage.
Who pays? I do, even though I live 30 miles inland, and am at low risk for flooding and wind damage. My insurance went up 35% this year. Not a single claim.
I'm 65, pretty healthy, on Plan N, and my rate increases should be paid for at least in part by the unhealthy, high loss Plan G subscribers.
Licensed in Tennessee?
Yes! 🎉
If they raise rates before the new year, you should be able to change your plan without penalty. Insurance companies must think we don’t have any idea that they are not losing money, they want to increase their profits. It has nothing todo with the people or their health. I would go broke if i went on an advantage plan even if I only had to see a dr once a year and forget about having an emergency.
HDG is a better option over Advantage provided you have a little money set aside in case you have a bad year.
I suspect it isn't lost money as much as it is lost proftits.
It's a business. If they dont make money a LOT of folks lose their jobs.
My N went up 11%
That is a big jump!
Turning 65 in a few weeks, signed up for Medicare & supplement in March and my Plan N already went up 11% from when I signed up 😢
@@simba001ly Did your plan not lock in your rate back in March when you signed up?
I was quoted the old rate. The old rate was confirmed and then when they told me the payment would be withdrawn on June 5th, was when the new rate came into play.
@@simba001ly I would file a complaint. Your rate should have been locked in.
Ours was odd. Not complaining. My husbands went up by 40 dollars and mine went down by 10.
Same company and plan?
@@barreloffun10 yes. I don’t get it but I’m not complaining
@@laurijohnson7754 That is odd.
@@laurijohnson7754 That is odd.
Haha, what is "generally good health"?
That seems vague, right? Health questions can vary from company to company, but having a recent diagnosis of cancer, heart attack or stroke would disqualify you in underwriting. So would diabetes *along with* certain complications, or having a pending test or procedure.
@@AbtInsuranceAgency Thanks. In line with my thinking and why I tell people be careful choosing Advantage if they MIGHT want to change down the road. So many don't understand underwriting.
Best option: Leave this country and its predatory health care system!
Bye bye...
@@steveludwig4200 Bye
SAY INSURANCE NOT: IN-SURANCE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
If you vote for republicans. Then you vote for individuals. Who will increase your payments to the rich health care providers.
11 minutes and you said almost nothing useful. Of course other than the fact that you're available to help sell everyone a plan. Seems more like an 11 minute commercial.
Thanks for the feedback
Not very constructive comment, I found the information to be very constructive.
What a weird comment. Info was very informative. Haters always gonna hate I 'spose.
I learned much. I appreciate her videos, this one in particular.
All she does is hype up supplements. I've brought up great points before and they get ignored. Nobody here wants to have an intellectual conversation. I've been in Medicare for over 10 years. Half the people on this page have zero clue what they're talking about.