HUGE Medicare Supplement Rate Increases (and what to do about them) 

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.

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!!!!

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.

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.

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.

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.

@@valerieversmesse3050 Yes I am also in South Florida and my AARP UHC G policy has $232 to $283 in less than a year and a half. Ridiculous. But you don't know who to go with because once you sign up you are at their mercy.

Advantage Plans are 100% garbage.

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'

@@333Starseed RFK, Jr is the only one acknowledging the rates of chronic illness and obesity in the US...Factory farms and major food companies keeping everyone addicted to their horrible processed foods and sending you right over to big Pharma...I wish enough people would wake up and vote this man in for change...same ole same ole for the last number of years with no major change...top 1% are living large.

Sadly, this is true.

How is this true? By going up on rates?

Absolutely!

Choose HDG

@@EXREPUBLICAN The poster is clueless.

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.

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

I love hearing this! Call us anytime for free assistance.

I've run the numbers scores of times and only if you hit the high deductible once every two years does the G wind up costing less over 20-25 years.

Thank you so much! 😊

What state and zip code are you in?

You know there are other companies carrying Plan N than Aetna.

🙏🙏

What is OCR? What "ruling"? Hmmm 🤔 that change SOUNDS attractive, but in the real world it will only skyrocket medigap costs forcing more folks into MA. (Fulfilling the dream of the Feds ). Traditional Medicare path with medigap is already only affordable to upper middle class beneficiaries . Same result if Medicare is required to include dental benefits . Very important to health but if included would skyrocket Part B. Subsidize dental care some other way .

The OCR or the office of civil rights is yet another 3 letter government entity trying to apply regulation and create laws at their own discretion. They currently regulate the discrimination clauses in Obama care plans and want to attack the Med Supp industry as well. You can already see Med Supp rates increasing faster and higher than ever before and that will only continue.

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.

You’re correct, rate decreases are very rare.

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.

4% is good! And yes, big Part D changes coming for 2025.

@@AbtInsuranceAgency Is mutual of Omaha pretty stable with their rate increases over time?

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.

They tend to be low, since this plan pays on much fewer claims.

In a “guaranteed issue” situation the Medigap insurance company must approve your application at the preferred rate.

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.

No! Medicare Advantage plans are not medically underwritten.

You should get your notification in August or September.

I will wager it's less than ONE dollar per day.

This can vary so much -- there is not a straight "dollar amount" answer.

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.

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.

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.

@@ChristopherRuhmins I am from Minnesota. I have been informed that during open enrollment, you can which plans at that time, hence "open enrollment",with no health questions. We have been doing this for for over 15 years that I have been employed with the state, now with the Medicare system we have the same type of open enrollment. The TV ads are starting to hit and will continue for several months ,

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!

Yes!

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.

@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.

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?

You are hit with 2 increases, higher health costs AND the fact that UH AARP gives a descending discount to those under 70. Because they are Community Rated to be competitive to the healthier youngsters (65) they have to start cheaper to attract clients. Then you have 2 people. When my husband and I were on their plan it seemed like we were getting an increase all the time.😮

What insurance company do you have?

Mine also - AARP/UHC

@@JAH-bc3df That does not surprise me. AARP/UHC is known for doing that.

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.

@@threeftr3349 The small co-pays and rarely see “excess charges” is for now in 2024. Just wait 5-10 years down the road and see. Hope that one is not stuck in a plan that they cannot get out of. For myself, I will not risk it as I can afford plan G and rate increases.

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

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

@@tomconley2458excellent questions!

🤔

Yes and yes!

Yes! Call us anytime at 888-465-9728

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.

You must be thrilled the commission for writing MAs is going up next year.

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

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.

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.

@@steveludwig4200 Hahaha Sarcasm will get you everywhere.

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.

Many State employees have great retiree health insurance options!

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.

You are in a closed pool with older, more infirmed beneficiaries . They haven't sold plan "I" for a looong time. I don't even know when. Did that include Rx drugs? My husband had J and left it for F. Then left F for High Deductible F. He's 81, only hit the deductible 2 years so far when really I'll with surgeries. Premium $71. But Deductible is $2800. Really save when you arent sick.

Yes! 🎉

Get a medigap plan from a different company.

It's a business. If they dont make money a LOT of folks lose their jobs.

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.

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.

Same company and plan?

@@barreloffun10 yes. I don’t get it but I’m not complaining

@@laurijohnson7754 That is odd.

@@laurijohnson7754 That is odd.

Bye bye...

@@steveludwig4200 Bye

Well they have gone up the last two years and Democrats are in charge so I guess you are wrong.

@@JAH-bc3df sorry, you giving out false facts. Republicans control the house in the two years and are blocking anything to help the american economy or people.

@@JAH-bc3df oh, in the two years that democrats had control of the government. They pass a major infrastructure bill. That provides the american economy to the strongest economy in the world.

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.