Medicare Supplement Hidden Risks Part 1 

As a Medicare broker not affiliated with this channel, I’ll say this guy is top tier Medicare knowledge level. If I weren’t a broker, I would fully recommend my family to him vs anyone.

Most fair-minded and complete expert on RU-vid!

Very helpful. How do people learn about Medicare. I'm 63 and these showed up on RU-vid. Without this, I would not even know where to begin.

I've watched a lot of Medigap videos, and this one is a superb complement to the usual information provided. Good job!

I enjoyed your analysis of who's attracted to and shy away from certain plans and the subsequent impact on rates.

Navigating all these variuos issues is a nightmare. Thank you for the help!

This information is so helpful for someone like me who is 8 months from turning 65! I plan to watch all of the videos.

Thanks for the information, I watched the second part first because I came across it first. You videos are so easy and simple to listen to . I will definitely be in contact with you office .

Thank you so much for your outstanding videos. I had no idea what a quagmire Medicare was when I enrolled four years ago. The information you impart is so timely and easy to understand it takes finding the right coverage much less daunting. I have shared your videos with everyone I know, especially now with the financial climate being so precarious. Thanks again.

Thanks as always for the eye opening information.

I am revamping my husband's coverage and planning my own. This gentleman has been the most informative source of Medicare and insurance choices for supplemental and Advantage plan information I have found. It is making more sense the more that I listen! Would love to get in touch to finalize choices.

Thank you so much for this education. It is helpful!

Im going to be calling you soon. I am leaning on taking the plan b penalty for 2 years because im not now or will I be concerned with a 35.00 dollar a month increase for the 2 years simply because I have VA with no co pays and no cost what so ever. 100% free. Prescription filled is 8.00....I have no health issues and I cannot afford to pay a plan b monthly cost right now. Also, the longer I go without taking SS which im entitled to get right now the better because if I do wait another 2 years (and take the penalty for not getting plan B) I really don't care because in two years i will be at full retirement age and all this time waiting I will be covered with VA anyway...Im going to call you though....

Thank you, I just found your podcast & I am so grateful!!!!

Thank you for these videos. They have helped me over the past year and a half.

Thank you for your straight informative instructions. Helped me determine the "disadvantages " of advantage plans.

I'm about 10 years from getting Medicare. But I had to dig into this for my brother which is 10 years older than me to try to get his insurance in order. This gentleman is one of the best and most knowledgeable person that I've had the privilege to listen to. All I can say Is , do not believe anything a federal employee tells you. They just want to get off the phone. After everything I went through and read and tried to learn and talked to several people. I was able to catch four different people not telling the truth. A friend of mine is stuck paying a permanent lifetime penalty for not applying soon enough. Someone from social security told him he can make his decision at any time and never volunteered the information it was going to cost him an extra 10% penalty based on his total premiums for the rest of his life😅

I have a policy through his agency and have been very pleased with the level of service

Very helpful information. Extremely useful and in clear language

These are the best Medicare videos!

Thank you. I’ll be 65 in a few months and I’m thankful for your videos to help me with my Medicare decisions. I am only offered a Medicare advantage plan through my previous employer, Aetna network. I’m still waiting on the documentation but feel I’m leaning more towards a plan n supplement. Are you licensed in NY?

Please reach out with any questions: medigapseminars.org/contact-us/ Did you like this video? You can find Part 2 here: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-N6_4uJ6ViV4.html

You have opened my eyes to so much with your in depth knowledge. These videos are so valuable and appreciated. The first broker we spoke with went directly to a big name advantage plan and I have now gone 180° away from them based on my, needs not his preferences. He never brought up any supplement plans. 😡

Thankyou Matthew. It is very useful

Thank you for sharing this,God Bless you.

Thank you for this information👍help me more understand about my insurance and how to choose this enrollment year

I am seeing a broker in my town and will be using your checklist and ideas. Thanks so much!

Thanks Matthew. Great information as usual. I'll be looking for Part 2.

I love your videos! I am all set for Plan N with Jordan at your agency once I receive the completed employer coverage verification form from the company (Monday I hope). Once I have that, I can submit the Part B application, and can then finally enroll in the supplement with Jordan.

Thank you for your honesty and in-depth explanation of the Medicare insurance industry.

Thank you! You just saved my Medicare Original Plan F.

I certainly did not know about the hidden cost factors that Matthew Claassen explains so clearly. I am glad to be one of his clients since 2020.

turning 65 in november 2024.trying to gain as much knowledge as i can to make the best decision possible.thanks for this information.just became a subscriber.

Thank you sir for this crucially informative video. I'll be giving your company a call after 12/7 when your phones are not ringing off the hook. As I am now in a guarantee issue period due to relocation I have a little more breathing room.

Thank you!

I enjoy your willingness to share your knowledge,l'm 65 and have been taking in your therapy for the last year.l did not,but l do now have the ability to make an informed decision, l'm not ready to set it up just yet,but when l decide to you will get a call. THANK YOU SO MUCH. RICK/ KY.

Your videos are excellent and I greatly appreciate the information that helps me to make the right decision about heath care supplements.

Good information thank you

This is the kind of info I need. The real nuts and bolts.

Although I don’t fully understand the breakdown of the inflation increase components I am now on notice to PLAN for significant premium increases in the future. That’s helpful.

Very helpful - Thank you for your time and effort.

Great information

I just started my education into Medicare today. Here is where I started and I appreciate your information. It's easy to understand and that is what I need. Thank you. I'll continue to watch

Interesting information. Not sure whether I should trust any insurance.

Very helpful and informative! Thank you!!

Thanks for all you do.

Very informative. I am in a situation where making these decisions has an acceleratedimportance due to a health issue. looking forward to part 2.

Please do more videos. Information is power and we need as much info as we can get. Thank you.

Great video! I have been researching Medicare for a while and a lot of what you said makes sense. Back in May or June I received a breakdown of all the Medicare G and N plans for my area that also had price increase history like you showed and it was interesting on how incomplete the info was. It was also interesting that quite a few companies had very few people under their plan both state wide and nationally; I would imagine that their prices would go up pretty quickly as you said. One thing that's a little disturbing is that it seems that even a "reputable" company plays games with their plan participants. I've read that one of the names out there either stopped a certain plan in a certain state or stopped selling a certain plan under one of their companies and opened the same plan under another one of their companies leaving the participants in the first struggling with higher than expected increases. Although I think this is great content to help us at the beginning of our Medicare journey, the truth is we can all be victims from any insurance company in the (near?) future. It could be an A+ company today and something changes and it becomes a horrible company down the line.

Come to think of it, I know several people with serious health issues that have recently purchased Plan G policies so that gives me pause to give serious thought to your considerations presented here. My career background is in insurance and I must say that this channel is the very best on the topic of Medicare Supplements!

Thank you this video was very informative. Helps me in making the best decision for myself.

Thank you for the information regarding plan G. In Nevada, we are allowed to switch our plan G once a year around our birthday. As long as the other plan G’s offer is similar to our current plan, we are allowed to switch without any underwriting. This allows us to somewhat control costs while not having to stay with the same insurance company plan G. I also found your discussion of percentage increases very helpful and will keep it in mind in the future.

Very helpful videos

Thank you for these seminars. I have watched every single one and have learned so much. I have now started many conversations with my retired friends and passed on my knowledge to them as well as sharing your u-tube locations for their education. I am amazed at the number of people who chose to allow their agents to make dr idioms for them. I tell people using an agent is fine but take time to educate yourself so the ultimate decision is the right one for you. I have an F plan with AARP-UHC. It is categorized as a community based pricing but I did receive an age related discount at time of signup (age 65). My increases have been on my birthday (reduced discount) and again in May. I am 72- currently paying $282 per mo with increase in January to 293 and again in May to $303. I was considering changing to a G plan but have had some major health issues so I don’t think I will pass the underwriting. I wish I had seen your seminars when I was new to Medicare.

I've learned a lot about the medicare maze that we face. Steep learning curve for us nearing 65 for sure. However, listening to your videos is very helpful and informative. My bottom line take is that it's too important an issue to trust my own skills in research and company price increases. I will absolutely work with a broker, and more than likely, your office because of your videos which has helped educate me in this process.

Your videos are always very informative. Keep them coming.

Thank you for posting this helpful video

Thank you. Very useful info.

Thank you! Eagerly awaiting part 2!

Excellent!

I so appreciate your informative videos. I’m glad that I found you a few years ago and was able to switch from a “disadvantage” plan to a Plan G. My only question is why I never hear from my Plan G insurance company about price increases. It seems to me they should be required to inform their customers of price increases during the annual enrollment.

I’ve been with Mutual of Omaha for a couple years. I’m 69 now and just got my new plan and it increased from $166.00 per month to $195.00 per month. I live in Ohio. Thanks!

Next year I plan to retire and will have to join Medicare. Your videos will help me avoid choosing a plan that I will come to regret. Apparently insurance companies benefit from confusion and love obfuscation else how can you explain the popularity of “Advantage” plans. Those who seek to deceive and benefit akways use a name indicating the exact opposite of the actual result.

Great, informative information.

This is a great video, very informative. One thing I have yet to hear from any agent and I have been wondering if useing a broker from ones own state would be better than useing a broker from the other side of the US. I am considering giving ur firm a call.

Keep the great info coming

I LOVE your videos!

The best Medicare content on RU-vid!

My long-ago decision to opt for Plan G with a LARGE insurer and stick with it seems to be paying off handsomely. Thanks for the original and ongoing advice.

Thank you for your informative videos. I’ll be turning 65 in September. I live in New York State. I hear New York is very high in medigap. Can you please tell me which is the lowest medigap plan and insurance company to use? The $174.40 a month plus the cost of medigap can be very expensive. Thank you so much!

I appreciate your straightforward approach.🙏🏻☑️ Thank you, Nicely done. Hopefully, one category (or sub category) I heard in this video will be emphasized or highlighted in your upcoming video; please discuss: Age of Entry vs Age of Attainment. I'm not expert enough to know the intel about my F-HD plan's issuing company, but felt comfortable choosing based on Age of Entry at 68 (accepted by underwriters) during last year's AEP. If I were to describe it, I might say that Age of Entry helps as a sort of compressor/limiter in terms of price increases for premiums over time. There may be no such thing as a fixed price forever but at least I'm not automatically or unnecessarily penalized for living longer.

Good info

Good video.

Very informative!

Astute Plan G observation.

Thanks excellent

Your videos are absolutely very helpful. I will wait for the Part 2 of Hidden Risks. I called your office and a rep said I don't need to do anything with my Medicare supplement, all I need to act on is My Med Part D. My current Medigap plan won't tell me my premium for 2024. Would you happen to know? Thanks.

I’m shocked about Medicare. I’m 63 and I’m actually scared of this ins. I listen to this video and I’m more confused. I’ve watched sooo many videos from all people. I think you explain the best but I’m still confused on which ins company to go to which I’m sure by the time I’m 65 all rules will change again.

Good info thanks

Interesting. I did not know that new to medicare pricing and in-force pricing are different. I did exactly what you said is not helpful. I looked at the cost of three companies plans at ages 65, 70, 75, 80, 85 and 90. I then calculated what would the average price increase per year need to be to the price to increase from the age 65 price to what was quoted at age 90. While the lowest cost plan at age 65 had the biggest per year price increase it still looked like it was the best choice since the price at 90 was still the cheapest. The three companies I looked at were the companies my agent quoted me for for Plan N, not simply the lowest in the quote engine. All three are large well known companies, Cigna, Aetna and Humana. I did notice that the price difference between age 65 and 70 was lowest for all three companies compared to other 5 year increments. They all quote lower increases at the start and increase more per year for each 5 year period. I look forward to your part 2 video to learn how I can do this analysis differently.

Like the info; so many brokers say these are all top rated companies; why not simply go with this least expensive one

Matthew - you may mention it in your video, but persons applying for MediGap coverage must have an approved Part "B" before the MediGap carrier can process the application. My wife and I are delayed in coverage because SSA didn't process our application before the MediGap company started our applications.

Very helpful

Thanks

Can you do one on Wisconsin ?

Great stuff . I have plan n, am 70, with empire Blue Cross, Anthem, for 3 years, they are raising my premium from $185 to $210 on Jan 1. That's 14%. Seems like an increase that doesn't sound right, too much. Should I be shopping for another company? Humana wants $320 for a plan n with their company. I'm starting to wonder about all these Medicare plans . Seems like although they cannot change the coverage with a supplement plan across the companies, they certainly appear to be able to change the premiums. Still 14% seems steep. Btw, I'm in new york 20:55 20:55

Mr. Classen,which company to select for plan G.Does the state where you live affect the price?Which one has higher premium,Illinois. Or Texas?Thank you and God Bless you,you a very good person.

Getting ready to sign up for a 1A plan in Massachusetts. It's more than confusing trying to decide what insurance company to go with after watching this video (I've been subscribed for a while) I don't seem to be able to find useful information on companies star ratings or rate increases to help me to make an informed decision

Great video, thanks. I've watched this and others. I'll be reaching out next summer for quotes. I am in PA - if I have Plan G or N and switch carrier, do I have to get underwriting? Also, what are the best companies to use in terms of long-term control of premiums and overall best rating?

Thank you so much! I've got Medicare Plan F with Medigap. I think United Healthcare is charging me too much for my supplemental policy (around $300!) and am exploring the option of changing companies for a cheaper rate, long as it doesn't subject me to health questions. My health is good for a 73 year old; the only condition I have is an underactive thyroid, for which I take Armor, and I have no other medications. But I'd still like to avoid underwriting if at all possible. I'll be watching your Part Two video and keeping these links.

What is guarantee issue ?

Thank you for your useful videos. I have 2 cancers and will turn 65 in 2024 so I’ll need top notch guidance to make my decision about which part G and part D to choose. I’ve already done enough research to realize that Advantage plans are wrong for me and that a G plan is best. I’m kind of thinking that I might be better off spending a bit more for a Blue Cross plan. When is the time to contract with an agent since my birthday is in June?

Love your videos, have watched many of them. Will make an appt for a phone consultation in the near future. One question: should a change of employers, thus requiring an immediate need to enroll in Medicare and choose a supplement plan (I'm 66 and currently covered by my qualified employer health coverage plan) be much of a problem? Im seriously considering changing employers and that wouldn't allow me the 3 month "suggested" advance planning option. Thank you!

What is plan F

Great video loaded with important to know information. It is a shame how insurance companies are ripping off the american people. Not a fan of insurance companies and could care less when they go under. That being said it is the system we have. Why cant a person on forced to go on medicare get a policy with a decent blanket of coverage with a modest yearly price increase. Is that to much to ask for? What a bunch of crooks we have in this country.

Thank you for the valuable information. If I want to change medigap insurance company later year, do I have to go through underwriting? And if i want to change medigap plans later, do I go through underwriting?

Most people I know never listen to utube and really learn about this. How did they all figure this out. So confusing. So much money to lose.

I am so grateful to live in a state that has annial guaranteed rights whereas I can shop for the lowest price yearly without medical underwriting as long as I stay in the same, or less, category of supplemental plans.

The part 2 link doesn’t work.

Trying to help my parents choose a supplemental plan/prescription plan. I’m so lost. What do you recommend for California? Thank you so much .