Telly
Thinks s/he gets paid by the post
- Joined
- Feb 22, 2003
- Messages
- 2,395
Well, crap. I don't like hearing this AFTER I am rolling along with Plan G!
This is a Chris Westfall video dated September of 2018, with only 8,989 views. IF I would have found it when it first came out, maybe my choice of letter Plan would have been different. Maybe.
But I don't really understand the thrust of why Plan G would have a greater rate of premium increase over time vs. Plan N for the reasons he listed, which were:
On 1/1/2020, the pointer for "Guaranteed Issue" moves over from Plan F to G. This is not a Medicare newby Initial Enrollment @ age 65 issue. He says that "Guaranteed Issue" is the requirement for plan insurers to accept people age 65 and older who: Are losing their employer coverage (I assume retire/quit/fired/laid off), or are losing their MA plan (and I guess want to come back to Original Medicare?), or losing other individual coverage (I'm not sure what THAT would be?).
That these "Guaranteed Issue" folks tend to be sicker, and are a big ?? for insurers going into the future, versus the Initial Enrollment @ 65 newbies. I'm not grasping WHY these G.I. folks would be sicker. If it is because they are a bit OLDER, well, the newbies @ 65 will age too, and have been aging after their Initial Enrollment period! So their characteristics as a group are known already. Why would the "Guarantee Issue" folks be so much "worse"? That I don't get.
About Plan N, I know REW is having good luck with it, and has gone over it well here. But I live in a booming higher medical cost part of the same state, and I don't know what impact not having coverage for "excess charges" would have in my area.
The video is 24 minutes long and moves along quickly. At least watch it till minute 15 or so to see what the seminar host, Westfall, and reps from MoO and Aetna have to say about N vs. G future rate increases.
I really would like others take on this "Guaranteed Issue" albatross.
This is a Chris Westfall video dated September of 2018, with only 8,989 views. IF I would have found it when it first came out, maybe my choice of letter Plan would have been different. Maybe.
But I don't really understand the thrust of why Plan G would have a greater rate of premium increase over time vs. Plan N for the reasons he listed, which were:
On 1/1/2020, the pointer for "Guaranteed Issue" moves over from Plan F to G. This is not a Medicare newby Initial Enrollment @ age 65 issue. He says that "Guaranteed Issue" is the requirement for plan insurers to accept people age 65 and older who: Are losing their employer coverage (I assume retire/quit/fired/laid off), or are losing their MA plan (and I guess want to come back to Original Medicare?), or losing other individual coverage (I'm not sure what THAT would be?).
That these "Guaranteed Issue" folks tend to be sicker, and are a big ?? for insurers going into the future, versus the Initial Enrollment @ 65 newbies. I'm not grasping WHY these G.I. folks would be sicker. If it is because they are a bit OLDER, well, the newbies @ 65 will age too, and have been aging after their Initial Enrollment period! So their characteristics as a group are known already. Why would the "Guarantee Issue" folks be so much "worse"? That I don't get.
About Plan N, I know REW is having good luck with it, and has gone over it well here. But I live in a booming higher medical cost part of the same state, and I don't know what impact not having coverage for "excess charges" would have in my area.
The video is 24 minutes long and moves along quickly. At least watch it till minute 15 or so to see what the seminar host, Westfall, and reps from MoO and Aetna have to say about N vs. G future rate increases.
I really would like others take on this "Guaranteed Issue" albatross.
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