PLAN G premium increase

[wmc1000]

DW is coming up on her second annual renewal on her Aetna Plan G supplement. Last year the increase was 8% and I thought that was fairly reasonable as we have an attained age policy. Just received her notice of the increase starting 10/01/19 and it is just over 16%!

While it is not a huge dollar increase, (approximately and extra $15 per mo.), I was a bit shocked that it was such a large percentage increase.

Are others that have a Plan G supplement seeing similar increases or is this an outlier?

I called BoomerBenefits as we signed up through them originally and the customer support team is having their Indiana licensed team member get back with us next week to provide us with options. Will have to decide if there are enough potential savings to go through medical underwriting.

 

[Ian S]

My AARP Plan G premium went up 4% as of this month.

 

[nwsteve]

Got ya beat--Cigna Plan G 147 t0 181/mon. 23% bump. Problem is they are still one of the lowest in WA state. I have found State Farm writes Medigap and it is currently listing 160/mon so that is likely a change we will do this month.

 

[omni550]

DW is coming up on her second annual renewal on her Aetna Plan G supplement. Last year the increase was 8% and I thought that was fairly reasonable as we have an attained age policy. Just received her notice of the increase starting 10/01/19 and it is just over 16%!

While it is not a huge dollar increase, (approximately and extra $15 per mo.), I was a bit shocked that it was such a large percentage increase.

Are others that have a Plan G supplement seeing similar increases or is this an outlier?

I called BoomerBenefits as we signed up through them originally and the customer support team is having their Indiana licensed team member get back with us next week to provide us with options. Will have to decide if there are enough potential savings to go through medical underwriting.

I, too, am on Aetna Plan G and was informed a few days ago that my premiums will increase by 16.5%.

I started a thread on this a few days ago that you might find of interest.
http://www.early-retirement.org/for...uggested-ipo-popular-plans-f-and-g-99663.html

omni

 

[NoMoreJob]

My Plan G has gone up around $6 per year for the last two years (the only years that I've had it) which amounts to about 4% per year.

 

[Likes_to_Lurk]

My AARP/UHC plan G premium will have a 0% increase next year. I am in NYC. Woohoo!

 

[wmc1000]

Talked with Boomerbenefits.com customer service and have a time tomorrow to apply with Western United Life, (a subsidiary of Manhattan Life), for their plan G. Since we are both relatively healthy the underwriting shouldn't be much of an issue.

After figuring that my policy will also get a 16%+ increase next may we will both apply to change effective October 1st. DW premium will be $88/mo. and mine will be $100/mo. Total premium savings will be about $500 a year total for both of us.

 

[REWahoo]

DW premium will be $88/mo. and mine will be $100/mo. Total premium savings will be about $500 a year total for both of us.

Those are some excellent rates. Hope all goes well with the underwriting folks.

 

[trumpeting_angel]

After reading the thread (mentioned by omni above) about Plans G and N, I contacted my Boomer Benefits rep. She said that the Guaranteed Issue issue (hah) was nothing to worry about, that it applied to a very small population. She said the potential downside for unanticipated spending on Plan N was much higher.


I've been on Medicare for two months now, and I was hospitalized last week with sepsis due to anaplasmosis, a tick-borne disease. Scary, especially when your fever shoots up from 99.8 to 103 in a half-hour! Or when the morphine is delayed and you're writhing in pain. You know what would have made it worse? Co-payments and potential bullsh** about what tests or procedures were ordered. I'm going to like Plan G.


I've rambled off topic. I suppose I might revisit when I have to renew.

 

[ejman]

Just got notice from Mutual of Omaha that my plan in Oregon is going up by 8.5%. Called around to get quotes and it turns out that it is still the cheapest plan G available for me. Still, that's a pretty step increase. 8.5% goes parabolic to damn soon!

 

[nwsteve]

Anyone with experience using State Farm for Medigap policy? They are the least expensive in our state but not sure about their claim processing.
I have also discovered they handle Medigap like their auto/home policies--if you use monthly payments you get surcharged for the billing. For example, even when you use quarterly you end up paying 4% more than a straight annual equivalent; semi-annual is only 1% extra over annual equivalent.
Also, unlike previous changes between insurers, State Farm does nada about coordinating the change-over between providers. Still State Farm's premium is $18-21/mon (approx. $500/yr total savings for both of us) less than our prior provider, Cigna who is charging 23% more than last year.

 

[MBSC]

Anyone with experience using State Farm for Medigap policy? They are the least expensive in our state but not sure about their claim processing.

Supplements are required to pay their portion of Medicare covered servcies and usually do so within 10 business days so customer service and claim processing issues are highly unusual. You just want to choose the Medigap plan letter that fits your needs.

Every Medigap insurer occasionally has issues getting the premium bank draft set up for a new customer, but once that is resolved they are all pretty much equal since the coverage decisions were already made by Medicare.

This question is a little tricky to answer, as the best supplemental insurance with Medicare is really whichever plan has the lowest rate and the lowest rate increase history in your area.

After all, benefits are standardized so that the benefits for each plan letter are the same from company to company. Medicare supplement companies also pay your bills like clockwork because Medicare is the decision maker, so we never hear that any of them have slow-pay issues like the Medicare Advantage plans often do.

Reference: https://boomerbenefits.com/top-10-medicare-supplement-companies/

Every carrier pays their portion of Medicare approved claims, usually in 3 to 5 business days.

Reference: https://www.georgia-medicareplans.com/turning-65-learn-medicare-options/

 

[wmc1000]

Talked with Boomerbenefits.com customer service and have a time tomorrow to apply with Western United Life, (a subsidiary of Manhattan Life), for their plan G. Since we are both relatively healthy the underwriting shouldn't be much of an issue.

After figuring that my policy will also get a 16%+ increase next may we will both apply to change effective October 1st. DW premium will be $88/mo. and mine will be $100/mo. Total premium savings will be about $500 a year total for both of us.

Thought I would post follow-up. After application DW had a phone interview with underwriter from Western United Life who wanted her to check with doctor on whether she was considered pre-diabetic or diabetic since she has been on metformin for many years.

Sent message to Dr. who stated her records showed that based on blood tests, DW is a diabetic and has been for many years. This predates her current Doc and DW's previous Doc at one time had said she was pre-diabetic and DW doesn't ever remember him saying anything else. Anyway, she called underwriter back and gave her the info Doc gave DW.

Yesterday BoomerBenefits client concierge called us to say we were both approved by Western United, and coverage would start effective Oct. 1st. She also called our current Plan G provider, Aetna, and while we were on the phone conferenced us all together so we could confirm termination with them as of Oct. 1st.

Overall a significant decrease in annual cost for our 2 plan G supplements and another great interaction using BoomerBenefits for our Medicare supplement agent.

 

[REWahoo]

Yesterday BoomerBenefits client concierge called us to say we were both approved by Western United, and coverage would start effective Oct. 1st.....

Overall a significant decrease in annual cost for our 2 plan G supplements and another great interaction using BoomerBenefits for our Medicare supplement agent.

Congratulations on successfully navigating the underwriting minefield.