Supplement Medicare plan questions

[Texas Proud]

I logged in but cannot do anything right now.


"Try again later
We can't process your request right now due to a technical issue."

It is working now... just paid my premium..


I was also locked out yesterday..

 

[stedmakr]

I read the valuepenguin's MOO review.



Surprise! When you follow to their linked article, AARP UHC is the first on the list for top rated Supplement. If one removes the healthcare option from the traditional AARP plans, they have even lower premiums. There are a lot of fine details that simple review articles do not mention. The difference between male and female plan prices, multi-insured discounts, etc. AARP has different age discounts between their standard(traditional) Plan G and their newer no frills Plan G. I'm sure that some other insurers have similar fine details that are not mentioned in the typical internet reviews.

My point is to first figure out the Plan you want. Create a short list of supplement providers that are well-reviewed. Then go thru the process of getting a real quote from them all and compare how their prices typically increase for various aged insured. Never select an insurer based solely on the age 65 price. Based on various states and even locations within a given state, MOO may be a good fit. They still are not a top-rated company by valuepenguin (and many here).

Of course, if one lives in a state that allows freedom of changing insurers & plans (both up and down) annually without underwriting, your risk of being locked to a company & Plan is very low and can be rectified in short order.

From the Valuepenguin home page:

Advertiser Disclosure: Some of the offers that appear on this website are from companies which ValuePenguin receives compensation. This compensation may impact how and where offers appear on this site (including, for example, the order in which they appear).

So companies pay ValuePenguin for a review. In my mind this makes the ratings meaningless.

 

[Davidhelp]

Maintenance is going on

I logged in and started a Chat. Here is what I was told:
[12:11:57 pm]: BreannThe system is being updated for maintenance. Contact 1-800-MEDICARE again on July 17 after 6:00 a.m., eastern time.


Try again later
We can't process your request right now due to a technical issue.

It is working now... just paid my premium..


I was also locked out yesterday..

 

[Davidhelp]

Received this email today from Boomer Benefits:
This is your annual reminder about the Medicare Annual Election Period (AEP): October 15th through December 7th.

Please mark your calendar for the Boomer Benefits Client AEP Request Deadline: November 22, 2023 at 11:59pm Central Through our Client Portal you can submit a request to:

• Change from one Medicare Advantage plan to another.
• Change from one Part D plan to another.
• Switch from a Medicare Supplement plan to a Medicare Advantage plan.
• Switch from a Medicare Advantage plan to a Medicare Supplement plan.

You do not need to:

• Change your Medicare Supplement policy to another Supplement policy during the AEP.
  
  PLEASE NOTE: Boomer Benefits begins taking Client Annual Election Period Requests on October 1st.

 

[stedmakr]

There continues to be a lot of discussion about closing the books and the sick duck pool I don't doubt that both exist, but as much as has been written about Medicare I have yet to find an article that talks about this Medigap issue. It would be nice to have something other than anecdotal evidence. Please post or link if you have read anything written in a non-blog or website forum about this issue.

Claims history is one of the valid factors that an insurance compay uses to determine the premiums it charges.

As l understand the "closing the books process (from what I have read in this forum) a Medigap provider sells a policy to individuals that make up a cohort. After a few years and the cohort ages the policy is closed to new enrollees. Now there are two policies, the new policy is for a younger/healthier cohort and costs less than the older cohort (theoretically less healthy) that wil pay a higher premium. This process could continue until an indivdual can't afford the higher rate and switches to an Advantage plan. By raising rates that effectively push indiviuals out of Medigap policies the insurance company has less potential liability (future expensive claims).

I guess the insurance company could argue that it is matching its premiums with their associated risk.

Am I missing something?

 

[REWahoo]

There continues to be a lot of discussion about closing the books and the sick duck pool I don't doubt that both exist, but as much as has been written about Medicare I have yet to find an article that talks about this Medigap issue. It would be nice to have something other than anecdotal evidence. Please post or link if you have read anything written in a non-blog or website forum about this issue.

I'm not aware of any article about this issue, but here is a link to a "Senior Insurance Forum" where independent insurance agents who sell Medigap are commenting on MoO's practice of this 'close the book' strategy (see posts #5 and #7). https://insurance-forums.com/community/threads/mutual-of-omaha-rate-increase-hits-10.82352/

Also, here is a video where it is briefly discussed starting around the 6:50 mark:

 

[DuluthGA]

Anyone have experience with employer sponsored plans? My wife is teacher retiree and state only offers advantage plans. Plan looks similar to other (ie AARP UHC) plans and zero cost. You have to sign up when Medicare eligible or lose the benefit. Not sure how to tell if it’s really a benefit or how much of a benefit?

 

[Dash man]

Anyone have experience with employer sponsored plans? My wife is teacher retiree and state only offers advantage plans. Plan looks similar to other (ie AARP UHC) plans and zero cost. You have to sign up when Medicare eligible or lose the benefit. Not sure how to tell if it’s really a benefit or how much of a benefit?

My DFIL has a union plan and my son’s MIL has a state plan. Both are Advantage Plans and have been good for them. They still have to go through getting insurance company approval, but ultimately get it.

 

[CardsFan]

Anyone have experience with employer sponsored plans? My wife is teacher retiree and state only offers advantage plans. Plan looks similar to other (ie AARP UHC) plans and zero cost. You have to sign up when Medicare eligible or lose the benefit. Not sure how to tell if it’s really a benefit or how much of a benefit?

There are a few retired teachers here, so they could respond with more info.

What I have seen with friends is that the teacher retirement advantage plans tend to be as good as, or superior to, the best advantage plans out there. They can have much larger pools of providers, and may even have good out of area coverage.

While I am not a fan of most advantage plans, I would definitely check it out. At FREE, you can absorb a lot of co-pays, etc. and still come out ahead.

 

[Texas Proud]

Anyone have experience with employer sponsored plans? My wife is teacher retiree and state only offers advantage plans. Plan looks similar to other (ie AARP UHC) plans and zero cost. You have to sign up when Medicare eligible or lose the benefit. Not sure how to tell if it’s really a benefit or how much of a benefit?

I think it matters in what state... my sister in Texas in on the state plan and they went Advantage a few years back... but it is a pretty good Advantage plan..


She has called some Drs and asked it they took Humana (I think that is the company managing it) and they say "No" until she tells them she is on the state plan and then it is "yes'... now, not all Docs, but a few...


She has to pay a premium to the state... but low deductible...

 

[MBSC]

There continues to be a lot of discussion about closing the books and the sick duck pool I don't doubt that both exist, but as much as has been written about Medicare I have yet to find an article that talks about this Medigap issue.

That's why it is also important to know a company's rate history. Some companies will close a book of business and start a new company to try to get fresh enrollees in their plans. The problem is that those old plans will still have people stuck in them and those rates will go up, up over time. We have seen which companies pulled this questionable practice and can help you avoid getting caught in their trap...

Reference: https://expertmedicare.com/best-medigap-plans/

Sometimes a well-known insurance company that has been around for ages will launch a new book of business. It will be offered to the public at low introductory rates. When this happens, the rates may or may not stay low based on the losses suffered by the carrier in the first few years. So the claims incurred by the insurance company also matter.

Reference: https://boomerbenefits.com/medicare-supplement-rate-increase-trends/

This last tip is a little harder to track, but again, if you’ve got that trusted broker in your back pocket, it’ll be a lot easier. You want to avoid companies that often open and close business under new names. The carrier could be large and financially stable, but getting stuck in a closed book of business usually means you’ll experience higher premium increases.

Reference: https://gmedicareteam.com/about-medicare/howtochoosemedigap/

Does A Companies Medicare Supplement Rate Increase History Matter?

Medicare Supplement markets are interesting. Companies enter and exit the market annually. Furthermore, some companies stop writing under one name and create a new insurance company to write under, like Mutual of Omaha.

Every time a new company is created, the rate history changes.

The only time that Medicare Supplement rate increase history should be considered is when the company has been in the market less than four years.

Reference: https://travisprice.com/medicare-supplement-rate-history/

There are many articles about looking at rate history when choosing a Medigap. Most focus on percentage but the ones written by Medigap experts mention avoiding carriers with a short history. They are either new to the state and don't have enough claims experience to properly set rates in that state or a MOO/Aetna/Cigna subsidiary.

MOO started using 'Omaha Insurance Company' in Illinois in May 2021. Their open book rate increase effective 5/1/23 is Plan G 4%, Plan N 0%.

https://blogs.mutualofomaha.com/express/files/2023/04/4.12.23-May-Rate-Release_GA-IA-IL-ND-NV.pdf

United World Insurance Company (closed book) Illinois rate increase effective 3/1/23 is Plan G 15%, Plan N 15%.

https://blogs.mutualofomaha.com/express/files/2023/01/1.4.23-Modernized-Rate-Adjustment_IL-NV-WV.pdf

 

[RetMD21]

Anyone have experience with employer sponsored plans? My wife is teacher retiree and state only offers advantage plans. Plan looks similar to other (ie AARP UHC) plans and zero cost. You have to sign up when Medicare eligible or lose the benefit. Not sure how to tell if it’s really a benefit or how much of a benefit?

MIL is one one of these in Michigan and it has been fine. It think there is a substantial subsidy so going with a different advantage plan or even a supplement would have cost more making it an easy choice

 

[teej1985]

I believe value penguin is an independent review of original Medicare policies. I suggest reading the entire review.

https://www.valuepenguin.com/mutual-of-omaha-medicare-supplement-review

"Mutual of Omaha Medicare Supplement insurance is competitively priced. When compared to providers like Cigna, AARP/UnitedHealthcare and BlueCross BlueShield, Mutual of Omaha has midrange prices for plans A, G and N. If you’re eligible for Plan F, Mutual of Omaha is one of the cheapest providers.

Monthly cost of Mutual of Omaha Medigap plans
In states where age cannot be used to determine rates, residents can expect more stable pricing. At age 65, overall prices across the industry will be higher than what's available in other states, but the regulations protect against the shock of large annual price increases. Prices may still fluctuate based on inflation or industry changes.

Costs in states where age affects price
In these states, Mutual of Omaha offers some of the cheapest plans available and has slower price increases than other providers.

It’s common for Mutual of Omaha’s Medigap policyholders to complain about rising costs. But this issue exists across all Medigap providers in states where it's legal to use age to determine prices.

Mutual of Omaha plan
Age 65
Age 75
Age 85
Age 95
Plan A $111 $131 $203 $260
Plan F - $169 $256 $328
Plan G $111 $132 $205 $262
Plan N $85 $105 $162 $207
High-Deductible Plan G $40 $49 $71 $88
Sample monthly quotes for a female nonsmoker in Dallas, Chicago and Charlotte, N.C.

When compared to other providers, Mutual of Omaha is the cheapest company for Plan G across all age brackets. This consistently low pricing is a rare advantage. In contrast, we see BlueCross BlueShield offering good rates for those aged 65 and then becoming the most expensive insurer for those aged 85.

Medicare cost increases from Mutual of Omaha Medigap
Mutual of Omaha Medigap prices usually increase between 2% and 3% for each year of age. These increases add up, and those aged 85 may pay twice as much as a 65-year-old. Rate changes can vary, and those with other risk factors may see bigger increases.

Even though age-based price increases are unavoidable in these states, how quickly rates rise will affect your total lifetime costs. We recommend requesting multiple price quotes for different ages so you can see how your costs may change.

There's nothing independent about ValuePenguin. Click the big Get Quotes now button and they will earn a commission on your purchase.

 

[Pluperfect]

We have HD Plan G for $49/mo, it includes unlimited gym memberships free. YMCA and 24 hour fitness are local and we have free memberships, there are others we could pile on at no cost.

What company? And is there a name for the gym membership plan they have?

I have an AARP/UHC Plan G + Wellness Benefits that includes its Renew Active program, which offers free gym memberships. I would have considered a High-Deductible Plan G, but AARP/UHC doesn't offer one in Texas, and I thought AARP/UHC was the only company that offers gym memberships with its supplements (not Medicare Advantage).

What other company should I be looking at?

 

[teej1985]

What company? And is there a name for the gym membership plan they have?

I have an AARP/UHC Plan G + Wellness Benefits that includes its Renew Active program, which offers free gym memberships. I would have considered a High-Deductible Plan G, but AARP/UHC doesn't offer one in Texas, and I thought AARP/UHC was the only company that offers gym memberships with its supplements (not Medicare Advantage).

What other company should I be looking at?

AARP/UHC doesn't have HD plans in any state.

United American (owned by Globe Life, but sold by independent agent) and Globe Life (can buy direct from their website) typically are the go-to's for HD G.

I'm not aware of an HD plan to comes with gym memberships, but UHC is certainly not the only Medigap insurer that includes it. My parents get silver sneakers from Blue Shield in California.

 

[Pluperfect]

Also, the videos downplay community policies. They say they are uncommon and twice the price. I would be very surprised if the "guide" at medicare school even mentions AARP/UHC, based on the content of the videos I watched. So much for unbiased help. Or maybe I'm missing something. Hard to tell without calling in and seeing what they recommend.

The thing is, AARP/UHC doesn't actually have community-rated pricing, except for people above something like 80 years old (depending on the policy), who do all pay the same regardless of how many years past the cut-off age they are. Nobody below the cut-off age pays that amount, but instead a percentage of that amount, based on their age. That makes these policies operate exactly like an attained-age policy for people below the cut-off age. Frankly, I don't know how they get away with it.

If you want to see what community-rated pricing looks like, look up quotes for Arkansas or Maine. I did, at senior65.com, and the premium for a 65-year-old woman is exactly the same as the premium for a 75-year-old woman for every Plan G policy offered. That's because Arkansas and Maine are among the states that require all supplements to be community-rated.

Do the same thing for a state that doesn't require community-rated pricing, and you'll get different premiums for a 65-year-old woman and a 75-year-old woman, even with community-rated AARP/UHC policies (identified as "top insurance provider" at senior65.com). But, interestingly, in states that allow only community-rated policies to be sold, AARP/UHC actually does have the same premium for a 65-year-old woman and a 75-year-old woman.

In my research, I don't recall running across any actual community-rated policies in Texas--policies where everybody with that policy pays the same regardless of age. I'd actually be interested in a location where people can choose an attained-age policy OR a community-rated policy, to see what the premiums are for people of different ages. But I haven't run across any such places.

 

[Rianne]

This discussion is based on personal experience. Yes, I've read all the links including the broker link about MoO. I've yet to get an answer to the questions I posed long ago. IMO it is easy to post links, complain, and discuss your personal experience. There is no link, anywhere, that gives this information online based on specific companies. From what I understand, the state you live in makes a big difference.

What Medigap insurance company do you have?
What premium did you pay at age 65?
What premium are you paying now?

 

[Happyras]

What company? And is there a name for the gym membership plan they have?

I have an AARP/UHC Plan G + Wellness Benefits that includes its Renew Active program, which offers free gym memberships. I would have considered a High-Deductible Plan G, but AARP/UHC doesn't offer one in Texas, and I thought AARP/UHC was the only company that offers gym memberships with its supplements (not Medicare Advantage).

What other company should I be looking at?

We live in WA, and Premera Blue Cross offers the HD G plan for $49 community pricing. They offer Silver and Fit for their gym free memberships. I know Regence Blue Shield also offers this with their medigap plans. Silverandfit.com

 

[stedmakr]

This discussion is based on personal experience. Yes, I've read all the links including the broker link about MoO. I've yet to get an answer to the questions I posed long ago. IMO it is easy to post links, complain, and discuss your personal experience. There is no link, anywhere, that gives this information online based on specific companies. From what I understand, the state you live in makes a big difference.

What Medigap insurance company do you have?
What premium did you pay at age 65?
What premium are you paying now?

For Riianne,

From an earlier email you indicated that you are from Illinois. Please go to the URL below, it is from a state web site.

https://ilaging.illinois.gov/search-results.html?q=supplement&contentType=everything

The URL leads to a page that has three PDFs, one for the Chicago area, one for north Illinois and the final PDF is for south Illinois. These PDFs were prepared by an organization called SHIP which is funded by the federal government. They PDFs provide state specific information for Medicare issues. The PDFs also identify the costs for policy premiums for the insurance companies that sell policies in Illinois.

If this information does not address your concerns you can call the SHIP phone number in the PDF and speak with a representative (typically a volunteer) that should be able to assist you.

 

[stedmakr]

There are many articles about looking at rate history when choosing a Medigap. Most focus on percentage but the ones written by Medigap experts mention avoiding carriers with a short history. They are either new to the state and don't have enough claims experience to properly set rates in that state or a MOO/Aetna/Cigna subsidiary.

MOO started using 'Omaha Insurance Company' in Illinois in May 2021. Their open book rate increase effective 5/1/23 is Plan G 4%, Plan N 0%.

https://blogs.mutualofomaha.com/express/files/2023/04/4.12.23-May-Rate-Release_GA-IA-IL-ND-NV.pdf

United World Insurance Company (closed book) Illinois rate increase effective 3/1/23 is Plan G 15%, Plan N 15%.

https://blogs.mutualofomaha.com/express/files/2023/01/1.4.23-Modernized-Rate-Adjustment_IL-NV-WV.pdf

For MBSC:
Thanks for responding to my eariler post(s). I am a volunteer SHIP (Medicare) counselor. In addition to addressing Medicare issues with beneficiaries, counselors provide "New to Medicare" briefs. I've given at least 40 of these briefs in the last year. The most important and time sensitive decision a person new to Medicare has to make is to decide which path he/she will take, Orignial Medicare with a supplement and a drug plan vs an Advantage plan.

Part of the analysis is cost. In Florida (my residence) the least expensive Part G plan for a non-smoking female in my part of the state is currently $166 per month or close to $2000 per year. When I brief this I can layout the costs for the Part B premium, Medigap costs and using Planfinder the prescription drug costs with a fair level of precision. Since each Advantage plan has its own cost structure it is harder to compare costs between plans.

A year and a half ago a beneficiary came in and showed me a letter from the insurance company that is most referenced in this chain stating that his premium was going to increase to $340. This was the second year in a row that he received outsized premium increases. We called the insurer and were told that the premium was correct. The premium was higher than the published premium on the state web site. We were told that new client premiums were not the same as existing customer premiums. Florida is an issue-age state.

I don't know for sure why the premium jumped two years in a row. My best guess is that it jumped the first year because he had moved to Florida. From what I have read on this and other forums our supplement costs are higher than in many other states. I had no idea why the premium jumped again in the second year until I read about "closing the book" and creating a separate risk pool in the sticky thread at the beginning of this forum.

I'm torn about laying out the costs for a policy to a beneficiary if an insurance company can increase costs at rates much higher than inflation. I have had the unpleasant experience of helping a beneficiary cancel a supplement policy because they can't afford it anymore and then enroll the beneficiary in a no premium Advantage Plan.

It would be valuable to know which companies "close the book" and which companies are the worst.

As a counselor I can not recommend which path a beneficiary takes or recommend an insurance company or policy.

Again, thanks for the information you provided in your earlier posts.

 

[harllee]

This discussion is based on personal experience. Yes, I've read all the links including the broker link about MoO. I've yet to get an answer to the questions I posed long ago. IMO it is easy to post links, complain, and discuss your personal experience. There is no link, anywhere, that gives this information online based on specific companies. From what I understand, the state you live in makes a big difference.

What Medigap insurance company do you have?
What premium did you pay at age 65?
What premium are you paying now?

I have already answered this question but will do so again:

I live in NC. My husband and I started with Mutual of Omaha Plan G at age 65, our premiums started at $100 per month each. From age 65 to 69 we had modest premium increases and at age 69 our premium was around $150 per month. At age 70 we got notice from Mutual of Omaha that our premium was increasing to $225 a month. At that time I was able to change to AARP UHC Plan G and my premium went down to $120 per month. My DH could not change companies due to a preexisting health condition. Now, at age 72 my premium with AARP UHC is now $135 per month. MY DH's premium with Mutual Of Omaha has recently increased to $385 per month.

We are looking at alternatives for DH because we believe his premium will become unaffordable with Mutual Of Omaha.

 

[Sunset]

Anyone have experience with employer sponsored plans? My wife is teacher retiree and state only offers advantage plans. Plan looks similar to other (ie AARP UHC) plans and zero cost. You have to sign up when Medicare eligible or lose the benefit. Not sure how to tell if it’s really a benefit or how much of a benefit?

We have something similar now:

My DW got from her employer some money via a website set up that we could pick our health care from.
At first it was called AON, then within a year it changed to ALight.

The company would deposit with ALight the money and we could send in claims to Alight and they would send us "our" money.

Now, we have been informed, the company is no longer going to provide the money. Instead they will offer a Medicare Advantage Plan to us for free. This might be great for some folks, but I prefer the supplemental plan G that we originally picked.

So we prefer to pay $1,140 each instead of getting a free plan.

The company guarantees (plans) to offer the Medicare Advantage Plan for 5 years, after that it's anybodies guess. I guess they will cancel that as well.

Basically we are going to miss out on a few thousand dollars per year with our choice, but don't want to be trapped into a horrible Advantage plan later when we cannot pass medical testing.

 

[MBSC]

It would be valuable to know which companies "close the book" and which companies are the worst.

As a counselor I can not recommend which path a beneficiary takes or recommend an insurance company or policy.

Mutual of Omaha is the most aggressive at rotating companies. Aetna and Cigna are also known to do this but less frequently. In Florida, MOO changed from 'Omaha Insurance Co' to 'United World' in March 2022. Aetna does not sell Medigaps in FL. Cigna has been in FL 7 years but only has 3 years of rate history. Research indicates they changed to the CHLIC subsidiary in April 2020.

On April 13th [2020], you can begin to sell our new Medicare supplement plans insured by Cigna Health and Life Insurance Company (CHLIC) in Florida!...American Retirement Life Insurance Company (ARLIC) Medicare supplement will no longer be available for sale in Florida as of April 30th.

[Posted] March 31, 2020

Reference: https://pfsinsurance.com/news/cigna-medsupp-fl

We are pleased to announce you can begin selling our new competitively priced Medicare supplement plans in Florida. Plans A, F, G, High Deductible G and N are available for sale effective March 17, 2022.

The United World supplement application will be available on the e-App March 17, 2022. Omaha Insurance Company applications signed by April 17, 2022 and received in the home office on or before May 10, will be processed and provided prior coverage. Old company applications with a signed date of April 18, 2022 and later will not be processed. No exceptions will be made. A new application would be required to apply for coverage.

Reference: https://blogs.mutualofomaha.com/express/index.php/2022/02/28/43247/

United World's open book in FL will have a 4% increase effective 8/1/23.

https://blogs.mutualofomaha.com/exp...d-New-and-In-Force-Rate-Adjustments_CT-FL.pdf

Omaha Insurance (closed book) had a 6% increase effective 4/1/23.

https://blogs.mutualofomaha.com/exp...3-Modernized-In-Force-Rate-Adjustments_FL.pdf

 

[Rianne]

For Riianne,

From an earlier email you indicated that you are from Illinois. Please go to the URL below, it is from a state web site.

https://ilaging.illinois.gov/search-results.html?q=supplement&contentType=everything

The URL leads to a page that has three PDFs, one for the Chicago area, one for north Illinois and the final PDF is for south Illinois. These PDFs were prepared by an organization called SHIP which is funded by the federal government. They PDFs provide state specific information for Medicare issues. The PDFs also identify the costs for policy premiums for the insurance companies that sell policies in Illinois.

If this information does not address your concerns you can call the SHIP phone number in the PDF and speak with a representative (typically a volunteer) that should be able to assist you.

Wow! Thank you. That is very specific information for IL and all the insurance companies yearly premiums and how they go up over time to 85 yrs. old. This is what I've been looking for. Awesome. MoO is right in line with all other insurance co. many, even better.

 

[teej1985]

Wow! Thank you. That is very specific information for IL and all the insurance companies yearly premiums and how they go up over time to 85 yrs. old. This is what I've been looking for. Awesome. MoO is right in line with all other insurance co. many, even better.

Why do you want to ignore the shenanigans that MoO partakes in?

The costs for an 85 year old today isn't going to be what you pay when you are 85, particularly for MoO due to their shenanigans.