NC Plan N carriers and rate increases?

[spirit4earth]

I’m going to sign up for Plan N in North Carolina. I’m looking at AARP, Aetna, and Humana. I like Aetna because it’s the cheapest ($76), but is that a lure and they’ll really raise the price a lot later? Can anyone talk about their rate increases with these companies? Any other info will be greatly appreciated!

 

[Dash man]

I can’t speak specifically for NC, but I have Plan N with AARP/UHC and am very pleased. I’m on my third year and increase are negligible in PA. Others I know that have had it longer only have good things to say.

 

[troutnut1]

We have plan n through Aetna and they have been awesome. Got the first increase in 5 years when we turned 70 which was expected and reasonable. Claims handling has been perfect in first 5 years and we have had lots of med bills paid.

 

[spirit4earth]

I can’t speak specifically for NC, but I have Plan N with AARP/UHC and am very pleased. I’m on my third year and increase are negligible in PA. Others I know that have had it longer only have good things to say.

Nice! It’s really hard to know what to do!

 

[spirit4earth]

We have plan n through Aetna and they have been awesome. Got the first increase in 5 years when we turned 70 which was expected and reasonable. Claims handling has been perfect in first 5 years and we have had lots of med bills paid.

I guess in some states they raise it and in others they don’t?

 

[oldtrig]

Nice! It’s really hard to know what to do!

It really is hard to choose.
In 2012 when I turned 65 I hired a pro to advise me. He suggested I go with UHC/AARP. Been with them every since. Payments back then was $120 per month plus around $15 for part D drug plan.
Now I pay $220 plus $ 40 per month for Part D. Well worth it the way I see it.

 

[spirit4earth]

It really is hard to choose.
In 2012 when I turned 65 I hired a pro to advise me. He suggested I go with UHC/AARP. Been with them every since. Payments back then was $120 per month plus around $15 for part D drug plan.
Now I pay $220 plus $ 40 per month for Part D. Well worth it the way I see it.

I’m hoping I’ll stay healthy enough to pass underwriting if I need to switch in 5ish years. Here, Aetna is only 76 dollars, but I wonder if that’s a way to draw people in before jacking up the price. AARO/UHC is the state’s only community-issued plan.

 

[audreyh1]

I’m hoping I’ll stay healthy enough to pass underwriting if I need to switch in 5ish years. Here, Aetna is only 76 dollars, but I wonder if that’s a way to draw people in before jacking up the price. AARO/UHC is the state’s only community-issued plan.

However, to keep people from paying too much upfront UHC/AARP discounts the price on that community rated plan such that the first year is heavily discounted, and the discount reduces 3% per year until leveling off at age 77 something (maybe a bit older).

Otherwise they’d probably never be able to compete as many states all the other plans are age rated and cheap initially.

 

[Donno]

I went with AARP/UHC when I signed up for a G plan three years ago and have been pleased. I've never had to call them, and they seem to promptly pay their portion not long after Medicare processes the claim. I could have gotten a less expensive plan with about a dozen or so other companies, but I decided to go with AARP because they have a larger pool of people, and it seems to keep the rates stabilized, as I've only seen rate increases in the $5-7 a month range.

 

[spirit4earth]

I went with AARP/UHC when I signed up for a G plan three years ago and have been pleased. I've never had to call them, and they seem to promptly pay their portion not long after Medicare processes the claim. I could have gotten a less expensive plan with about a dozen or so other companies, but I decided to go with AARP because they have a larger pool of people, and it seems to keep the rates stabilized, as I've only seen rate increases in the $5-7 a month range.

$5-7 a year? Or a month?!

 

[spirit4earth]

However, to keep people from paying too much upfront UHC/AARP discounts the price on that community rated plan such that the first year is heavily discounted, and the discount reduces 3% per year until leveling off at age 77 something (maybe a bit older).

Otherwise they’d probably never be able to compete as many states all the other plans are age rated and cheap initially.

So at the least, AARP will go up by 3% every year?

 

[audreyh1]

So at the least, AARP will go up by 3% every year?

Yes, because you lose 3% of your discount each year until a certain age.

 

[audreyh1]

$5-7 a year? Or a month?!

Annually.

 

[Donno]

$5-7 a year? Or a month?!

The rates increase every year, I pay monthly, so the rates have gone up by about $5-7 per month at each annual price increase. My plan started at $125/mo and went to $130 then $137. I don't know what this year's rate will be yet.

 

[spirit4earth]

That’s over $25 a year!

 

[audreyh1]

That’s over $25 a year!

Where do you get that? $5 the first year and $7 the second.

 

[spirit4earth]

Where do you get that? $5 the first year and $7 the second.

He said “the rates go up 5-7 per month”. Perhaps he meant year?

 

[harllee]

Watch out for Mutual Of Omaha in North Carolina--they close the book, jack up the rates and put all new business with a new company with a similar name. I would avoid Mutual of Omaha

 

[spirit4earth]

The rates increase every year, I pay monthly, so the rates have gone up by about $5-7 per month at each annual price increase. My plan started at $125/mo and went to $130 then $137. I don't know what this year's rate will be yet.

Do you mean the rates went up per month or per year?

 

[Midpack]

Some initially lower rates come via the practice of closing the book later. Several posters here have been trapped with MUCH higher rates once they have a serious health event.

 

[audreyh1]

He said “the rates go up 5-7 per month”. Perhaps he meant year?

He already clarified that it was annually, i.e. per year.

There are not monthly increases.

 

[sengsational]

I’m hoping I’ll stay healthy enough to pass underwriting if I need to switch in 5ish years. Here, Aetna is only 76 dollars, but I wonder if that’s a way to draw people in before jacking up the price. AARO/UHC is the state’s only community-issued plan.

You are a well-informed consumer of you know the different pricing methodologies. You can pass underwriting simply and easily until one day, completely unexpectedly, oops! And you're stuck. So it's all about if you feel lucky and want to save money now as opposed to having more predictable health insurance expenses. As indicated above, avoiding companies that have "closed the book" is essential if you do go that route.

About pricing of these attained age policies, it's not that there's an evil pricing entity in the company that has a plan to snare as many unsuspecting customers as possible... it's just math. Your age "cohort" makes up this pool of people holding the same policy. That same pool has a certain level of utilization, and everybody pays whatever rate level so the bills get paid (plus overhead and profit, amounts that are regulated). As the age of the pool increases, so does utilization, and rates rise to cover that increased use of services. There's also regular inflation that adds to the rate.

 

[MBSC]

I’m going to sign up for Plan N in North Carolina. I’m looking at AARP, Aetna, and Humana. I like Aetna because it’s the cheapest ($76), but is that a lure and they’ll really raise the price a lot later?

Yes, it's a teaser rate because Aetna Health Insurance Company (AHIC) on Medicare.gov is a new book/block/pool. The older, unhealthy enrollees are in the AHLIC pool. It's just a matter of time before AHIC closes to new enrollees.

Effective October 20, 2014, Aetna Health and Life Insurance Company (AHLIC) will offer Medicare Supplement plans in North Carolina.

Source: https://www.aetnaseniorproducts.com/assets/pdf/Bulletins/NC_AHLIC_102014.pdf

The old Plan N (AHLIC) had a 15% increase in 2023. The annual premium for a 70 y/o female increased from $2037 to $2343. For 80F, it increased from $2654 to $3052. This comes after a 14% increase in 2020, 15% increase in 2021 and 14% increase in 2022.

Source: https://filingaccess.serff.com/sfa/home/NC

 

[spirit4earth]

You’re paying 2000 plus for a plan N? Is this a typo?

 

[REWahoo]

You’re paying 2000 plus for a plan N? Is this a typo?

Seriously doubt that's a typo.

MBSC is providing you a couple of examples of what folks in that particular Aetna pool in NC are paying annually and a little history on how much Aetna has increased pool rates.