2024 Plan G Renewal Journey

[nwsteve]

We received notice of new rates from Mutual of Omaha for our Plan G to $235/person up from 202. Went shopping, starting with current rates listed on our state Insurance Commission website and came across what looked like a new provider Medico.
Called Boomer Benefits (BB) to get firm quote and they don't work with Medico. and had nothing materially better than the offer I got directly from Mutual of Omaha. They also don't work with Premera Blue which would have allowed us to keep the same rates. Starting to see the losing some of its value.
Left a message on voicemail for Medico for rep to call. Got call back in 2 days (same as BB) and surprise, surprise, our rate to renew our Plan G is $184/person. We will save $1440/yr over renewing with Mutual of Omaha! Completing the paperwork only took 30 min since WASH is a guaranteed issue state for direct replacement. Nominal cost IMHO given the savings
Medico gets decent reviews and largely Midwest focused. When questioned, agent confirmed WA is a new state for them but also commented they were very competitive in his other states. Hopefully they will not jack rates up too much next year.

 

[target2019]

I wish you well with the journey!

In our 3rd year, our combined Plan G rate went up a total of $50/month. State is NJ.

 

[sengsational]

Thanks for posting the update. Good info. I checked Giardini's YouTube channel, but neither Medico or Wellabe (the new brand) showed up there, so they might not do business in Michigan, where Giardini does business.

For those who are interested in the Medicare supplemental policy buying decision generally, here's a thread you might consider reading: Medigap Shopping: Closing the Book & Rate Increases

 

[jj]

DH has just had his letter about this year's increase for his Mutual of Omaha Medigap Plan G supplement. His premium has gone from $139.77 to $168.80. That's an increase of over 20%. A bigger increase than ever before.

 

[teej1985]

OP is in Washington - they can switch to whoever they want with no underwriting. I suggest they check the rates on the state of Washington's website.

https://www.insurance.wa.gov/sites/default/files/documents/medicare-supp-plans_73.pdf

 

[pb4uski]

We recently went through this, but as a consequence of our move from Florida to Texas. we had to go through underwriting, but the new carrier is almost $100/month lower than our current premiums... each... so we'll be saving almost $200/month.