AARP UHC jack up price.

workmyfingerstothebone

workmyfingerstothebone

Recycles dryer sheets
Joined
Oct 11, 2013
Messages
133
Just turned 65 and started medicare last Nov.
Offered a discount of 128/month supplemental insurance with it going up to 150 after a year.
I was fine with that but....

Two months later received a letter stating the insurance will go up to 180/yr starting in December ! WTH :mad:
That's a 20% increase ...

I guess they are trying to make up for their upcoming "medicare advantage" lawsuit. :unsure:
Anyone else seeing these increases?

Are they just increasing my cost specially because I used their service? That would seem illegal.

Something needs to be done about these absurd rate increases, happens with home and car insurance as well.

Anyway, more a of gripe .... answer if you feel compelled.

Have a nice day
 
Lots of discussion about this in this recent thread...

Massive Medicare Supplement cost increases in 2025 coming to a state near you

Christopher Westfall (SeniorSavingsNetwork.org) just posted a video on massive Medigap Rate increases coming in 2025...for example: MoO in Illinois is up 40%. These increases are based on costly items like elective care that were often deferred during Covid (knee surgeries, etc.) FYI...
www.early-retirement.org www.early-retirement.org
 
workmyfingerstothebone said:
I guess they are trying to make up for their upcoming "medicare advantage" lawsuit. :unsure:
Anyone else seeing these increases?

Are they just increasing my cost specially because I used their service? That would seem illegal.

Something needs to be done about these absurd rate increases, happens with home and car insurance as well.
Click to expand...

No to both of your questions. I worked in property-casualty insurance for 38 years. Insurance rates are strictly regulated (other than those for very large commercial accounts where the buyer is assumed to be on an equal playing field with the insurer). They are required to file statistics justifying their rate changes and while there's guesswork involved (e.g., future changes in claim costs) I can tell you the people who work for the regulators will pick apart any assumption that appears too pessimistic and ignore areas that might be over-optimistic. They would not be permitted to factor in the costs of a lawsuit.

While health insurers MAY raise rates because the group of insureds has increasing claim costs, they do not rate individually so, unlike Auto and Homeowners, your rate won't go up because you filed a claim. Seniors are expensive to insure. Even those of us who were careful about nutrition, exercise, etc. have Stuff happen as various body parts fail. It's even worse for people who didn't take care of themselves or had jobs that were physically stressful.
 
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When I compare my AARP UHC price increase to the amount of my husbands Mutual Of Omaha price increases (we are the same age) my price increase is usually half of my husbands. AARP UHC is still the best deal.
 
athena53 said:
No to both of your questions. I worked in property0casulaty insurance for 38 years. Insurance rates are strictly regulated (other than those for very large commercial accounts where the buyer is assumed to be on an equal playing field with the insurer). They are required to file statistics justifying their rate changes and while there's guesswork involved (e.g., future changes in claim costs) I can tell you the people who work for the regulators will pick apart any assumption that appears too pessimistic and ignore areas that might be over-optimistic. They would not be permitted to factor in the costs of a lawsuit.

While health insurers MAY raise rates because the group of insureds has increasing claim costs, they do not rate individually so, unlike Auto and Homeowners, your rate won't go up because you filed a claim. Seniors are expensive to insure. Even those of us who were careful about nutrition, exercise, etc. have Stuff happen as various body parts fail. It's even worse for people who didn't take care of themselves or had jobs that were physically stressful.
Click to expand...
Excellent post - thanks for the perspective
 
workmyfingerstothebone said:
Two months later received a letter stating the insurance will go up to 180/yr starting in December ! WTH :mad:
That's a 20% increase ...
Click to expand...

That does sound like quite a jump. This is how my cost has grown:
2022 66 yrs old $123
2023 67 yrs old $153
2024 68 yrs old $174
2025 69 yrs old $203

Before I retired, I attended a few SHIP Medicare online education sessions, they provided charts of prices and what to expect for increases. I think there were multiple factors like ordinary increases, inflation type increases, and age discount expiration increases. It looked like eventually, without even factoring in inflation, I'll be paying $400 a month (if lucky enough to live that long).

I don't have much money in my HSA, but eventually I'm going to need to use what I have toward hearing aids and/or monthly plan costs.

I'm pretty sure I'll get my money's worth tho, because my body is already developing hip pain and knee pain, not to mention cataract fuzziness increasing.
 
athena53 said:
No to both of your questions. I worked in property0casulaty insurance for 38 years. Insurance rates are strictly regulated (other than those for very large commercial accounts where the buyer is assumed to be on an equal playing field with the insurer). They are required to file statistics justifying their rate changes and while there's guesswork involved (e.g., future changes in claim costs) I can tell you the people who work for the regulators will pick apart any assumption that appears too pessimistic and ignore areas that might be over-optimistic. They would not be permitted to factor in the costs of a lawsuit.

While health insurers MAY raise rates because the group of insureds has increasing claim costs, they do not rate individually so, unlike Auto and Homeowners, your rate won't go up because you filed a claim. Seniors are expensive to insure. Even those of us who were careful about nutrition, exercise, etc. have Stuff happen as various body parts fail. It's even worse for people who didn't take care of themselves or had jobs that were physically stressful.
Click to expand...
Thank you for the info.
Seems like a bait and switch situation to me .... just me 2 cents
 
PaunchyPirate said:
Lots of discussion about this in this recent thread...

Massive Medicare Supplement cost increases in 2025 coming to a state near you

Christopher Westfall (SeniorSavingsNetwork.org) just posted a video on massive Medigap Rate increases coming in 2025...for example: MoO in Illinois is up 40%. These increases are based on costly items like elective care that were often deferred during Covid (knee surgeries, etc.) FYI...
www.early-retirement.org www.early-retirement.org
Click to expand...
thanks , I'll check it out
 
UpQuark said:
That does sound like quite a jump. This is how my cost has grown:
2022 66 yrs old $123
2023 67 yrs old $153
2024 68 yrs old $174
2025 69 yrs old $203

Before I retired, I attended a few SHIP Medicare online education sessions, they provided charts of prices and what to expect for increases. I think there were multiple factors like ordinary increases, inflation type increases, and age discount expiration increases. It looked like eventually, without even factoring in inflation, I'll be paying $400 a month (if lucky enough to live that long).

I don't have much money in my HSA, but eventually I'm going to need to use what I have toward hearing aids and/or monthly plan costs.

I'm pretty sure I'll get my money's worth tho, because my body is already developing hip pain and knee pain, not to mention cataract fuzziness increasing.
Click to expand...
Eventually only the well off will be able to afford the supplemental insurance.... :unsure:
 
Well, I guess it's my turn. Starting in June it's $316.50, up from $277.75, so a 14% increase. Definitely outpacing inflation. I have some hopes for the weight-loss drugs for people who have been unable to lose weight by other means- they're expensive but could pay off in the long run as fewer people develop the health issues related to being overweight. Short-term pain for long-term gain?

workmyfingerstothebone said:
Eventually only the well off will be able to afford the supplemental insurance.... :unsure:
Click to expand...

Unless you're judgment-proof (which certainly doesn't apply to the well-off), you can't NOT afford to buy that coverage. Better than getting billed for the 20% of claims Medicare doesn't pay.
 
aja8888 said:
The big price hits are coming for you! >:D
Click to expand...

That appears almost inevitable, assuming you live long enough to experience the hits.

While it isn't possible to avoid the increases I did mitigate them by changing insurers a couple of times, which in my state is only possible if you can get through underwriting.

I started Medicare with a high deductible plan F from age 65 to age 71. I then went through underwriting to switch to a Plan N with another insurer and my monthly premium increased from $65 to $88. Six years later my monthly premium was up to $140 so I went through underwriting again to go with another insurer and my Plan N premium dropped to $104. Now, at age 78, it is $119.

I'm still in relatively good health and if I can remain that way for a few more years I may give it another go. Not counting on it though...
 
REWahoo said:
That appears almost inevitable, assuming you live long enough to experience the hits.

While it isn't possible to avoid the increases I did mitigate them by changing insurers a couple of times, which in my state is only possible if you can get through underwriting.

I started Medicare with a high deductible plan F from age 65 to age 71. I then went through underwriting to switch to a Plan N with another insurer and my monthly premium increased from $65 to $88. Six years later my monthly premium was up to $140 so I went through underwriting again to go with another insurer and my Plan N premium dropped to $104. Now, at age 78, it is $119.

I'm still in relatively good health and if I can remain that way for a few more years I may give it another go. Not counting on it though...
Click to expand...
In went through underwriting twice for plan changes. But those days are gone now....
 
Is anybody considering moving from Plan G to Plan N while it's still allowed without underwriting with AARP/UHC? Of course, you can't ever go back to Plan G without underwriting.

Plan N has had lower rate increases for my area but has become more popular. Of course, the premiums are less than Plan G. At what point do the Plan N claims exceed Plan G?

I was advised by a state insurance senior advisor/employee to buy the best supplemental coverage I could continue to afford during my 6-mo. guarantee period. While I could have bought Plan F at the time, it made no sense.

So, I bought Plan G from MoO per Boomer Benefits. Very fortunately, I changed to AARP/UHC with only two weeks left in my 6-mo. guarantee period...
 
You can almost always save a few bucks by going with an N over a G, but I decided that I prefer not having to deal with co-pays each time I see a provider. I really do enjoy just walking in and out with no realtime payment ever needed. In fact, my plan (AARP/UHC will even handle the annual deductible on my behalf (i.e., they will pay and draft the funds from my bank account). Nothing I need to do at all.
 
euro said:
You can almost always save a few bucks by going with an N over a G, but I decided that I prefer not having to deal with co-pays each time I see a provider. I really do enjoy just walking in and out with no realtime payment ever needed. In fact, my plan (AARP/UHC will even handle the annual deductible on my behalf (i.e., they will pay and draft the funds from my bank account). Nothing I need to do at all.
Click to expand...
In the 7 years DW and I been on Plan N we have never been asked to pay a copayment at the time of service.
 
REWahoo said:
In the 7 years DW and I been on Plan N we have never been asked to pay a copayment at the time of service.
Click to expand...
Good for you - do they not charge the copay or do they just bill it afterwards? If the latter, that's still more hassle than I want to deal with
 
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