Boomer Benefits opinions?

[Murf2]

I talked to BB about MediCare supplement plans recently. I am wondering about any feedback you all might have.

Basically the agent suggested plan N over G. Stating that overcharges were unusual & avoidable in most cases. Also, that rate increases for N would probably be less than for Plan G.

He also tried to reassure me that the difference’s in customer service between companies were very low and that price should be the determining factor. I was concerned with customer service of companies I’d never heard of. He was not.

To sum up, he basically said “the lowest priced Plan N is where he would advise me to go.” I was thinking of AARP/UHC or BCBSKS originally. Prior good experience with BCBSKS and community pricing for AARP.

The rates seemed low enough that the community pricing advantage would take a long time to materialize.

The agent seemed very forthcoming in the fact that they only represented certain companies not all.

Anything else I should take into consideration?

Thanks
Murf

 

[MichaelB]

I think N over G is a reasonable option, depending on the difference in price. We took G but I’ve not seen any indication of Medicare overcharge, even in expensive South Florida.

Not sure how to measure customer service, as MediGap insurers aren’t in a position to approve or deny a service - that call is already made by Medicare.

One area that has come up in earlier threads is a MediGap insurer closes a policy group to new entrants and then starts pushing the price up, and because the policyholders are stuck, there’s no way out. That led me to opt for one of the large national insurers, who I suspect are less likely to do something like that, and avoid the smaller providers of life insurance and also MediGap.

 

[Dash man]

Sounds like you spoke to a good agent. I have plan N primarily to minimize rate hikes in the future. Pennsylvania doesn’t permit excess charges by law, but I would have gone with Plan N anyway. We chose AARP/UHC and haven’t had any problems. I’ve heard Boomer Benefits sometimes pushed people towards Mutual of Omaha, but I would caution against that since they sometimes close books on a plan, causing higher prices down later on. AARP does community pricing, but gives discounts that gradually go away as you get older. They’re upfront about it and will send you a chart soon after you sign up.
I highly recommend them.

 

[REWahoo]

After 6 years on Medicare we switched from HD-F to N and have never had any issue with overcharges. This was 4 years ago.

Our carrier is known for the "closed book" strategy MichaelB mentions above, and sure enough, they did this to us a year after we went with them. We haven't been with them long enough to know what the actual long term impact will be, but the increase we were hit with in the first year was around 6%. The past three years, after closing the book, it has averaged 9%/yr. The resulting rate is still considerably less than the AARP/UHC community rates I see for my age. I'm sure at some point in the future we will end up paying higher rates than AARP/UHC, but until then we will have saved quite a few dollars.

The way I see it, you will either pay now or pay later, and there is no way to know in advance which option will turn out to be less expensive.

 

[bmcgonig]

I think N over G is a reasonable option, depending on the difference in price. We took G but I’ve not seen any indication of Medicare overcharge, even in expensive South Florida.

Not sure how to measure customer service, as MediGap insurers aren’t in a position to approve or deny a service - that call is already made by Medicare.

One area that has come up in earlier threads is a MediGap insurer closes a policy group to new entrants and then starts pushing the price up, and because the policyholders are stuck, there’s no way out. That led me to opt for one of the large national insurers, who I suspect are less likely to do something like that, and avoid the smaller providers of life insurance and also MediGap.

Valid point about customer service. I would add that the freebies attached to the different company plans are different. For example in my area AARP plan G allows free access to many gyms and Pilates type places, whereas the ones that my friend had was comparatively limited, causing her to switch. The AARP one is called Renew Active, the other one is the famous Silver Sneakers.

The gym that Renew Active offered is normally over $100 per month. Not sure what all the Pilates classes etc would cost.

 

[swakyaby]

I was told something similar, that the benefits are determined by the plan, not the insurance company, so it made sense to shop by price. However, the senior health advisor I am using for DH’s medigap plan G states that in my area, he is allowed to change insurance company without penalty or medical underwriting on his birth month. So when Blue Shield announced its rate increase after one year, my agent recommended switching to Mutual of Omaha for their lower price. Next year, if the rate goes up, she said DH can change to a more competitive company on his birth month. I wasn’t aware of these rules when I read up on Medicare. We live in California.

 

[Midpack]

We've had a MoO Plan G supplement for 3 years, and we've been very happy with that.

After spending way too much time researching Medicare as I approached 65, I contacted Boomer Benefits, and went with the recommendations they made - and never regretted it. I am confident they gave me good guidance because of all the research I'd done, it was only afterwards I realized there was no need to educate myself so deeply. I'd recommend Boomer Benefits to anyone.

 

[Murf2]

Not sure how to measure customer service, as MediGap insurers aren’t in a position to approve or deny a service - that call is already made by Medicare.

I guess customer service is probably the wrong term. I was thinking about how helpful they are with questions, issues etc. I have been very satisfied with BCBS but who’s knows if that would be the same with a MediCare policy anyway.

Thanks for the help! I’m sure I’m overthinking it but not being able to easily change plans has me worried.

Thanks again!
Murg

 

[REWahoo]

I guess customer service is probably the wrong term. I was thinking about how helpful they are with questions, issues etc. I have been very satisfied with BCBS but who’s knows if that would be the same with a MediCare policy anyway.

Thanks for the help! I’m sure I’m overthinking it but not being able to easily change plans has me worried.

Thanks again!
Murg

Murf, I agree you are probably overthinking it. My experience is you will have virtually zero interaction with your medigap insurer. Any issues are almost certainly to be with Medicare itself and/or your medical provider. Plus, if you go through BB for the policy, they promise to act on your behalf if you have problems with Medicare - contact them and they will deal with Medicare for you.

 

[MichaelB]

Thanks for the help! I’m sure I’m overthinking it but not being able to easily change plans has me worried.

Murf2, I tend to agree with REWahoo that you are overthinking it, but I did too, and for the same reason as you - it’s a one time choice.

In my area most providers of Medigap plans were life insurers. I chose BCBS for DW and UHC/AARP for me because I figured if any issues were to arise, they would be more likely come from an insurer who’s core business is not health insurance, and a health insurer was less likely to close the group or drop the policy.

UHC/AARP is (or was) supposed to allow changes among the MediGap policies without underwriting. Not sure what the status of that is.

 

[harllee]

Watch out for Mutual of Omaha. DH and I had the Mutual of Omaha Plan G and the third year they went up about 30% on premiums. I was able to change to AARP UHC and now pay $110/month for Plan G. DH is stuck with Mutual of Omaha plan G because of a preexisting condition and now pays $200 per month and every year it goes up significantly. DH went to Boomer Benefits for help and they were not able to find him another policy due to underwriting. If Boomer Benefits are recommending Mutual of Omaha they are doing a major disservice to their customers.

 

[Murf2]

MichaelB, I thought it was kinda odd that it was mostly life insurance companies. I did not think about the possibility that they may be worse than a health insurance company. More to ponder.

harllee, I believe I read about your experience with M of O in another thread. Of course, it was one of the first companies he mentioned. I wouldn’t say he was pushing it but it was in the mix. As we all talked he mentioned he practice of closing groups & opening new groups. Also mentioned that some of the never before heard of companies were just subs of bigger companies.

Not sure what I’ll do yet but I want to thank everyone again for any thoughts on the subject!

Murf

 

[Piper20]

Harlee

Did you happen to fill out the paperwork for DH for UHC? We go thru AON and they didn’t think UHC would allow DW to change but they did with preexisting condition from Cigna who are also robbers.

 

[jldavid47]

I talked to BB about MediCare supplement plans recently. I am wondering about any feedback you all might have.

I used BB when I was looking for a supplement and had a great experience with the agent I worked with. She did not try to steer me toward the highest rate plan. In fact, she told me up front that it didn't matter which plan I chose as she was being paid the same no matter which one I chose. I ended up going with the lowest cost Plan G in my area which was from Accendo (a subsidiary of Aetna). So far no issues whatsoever.

 

[harllee]

Harlee

Did you happen to fill out the paperwork for DH for UHC? We go thru AON and they didn’t think UHC would allow DW to change but they did with preexisting condition from Cigna who are also robbers.

Yes DH filled out all the paperwork for UHC and Boomer benefits resubmitted to UHC and a couple of other insurers and they all turned DH down. DH's preexisting condition is psoriatic arthritis which is an autoimmune disease.

 

[Bamaman]

We had been on AARP/UHC's Plan G for a couple of years. A year and a half ago, my wife was going to need an electric wheelchair ($2500) and I needed a new insulin pump ($). The Plan B 20% deductible was going to be a lot, and I switched over to Plan F because durable devices have no deductible. I assume because I had Plan G, it allowed me to move to Plan F without any of the pre-existing mambo jumbo rules.

I really didn't realize that you could change plans anytime throughout the year.

My wife has since had a mid-foot fusion (arthritis), hospitalization for AFIB and hospitalization for aspirational pneumonia where she was in a coma 12 hrs.. I get statements from Medicare about charges and deductibles we may be liable to pay, however we've not received any demand for any funds from doctors, hospitals or durable goods suppliers. We cannot complain about that.

In 10 days, she's going in for a 2 day 4 disc removal, stenosis surgery and a serious back fusion. We dread going through this, but when you cannot sleep because of extreme pain somethings got to be done.

We're just so thankful to have Plan F and the insurance coverage under Medicare.

 

[Midpack]

Watch out for Mutual of Omaha. DH and I had the Mutual of Omaha Plan G and the third year they went up about 30% on premiums. I was able to change to AARP UHC and now pay $110/month for Plan G. DH is stuck with Mutual of Omaha plan G because of a preexisting condition and now pays $200 per month and every year it goes up significantly. DH went to Boomer Benefits for help and they were not able to find him another policy due to underwriting. If Boomer Benefits are recommending Mutual of Omaha they are doing a major disservice to their customers.

There must be something more to the story, just the opposite of our experience with a Mutual of Omaha Plan G. I started with them in May 2020, here's our premium history:

Mon Yr	Premium/mo	Increase
May 2020	$119.98
Jul 2021	$120.69	0.6%
May 2022	$130.35	8.0%

With the 2022 increase, they guaranteed it would not increase for 12 months. So my premium has increased at an annual rate of 4.2% so far.

And though I don't have many claims, claims handling has been flawless to date.

Furthermore, when DW went on Medicare last Fall, as a two policyholder family Mutual of Omaha discounted her premium - hers is only $93.90/mo.

So we'd recommend Mutual of Omaha and Boomer Benefits...

 

[harllee]

There must be something more to the story, just the opposite of our experience with a Mutual of Omaha Plan G. I started with them in May 2020, here's our premium history:

Mon Yr	Premium/mo	Increase
May 2020	$119.98
Jul 2021	$120.69	0.6%
May 2022	$130.35	8.0%

With the 2022 increase, they guaranteed it would not increase for 12 months. So my premium has increased at an annual rate of 4.2% so far.

And though I don't have many claims, claims handling has been flawless to date.

Furthermore, when DW went on Medicare last Fall, as a two policyholder family Mutual of Omaha discounted her premium - hers is only $93.90/mo.

So we'd recommend Mutual of Omaha and Boomer Benefits...

The big Mutual of Omaha increase hit us at age 68 or 69. The the premium went from $120 to to $165 per month. At that point I moved to AARP and my premium went down to $100 per month. At age 72 DH's Mutual of Omaha premium is now $200 per month and my AARP premium is $110. Midpack, maybe the big MO increases have not hit you yet, maybe it was our zip code (but we are in the same state as you) or maybe MO put us in one of those closed companies, they are known for doing that.

 

[VanWinkle]

I used Boomer Benefits when I started my Medicare journey. The agent was nice and helpful. I have not heard anything from them since the initial sign up and have not needed any assistance. I think they are fine, but a local agent would likely do the job also.

 

[Midpack]

The big Mutual of Omaha increase hit us at age 68 or 69. The the premium went from $120 to to $165 per month. At that point I moved to AARP and my premium went down to $100 per month. At age 72 DH's Mutual of Omaha premium is now $200 per month and my AARP premium is $110. Midpack, maybe the big MO increases have not hit you yet, maybe it was our zip code (but we are in the same state as you) or maybe MO put us in one of those closed companies, they are known for doing that.

I need to find out if my plan is attained age, issue age or community rate (don’t know tbh )- but it appears Medigap plans can increase with age and inflation.

It may well be your rate increase was predictable, and not malpractice by MoO as you contend.

 

[REWahoo]

I need to find out if my plan is attained age, issue age or community rate (don’t know tbh )- but it appears Medigap plans can increase with age and inflation.

I believe MoO is attained age in all states. Their annual rate increase for an individual has two components as you describe, but they implement them both simultaneously so insureds don't get hit with two increases a year.

 

[Midpack]

I believe MoO is attained age in all states. Their annual rate increase for an individual has two components as you describe, but they implement them both simultaneously so insureds don't get hit with two increases a year.

Thank you. I just pulled out my policy and still don't see where it's stated, so I will call them sometime this week.

As I understand it, attained age has the lowest starting premiums and the highest rate increases due to age. Inflation impacts all of them among other factors. I might have chosen issue age or community rated had I been aware of the options, but I am sure customers gravitate heavily toward lower premiums so brokers probably quote attained age and don't bother to explain - after the other options are ignored by customers more often than not. And I am sure there's no benefit for most policyholders in one over the other in the long run, it's a matter of pay us more/less now, or pay us less/more later.

 

[REWahoo]

As I understand it, attained age has the lowest starting premiums and the highest rate increases due to age.

That's how I understand it as well.

Community rated starts out with higher premiums but should have more moderate increases over time when compared to attained age. (You pay me now, or you pay me later.) The big question is, which will cost an insured less over their Medicare lifetime? YMMV

 

[harllee]

I need to find out if my plan is attained age, issue age or community rate (don’t know tbh )- but it appears Medigap plans can increase with age and inflation.

It may well be your rate increase was predictable, and not malpractice by MoO as you contend.

Yes, Medicare plans can definitely increase with age and inflation (My AARP plan does increase some each year) but the large Mutual of Omaha increase at age 68 was not expected. Even Boomer Benefits could not figure it out and recommended that we immediately change to another company which I was able to do. But DH could not change due to a preexisting condition. Boomer Benefits spent a lot of time with DH trying to find another company but no company would take him. I just which we had started out with AARP UHC instead of MofO.

 

[anethum]

I dealt with 2 different Boomer Benefits agents. I liked the 2nd one a lot more than the 1st one. I also spoke with a local agent who worked with different insurers than the BB agents. OP, I don't believe you're overthinking this, given that depending on your state rules, this can be a decision that you may be stuck with for the rest of their life.

I initially signed up with Mutual of Omaha Medigap Plan G. At the time, MoO and United Healthcare (UHC) were charging virtually the same rate in my high COLA area after factoring in any discounts offered by each carrier. I did feel that my 1st BB agent was trying to get me to sign up with MoO. When I turned 66, MoO increased my premium by 10%. I called BB again and spoke with a different agent. I passed underwriting and switched to AARP UHC Plan G. I'm glad I switched, because MoO's rates in my area have continued to have much larger increases than UHC. Based on my state government's data, it appears that there have been 10% annual increases by MoO in my area in each of the past 3 years. So far, my UHC increases have been about 3% in each of my first 3 years on Medicare.