REWahoo
Give me a museum and I'll fill it. (Picasso) Give
DW (75) and I (77) have had Medigap plan N policies with Mutual of Omaha since mid 2018. MoO "closed the book" on our pool of insureds about a year after we started with them and I have been closely monitoring their annual rate increase each June, expecting the worst. They haven't been too outrageous, but in 2021 and again in 2023 they hit all the plan N folks in our pool with 13.5%. I have been closely watching their plan N rate increases in other states over the past few months and many are in the 20% range, which doesn't bode well for what we will see come June.
I took the initiative today to try to make the switch to another insurer. I've seen a positive review or two on Allstate, which is relatively new to the Medigap world, so I contacted them for a plan N quote. I was pleased to find out I could save $35/mo ($104 vs $139) if I could get through underwriting, which I had no trouble in doing. Unfortunately DW developed some health issues a couple of years ago and is likely stuck with MoO. It's a bit ironic that me leaving DW's pool is likely to add upward pressure to future increases for her. Did I just shoot myself in the foot?
Of course Allstate could turn out to be no better than MoO when it comes to future increases, but at least I will have re-set the start point at a slightly lower level.
I took the initiative today to try to make the switch to another insurer. I've seen a positive review or two on Allstate, which is relatively new to the Medigap world, so I contacted them for a plan N quote. I was pleased to find out I could save $35/mo ($104 vs $139) if I could get through underwriting, which I had no trouble in doing. Unfortunately DW developed some health issues a couple of years ago and is likely stuck with MoO. It's a bit ironic that me leaving DW's pool is likely to add upward pressure to future increases for her. Did I just shoot myself in the foot?
Of course Allstate could turn out to be no better than MoO when it comes to future increases, but at least I will have re-set the start point at a slightly lower level.