How long have you been with your medigap company?

[Steve s]

Wife turns 65 in Feb and figured we would just get her plan g with Bankers Fidelity who I am with.
During the shopping process I became aware that a lot of people move from provider to medigap provider yearly, if in good health.
Noticed Boomer Benefits came up on this board and their site says they will contact you yearly to see if you are happy with your present plan and rate.
I did not realize people changed providers that often.
My wife has past health problems so after 65 she would have more costly switching so hope to get it right the first time. I will be switching from Fhd to G. Did like the Boomer Benefit web and they are going to email me some prices.
Have you been happy long term with your medigap provider or do you change yearly for a better rate?
Thank you

 

[REWahoo]

During the shopping process I became aware that a lot of people move from provider to medigap provider yearly, if in good health.

Have you been happy long term with your medigap provider or do you change yearly for a better rate?

I would be surprised if statistics show annual changes to a different Medigap provider are all that common due to underwriting requirements in all but a few states/circumstances. That sounds more like shopping Advantage plans during the annual enrollment period, when underwriting isn't involved.

DW and I kept our initial Medigap insurer (BC/BS) for five and seven years respectively, until learning their premiums were no longer competitive in our area. We then switched to a different plan (went from F-HD to N) with Mutual of Omaha. I don't envision us looking to rate shop again but I will do an annual comparison to monitor how MoO rates track against other insurers.

 

[ivinsfan]

Wife turns 65 in Feb and figured we would just get her plan g with Bankers Fidelity who I am with.
During the shopping process I became aware that a lot of people move from provider to medigap provider yearly, if in good health.
Noticed Boomer Benefits came up on this board and their site says they will contact you yearly to see if you are happy with your present plan and rate.
I did not realize people changed providers that often.
My wife has past health problems so after 65 she would have more costly switching so hope to get it right the first time. I will be switching from Fhd to G. Did like the Boomer Benefit web and they are going to email me some prices.
Have you been happy long term with your medigap provider or do you change yearly for a better rate?
Thank you

No it won't be more costly switching because she won't be switching...all but Advantage plans requires underwriting after the initial enrollment period. If you can't pass underwriting you can't switch, now you can switch part d plans annually so it has different rules.

 

[ivinsfan]

I would be surprised if statistics show annual changes to a different Medigap provider are all that common. That sounds more like shopping Advantage plans during the annual enrollment period.

DW and I kept our initial Medigap insurer (BC/BS) for five and seven years respectively, until learning their premiums were no longer competitive in our area. We then switched to a different plan (went from F-HD to N) with Mutual of Omaha. I don't envision us looking to rate shop again but I will do an annual comparison to monitor how MoO rates track against other insurers.

You didn't mention here that most states this requires underwriting which would be helpful for new readers.

 

[Steve s]

Thanks Rewahoo and Ivinsfan. One of the reasons I picked Bankers Fidelity is they had a record of low rate increases amoung the age brackets at the time I purchased. Talking with a friend who also had BF Medigap said she switched to Medico after visiting Iowa SHIP for lower rates and got curious how often people switched medigap providers.
I realize health conditions would affect switching with underwriting.
Not to stray to much I am a little disappointed with SHIP because when I contact a company for rates they are lower then published by SHIP using the same perimeters, male non smoker etc. How can one use SHIP to compare when if the information is not accurate either by SHIP or the provider providing the current rates to SHIP. Sorry had to vent there!

 

[savory]

I shop plans each year during the annual enrollment. This year I moved to a kaiserpermanente area. After shopping around and even posting on this site, we decided to give it a try. We know one big advantage was the cost. Our monthly premium costs were reduced by hundreds of dollars. Our health is generally good but we have had some surgeries which if happened again would not be a major cost impact in the new vs old plan. From a financial perspective, we would still save money.

Our major concern was an HMO does not have enough choice of medical care providers. After some discussion, we felt that Kaiser would be able to offer a quality care program since we can use their doctors outside of our local area. And, our prior choice of physicians is not very scientific but I should add, we have been very happy with our choice. So, we know the cost is right. We will experiment with the care as we have done with all of our moves from city to city.

 

[ivinsfan]

I shop plans each year during the annual enrollment. This year I moved to a kaiserpermanente area. After shopping around and even posting on this site, we decided to give it a try. We know one big advantage was the cost. Our monthly premium costs were reduced by hundreds of dollars. Our health is generally good but we have had some surgeries which if happened again would not be a major cost impact in the new vs old plan. From a financial perspective, we would still save money.

Our major concern was an HMO does not have enough choice of medical care providers. After some discussion, we felt that Kaiser would be able to offer a quality care program since we can use their doctors outside of our local area. And, our prior choice of physicians is not very scientific but I should add, we have been very happy with our choice. So, we know the cost is right. We will experiment with the care as we have done with all of our moves from city to city.

Did you switch to an Advantage plan, that's my Plan B if my Medi-gap gets too pricey. I'm encouraged by the fact that some Advantage plans are starting of offer better coverage if you a traveling out of you home network...

 

[REWahoo]

I shop plans each year during the annual enrollment.

You must be on an Advantage plan?

 

[Ian S]

I shop plans each year during the annual enrollment. This year I moved to a kaiserpermanente area. After shopping around and even posting on this site, we decided to give it a try. We know one big advantage was the cost. Our monthly premium costs were reduced by hundreds of dollars. Our health is generally good but we have had some surgeries which if happened again would not be a major cost impact in the new vs old plan. From a financial perspective, we would still save money.

Our major concern was an HMO does not have enough choice of medical care providers. After some discussion, we felt that Kaiser would be able to offer a quality care program since we can use their doctors outside of our local area. And, our prior choice of physicians is not very scientific but I should add, we have been very happy with our choice. So, we know the cost is right. We will experiment with the care as we have done with all of our moves from city to city.

It sounds like you're talking about a Medicare Advantage plan not a Medigap plan.

In general. after initial enrollment at age 65, and unless your state has their own rules, you can't switch Medigap companies without underwriting. That doesn't preclude you from trying and if you are healthy, you may actually be able to switch. It will depend on the new company requirements. Note that even if you get turned down by one company, another company may take you. See Switching Medigap Plans is Tricky | Squared Away Blog

Can you switch plans within the same company? The answer is maybe. It likely depends on the company and I suspect depends on whether you're switching to a less or more generous plan. For example, when I enrolled at 65, I opted for the AARP UHC medigap plan F. I would have preferred a Plan G but there was not an AARP UHC plan G at that time. Subsequently, AARP UHC came out with a plan G and I was able to switch easily via a phone call. I'm not sure whether that's still the case or not.

 

[REWahoo]

Thanks Rewahoo and Ivinsfan. One of the reasons I picked Bankers Fidelity is they had a record of low rate increases amoung the age brackets at the time I purchased. Talking with a friend who also had BF Medigap said she switched to Medico after visiting Iowa SHIP for lower rates and got curious how often people switched medigap providers.
I realize health conditions would affect switching with underwriting.
Not to stray to much I am a little disappointed with SHIP because when I contact a company for rates they are lower then published by SHIP using the same perimeters, male non smoker etc. How can one use SHIP to compare when if the information is not accurate either by SHIP or the provider providing the current rates to SHIP. Sorry had to vent there!

One advantage of using an independent like BoomerBenefits is they can give you accurate rate information as well as the history of increases by insurer.

 

[Ian S]

Did you switch to an Advantage plan, that's my Plan B if my Medi-gap gets too pricey. I'm encouraged by the fact that some Advantage plans are starting of offer better coverage if you a traveling out of you home network...

I've been thinking that eventually, as I get a lot older, a Medicare Advantage plan may make sense. At some age, I expect my physical ability to travel far will be much reduced if not pretty much impossible. At that point, the issue of traveling outside of a home network will become moot. I figure that in the short term, foreign destinations will be at the top of my list as getting supplemental travel insurance will be easier and cheaper. When that sort of insurance is no longer viable, then I can still travel within the USA with my traditional Medicare plus Medigap.

 

[savory]

You must be on an Advantage plan?

I did not realize I have an Advantage Plan until now. I get it through my former employer. I am required to use their site in order to receive my annual health allowance. Then, each year I shop the available plans. Sorry, about the mis-information. Given I always had that option, I thought others did as well.

 

[omni550]

Wife turns 65 in Feb and figured we would just get her plan g with Bankers Fidelity who I am with.
During the shopping process I became aware that a lot of people move from provider to medigap provider yearly, if in good health.
Noticed Boomer Benefits came up on this board and their site says they will contact you yearly to see if you are happy with your present plan and rate.
I did not realize people changed providers that often.
My wife has past health problems so after 65 she would have more costly switching so hope to get it right the first time. I will be switching from Fhd to G. Did like the Boomer Benefit web and they are going to email me some prices.
Have you been happy long term with your medigap provider or do you change yearly for a better rate?
Thank you

I've had Plan G with Aetna for 3 years. I've had 2 small rate increases in the interim.

I was contacted by SeniorSavingsNetwork.org (Chris Westfall's excellent organization with whose help I made my original decision on Aetna as my Plan G insurer) to inquire whether I wanted to shop for a better rate or stay with Aetna. I chose to stay with Aetna as I've not had any issues with them, and the price difference in premiums was not yet significant.

omni

 

[Steve s]

Never really considered Advantage plans because of the networking.
I figure I will have to answer some health questions, which I have no issues at this time, to qualify for the preferred rate. But if I did not get the preferred rate I probably would not switch.

Have no issues with Bankers Fidelity and have a good rate was just wondering if individuals stay with their insurance providers or change every time they see a rate saving.
Individual at Boomer Benefits informed me if it is just a matter of going from fhd to g I could probably just call BF.
Thanks again.....steve