Plan G Annual Increases?

Midpack

Midpack

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Jan 21, 2008
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Just wondered if this looks like the normal progression for Medicare Supplement premiums? Neither of us have cost Mutual of Omaha much in payments (Medicare paid most of our healthcare expenses). But I've had a more serious condition that started last year - and I wonder if that influenced the 24% increase I'm facing this year even though once again Medicare paid almost all the expenses, and MoO very little? I want to avoid ending up in a sick duck pool (or minimize the accumulated hit), but as I understand it I will only have one chance to switch to a cheaper plan IF I find myself considered higher risk than my cohorts - so I don't want to waste my one chance. We haven't been notified of an increase in DW's premium for 2025, that may come.

I put a call in to Boomer Benefits to get their take, but haven't heard from them yet, only been a day.

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audreyh1 said:
They are influenced by age (+inflation), gender, and the group you are in.
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And state laws affecting Medicare, very liberal laws allowing supplement switching = much higher supplement premiums.
 
foxcreek9 said:
And state laws affecting Medicare, very liberal laws allowing supplement switching = much higher supplement premiums.
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Only a ~ states allow that and some are quite restrictive. If your state does not then it’s not a factor.
 
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DW age 73 premium (Aetna) = $227 Me age 72 premium = $178 (Pan American). DW has never changed plans - initial premium in 2017 was $97 as was mine. I switched from Aetna to Pan American about 2019. Mine jumped from $146 (2023) to $178 in 2024. DW jumped from $197 to $227. I've never heard of the "only switch once" thing. So far, no increase this year over 2024 for either of us.
 
AudiDudi said:
DW age 73 premium (Aetna) = $227 Me age 72 premium = $178 (Pan American). DW has never changed plans - initial premium in 2017 was $97 as was mine. I switched from Aetna to Pan American about 2019. Mine jumped from $146 (2023) to $178 in 2024. DW jumped from $197 to $227. I've never heard of the "only switch once" thing. So far, no increase this year over 2024 for either of us.
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The only switch once trick involves switching to a Medicare Advantage plan and then switching back to a new Medigap plan within 6 months. This was set up to allow a Medicare Advantage try out period, and you can switch back to traditional Medicare without underwriting which also lets you switch back to a different Medigap plan if you wish. You are only allowed to do this one time.

Beyond this one time trick, some states allow switching between Medigap plans with varying constraints. Other states require underwriting. Some people pass underwriting and are able to switch to a less expensive plan. Others don’t pass and are stuck.
 
AudiDudi said:
DW age 73 premium (Aetna) = $227 Me age 72 premium = $178 (Pan American). DW has never changed plans - initial premium in 2017 was $97 as was mine. I switched from Aetna to Pan American about 2019. Mine jumped from $146 (2023) to $178 in 2024. DW jumped from $197 to $227. I've never heard of the "only switch once" thing. So far, no increase this year over 2024 for either of us.
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Already paying $220 monthly for Medigap UHC G at 65 y.o.
Wonder what the premium will be at 73?
 
Wife just got her letter from UHC for her plan G increase and it’s about a 10% increase in June to around $159. However, it will be less as I just signed up and not sure what she will get for the multi person discount. My age 65 with discounts is about $125.
 
anethum said:
Do you have any evidence to support this?
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Some states are very liberal, like New York for example, and have very high Medigap prices because someone can switch from something like a G-HD to a more comprehensive lower deductible regular G without underwriting. And people do this, using the cheapest plans until they need more medical care. Most other states have restrictions like you can’t switch between plans or from a lesser benefit plan to a greater one, but you can switch between companies around your birthday without underwriting. Others are even more restrictive in terms of switching between companies without underwriting. And then most do not allow switching without underwriting once you are past the initial enrollment period.
 
Dtail said:
Already paying $220 monthly for Medigap UHC G at 65 y.o.
Wonder what the premium will be at 73?
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Wow, that seems high. At 65 I am paying $115 with a multi-insured discount. I think the multi-insured discount (both AARP members) for each of us was 7%. Also gender and state/county make a difference. I got the plain vanilla Plan G, not the one including gym access.
 
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Our increase this year was about 15%. Past increases weren’t as high so I don’t know if it’s our increasing age or increasing cost (total cost, not our specific cost) that driving it this year.

I’m looking forward to next year. Because I’m under 65 (due to disability) my plan is rated different and is $604/mo and it’s increasing to $690. Next year I’ll be 65 and it will go down considerably. It should be more like $250-$300.
 
audreyh1 said:
Some states are very liberal, like New York for example, and have very high Medigap prices because someone can switch from something like a G-HD to a more comprehensive lower deductible regular G without underwriting. And people do this, using the cheapest plans until they need more medical care. Most other states have restrictions like you can’t switch between plans or from a lesser benefit plan to a greater one, but you can switch between companies around your birthday without underwriting. Others are even more restrictive in terms of switching between companies without underwriting. And then most do not allow switching without underwriting once you are past the initial enrollment period.
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New York Medigap plans are community-rated which can make plans for 70 year olds look expensive but look cheap for 95 year olds. Plus, NY is a HCOL state, as is California, which also has a birthday rule.

Louisiana is a LCOL state and Medigap Plan rates look pretty cheap there despite having a birthday rule.
 
Washington State - High Deductible F - rates have remained steady at $67 since starting in 2019. Haven't come close to meeting the deductible despite a broken wrist in 2023 and melanoma surgery in 2024.
 
I look at the amounts my plan pays and wonder how they manage on what I pay in premiums. I realize of course, that it's evened out among big "users" like me and those who are never sick.
 
audreyh1 said:
Wow, that seems high. At 65 I am paying $115 with a multi-insured discount. I think the multi-insured discount (both AARP members) for each of us was 7%. Also gender and state/county make a difference. I got the plain vanilla Plan G, not the one including gym access.
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Yeah does seem high. No multi discount. Will get that next year.
 
MofO got greedy so switched to Medico (new to Wash) save $60/mon for each of us--Plan G (188/mon) Medico EOB much easier to read
 
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