Medicare Supplement Rate Increase History

How often do Medicare supplement rates increase? What is average premium increase? Where can I find supplement plan rate histories? Do plan F Medigap rates increase more than other plans? Why are my rates so high?

All good questions but here is something you should know.

Tracking rate increase histories doesn’t matter. This video explains.

Medicare Supplement Rate Increase History

Why Medicare Supplement Rate Increase Histories Don’t Matter

Don’t worry about previous rates. The history of a particular plan or carrier does not allow you to predict future rate increases.

  • Renewal rates are market driven
  • Renewal rates also reflect loss ratios
  • Loss ratios impact renewal rates but are tempered by market share
  • Medigap carriers rarely stay in a particular market longer than 3 or 4 years
Medicare premium sticker shock
Medigap Rate Sticker Shock

Medicare supplement rates are market driven

During the last few years most carriers did not care about offering competitive plan F rates. This is especially true for “household” name brands. Carriers that market direct to consumers know folks will buy their product without shopping rates. Popular brands include Anthem Blue Cross, Mutual of Omaha and AARP/United Healthcare.

Name recognition, size and financial strength may be a consideration for most products. But this criteria does not extend to Medigap plans.

All Medicare supplement carriers pay claims on a timely basis. Most are paid in 3 to 5 days once the claim is received from Medicare.

When you pay more for your Medigap plan you don’t get more, you simply paid too much.

Some carriers that are new to the market are aggressively pricing their G plan. Don’t get sucked into a low entry rate. Ask #GAMedicareExpert Bob Vineyard for advice. Never any charge.

Loss ratios drive renewal rates

Some carriers will intentionally underprice their plans to attract market share. These plans and rates may be very competitive for a year or two before the renewal increases are double digit.

Don’t get lured into a low price offered by a carrier that has only been in the Georgia Medicare market a few years.

Low rates and loose underwriting will generate high loss ratios. What follows are huge rate increases and the possibility the carrier will withdraw completely from the market.

Medigap carriers come and go

As of May 2019 there are almost 50 carriers writing Medicare supplement plans in Georgia. Over the last 4 years or so we have seen at least 20 carriers leave the market and be replaced with lower priced plans. Often the departing carrier is owned by a large, brand name carrier. The parent company introduces another subsidiary with lower rates than the retired carrier.

Don’t get sucked into buying a plan from a carrier that is owned by a household name. That subsidiary will probably leave Georgia within 3 to 4 years. Future rate increases are almost always significantly higher than companies that are still writing new business.

Ask a Medicare expert for advice

Bob Vineyard has over 40 years in the health insurance industry and is also on Medicare. You have questions? We have answers.

Here is my offer.

Give me 10 to 15 minutes by phone to answer your questions. If you don’t feel comfortable with my approach or believe you can get better help and advice elsewhere, move on. We part as friends.

This isn’t personal, it’s just business.

But if you like what I have to offer and would like my help navigating the Medicare maze, let’s do business. Never any pressure. It is always at your pace.

This is what I call an offer you can’t refuse.

Make Sure Medicare Really Covers Your Hospital Observation Stay

Many Medicare patients are surprised to learn they weren’t officially admitted to the hospital—and they face big bills. Here’s how to avoid the problem.

Source: How to Make Sure Medicare Really Covers Your Hospital Stay

When admitted under hospital observation rules know this …….

  • This is a Medicare Part B covered expense
  • Straight Medicare pays 80%, you owe the other 20%
  • Plan F pays 100% of your approved observation stay
  • Your routine maintenance med’s are not covered by Part B
  • Your cost for the hospital to provide your maintenance med’s is considerably more than your normal cost
  • Medicare will not pay for nursing home or rehab if discharged from hospital observation to the SNF or rehab center

 

lagrange medigap ratesMany are surprised to learn that Medicare does NOT pay for a nursing home in most situations. Medicaid, not Medicare is the primary payer for most Georgia nursing home care. Medicare may cover the cost of a skilled nursing facility only if  it follows a hospital inpatient stay. – Does Medicare Pay For A Nursing Home?

 

Medicare supplement plan F pays 100% of your approved Medicare Part B expenses when admitted under hospital observation rules.

Medigap plan F rates as low as $131 for a non-tobacco female, age 65, zip code 30263.

Plan N starts at $89 monthly.

Shop and compare GA Medigap quotes

Georgia Medigap plans & Prices

Georgia Medigap plans & Prices

 

Many Medicare patients may find themselves paying more for their care following a hospital stay. A LOT more. If your hospital admission qualifies under Medicare rules, you are entitled to up to 20 days convalescent care that is covered by Medicare.

But some Medicare patients are short changed due to the way their hospital stay is coded. They can still go to a nursing home, but may have to pay hundreds or thousands of dollars up front. – Medicare Patients Face Bigger Bills

 

 

Last year during a routine exam Dan’s doctor noticed a change in his usual medical history and told Dan to have some cardiac Outpatient wardtests run at Northside Hospital. The test showed 90% blockage in his heart arteries. The doctor said he needed immediate bypass surgery.

St. Joseph’s Hospital is literally across the street from Northside. His doctors considered his situation so grave they ordered an ambulance to take him from the Northside ER to the St. Joseph ER, about 1,000 feet away.

Dan’s outpatient testing at Northside was covered by Part B. His admission to the St. Joseph ER was also covered under Medicare Part B. Admission as an inpatient to St. Joseph was a Medicare Part A expense.

Medicare at first denied his ambulance claim, then later approved it.

The cost of the 1,000 foot ride was $1700. – What Does Medicare Part B Cover?

 

Hospital observation status cancels out Medicare nursing home coverage


 

 

#MedicarePartB #HospitalObservation #MedicareSupplementPlanF

How Do I Find the Best Medicare Supplement Plan in Georgia?

Looking for the best Medicare supplement plan in Georgia? Where to start? How much will it cost? How can I save money but still have the best Medigap plan?

 

The best Medicare supplement plan in Georgia

The best plan is the one that meets your needs and budget. best medicare supplement plan

All Medigap plans assigned the same letter are identical in every way. Medicare says it. Look it up.

Every way except the premium you pay.

Over half the seniors that have a Medigap plan choose plan F.

Almost 3 out of 4 Georgia seniors buy their coverage from Blue Cross, AARP (United Healthcare) or the “Mutual” company.

Did they get the best Medicare supplement plan in Georgia?

No, they simply followed the crowd.

My mother used to say “If Greg jumped off a cliff would you want to also?”.

Just because your friends bought plan F from a “big name” carrier doesn’t mean it is the right choice for you.

 

Four things  you need to know about Medigap plans

Medicare supplement plan F is the most expensive plan available in Georgia.

Plans offered by the top 3 Medigap carriers in Georgia are some of the most expensive plans.

The more you pay for your plan the more money the carrier and the agent make off your monthly premium.

When you pay more you don’t get more, you simply paid too much.

 

So where do you start your search for the best Medicare supplement plan in Georgia?

You start where you are right now.

FB Groucho Marx3Bob Vineyard and Georgia Medicare Plans have access to over 170 different Medicare plans and rates. That’s a bit overwhelming.

But you don’t have to call insurance carriers or invite agents into your home. We shop the market for you and show you the best Medigap plans available based on your needs and budget.

And you can do this on your time frame, in the comfort of your home.

I don’t have to come to your home. You won’t have to come see me.

How easy is that?

I have been doing this a long time. This is not a hobby or sideline for me. This is the way I earn my living.

Two things happen when I treat you right.

You save money every month (unless you decide to follow the sheep).

We both sleep better at night.

You get to count your money saved rather than counting sheep.

 

How do you shop for the best plan?

It depends.

Do you want rates fast or faster?

If you want fast rates, complete and submit this request form. I will respond in 24 hours or less. [contact_form]

If you want faster rates, click the image below.

Easy peasy.

georgia medigap rates

 

Hospice Patients Aren’t Dying

Medicare has a problem. Hospice patients aren’t dying like they are supposed to. When you are approved for hospice you are expected to die within 6 months. When hospice patients don’t die, the cost to Medicare goes up.    hospice patients

Over the past decade, the number of “hospice survivors” in the United States has risen dramatically, in part because hospice companies earn more by recruiting patients who aren’t actually dying, a Washington Post investigation has found. Healthier patients are more profitable because they require fewer visits and stay enrolled longer.

Washington Post

Hospice patients that don’t die are big business for companies that care for the dying.

The hospice “movement,” once led by religious and community organizations, was evolving into a $17 billion industry dominated by for-profit companies. Much of that is paid for by the U.S. government — roughly $15 billion of industry revenue came from Medicare last year.

88% of hospice patient revenue is paid for with taxpayer dollars from Medicare. End of life care is big business.

Care for hospice patients is a covered expense under Medicare Part B. When you have original medicare and a Georgia Medicare supplement plan you are covered. Medigap plan F pays 100% of your approved Medicare Part B expenses.

Are you still paying too much for your Medicare supplement plan? If you have Medigap plan F from AARP (United Healthcare), Blue Cross of Georgia, or Mutual of Omaha you are probably paying more than you should.

Shop and compare your plan costs now.

GA Medigap Quotes

Do you want to know what Medicare covers if you are a hospice patient? Click to review Medicare Hospice Benefits.

At AseraCare, for example, one of the nation’s largest for-profit chains, hospice patients kept on living. About 78 percent of patients who enrolled at the Mobile, Ala., branch left the hospice’s care alive, according to company figures.

That’s good news for the patients and their families, but bad news for Medicare. One wonders if these runaway costs will catch the eye of lawmakers that will respond with reduced funding for hospice patients.

Would You Buy a Medigap Plan From This Guy?

Atticus Finch was the All American Dad, defender of the law and all around good guy.

atticus finch and scout

But would you buy a Medigap plan from Atticus Finch?

To Kill a Mockingbird. Great book. Great movie.

To Kill a Mockingbird is a movie I could watch over and over and never grow tired. Same for The African Queen and Casablanca. But I don’t know if I would buy a Medigap plan from Atticus, Charlie Alnutt or Rick Blaine.

We no longer have Andy Griffith pitching AARP Medicare plans. He has been replaced with Betty White.

I like Betty. Not only is she a funny lady but she was “hot” in her younger days.

But I would not suggest buying a Medigap plan from AARP just because Ben Matlock or Rose Nylund pushed it.

So how do you buy a Medigap plan? Do you pick a plan based on the commercials? Are you a careful shopper that compares plans and prices? Or do you listen to your friends and buy what they suggested?

 

How Do You Buy a Medigap Plan?

The right question is, how SHOULD you buy a Medigap plan?

Look around, ask your friends, shop and compare.

buy a Medigap plan

But how much do your friends really know about plans? Who did they talk to? How much shopping and comparing did they really do?

One thing is certain. If your friends bought Medicare supplement plan F from Blue Cross, Mutual of Omaha or AARP (United Healthcare) they didn’t really do their homework.

How do I know?

Because I have been in the health insurance market for 38 years and I would never overpay for a policy. I know where to find the best value. I know who plays tricks on the consumer by giving out a lowball rate and then jacking up the rates after you buy.

Charlie Alnutt

When you buy a Medigap plan,  wouldn’t it be nice to know if the carrier is going to raise rates in a few months on EVERYONE? Would it be helpful to know if the carrier is going to re-introduce their plans to new clients at rates that are 23% LESS than you paid a month earlier? Is it helpful to know there are as many as 14 carriers with lower rates for Medigap plan F than you get from a big carrier with a high profile spokesperson?

One thing in the world I hate: leeches. Filthy little devils.

Do your own research. Talk to Georgia Medicare Plans. Shop and compare. Save money.

 

Who Do You Trust When You Buy a Medigap Plan?

Personally, I liked sheriff Andy Taylor more than Ben Matlock. But if I were going to buy a Medigap plan it wouldn’t be something pitched by Andy Griffith or Betty White. Rose Nylund and Sue Ann Nivens were funny people, and Betty White is a lot smarter than the characters she plays, but how much does she really know about Medicare supplement plans?  sue ann nivens

Does she know why Medigap plan G is a better buy than plan F? Does she know that if you want plan G you can’t get it from AARP?

I’m sure your friends are really nice people and would never intentionally steer you wrong, but if you are going to buy plan F from anyone, including AARP, you need to reconsider.

If you haven’t taken a serious look at Medicare supplement plan G, put away your checkbook and take a deep breath. Before you buy a Medigap plan, especially plan F, give us a call. We have Medigap rates you won’t see anywhere else.

 

Rick Blaine or Atticus Finch?

Two great characters. Strong male authority figures.

rick blaineRick Blaine was a man of questionable character, loyal to himself and whoever was willing to pay him to do their dirty work. The charismatic Rick was neutral on the war. He provided a safe haven for ex-patriots like himself, but also allowed the Nazi’s to drink in his club.

Atticus Finch, well respected lawyer in a small town, single father to Jem and Scout, and totally color blind in a racially charged south.

If Atticus said something, you took him at his word. Gregory Peck as Atticus Finch cut a swathing figure in the court and as a marksman killing a mad dog with one shot. A gentle, but firm and fair father figure, the man just oozes credibility.

Would you buy a Medigap plan from either man?

If you bought from Rick it was probably out of fear. But if Atticus recommended a plan it would be out of respect. Gregory Peck as Atticus Finch

What does all this have to do with buying a Medigap plan?

No matter how you feel about recommendations from friends, or how much you may be swayed by warm and fuzzy commercials, or strong role models, do your own research.

You can start right here. Shop and compare Georgia Medigap rates from some of the top carriers. You will see Medicare supplement plans from Blue Cross and Mutual of Omaha (United of Omaha). We don’t have rates from AARP. They don’t allow agents to illustrate their rates online.

Mockingbirds don’t do anything but make music for us to enjoy. They don’t eat people’s gardens, don’t nest in the corncrib, they don’t do one thing but just sing their hearts out for us.

Georgia Medicare Plans has access to Medigap rates from over 20 different carriers. Do your research. Learn about different plans, but when you are ready to buy a Medigap plan, give us a call. Whatever rates you have seen already, we have even lower rates.

But you gotta ask.

This just might be the beginning of a beautiful friendship.

 

#BuyAMedigapPlan

#GeorgiaMedigapPlans

#MedicareSupplementPlanF

#AARPMedicareSupplement

#BlueCrossMedicareSupplement

#MutualOfOmahaMedicareSupplement