Medicare supplement rate increase is a popular topic. Two carriers that generate more questions than any are Mutual of Omaha and Blue Cross. “Is my Mutual of Omaha Medicare supplement rate increase out of line?”. “Why did my Blue Cross Medigap plan F rates go up so much?”. “Are Medicare supplement insurance plan F rates out of line?”.
For starters, everyone thinks they are paying too much for Medigap coverage.
But the fact is, they probably are overpaying. Almost every senior that calls me, looking for premium rate relief, can save money. Sometimes it may be as little as $500 per year and in other cases they save over $1,000 annually.
Compare rates from Mutual of Omaha and Blue Cross for Medicare supplement plan F. These are age 67, male and female, non-tobacco, zip code 31210 (Macon, Bibb county).
Mutual of Omaha, male – $182.58
Blue Cross, male – $155.00
Best available rate – $125.74
Mutual of Omaha, female – $164.41
Blue Cross, female – $155.00
Best available rate – $116.43
Which rate would you rather pay? How much could you save?
Mutual of Omaha had a 12% Medicare supplement rate increase in September, 2012. Blue Cross will increase their rates by 13.3% in January, 2013.
You can save even more by swapping your overpriced Medigap plan F for a different plan.
Stop throwing away good money for bad. Every dollar you save is money in your pocket.
The best way to fight a Medicare supplement rate increase is to shop your rate and pocket the savings. When you pay more you don’t get more, you simply paid too much.
Since this post was written in 2012 Mutual of Omaha has introduce a new carrier (Omaha Insurance Company) with lower rates for new applicants only. Policyholders with older (United of Omaha) plans are paying higher rates than those quoted above.
Blue Cross has increased rates at least twice since 2012.
You can view current rates for plans in your area using the form below.
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