Medicare Supplement Rate Increase History

May 8, 2019 by Leave a Comment

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.

Filed Under: Georgia Medigap Rates, Medicare supplement plan F, Medicare Supplement Plans, Medicare supplement rates Georgia, Medigap rates Georgia Tagged With: , , , , ,

Georgia Medicare Gives Thanks

December 10, 2018 by Leave a Comment

Georgia Medicare Looks at 2018

As Dickens said, “This is the best of times and the worst of times.” Like all years, there are times when things are good and times when things are not so good. From a business perspective I would give this year a 9 on a scale of 10. Georgia Medicare expert reflects on 2018.

Georgia Medicare expert
Turning 65 Medicare Options

The Good News

Georgia Medicare supplement clients continue to bless me with referrals. My business grows mostly by word of mouth. When my advice is useful clients remember and pass my name along to their friends.

Like that old shampoo commercial where Heather Locklear told two friends about Faberge, and they told two friends, and so on.

Good new spreads like wildfire, and it is appreciated. With more than 500 GA Medicare clients, new referrals come in almost every month.

Thank you for being generous and sharing my name with your friends.

Georgia Medicare YouTube Channel

After years of planning and hoping it would happen, I finally implemented my Georgia Medicare YouTube channel in early summer. With the help of Christy Sanchez this labor of love is now a reality.

The videos are not fancy or technically complicated. It’s just me talking to the camera the same way I speak to you on the phone. Feel free to like, share and comment on any of the videos.

Of course you can also ask questions.

Say Hello to New Medigap Carriers

I currently count almost 60 insurance carriers offering Medicare supplement plans in Georgia. Many are brand new to the Medigap business. Others are new to Georgia.

At least 6 carriers are new to the Georgia Medicare market. Each one has cut rates to the bone in an attempt to gain market share.

It’s a race to see who can offer the lowest Medigap rate.

For at least a year.

New carriers include Lumico, Western United (late 2017), Everest (late 2016), American Continental, Prosperity (gotta love that name), Mass Mutual, Unified and Pan American. I might have missed a few but that’s a mouthful.

I generally don’t recommend a carrier until they have been here at least 3 years. In the past carriers (like AFLAC) have either disappeared from the market or blew up their rates on renewal in the first 3 years.

I don’t need that kind of drama in my life and neither do you.

Say Hello to a New Name for an Old Friend

One shining star is Anthem Blue Cross. BCBSGA has been co-branded with parent Anthem for a few years now. As of July 2018 the Anthem name is on all new Medicare plans in Georgia.

Of course you can call them direct or use an agent like myself. When you go direct you are a “house account”. You will never know who will answer the phone or anything about them. 

Last week they could have been asking if you wanted fries with your meal.

When you call me you will never hear “Press 1 for English”. You get me or voice mail. Leave a message and I will call you back.

No extra charge for my 40+ years experience.

You can enroll in an Anthem Medigap plan using my link . . . if you have an hour or so to kill. 

https://brokerportal.anthem.com/ac/BobVineyardAnthemGA

Or call me direct. I can take your information in about 10 minutes.

You choose.

The Bad News

A few carriers like Equitable, Manhattan and Aetna Health and Life stopped writing new Medigap business in Georgia. If you have a plan with them you can keep it as long as you pay your premiums.

I hope to move as many as possible away from these carriers in hopes of seeing fewer and smaller rate increases at renewal.

Thank You!

Thank you for all your support, for passing my name along and especially the kind words for my Georgia Medicare YouTube Channel.

I look foward to helping as many people as possible to navigate the Georgia  Medicare maze.

Filed Under: Georgia Medicare Supplement Plans, Georgia Medigap Rates, Medicare Supplement Plans, Medicare supplement rates Georgia, Medigap rates Georgia, Turning age 65 Tagged With: , , , , , , , , ,

Answers to Common Medicare Questions

June 23, 2018 by Leave a Comment
I have answers to your most common Medicare questions. Here are just a few examples of questions asked by people just like you who are turning 65.

  • How do I know which Medicare plan is right for me?
  • When should I enroll in Medicare?
  • Should I have the same plan as my spouse?
  • How much does Medicare cost?
  • Does Medicare cover (fill in the blank)?

Many of your questions can be answered by copying this into your Google search bar – site:http://www.georgia-medicareplans.com

Answers to Common Medicare Questions

 

Answers to Common Medicare Questions

Below are links that correspond to the questions shown above.

  • https://www.georgia-medicareplans.com/ufaqs/find-right-medicare-plan/
  • https://www.georgia-medicareplans.com/enroll-in-medicare-at-age-65/
  • https://www.georgia-medicareplans.com/medicare-traps-and-mistakes/
  • https://www.georgia-medicareplans.com/ufaqs/how-much-do-medicare-premiums-cost/
  • https://www.georgia-medicareplans.com/does-medicare-cover-my-cancer-treatment/

You have Medicare Questions.

I have answers.

Give Bob Vineyard a call. I would love to help. (404) 252-5859

 

Filed Under: Age 65 initial enrollment Medicare, Georgia Medigap Rates, Medicare Tagged With: , , , , , ,

Medicare Drug Plan Finder

October 19, 2016 by
Using the Medicare Drug Plan Finder can be challenging. You can do it yourself, ask an agent, ask the Medicare drug plan carrier or call 1-800-MEDICARE (1-800-633-4227).

We will show you

  • step by step how to navigate the Medicare Plan Finder site
  • how to compare drug plan results side by side
  • eliminate plans with deductibles
  • choose plans where all your drugs on on the formulary
  • find pharmacy’s with the lowest drug costs
  • where to find the estimated drug copay’s
  • how and where to enroll in a Medicare drug plan
  • compare prices using a discount drug card
  • finding prices at Canadian pharmacy’s

The entire process is more frightening than filling out your taxes but with a little practice you will figure it out. By the time you do it again during the next open enrollment you will have forgotten everything you learned.

So bookmark this page when it is time to renew your plan and you can fly through the process like a pro.

 

We are happy to run reports for our existing Medicare supplement clients.

  • We collect your drug information
  • Run reports for you based on all 24 plans in Georgia
  • Send the reports to you by email complete with a recommendation for the lowest combination of drug plan and pharmacy

Or you can call Medicare.

OK, this may not be as fun as talking with Jake from State Farm but it can still save you money.

jake-from-state-farm

Medicare Drug Plan Finder 2018 Update

As challenging as this process was for 2017, it is even more difficult for 2018 plans.

Drugs on Medicare may show as not on the formulary. Call the carrier and get a different response.

To maximize savings you may need to change pharmacy’s. One client will save almost $4,000 in 2018 by using a different pharmacy!

MAJOR discrepancies in results on Medicare.gov and carrier sites. Calling the carrier can be more confusing. Each time you call you get a different answer.

Good luck!

 

Medicare Drug Plan Finder for the Do It Yourself Person

For those who like to do it themselves here is a step by step guide to using the Medicare Drug Plan Finder.

Click this link to go to the plan finder.

https://www.medicare.gov/find-a-plan/questions/home.aspx

You can also click the General Search image below.

Enter your zip in the box Search. Click Find Plan.

Medicare Drug Plan Finder

 

Select how you get your Medicare coverage.

Most people will select Original Medicare and I Don’t Get Any Extra Help.

medicare-plan-finder-2

Click Continue to Plan Results.

Now the fun starts.

Have all your medicine bottles lined up before moving to the next section.

Medicare drug plan finder

 

Prescription Drugs You Take

Enter the name(s) of each medication, click Find My Drug.

Choose the drug name and dosage you take. Also check off how often filled, quantity and whether you get your drugs at retail or mail order.

Repeat the process for each drug.

Note you can change the dose, add or remove the drug from your list using the buttons.

Make a note of your Drug List ID and Password Date. You will refer back to this in the future.

Then click My Drug List Is Complete.

medicare-plan-finder-3

 

Choose your pharmacy(s).

If you want to compare prices by pharmacy, pick any two.

medicare-plan-finder-4

 

Click Continue to Plan Results

medicare-plan-finder-5

 

Check off Prescription Drug Plans with Original Medicare

Click Continue to Plan Results

The next page should look like this. If it doesn’t you have done something wrong. Go back.

Make sure the results (below) are for the correct year. The image below was taken in October, 2016 so the default is to illustrate the 2017 plans. If you need to view the current year, click that button.

You will notice your Drug List ID and Password Date follow you through the process.

 

medicare-plan-finder-6

 

When you get to the Medicare drug plan page (above), scroll down until you see the options (below)

Select two or three plans that appeal to you, the click Compare Plans

medicare-plan-finder-7

 

The plans you want to compare will appear side by side.

You should use your browser setting to print this page. If you know how to print and save as a PDF you should do so and save it on your computer where you can find it again.

medicare-plan-finder-8

Notice I chose the plan with the lowest drug cost (Envision). The Envision plan has a deductible, so I picked the next lowest cost plan (Silver Script) that does not have a deductible.

Some (but not all) plans do not apply the deductible to tier 1 and tier 2 medications when using a preferred pharmacy. Be sure you know the difference.

Often, but not always, plans that have a deductible will have lower copay’s than plans that do not have a deductible.

 

View Monthly Drug Plan Costs

Scroll down until you see the Estimated Monthly Drug Costs

medicare-plan-finder-9

 

The monthly costs include your premium plus the estimated cost of your drugs. If you go into the donut hole that will appear in the monthly printout (above).

If you want to see the estimated copay for each of your medications, click the View monthly drug cost details by selected drugs link.

medicare-plan-finder-10

 

Note the drug copay’s are estimated and do not reflect higher costs due to deductibles or increased costs when you are in the donut hole.

 

Dig Deeper

If you want to really take this drug plan report for a test drive, check out some other neat things you can do.

Go back to the browser frame where the monthly drug costs are shown side by side. Scroll down until you see this section (below).

medicare-plan-finder-11

 

Note the tier level for each of your drugs. It won’t always be the same from carrier to carrier.

Click Print My Drug List.

Click Print Comparison Report.

The Drug List shows all the drugs you have entered by name, dosage, etc.

The Comparison Report can be customized to show only information that is relevant to your situation.

 

Finding the Lowest Drug Prices

Sometimes you have to work a bit to find the absolute lowest drug costs. There are times when you want to purchase 30 or 90 day supplies at retail. Maintenance drugs may (or may not) be cheaper by mail.

 

Current clients of Georgia Medicare Plans can stop right now.

If you purchased a Medigap plan through us do this.

Email me your Drug List ID and Password Date. Give your current zip code and county of residence. I will run your report (based on your Drug List ID and Password Date) then search for ways to cut your drug costs using mail order and discount cards.

Not a current client? Shameless plug here. Let us help you find the best Medigap plan that fits your needs and budget.

GA Medigap Rates

For next year plans I will only do this from October 1 through November 7. After that date I may not have time to perform this service, so no guarantees.

If you are not a current client, proceed as follows.

 

Your Medicare Drug Plan Finder will show you which plans save money when you order by mail.

But wait, there’s more.

Consider ordering drugs from Canada. We have personally used and recommended Blue Sky for years.

You can also save money by using a drug discount coupon from GoodRx. You have the option of going online and printing out a coupon, downloading an app for your smartphone, or requesting an ID card you can carry in your wallet.

 

Decide How You Want to Purchase Your Drugs

Get a piece of paper.

  • Make 4 columns
  • Write down each drug in column one
  • Enter the cost of the drug using your drug plan – See call the carrier (below)
  • Repeat this process for each drug from Canada and again using GoodRx
  • Go back to your Medicare Drug Plan report and remove the drugs purchased from Canada or using GoodRx
  • Run the report again

If you use insulin, most Canadian pharmacy’s will not ship it to you. Insulin prices in the US, even with a Medicare drug plan or discount card are crazy expensive. We have found one Canadian pharmacy that stocks and ships insulin direct to you.

https://rxcanada4less.com/

Check insulin pricing before enrolling in a Medicare Part D plan.

Now you are ready to sign up for a drug plan.

Almost.

Before you enroll in a plan, call the carrier you think you want to use.

  • Give them a list of all your drugs including dosage
  • Ask them for their preferred pharmacy’s – Compare that to your Medicare report
  • Which drugs (if any) are subject to the deductible (if the plan has a deductible)
  • Ask for the initial coverage copay for each drug
  • If a deductible applies, ask for the cost with and without the deductible
  • Ask for your cost if/when you are in the donut hole
  • Write all this down
  • Do NOT enroll yet – You are still not done

Now that you have the copay for each drug from the carrier you think you want to use, go back to your piece of paper with the drug prices.

 

Enroll in a Medicare Drug Plan

Now that you have all your information it is time to enroll in a drug plan.

  • You can enroll direct with the carrier by clicking the Enroll button on the Medicare site
  • Better suggestion is to call 1-800-MEDICARE (1-800-633-4227)
  • 800 MEDICARE is open 24/7 except federal holidays – You can even call at 3AM
  • You can also enroll direct with a carrier by phone or on their site

I have been advising clients to enroll via 1-800-MEDICARE for years and have had no complaints. When you follow my step by step instructions you can be enrolled in a drug plan in less than 15 minutes.

No hassle. No sales pitches.

 

Finding a Medicare Drug Plan

It will probably take you longer to read this post than it will to use the plan finder. With over 400 clients spread all over the state of Georgia, I don’t have the time to help everyone the way I would like to. By asking you, my client, to do the front end work I can still help others find a Medigap plan that fits their needs and budget without totally abandoning my existing clients.

Here are the steps you need to take to use the Medicare Drug Plan Finder

  • Go to the plan finder
  • Enter your zip and check off how you get your Medicare benefits
  • Input your current medications
  • Choose a pharmacy
  • Review the results

If you take fewer than 5 medications it will take you about 15 minutes to get results. More than 5 will take a bit longer.

If you find this helpful, share this link with your friends. Thanks, and have a great day!

 

#MedicareDrugPlanFinder #GoodRx  #MedicareOpenEnrollment #DrugsFromCanada #GeorgiaMedicarePlans #GAMedigapRates 

Filed Under: Medicare Tagged With: , , , , , , ,

Medigap Plans and Rates Georgia

April 12, 2016 by

Medigap plans in Georgia.

Georgia Medigap plans. Stop throwing money away!

Shop and compare up to 40 Medigap plans in 60 seconds. Free, no obligation quote. Save $350 – $600 per year or more vs. Blue Cross, Humana, Mutual of Omaha and most others.

Click for Instant GA Medigap Quote

GA Medigap Quotes

With over a dozen carriers offering Medigap plans, Georgia seniors have plenty of options to save money by making wise choices and finding the lowest Medigap rate.

With more than 240 different Medigap plans in Georgia, you need our FREE report.

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

Compare Georgia Medigap Plans and Rates

There are 11 different Medigap plans available in Georgia. None of the carriers offer all plans, but most offer Medigap plans A, D and plan F. Medigap rates vary considerably for the same plan. Georgia Medigap carriers include:

 

Anthem Blue Cross and More

Blue Cross, United of Omaha and United Health Care are the dominant Medicare supplement carriers in Georgia but they also have some of the highest Medigap rates.

Most GA seniors buy Medicare supplement plan F simply because that is the one that is sold to them. Many times Medigap plan F is presented as the only option or as the “best” option.

Truth is, Medicare supplement plan F is usually the most expensive plan and delivers no additional value for the high rates.

All Medigap plans with the same letter have identical coverage. A plan F from Blue Cross is no better or worse than plan F from United Health Care (AARP).

The only difference is the price you pay. Medigap rates can vary as much as 200% for the same plan.

An age 65 female in Atlanta can pay anywhere from $139 per month to $296 for plan F. The difference in the highest premium to the lowest premium is over $3000 per year!

That  $3000  is money down the drain.

That same female can purchase a Medicare supplement plan G for as little as $110 per month, saving an extra $250 per year in premiums vs. the lowest rate for Medigap plan F.

When you pay more for GA Medigap plans you don’t get more, you simply paid too much. Compare plans and Medigap plans and rates online or ask for a personalized proposal.

 

#MedicareSupplementRatesGeorgia  #MedigapRatesGeorgia #BobVineyard

(Edit)

Filed Under: Georgia Medicare Supplement Plans, Georgia Medigap Rates Tagged With: , , ,

Hospital Admission – In or Out?

January 7, 2016 by
Original Medicare offers excellent hospital admission coverage under Medicare Part A. But how is your hospital bill treated under Part B? Are you in or out?

  • Full Part A coverage for up to 60 days following a deductible of $1288 per hospital admission
  • Full Part A coverage for up to 100 days in a Skilled Nursing Facility (SNF)
  • Full Part A coverage for up to 100 days for home health care

Each of the above are true but only if they follow hospital admission as an INPATIENT (Medicare Part A) for at least 3 consecutive days prior to your SNF stay or home health care.hospital admission

But what if you were never admitted as an inpatient and your observation stay was covered by Medicare Part B?

What is my liability for out of pocket costs if my hospital admission was a Part B stay?

 

Hospital Admission – In or Out?

Consider the case of Caroline Giada.

On the morning of Sept. 23, 2014, Caroline Giada woke up in her home in coastal New Jersey. She rose from bed, walked over to the bathroom and fainted, hitting her back on the sink cabinet on the way down. When she came to, she couldn’t move. So she called 911.

The 76-year-old was taken to the emergency room, where the attending nurses looked her over and booked her into a bed. Over the next six days, she was given every kind of test imaginable: X-rays, electrocardiogram, CT scan, ultrasound, MRI. Nurses came and went. So did doctors. Finally, a week later, the problem was uncovered: a fracture in the L5 segment of Giada’s lower spine. They called in a specialist, but he said he couldn’t operate until the following Thursday.

After her surgery and rehab, when she was ready to go home, Giada was hit with another surprise: a bill. Medicare had covered the surgery and the rehab, but not the nursing facility stay, and the facility told her she owed $2,360. “I couldn’t understand it,” says Giada. “They said, ‘Well, Medicare isn’t paying, because the hospital put you under observation instead of as an inpatient.’” – America Aljazeera

Had Caroline been admitted as a hospital inpatient, her nursing facility stay would have been covered in full. Instead she was faced with a significant outpatient bill.

 

If You Have Medicare, Ask!

Are you considered an inpatient or outpatient?

If you don’t know, ASK!

Medicare does cover outpatient services subject to an annual deductible ($166 in 2016) and coinsurance (you pay 20%, Medicare pays 80%). Unlike traditional insurance that caps your out of pocket, you responsibility for Part B expenses have no cap.

You continue paying 20% until you are well, you run out of money, or you die.

Look what Medicare covers.

Medicare supplement plan F will pay your Part A deductible ($1288 in 2016), your Part B deductible ($166 in 2016) as well as your 20% share. With original Medicare and Medigap plan F your out of pocket for approved Medicare Part B charges is $0.

shopCompareBig_new2

Hospital Notification Changes

The  Notice of Observation Treatment and Implication for Care Eligibility Act was signed into law in August, 2015 and will go into effect in August, 2016.

Medicare beneficiaries in the hospital for more than 24 hours must be informed in writing of their hospital admission status within 36 hours of when they begin receiving medical services as an outpatient. The written notice must clearly explain:

  • that the individual is not an inpatient;
  • the reasons for the person’s observation status; and
  • the implications in terms of increased financial responsibility and lack of eligibility for coverage in a SNF after discharge.

The patient or their representative must sign the notice to acknowledge their understanding.

When was the last time you reviewed your Medicare supplement plan? Get a free instant Georgia Medigap quote. No obligation.

We will also send you a Medigap Transparency Report showing rates for all Medicare supplement carriers in your area. Most quote engines, including ours, only show a few plans. But there are more than 40 carriers offering Medigap plans in Georgia. See which ones have the best rates!

shopCompareBig_new2

 

#GAMedigapRates  #HospitalAdmission #MedicarePartB

 

Filed Under: Medicare, Part A Tagged With: , , , ,

GA Medigap Rates March 2015

March 8, 2015 by
GA Medigap rates are increasing for some carriers in the next few months. Lock in lower rates now. Prepare for increases on grumpy old personrenewal. Continental Life closing their block. Aetna introducing new, lower rates. New Era Medigap rates increasing slightly. Manhattan Life rates jump.

Click to shop and compare GA Medigap rates now.

GA Medigap rates

 

Aetna GA Medigap rates

History teaches us that when a carrier closes out a line of coverage, or stops issuing new plans, the rates increase. In some cases rate adjustments are slight at first but pick up steam over the next few years.

In 2010 Mutual of Omaha introduced Medigap plan N for the first time. Less than a year later they pulled the plan off the market and began increasing rates at a steady clip. In some years plan N rates increased by double digits. If you bought a Mutual of Omaha plan N in 2010 you probably can no longer afford it.

In 2011 Aetna offered Medicare supplement plans using a Continental Life as a subsidiary issuing carrier. An age 65 female in Macon, Georgia would be expected to pay a non-tobacco rate of $145.

Today that same plan through Continental would be $175.

Aetna Health and Life is currently offering that same Medigap plan F for $126.

GA Medigap rates

 

 

New Era Medigap quotes

New Era is one of those carriers you don’t hear much about. About 40 years old with 10+ years in the Medicare supplement market (including 5 in Georgia), you won’t find their rates on most instant quote engines.

Medicare supplement plan F ratesMost Medicare shoppers looking for instant rates believe they should limit themselves to the “brand name” carriers like Blue Cross, Mutual of Omaha and United Healthcare (co-branded with AARP).

The 2015 edition of Choosing a Medigap Policy tells you on page 9.

All Medigap policies must follow federal and state laws designed
to protect you, and policies must be clearly identified as “Medicare
Supplement Insurance.” Medigap insurance companies in most
states can only sell you a “standardized” Medigap policy identified by
letters A through N. Each standardized Medigap policy must offer
the same basic benefits, no matter which insurance company sells it.
Cost is usually the only difference between Medigap policies with
the same letter sold by different insurance companies.

That’s pretty simple and easy to understand. In other words, what CMS is saying is this.

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

We have been using New Era consistently for  years and will gladly share their rates with prospective clients. The recent 3% increase in GA Medigap rates is the lowest we have seen for any carrier in the last 5 years.

Georgia Medigap plans & Prices

Georgia Medigap plans & Prices

 

Manhattan Life Medicare supplement rates

Manhattan Life is a 100+ year old company with a storied past but they are new to the Medigap business. They entered the GA market a little over a year ago and took off like a bandit. Their plan F rates were among the lowest in the state at younger ages and in certain zip codes.

Our 65 year old female in Macon could buy Medigap plan F from Manhattan for as little as $115 when household discounts are applied.

In May of this year Manhattan Life Medigap rates for plan F will increase by 9%. In some situations those rates are still competitive but you need to take into account we have not seen that kind of rate increase from anyone (other than Continental) in almost 2 years.

 

GA Medigap rates, last 5 years

The last few years have been interesting times.

Aetna bought Continental, dropped their rates significantly, and suddenly started writing new business.affordable medigap plans

The Duck (AFLAC) entered the Medigap market for the second or third time in 2012 and then disappeared in 2013. If you bought an AFLAC policy then and didn’t change to another carrier when you could you are probably paying too much now.

In the early part of 2010 Mutual of Omaha was issuing Medigap plans in Georgia under the United World umbrella. That came to an end in the summer of 2010 when they introduced United of Omaha with “new lower rates” (but only for new applicants). In October of 2013 Omaha Insurance Company was rolled out with “new lower rates”.

At the end of 2012 Blue Cross of Georgia withdrew plans G and Hi F. In January, 2014 they changed their rating structure and started charging more for males vs. females  and added a higher rate for tobacco users. It didn’t help since they are still not competitive.

If you bought one of these Medicare supplement plans and can qualify for new coverage, you probably should check your rates. We just save Ted in Clermont, GA over $100 per month by switching him off his old, old Mutual of Omaha plan F.

Shop and compare GA Medigap rates now.

Your information is never sold

 

#GAMedigapQuotes #AetnaMedicareSupplementRates #NewEraMedigap #ManhattanLifeMedigap

Filed Under: Georgia Medigap Rates Tagged With: , , , , ,

Can I Change My Medigap Plan?

July 26, 2013 by
Georgia seniors ask, “Can I change my Medigap plan?”. Which Medicare supplement plan is best? How do I find the best rate for can I change my medigap planMedigap plan F? Instant free quotes. Compare Medigap costs in 60 seconds. PLUS get access to our FREE report showing ALL rates and plans based on your age and zip.

 

Can I change my Medigap plan?

The short answer is, you are eligible to buy a new plan or change your Medigap plan at any time. Unlike Medicare Advantage plans, there are no annual enrollment periods.

The best time to buy or change your Medigap plan is when you initially sign up for Medicare Part A and B which usually occurs at age 65.

You also have guaranteed issue rights to buy a Medicare supplement plan.

Before asking “Can I change my Medigap plan?” you should compare Medigap costs.

 

Shop and compare Medigap costs

Ignore the hype. All Medicare supplement plans with the same letter are identical in every way except premium. Click the image below to shop and compare Medigap costs. Instant free quote.

shop and compare medigap costs

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

 

Which Medicare supplement plan is best?

Medicare supplement plans have standardized benefit structures. Once you pick a plan design that fits your needs, the only other consideration is can you find a plan to fit your budget?

 

How do I find the best rate for Medigap plan F?

The easiest way is to shop and compare online, but you probably will not see the best rates. Many Medigap carriers do not allow their rates to be published online.

How do you know plan F is best for you?

Did you know that almost 70% of Georgia seniors buy Medicare supplement plan F simply because that was the only plan that was explained?

If you wanted to buy a car, and the salesman only showed you 4 wheel drive SUV’s, would you be satisfied?

Most of my clients NEVER buy Medigap plan F. Do you know why?

Bob Vineyard and Georgia Medicare plans have access to rates from some of the lowest cost plans in Georgia. Ask for a personalized Medicare supplement quote.

Final notes

If you have Medigap plan F, you definitely should consider making a change in your Medigap plan.

When you bought your Medigap plan, did you buy from Blue Cross, Mutual of Omaha or United Healthcare (AARP)? If so, you probably are paying too much.

Maybe you bought a Medicare Advantage plan. The low premium seemed like a good idea at the time. The REAL cost of an Advantage plan is how much you pay when you receive medical care.

Advantage plans are great until you use them.

Can I change my Medigap plan?

You decide.

 

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Filed Under: BCBSGA rates, Medicare, Medicare supplement plan F, Medicare supplemental insurance rates in Georgia, Medigap Plan F, Medigap rates Georgia Tagged With: , , , , ,

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