Ga Medigap Rates Archives | Georgia Medicare Plans

When Medicare Supplement Rate Increases are Outrageous

Bob Vineyard · March 18, 2020 · 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?

Shop Georgia Medigap rates. Follow the link below to compare rates.

https://www.gamedigaprates.com/

All good questions but here is something you should know.

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

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 supplement rate increase history — Medigap Rate Sticker Shock

Medicare supplement rate increases are market driven

During the last few years most Medigap 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, Aetna 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 Medicare supplement rate increases

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.

When that happens Medicare supplement rate increases change by double digits.

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 45 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.

#MedicareSupplementRateIncreaseHistory #MedigapRateIncreaseHistory #GAMedicarePlans

When Can I Change My Medicare Plan in 2020?

Bob Vineyard · February 24, 2020 ·

Georgia seniors ask, “When can I change my Medicare plan?”. Which Medicare supplement plan is best? How do I find the best rate for Medicare supplement 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 Medicare plan?

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

Is the best time to buy or change my Medicare plan is when I initially sign up for Medicare? Or can I swap plans at any time?

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.

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.

Can I Drop my Medicare Advantage Plan Anytime?

To switch to a new Medicare Advantage Plan, simply join the plan you choose during one of the enrollment periods. You’ll be disenrolled automatically from your old plan when your new plan’s coverage begins.

Unless you have other drug coverage, you should carefully consider Medicare prescription drug coverage (Part D). You may also want to consider a Medicare Supplement Insurance (Medigap) policy. Remember, you may only be able to switch at certain times of the year.

When are the Medicare Enrollment Periods?

January 1 to March 31 – General enrollment for Medicare Part B, for people who didn’t sign up when they were first eligible (this is also the general enrollment period for people who have to pay premiums for Medicare Part A and didn’t sign up when first eligible).

January 1 to March 31 – Medicare Advantage open enrollment period: People who already have Medicare Advantage can switch to Original Medicare (plus a Part D prescription drug plan) or to a different Medicare Advantage plan.

October 15 to December 7 – Open enrollment for Medicare Advantage and Part D.

Don’t disenroll from a Medicare Advantage plan until you know for certain you can qualify for a Medigap plan.

Final notes

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

#CanIChangeMyMedicarePlan

#GAMedigapRates

#GeorgiaMedicareSupplementPlans

How to Find the BEST Medicare Plan?

Bob Vineyard · June 27, 2019 · Leave a Comment

How do you find the BEST Medicare plan in Georgia? The one that is right for you AND your budget? GA Medicare expert Bob Vineyard explains.I did not say look for the lowest PREMIUM. I said BEST plan. Something that fits and is just right for you. Fits you like a glove . . .

find the medicare plan that is right for you — **The One That is Right For You**

Which is a better FIT for you? Original Medicare and a supplement plan, or an Advantage plan? Don’t let ANYONE try and SELL you something you don’t need, don’t want and can’t afford.

BEST Medicare Plans in Georgia

Where do you find the BEST GA Medicare plans?

Lucky you. We have a video that explains what you need to look for, what you need to avoid, and how to escape the pushy insurance agent.

Find the BEST Medicare Plan – An Offer You Can’t Refuse

Original Medicare and a supplement plan, or an Advantage plan? Don’t let ANYONE try and SELL you something you don’t need, don’t want and can’t afford.

How to Find the BEST Georgia Medicare Plan

GA Medicare expert Bob Vineyard reviews Georgia Medicare plans, news and options. Review our videos. Bob will help you find the RIGHT plan that fits YOUR needs and budget. The best Medicare plan in Georgia. Call (404)252.5859 or email.

There is nothing wrong with buying a Medicare plan online as long as you are prepared for a LOT of phone calls from agents wanting to sell you something you don’t need, don’t want and can’t afford.

Turning 65?

If you are turning 65 and enrolling in Medicare, this may be your only chance to purchase a GA Medicare supplement plan. Full report with Medicare supplement rates for ALL Georgia Medigap carriers. Anthem GA Medigap rates include Silver Sneakers

You don’t have to receive Social Security to enroll in Medicare insurance. CMS is the agency that oversees Medicare.

How to Enroll in Medicare?

You may sign up for Medicare 3 months before your 65th birthday, the month you turn 65, and 3 months following your 65th birthday. You may enroll online (highly recommended), by mail or by visiting a Social Security office.

Original Medicare Explained

Original Medicare has 4 parts. Your red, white and blue card is broadly accepted by doctors and hospitals alike. No networks!

Medicare Part A covers hospital inpatient charges and has a per admission deductible

Medicare Part B is for outpatient health care treatment. Doctor visits, labs, X-rays, MRI, CT scan (CAT scan), ambulance, ER, outpatient clinics, etc. Essentially any Medicare approved health care received outside the hospital setting. Treatment considered medically necessary under Medicare guidelines. Medicare Part B has a calendar year deductible. Once satisfied, Medicare pays 80% of the approved charge, you are responsible for the remaining 20%.

Most seniors worry about hospital stays, but your major expenses will more than likely fall under Medicare Part B outpatient expenses. Original Medicare stand alone has no cap on your out of pocket expenses.

You pay until you run out of money, get well or die.

Medicare Part C is now referred to as Medicare Advantage. More on that later.

Medicare Part D covers outpatient prescription drugs. Some Advantage plans have drug coverage built into the plan.

Medicare is Confusing

Seniors will almost always buy the wrong drug plan and will spend too much every year. Average spending on prescription medication is $1 for every $6 spent on health care. If you spend $60 per month on doctor bills you can expect to spend another $10 on medicine.

Lower your medication bill by only using your drug card when necessary. The right drug plan will save a lot on brand names but you will almost always pay MORE for generics.

Consider paying cash or using GoodRx instead for maximum savings. Also look for drug plans that have a deductible.
https://youtu.be/LaA9NnFeBXI

Do All Doctors Take Medicare Advantage Plans?

Did you know that some doctors and hospitals do not accept ANY Medicare Advantage plans? What happens if your claim is DENIED? Maybe you don’t have the best Medicare plan after all.

Medigap and Advantage plans cover the same things, but what you pay out of pocket for your care, and where you receive your care, is very different.

Original Medicare does not have networks. You can use any doctor or hospital anywhere in the US. Another plus is the ABN form which is only used with Original Medicare.

Advantage plans are managed care plans. Some are PPO, some are HMO. In 2018 about half the plans are HMO with the balance being PPO. How are Medicare Advantage plans like a store credit card?

Original Medicare – Good and Bad

Original Medicare Part A, the hospital inpatient portion, does not charge a premium to most people. Other than the per admission deductible ($1364 in 2019) you will not have out of pocket expenses for most hospital stays. This applies if your hospital admission does not exceed 60 days and Medicare approves all hospital billed charges.

Welcome to Medicare – What’s Covered?

Charges by a surgeon or other non-staff member usually fall under Medicare Part B. The same is true for ER charges and expenses incurred when admitted for observation.

Medicare Part B is for outpatient health care charges. You are not required to enroll in Part B but you probably want to. Large claims exceeding $40,000 often have over half the total incurred on an outpatient basis.

Hospital Admission – In or Out?

Medicare Part B requires a premium payment. In 2019 the premium for most people is $135 per month. Part B has a yearly deductible ($185 in 2019). Above the deductible Medicare pays 80% of approved charges, you are responsible for the 20% balance.

There is no cap on your out of pocket expenses for Parts A or B.

A Medicare supplement plan will greatly reduce your out of pocket expenses for Parts A and B charges. Most buy a supplement plan for two reasons.

First, they are able to keep their doctor. No, this is not a campaign pledge. You really CAN keep your doctor(s). Also you are free to use any doctor or hospital in the U.S., penalty free.

Second, a Medigap plan allows you to budget future health care expenses. No worrying about unexpected large medical bills.

Why Do I Need a Medicare Supplement? 1 — Do We Need a Medicare Supplement Plan?

Late Enrollment Penalties

The best time to enroll in Medicare is when you are first eligible. Medicare does grant a “free pass” in SOME situations when you enroll late. Make sure you understand the rules.

If you don’t qualify for no premium Part A you will incur late penalties if you fail to enroll on a timely basis.

Likewise, Medicare Part B has late penalties which can be waived in some situations. If you are charged a Part B late penalty you will pay it for life.

There are no late enrollment penalties for failure to enroll in a Medigap plan but there can be consequences. If you miss your initial enrollment or special enrollment period you will have to qualify medically for coverage. The decision is pass/fail. Either you qualify or you don’t.

How Much Does Medicare Cost?

Unless you have enjoyed “free” insurance up until now, you will probably find that original Medicare and a Medicare supplement plan are real bargains.

No provider networks. Never any non-par penalties or hidden provider charges.

You have questions. We have answers. Never any charge.

All I ask is that you allow me 10 minutes on the phone to answer your questions. If you like what you hear and believe I can help, then great.

If not, you walk away and we part as friends.

I call it an offer you can’t refuse.

#GAMedicareExpert #GAMedigapRates #GeorgiaMedicareSupplementPlans