gap insurance, whatever you want to call it, I love BCBS of Texas for mine BUT the cost is going up in July which is supposed to be illegal.

What to you other oldies use for your secondary insurance?

Buzz, I don’t know where you heard that your premiums go up but the insurance companies can raise the premiums for your Medicare Supplement policy once a year. They have to submit the rates to the state and have them approved but they can and will raise the premiums. You can look up member Pokerj2 on here and he might be able to help you he is a broker over in Wylie.

Yep Buzz, we received a letter from BCBS about our cost going up. Its not right, sure dont increase the SS.

All insurance companies have to increase their rates from time to time - medical cost inflation affects them just like any other business - Buzz go online and get some quotes or call an agent to get you some quotes to compare.

I will tell you this - Medicare and supplements are WAY less expensive than if you were paying for regular health insurance

Mine goes up in September, that also is my birth month. Same every year

nothing to do with your birth month - it is based off of your policy date - but yes you are a year older with higher risk - again Medicare and a supplement are as good as it gets believe me -

Mine just usually does not go up till October/December.

I can't do without it this is for sure.

I use Philadelphia American and I got my letter last month that the premium was going up.

Fact... premiums and/or copays increase and/or coverage decrease.

I'm with BCBS Texas and got a notice a few days ago that mine is going up $ 50.00 per month.

I’m 80 and with Secure Horizons. No notice yet but expect it. Since Biden and Congress looted the economy with “Build back better”, inflation is going nuts.

My Plan G has gone from $160 to $204 in 4 years. My deductible is $233. In the last two years BSW has gotten about 50k from them. I'm not going to whine about it.

I attended an educator's pre-retirement seminar put on by Region VIII Service Center a few years ago with my wife. The presenter said to run and run fast from any Medcare supplement with the word "Advantage" after it.

I sold health insurance for many years and the presenter was exactly correct - Medigap policies are by far the best - Advantage has lots of holes in it

Humana...not the advantage plan. Been very happy with them.

So much bad advice in this thread! To make a blanket statement that one plan is bad over another is asinine. My agency has over 120k lives insured on Medicare currently. There is a right and wrong product for everyone. Could some policies be sold wrong? Sure. To answer the original question, there are 2 ways that a Med Supp will increase per year. One is around your birthday, the second is around inflation/how that book performed year over year. This will come the month of your anniversary date of your policy's effective date. The only company right now in the state of Texas that works differently than this is UHC/AARP.

MA plans are great if sold correctly. Med Supps are bad if sold incorrectly.

The go to Med Supp right now in Texas is CVS Ascendo which is on Aetna paper. Remember Med Supps are standardized. They are the exact same feature functionality with every carrier. The only thing that is different is the price. If you can health qualify to change, I advise shopping every time you get an increase. Insurance is a cut throat game when it comes to price. There is always someone releasing new paper trying to buy business for a couple of years. They will then take a huge increase.

I can tell you real numbers of how the industry has changed. 5 years ago we wrote roughly 6 Med Supps to every 1 Medicare Advantage plan. Now it is roughly 15:1 the other way. Networks have expanded, benefits have increased, added dental, added food help, added utility help, and the out of pocked max in a lot of cases is less than what someone pays in premium on their Med Supp.

The reason Advantage plans have increased is because of the insurance company's massive efforts the past few years to push these plans relentlessly. Just watch TV for a moment. There has even been talk from some in government to take action against them doing so. Each persons situation is different and certain plans work for certain situations. But there are some gaps and issues with Advantage plans that people totally need to be aware of. Read below from a total third party source.

https://www.investopedia.com/articles/personal-finance/010816/pitfalls-medicare-advantage-plans.asp

I tried to switch to United Healthcare but they wouldn't take me because of my past medical records, 2 new knees to start.

You must not have applied during open enrollment?

Almost the same ratio here. I'm 5 years in and I am very glad that I went with Plan G. It's simple: whatever Medicare doesn't cover, Signa picks up the tab without even a copay. The last 18 months have been interesting for me and I shudder to think of the size of the bills that I never even bothered to look at. No, it's not free but I am not going to whine either!

Marc

Yep plan G takes care of most everything after Medicare pays and is by far and away the best overall plan for you dollar - keep in mind that in Texas all of the plans (including Plan G) have identical coverage - only difference between the plan is the premium cost - I would not touch an Advantage plan even if it was free - could end up costing you way more in the long run no matter what Poker J2 is posting - I have done health insurance for over 42 years - Advantage plans are great until you need to use them -

pokerj2 I have a question. I'm on the CVS Ascendo / Aetna plan (G) you mentioned and am quite pleased. However, if it ever goes up and I want to shop rates will I have an open period annually where a change can be made WITHOUT underwriting? I guess things like that are subject to change, but am curious about the present scenario.

Yes you can change with no underwriting during open enrollment - by the way wife and I are on the Aetna plan G and have been for 5 years - they have been great

Whether a Medicare Advantage plan is good for you will depend on your needs. If you are healthy and only visit the doctor for routine checkups, it may be a good idea.

However, it may not be the best choice if you often travel outside of your provider’s coverage area or you find out that you require frequent medical care. Then your coverage will suck.

So the summary is this .... if you are very healthy and do not travel much then go with Advantage - however if you get unlucky and have a major or serious condition while on an Advantage plan then plan to pay out of pocket some serious money - these plans are pushed by the insurance companies and agents because they are making a fortune off of them -

Confused here? I’m on Humana ppo. $10 per month. It’s an advantage plan, not supplement. What am I missing? In February, my wife fell, needed stitches at Kerrville, Peterson. They did MRI because of fall….$98.

I go to Specialist every 6 months, checkup and ultrasound...$35. Good Anywhere.

Buzz, how old are you? If Medicare age, your talking to wrong people.