However, it is important to note that Manhattan Life only provides five of the 10 standardized Medicare Supplement plans and only issues policies in 35 states.īankers Fidelity - Good for individuals interested in multiple supplemental insurance products and/or life insurance. I'm checking on Plan N vs Plan G currently.Manhattan Life - Good for individuals who prioritize working with a company that has a long-standing history (Manhattan Life has been in business since 1850). There is SOME info out there, but I haven't finishd reviewing it enough to post it here. It's informative when you compare raises of one plan against another, and one company against another. It would be good to know the history of Plan G and other plan premium raises. raise rates if costs warrant it, in their opinion. And being able to just raise the full rate premium because of costs, negates the argument that it only raises it for loss of discounts & for inflation. So that full rate will not be 36% discounted fully. Think about it: I got a 3% discount off the full rate premium last year, so not a 3% discount off the new full rate premium. The increases I got this year amt to about 9.7%: loss of enrollment discount, loss of the 3% discount off "full rate" premium, maybe inflation, and it raised the full rate premium. I bought Plan G AARP/UHC last year at age 65, community rated. It's generally best to buy the lowest-priced issue-age or community-rated policy, which may cost a little more in the beginning (but often does not) but usually doesn't raise rates as high through time. You say that the Kiplinger article says: Attained-age policies increase the premiums as the insured ages issue-age and community-rated policies do not (both can raise rates due to health-care inflation). Note the other things that affect policy cost at the bottom of the page. 'Cost of Medigap Policies - Chart of Pricing Methods You are wise to determine how the policy is priced because it does make a difference. Seems it is also a call on what you think health care inflation might do, if that has bases on the pricing method - from current forecasters, it is now on the rise again after leveling off somewhat during the recession years.Īttained-age policies increase the premiums as the insured ages issue-age and community-rated policies do not (both can raise rates due to health-care inflation). I wonder if your state's Dept of Insurance might have this historical perspective since they are the ones that regulate the plans. Sorry, I don't have one so I cannot answer your question directly. How much they might increase year over year is a hard comparison to make because it depends on how they are priced to begin with and what state you are in and the rules they put into play - meaning some states require that a Medigap policy be sold to people who are younger than 65 years old - this would include those who are on SSDI for over (2) years other states say that their Medigap policies are only available to those Medicare beneficiaries who have reached the age of 65. ![]() It looks like with UHC I'll get a 3% increase each year because of the initial enrollment discount plus an inflation or any type of increase each year? The UHC community plan or an attained age plan such as Aetna or Cigna. Privacy average how much has your medigap policy increased each year? I am planning to use Plan G, but trying to decide who has lower increases overall.
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