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Am on a BC/BS of NC F supplement plan. It just increased from $26/mo. to $36.75/mo. - a whopping 39.5% increase.
Isn't that a major percentage jump for a policy? Especially the F Supplement which remained so low for years? Yes, I know, it was "only" $26 and now it's "only" $36.75, but damn, that's still a large percentage increase in one shot.
Anyone know why it went up this much? Have all the F Supplement plans across the country also gone up? Has it got to do with what the current administration is doing/threatening to do with basically all health insurance? Or are there a lot of really sick people who really don't belong on an F Supplement signing up for them as a way to save money? And if so, are we folks, who don't doctor much, now picking up their tab?
I go to the doctor twice a year for checkups (and I think one would suffice), am currently not on any meds and frankly, I am getting sick of paying these monthly premiums and still having to pay for the doctor's office visits because I also have to pay the Medicare deductible. And if I end up on any meds, I have to meet that plan's deductible and still have my copays on both. And my $2200 out of pocket max, should I have any expensive procedures. And my eye exams and the glasses are on me.
I've got my 90+ year old mother on an Aetna Advantage plan for two years now and they have been outstanding in paying all her medical bills and hospitalizations - all at $0 premium each month. Her biggest expenses have been those $300 ambulance rides.
Part of me thinks, to hell with the Supplement, just switch to Aetna at the end of the year - when I finally have a bad year, I'll still be ahead of the game, financially. Then, I think, don't be pennywise... And then I think but who the heck knows if any of us is going to have any insurance, once Congress is finished making up the lost money they gave to the corporations.
Actually, what you have is the high-deductible Medigap F (essentially a catastrophic Medigap) supplement at a cost of about $441/year v. the regular Medigap which would probably cost you about $1,800/yr.
The increase in premium is probably because you've moved into a different age bracket, together with increased medical costs in your area. Nonetheless, your premium is still really low in the hd-F world.
In WI, premiums for an hd-F for those under 70 run about $750-$900/year. In NY, under 70, expect to pay $1,200/year. Many healthy posters on CD have chosen the high-deductible Medigap F.
Yes, paying a premium for what appears to be essentially nothing is a pain. If your good health continues, the plan may never pay. I, too, had an hd-F in WI for several years - cost was $75/mo. Since I rarely doctor, I felt exactly as you do and eventually moved to a zero-premium MSA plan
which still gives me the flexibility of doctors (no networks) and deposits $2,400 to an MSA account. The deposit number changes annually. Worst-case, I am responsible for $2,600. Thereafter, plan pays 100%. I have no drug plan as I take no medication.
Unfortunately, MSA plans are offered in very few states. Had I not found the MSA, I would still be on the hd-F - or possibly an Advantage plan offered by a local health system here. Because of what I've read over the years and a negative experience with the UHC MA before that, I, personally, would not enroll in an Advantage plan that wasn't offered by a large medical provider.
On what the future holds, Congress has its back door way of cutting Medicare costs such as raising the deductible, discontinuing the full Medigap F plans in 2020, lower reimbursements for certain services. It's anyone's guess what Congress will do going forward. The Advantage plans have been under pressure as revenues have been cut - which began several years ago as Advantage plans had been overpaid by about 14%. MA's generally were huge cash cows for the insurers for many years.
Last edited by Ariadne22; 05-18-2018 at 12:05 AM..
Yes, I forgot to say it was a Hi-Deductible F. But I haven't moved into a different age bracket, unless going from 65 to 66 constitutes a leap in BC/BS's mind.
I know the cost is, overall, reasonable, but I am shocked at the percentage increase - I can see an increase of maybe 10% but I was just stunned at the 40% jump. Makes me nervous what it will jump to if Congress goes to town on all health insurance.
Thanks for the info on MSA's - I don't think there are any in NC. And I know there's no Advantage plan backed by a large medical provider, like a Kaiser, just the regular Advantage plans.
But it's good to know I'm not the only one who feels frustrated at paying the premiums and then still having to pay basically full price when I have a doctor's visit.
Since Congress killed the individual mandate for 2019, ALL plans are going to go up. Because, you know, the big insurance pool was supposed to help keep costs down, but since half of America doesn't understand that simple concept they screeched about the "mandate" and poof -- there goes the insurance pool.
On top of that, when Trump killed the subsidies that insurance companies were getting under Obamacare, that's already making costs go up.
Watch what happens when the companies submit their annual increases for 2019 -- no subsidies, no individual mandate -- in August-September. I expect the last remaining Obamacare insurer here in FL to pull out, taking my Obamacare policy with it, and frankly I expect the rest of the health insurance marketplace to completely collapse.
You are confusing CSR subsidies that are given to insurers and subsidies that are given to individuals due to income. Plans are going up due to CSR reductions, but if you qualify for an individual subsidy, you are basically shielded from an increase because you are only expected to contribute a certain percentage of your income to pay for the insurance, and that percentage has not changed.
I'm wondering if part of the increase is due to the sunset. When that occurs, no new applicants will be allowed so only existing (aka older, more health problems, more cost) will be in the plan. As such, cost for that plan will probably go up so insurance companies may just be filling the coffers now in anticipation.
Since Congress killed the individual mandate for 2019, ALL plans are going to go up. Because, you know, the big insurance pool was supposed to help keep costs down, but since half of America doesn't understand that simple concept they screeched about the "mandate" and poof -- there goes the insurance pool.
On top of that, when Trump killed the subsidies that insurance companies were getting under Obamacare, that's already making costs go
Watch what happens when the companies submit their annual increases for 2019 -- no subsidies, no individual mandate -- in August-September. I expect the last remaining Obamacare insurer here in FL to pull out, taking my Obamacare policy with it, and frankly I expect the rest of the health insurance marketplace to completely collapse.
Your comment relates to insurance for those under 65 - for policies bought in the open market and has ZERO correlation to the original OP - who queried on the MEDICARE high-deductible F supplement.
Medicare supplement plans are not subsidized and never have been. Costs of Medicare supplements vary widely by insurer and region and type of policy - and pricing/rating method used.
Further, removal of the mandate will have no effect on the cost of Medicare, itself, which pays 80% of all costs. Medicare Part B is already subsidized about 73% by the government; the cost of Part A is borne 100% by the govt. Supplements are optional and bought to cover the 80% and certain deductibles not paid by Medicare.
Last edited by Ariadne22; 06-02-2018 at 12:33 AM..
I'm wondering if part of the increase is due to the sunset. When that occurs, no new applicants will be allowed so only existing (aka older, more health problems, more cost) will be in the plan. As such, cost for that plan will probably go up so insurance companies may just be filling the coffers now in anticipation.
Discontinuance of the full Medigap F will not affect the cost of an high-deductible-F, because a $2,240 deductible is already built into the pricing of the hd-F - vs. the $183 deductible currently paid by the full Medigap F.
Regular Medigap F's may experience a higher percentage increase after 2020 due to a closed risk pool, but the hd-F shouldn't.
More likely OP's unusually low premium of $26/mo. was always destined to be increased to a more appropriate level. Around here, hd-F's for those 65/66 are at least $65-$75/mo.
Last edited by Ariadne22; 06-02-2018 at 12:38 AM..
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