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I am starting to look at Medigap plans (turning 65 this summer) and having a hard time finding one webpage that compares plans side by side with prices. For instance, I want to see all the Plan G plans in my area with prices. I don't want to "click here for Aetna" and then "Click here for BCBS" ad infinitum.
Medicare.gov is not very helpful.
I am starting to look at Medigap plans (turning 65 this summer) and having a hard time finding one webpage that compares plans side by side with prices. For instance, I want to see all the Plan G plans in my area with prices. I don't want to "click here for Aetna" and then "Click here for BCBS" ad infinitum.
Medicare.gov is not very helpful.
You need to know as much as an agent when it comes to policy pricing in order not to be convinced to buy a lower priced attained-age policy which will subject you to excessive rate increases as you age. Therefore, you should familiarize yourself with pricing.
Medigaps have three price structures: community-rated, issue-age rated, attained-age rated.
In the long run, community-rated or issue-age do the best job of controlling prices as you age. In most states, only United Healthcare uses community rating, discounting rates for those under 81. Thereafter, whether age 81 or 101, rates do hot increase because of age. AARP UHC has a huge share (37%) of the Medigap market because of its community rating.
Know that attained-age policies can appear attractive b/c of initial low premiums, but premiums for those policies can easily increase 60% in five years, becoming unaffordable in your 80's. Insurers close attained-age risk pools frequently, locking you into an older sicker risk pool group. At that point, unless you live in a guaranteed issue state your health may preclude switching a less expensive plan. The only option available then is an Advantage plan.
You can get the same flexibility of a full Medigap with a high-deductible Medigap at half the price or less. Many here have the high-deductible plan. Medicare pays its 80%, you pay 20% until you reach the deductible, currently $2,370, after which Medicare pays 100%. Medicare reimbursements are very low, so your 20% share of routine services is small. You would need a major medical issue to reach the $2,370 deductible. Agents don't push those policies b/c the commission is very small. Attained-age pricing is acceptable in an HD plan because the deductible largely mitigates insurer risk keeping rate increases very low and often nonexistent. I had an HD plan whose rate went down.
Otherwise, unless in a guaranteed issue state, do not purchase a full Medigap w/attained age pricing. At that point, either choose AARP UHC - or explore issue-age plans which may be higher priced at first but are subject only to increases in medical inflation, not age. AARP does institute age and inflation increases through age 80 - but the community risk pool keeps these increases manageable.
Regular Plan N if you do not require care from nonparticipating providers (excess fee coverage) can also provide significant cost savings primarily b/c of the small doctor copay (not to exceed $20) - both through AARP UHC or issue-age through another carrier. Those here with Plan N have found Plan N covers their needs very well, with very small out-of-pockets ($20 doctor visit; $50 ER). Most doctors are participating providers so the lack of excess coverage isn't an issue.
Thank you so much for this link, Ariadne22. I was looking all over for this pricing recently and could not find it. Will bookmark it now. Very helpful. Thank you again!
Thank you so much for this link, Ariadne22. I was looking all over for this pricing recently and could not find it. Will bookmark it now. Very helpful. Thank you again!
Apparently it doesn't like me because I'm not 65 even though I'm entering my medicare start dates.
Under age-65 Medigap is an often hard to find product. I don't believe UHC offers Medigaps for the under-65 in any state.
I don't think many of them do it because before I renewed my BCBS medigap, I did go to a few of the sites listed, came up empty until I went back to BCBS, I finally qualified for the cheaper C plan. I had lost it in October due to hub losing his job in March. We just couldn't pay the $225 any more. Thankfully I didn't get sick, don't see many doctors, so it was only a $20 copay.
My hub will be 65 April 2022. I'll make note of it for him
I have been trying to figure out Medicare too.It is confusing. Even more so more when you go on the Medicare website. There you find medigap plans A-N plus two plan G's and F's. How much more confusing can you get? https://www.medicare.gov/medigap-sup...r=2021&lang=en
I have been trying to figure out Medicare too. Even more so more when you go on the Medicare website. There you find medigap plans A-N plus two plan G's and F's. How much more confusing can you get? https://www.medicare.gov/medigap-sup...r=2021&lang=en
What's confusing ? You have a choice of coverages and costs to fit your needs and budget. Beside, you are not required to have a Medigap. Assuming you are OK with just regular Medicare, and the 20% plus that it does not cover.
Would you prefer that everybody only have the highest cost, full coverage plan choice ?
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Medigap choices
