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Posted this on Health Insurance, but no responses so far, probably because those who already have a Medigap don't visit the Health Insurance Forum. But.....I'm pretty sure a lot of Florida Medigap holders do visit the Retirement Forum.
Florida is unique in that it is one of the few states which mandates issue-age Medigaps, which means rate increases should be lower than those for attained-age and under-age 77 community-rated policies. So.......
With the closure of Plan F to newly-eligible Medicare beneficiaries in 2020 and possible increases in Plan G across the board, it would be useful know your premium experience with FL's issue-age Medigaps.
If you can, please provide:
which Medigap you have - i.e., Plan F, Plan G, Plan N, high-deductible, or other
oh, just realized you want Florida only. sorry. I'll just leave what I wrote.
Medica - (a Medigap type of plan which was called a Cost Plan) went from $79 per month to $228 per month in just one year - because Congress passed new federal legislation which eradicated Cost Plans for 2019 in all counties in my state except for 21 counties). So it was renamed from Cost Plan to something else and went from $79 to $228 in just one year. (bad move by Congress)
The price rise was and is disappointing because it is a very good plan. (direct purchase). That's without Part D prescription drugs. I have Part D with the least expensive separate Part D prescription drug plan in the U.S. - Humana Walmart plan at $25 per month.
Last edited by matisse12; 10-09-2019 at 05:24 PM..
Posted this on Health Insurance, but no responses so far, probably because those who already have a Medigap don't visit the Health Insurance Forum. But.....I'm pretty sure a lot of Florida Medigap holders do visit the Retirement Forum.
Florida is unique in that it is one of the few states which mandates issue-age Medigaps, which means rate increases should be lower than those for attained-age and under-age 77 community-rated policies. So.......
With the closure of Plan F to newly-eligible Medicare beneficiaries in 2020 and possible increases in Plan G across the board, it would be useful know your premium experience with FL's issue-age Medigaps.
If you can, please provide:
which Medigap you have - i.e., Plan F, Plan G, Plan N, high-deductible, or other
your age at the time you purchased the policy
year purchased
premium at the time of purchase
insurance company
direct purchase or employer retiree plan
current premium
% of annual increases if you've kept track
Thanks so much.
Well, I'll take a stab at it, although without doing research, I'm not sure how good my memory is.
I have a type F plan (not the high-deductible) through USAA. I first bought it directly from them when I turned 65 and started receiving Medicare benefits. That was in 2012. I bought type F mostly because of the travel coverage -- I used to do a lot of travel, and I didn't want to be stuck in a local network.
I believe the initial premium was in the high $180's or low $190's, but today it's $203 per month. I can remember only one premium increase, but as I say, I'm not sure how good my memory is.
^^Thank you. Only a $20 increase, at most, in seven years is exceptional - which speaks to the value of an issue-age policy when bought early. Of course, the higher cost of the initial premium at age 65 compensates the insurer. Still, a low premium for someone 72 y/o.
Florida Medigap. Hi Deducible F. Wanted to answer before but looks like it'll have to wait until after the 15th.
But,I am seeing some wrong information on the Medicare site when I tried to see what the new premium would be.
From the medicare.gov site.....
"7 companies offer Medigap Plan F - high deductible in your area"
and…"Issue age pricing
Premiums are lower for younger buyers and won't change as you get older."
I can tell you it was...
$1258 in 2016
$1296 in 2017
$1608 in 2018 (Because I turned 75???)
$1626 in 2019 (135.50)
Florida Medigap. Hi Deducible F. Wanted to answer before but looks like it'll have to wait until after the 15th.
But,I am seeing some wrong information on the Medicare site when I tried to see what the new premium would be.
From the medicare.gov site.....
"7 companies offer Medigap Plan F - high deductible in your area"
and…"Issue age pricing
Premiums are lower for younger buyers and won't change as you get older."
I can tell you it was...
$1258 in 2016
$1296 in 2017
$1608 in 2018 (Because I turned 75???)
$1626 in 2019 (135.50)
$400/year between 2017 and 2018 is HUGE for a high-deductible plan. Will your health permit you shop for another carrier? On health insurance forum you said you had United American.
$1626/year for a high-deductible plan is outrageous. Our rates in WI are very high, and the most expensive plan is $1,200 in that age group, the other carriers are under $1k.
It has always been my opinion that premiums for the high-deductible plans in WI are too high given how infrequently they pay.
You are getting ripped off at $1626. Look for another carrier, if you can.
Florida Medigap. Hi Deducible F. Wanted to answer before but looks like it'll have to wait until after the 15th.
But,I am seeing some wrong information on the Medicare site when I tried to see what the new premium would be.
From the medicare.gov site.....
"7 companies offer Medigap Plan F - high deductible in your area"
and…"Issue age pricing
Premiums are lower for younger buyers and won't change as you get older."
I can tell you it was... $1258 in 2016
$1296 in 2017
$1608 in 2018 (Because I turned 75???)
$1626 in 2019 (135.50)
Is it just co-incidental, or are those rates actually Medicare's Part B rates, not a Medigap's Plan HD-F rates ??
The last 2 are exactly Part B's full rate for the 2 years, the first 2 are lower, (possibly due to a "hold harmless" reduction ?).
Ariadne22,
I'm in NY, but thought I'd take a stab at it for you since you've had so few responses.
I have drawn SSDI since 2003, and for a few years in the beginning I qualified for Medicaid, so didn't need the supplemental.
But for at least 13years I've had the AARP.
AARP is through United Healthcare.
I have AARP Supplemental insurance plan F, non high deductible. Because I have several chronic medical issues, have had 21surgeries, and multiple surgical procedures a year, I need great coverage.
This year, with a $2 discount per month, I pay $222. Next year, however, it will be a whopping $249/m!!
And 2017 I was paying$195, in 2016 I was paying $178.
You can see, there are some steep increases , 10% increase for next year.
I've checked around, and to get the same plan from another provider for 2019 would have cost me $295! No thanks.
Now if you don't know...they are supposed to be eliminating the low deductible plan F to new applicants, but not sure exactly when that happens, or if it's already happening. Those who have it are allowed to keep it, but I have a feeling those that keep it are going to get soaked on premiums, because most who have it, like me, have worse health than other plans.
But, for me, it's going to be a strain on the budget, but it helps ensure I NEVER see a Bill!!!
I would say since it's a national plan, that there should not be a big difference in coverage from NYC or Hicktown North Dakota, but what do I know?
Terrible when ones stupidity is in print for all to see
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Oldcold needs to recheck his United American premium.
