Medicare Supplement Hidden Risks Part 1
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- Опубликовано: 13 сен 2024
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Medicare supplement Hidden Risks Part 1 includes risks to premium rates that most consumers are unaware of. This two part series will detail hoe to weed out those insurance companies that are most likely to have pricing problems down the road.
You can find Part 2 here: • Medicare Supplement Hi...
#medicaresupplement #medigapseminars #medigap
As a Medicare broker not affiliated with this channel, I’ll say this guy is top tier Medicare knowledge level. If I weren’t a broker, I would fully recommend my family to him vs anyone.
Thank you
Being a person who is approaching retirement, so I am starting my research now. It is very clear to me that I want NOTHING to do with an advantage plan....ABSOLUTELY NOTHING!! So what i took away from this video is that many medigap insurance companies have teaser pricing for the healthier populations that are younger. After age 70, you can expect your plan cost to rise 1-2.5 per cent and those increases can happen twice a year. It seems wiser to go with a better known insurer that has been around for awhile. The nuances of how they raise those prices and at what age and how much is something I am trying to do a deep dive on. I am going to watch every one of your videos....probably several times. Thank you.
Most fair-minded and complete expert on RUclips!
Very helpful. How do people learn about Medicare. I'm 63 and these showed up on RUclips. Without this, I would not even know where to begin.
I have a free Medicare mini-course on my website: medigapseminars.org/ Click the talking head. Most people learn on their own. 😞
Thank you so much for your outstanding videos. I had no idea what a quagmire Medicare was when I enrolled four years ago. The information you impart is so timely and easy to understand it takes finding the right coverage much less daunting. I have shared your videos with everyone I know, especially now with the financial climate being so precarious. Thanks again.
You are very welcome, and I am glad you find them helpful.
I'm about 10 years from getting Medicare. But I had to dig into this for my brother which is 10 years older than me to try to get his insurance in order.
This gentleman is one of the best and most knowledgeable person that I've had the privilege to listen to.
All I can say Is , do not believe anything a federal employee tells you. They just want to get off the phone.
After everything I went through and read and tried to learn and talked to several people. I was able to catch four different people not telling the truth.
A friend of mine is stuck paying a permanent lifetime penalty for not applying soon enough. Someone from social security told him he can make his decision at any time and never volunteered the information it was going to cost him an extra 10% penalty based on his total premiums for the rest of his life😅
Thank you for sharing. Unfortunately, these are stories I hear way too often. I am glad you reached out to me and my team.
turning 65 in november 2024.trying to gain as much knowledge as i can to make the best decision possible.thanks for this information.just became a subscriber.
When you are ready, please reach out to us. medigapseminars.org/contact-us/
These are the best Medicare videos!
Thank you.
Thanks Matthew. This will make me a more informed consumer. I appreciate all your efforts to educate us on our Medicare journey.
You are very welcome
I enjoyed your analysis of who's attracted to and shy away from certain plans and the subsequent impact on rates.
I just started my education into Medicare today. Here is where I started and I appreciate your information. It's easy to understand and that is what I need. Thank you. I'll continue to watch
Hi Becky, that's a tough place to start. ;-) May i suggest this video : medigapseminars.org/medicare-explained/
I certainly did not know about the hidden cost factors that Matthew Claassen explains so clearly. I am glad to be one of his clients since 2020.
I'm glad too!
I've watched a lot of Medigap videos, and this one is a superb complement to the usual information provided. Good job!
Please reach out with any questions: medigapseminars.org/contact-us/ Did you like this video? You can find Part 2 here: ruclips.net/video/N6_4uJ6ViV4/видео.html
Yes. It's one of your best videos.
You are the calm, cool "Adam Cartwright" of Medicare Videodoom. There's also a Ben, Little Joe, and Hoss (Christopher W.). Appreciate you work.
@@flytiger53 🤣
I really liked the video and looking forward to part 2. I am a nervous wreck about choosing the right plan. I just turned 64 so the clock is ticking.
Thank you @@JeanPierreWhite
Navigating all these variuos issues is a nightmare. Thank you for the help!
The best Medicare content on RUclips!
Mom? LOL, thank you David.
@@MedigapSeminars My pleasure.
I'm guessing you're his brother...
@@TK-cl1jm 😅
I am revamping my husband's coverage and planning my own. This gentleman has been the most informative source of Medicare and insurance choices for supplemental and Advantage plan information I have found. It is making more sense the more that I listen! Would love to get in touch to finalize choices.
Thank you for your honesty and in-depth explanation of the Medicare insurance industry.
you are welcome
Im going to be calling you soon. I am leaning on taking the plan b penalty for 2 years because im not now or will I be concerned with a 35.00 dollar a month increase for the 2 years simply because I have VA with no co pays and no cost what so ever. 100% free. Prescription filled is 8.00....I have no health issues and I cannot afford to pay a plan b monthly cost right now. Also, the longer I go without taking SS which im entitled to get right now the better because if I do wait another 2 years (and take the penalty for not getting plan B) I really don't care because in two years i will be at full retirement age and all this time waiting I will be covered with VA anyway...Im going to call you though....
The Part B penalty is 10% of the Part B premium for every 12-months you missed - paid every year for the rest of your llife. It's not just a two year problem. Check with your state department of insurance, many states help low income people with their part B premium.
Thank you for the information regarding plan G. In Nevada, we are allowed to switch our plan G once a year around our birthday. As long as the other plan G’s offer is similar to our current plan, we are allowed to switch without any underwriting. This allows us to somewhat control costs while not having to stay with the same insurance company plan G. I also found your discussion of percentage increases very helpful and will keep it in mind in the future.
But when you switch companies in Nevada, does your issue date change to current, thus affecting the premium?
Nevada is not Issue Age
Sadly, over time we will see the prices increase significantly in these new Birthday rule states. CA was first and it's a mess. It's the law of unintentional consequences. When insurance companies can't filter out the people with poor health, everyone pays as if they were unhealthy.
Great video! I have been researching Medicare for a while and a lot of what you said makes sense.
Back in May or June I received a breakdown of all the Medicare G and N plans for my area that also had price increase history like you showed and it was interesting on how incomplete the info was. It was also interesting that quite a few companies had very few people under their plan both state wide and nationally; I would imagine that their prices would go up pretty quickly as you said.
One thing that's a little disturbing is that it seems that even a "reputable" company plays games with their plan participants. I've read that one of the names out there either stopped a certain plan in a certain state or stopped selling a certain plan under one of their companies and opened the same plan under another one of their companies leaving the participants in the first struggling with higher than expected increases.
Although I think this is great content to help us at the beginning of our Medicare journey, the truth is we can all be victims from any insurance company in the (near?) future. It could be an A+ company today and something changes and it becomes a horrible company down the line.
Hi - you brought up some interesting points, some of which I may go into in the Part 2 video. As far as #'s of insured, that data is self reported on an irregular basis and never accurate. Never. The same with the loss ratios reported. Regarding pools / shutting down one to open the another. That is not a game. Insurance companies are having a serious problem with health cost increases, and in some states rules that prevent the company from medically underwriting. The result is that they need to shut down one pool and open another to keep competitive. It gets to a point after 4 or 5 years that they can't add the "unknown health" of an initial enrollment applicant to a pool of aged beneficiaries without prices sky rocketing.
Thank you so much for this education. It is helpful!
This information is so helpful for someone like me who is 8 months from turning 65! I plan to watch all of the videos.
Next year I plan to retire and will have to join Medicare. Your videos will help me avoid choosing a plan that I will come to regret. Apparently insurance companies benefit from confusion and love obfuscation else how can you explain the popularity of “Advantage” plans. Those who seek to deceive and benefit akways use a name indicating the exact opposite of the actual result.
I am glad these videos will help. Of course you can always call my office. Our services are free to consumers.
This is the kind of info I need. The real nuts and bolts.
Then I am sure you will love Part 2!!
Very informative. I am in a situation where making these decisions has an acceleratedimportance due to a health issue. looking forward to part 2.
you can always contact us directly: medigapseminars.org/contact-us/ That is what we do for a living
Thanks as always for the eye opening information.
Thank you for these seminars. I have watched every single one and have learned so much. I have now started many conversations with my retired friends and passed on my knowledge to them as well as sharing your u-tube locations for their education. I am amazed at the number of people who chose to allow their agents to make dr idioms for them. I tell people using an agent is fine but take time to educate yourself so the ultimate decision is the right one for you. I have an F plan with AARP-UHC. It is categorized as a community based pricing but I did receive an age related discount at time of signup (age 65). My increases have been on my birthday (reduced discount) and again in May. I am 72- currently paying $282 per mo with increase in January to 293 and again in May to $303. I was considering changing to a G plan but have had some major health issues so I don’t think I will pass the underwriting. I wish I had seen your seminars when I was new to Medicare.
The supplement design UHC calls Community Rated are not allowed in states that mandate Community Rated plans because......they are not true community rated plans. There is no discount. It's just a way to sell an attained age plan but make you believe you have something else. If you believe you can can qualify medically to change, call us 800-847-9680
My long-ago decision to opt for Plan G with a LARGE insurer and stick with it seems to be paying off handsomely. Thanks for the original and ongoing advice.
I heard Aarp united health care is the best 🤔
@@rolfholt9684From Personal Experience I Can Tell You FAR From it !!!
After what he just said about plan G rate increases why go with G.
I so appreciate your informative videos. I’m glad that I found you a few years ago and was able to switch from a “disadvantage” plan to a Plan G. My only question is why I never hear from my Plan G insurance company about price increases. It seems to me they should be required to inform their customers of price increases during the annual enrollment.
There is no "annual enrollment" for Supplement Plans. Usually, they will have a price increase on your anniversary date of when you started the Supplement Plan. So if you started your Supplement Plan August 1, you should be getting a rate increase each August and they should let you know what that is about a month and a half before August 1.
Hi Karen - if there is a price increase they send a notice 45-days or more in advance. Other than the annual attained aged price increase, we also email and call clients when there is a price increase. . you have has only one of those since you got the policy. in 2020.
I've learned a lot about the medicare maze that we face. Steep learning curve for us nearing 65 for sure. However, listening to your videos is very helpful and informative. My bottom line take is that it's too important an issue to trust my own skills in research and company price increases. I will absolutely work with a broker, and more than likely, your office because of your videos which has helped educate me in this process.
The problem I see so far, is that this guy knows what he's talking about, but it's not the guy that is going to help you when you call. How do you know that all the employees are trained this well and that you are getting this quality of service?
Thank you for sharing this,God Bless you.
You are welcome
I’ve been with Mutual of Omaha for a couple years. I’m 69 now and just got my new plan and it increased from $166.00 per month to $195.00 per month. I live in Ohio. Thanks!
Unfortunately, average price increases this year are at about 8%. That’s average. It’s been much higher than years prior to 2020.
Very helpful information. Extremely useful and in clear language
Interesting information. Not sure whether I should trust any insurance.
Come to think of it, I know several people with serious health issues that have recently purchased Plan G policies so that gives me pause to give serious thought to your considerations presented here. My career background is in insurance and I must say that this channel is the very best on the topic of Medicare Supplements!
Outside of the six month Initial Enrollment Period, there are only a few states that allow a person the purchase of a supplement without medical underwriting. Once you have health issues, for most people changing to a supplement plan is impossible.
I have a policy through his agency and have been very pleased with the level of service
You have opened my eyes to so much with your in depth knowledge. These videos are so valuable and appreciated. The first broker we spoke with went directly to a big name advantage plan and I have now gone 180° away from them based on my, needs not his preferences. He never brought up any supplement plans. 😡
That is one of the "tells" I mention in another video. A broker or agent trying to do what is in your best interest should always start with supplements. Then, if they are no affordable, move to Advantage plans.
Your videos are absolutely very helpful. I will wait for the Part 2 of Hidden Risks. I called your office and a rep said I don't need to do anything with my Medicare supplement, all I need to act on is My Med Part D. My current Medigap plan won't tell me my premium for 2024. Would you happen to know? Thanks.
Hi - I answer that in this Medicare short (60-second video_ ruclips.net/user/shorts9Ypw8eJkwEI
Thank you. I’ll be 65 in a few months and I’m thankful for your videos to help me with my Medicare decisions. I am only offered a Medicare advantage plan through my previous employer, Aetna network. I’m still waiting on the documentation but feel I’m leaning more towards a plan n supplement. Are you licensed in NY?
Thank you! You just saved my Medicare Original Plan F.
Thank you for these videos. They have helped me over the past year and a half.
I appreciate your gratefulness. 😁
Thanks for the information, I watched the second part first because I came across it first. You videos are so easy and simple to listen to . I will definitely be in contact with you office .
Like the info; so many brokers say these are all top rated companies; why not simply go with this least expensive one
Because the least expensive one when you turn 65 is very unlikley to be the lwoest cost over your lifetime. The risk you take is that by the time you try to change insurance companies, your health has changed and you are stuck in a very expensive plan.. Lowest cost plans when you turn 65, especially with a small company, can cost 300% to 350% more than their competitors when you are 75.
Although I don’t fully understand the breakdown of the inflation increase components I am now on notice to PLAN for significant premium increases in the future. That’s helpful.
Interesting. I did not know that new to medicare pricing and in-force pricing are different. I did exactly what you said is not helpful.
I looked at the cost of three companies plans at ages 65, 70, 75, 80, 85 and 90. I then calculated what would the average price increase per year need to be to the price to increase from the age 65 price to what was quoted at age 90. While the lowest cost plan at age 65 had the biggest per year price increase it still looked like it was the best choice since the price at 90 was still the cheapest.
The three companies I looked at were the companies my agent quoted me for for Plan N, not simply the lowest in the quote engine. All three are large well known companies, Cigna, Aetna and Humana.
I did notice that the price difference between age 65 and 70 was lowest for all three companies compared to other 5 year increments. They all quote lower increases at the start and increase more per year for each 5 year period.
I look forward to your part 2 video to learn how I can do this analysis differently.
There is no way to come up with an accurate answer with public information. FYI I spend most of my life as a Financial Analyst advising mutual fund and hedge funds. (in case you can't tell). What you don't know here is that none of those companies will keep that pool of policy holders open for more than 5 to 7 years. They close it and move on to a new pool. The closed pool then disappears from the quote engine. So the real question is, which company manages the closed pool best?
@@MedigapSeminars Thanks for that insight.
Thank you! Very useful info!!!
I enjoy your willingness to share your knowledge,l'm 65 and have been taking in your therapy for the last year.l did not,but l do now have the ability to make an informed decision, l'm not ready to set it up just yet,but when l decide to you will get a call. THANK YOU SO MUCH. RICK/ KY.
You are welcome Rick
Thank you, I just found your podcast & I am so grateful!!!!
I don't have a podcast
Thank you for your straight informative instructions. Helped me determine the "disadvantages " of advantage plans.
you are welcome
Your videos are excellent and I greatly appreciate the information that helps me to make the right decision about heath care supplements.
I'm so glad!
Thanks Matthew. Great information as usual. I'll be looking for Part 2.
you are welcome
Great stuff . I have plan n, am 70, with empire Blue Cross, Anthem, for 3 years, they are raising my premium from $185 to $210 on Jan 1. That's 14%. Seems like an increase that doesn't sound right, too much. Should I be shopping for another company? Humana wants $320 for a plan n with their company. I'm starting to wonder about all these Medicare plans . Seems like although they cannot change the coverage with a supplement plan across the companies, they certainly appear to be able to change the premiums. Still 14% seems steep. Btw, I'm in new york 20:55 20:55
If you are in NY, you should have a high deductible supplement. That keeps the premiums low. NY has a perpetual open enrollment for Medigap plans, so if you are facing high medical bills you can convert to higher coverage without underwriting. Let us email you some quotes so you can do the math as to why G-HD makes sense: medigapseminars.org/contact-us/ see: ruclips.net/video/uvbjxxAb2tg/видео.html
Thank you for your informative videos. I’ll be turning 65 in September. I live in New York State. I hear New York is very high in medigap. Can you please tell me which is the lowest medigap plan and insurance company to use? The $174.40 a month plus the cost of medigap can be very expensive. Thank you so much!
Great information
Keep the great info coming
I will try! 🤪
Please do more videos. Information is power and we need as much info as we can get. Thank you.
you are welcome
I’m shocked about Medicare. I’m 63 and I’m actually scared of this ins. I listen to this video and I’m more confused. I’ve watched sooo many videos from all people. I think you explain the best but I’m still confused on which ins company to go to which I’m sure by the time I’m 65 all rules will change again.
Thank you sir for this crucially informative video. I'll be giving your company a call after 12/7 when your phones are not ringing off the hook. As I am now in a guarantee issue period due to relocation I have a little more breathing room.
Thank you for posting this helpful video
You're welcome
Thanks for all you do.
My pleasure!
We live in IL and our couple have HDG plan. The insurance company currently we are in is recommended by your team. However, how do I know this choice is the best one? No one explained to me why this company is recommended to us or no one told me what is differences this company compare with other companies.
I suggest that after the annual enrollment period you contact us and we will have time to go over that with you. medigapseminars.org/contact-us/
Thank you for this information👍help me more understand about my insurance and how to choose this enrollment year
Love your videos, have watched many of them. Will make an appt for a phone consultation in the near future. One question: should a change of employers, thus requiring an immediate need to enroll in Medicare and choose a supplement plan (I'm 66 and currently covered by my qualified employer health coverage plan) be much of a problem? Im seriously considering changing employers and that wouldn't allow me the 3 month "suggested" advance planning option. Thank you!
I am not sure I 100% understand your question. However, as long as you have not enrolled in Part B, you retain your 180-day Medicare supplement open enrollment period. If you made the mistake of getting Part B with employer coverage, your choices will depend entirely on your state laws. When you are ready, feel free to call 800-87-9680
@@MedigapSeminars Not enrolled in A or B at the moment. But I'm aware that upon losing qualified employer health coverage, by changing employers, that there can be no gap in healthcare coverage as new employers usually do not start healthcare coverage for 30-90 days after starting employment, depending on the employer. So, that would necessitate immediately enrolling in a Medicare Supplemental plan when leaving my current employer to avoid lifetime penalties, due to a gap in employer coverage, correct? Just want to make sure I avoid the lifetime penalty due to changing employers. Thank you for answering!
@@bigd3104 When leaving an employer plan you have 63-days to enroll in Part D (does not require Part B enrollment, just that you qualify), then you have 8 months to enroll in Part A & B. Once you are enrolled in Part B, you have 180-days to enroll in a supplement. Confusing as H. You will be fine.
@@MedigapSeminars Confusing is right. On purpose I believe. I should have said to enroll in Part B with "no gap" in healthcare coverage to avoid the lifetime penalty. Sorry about that. I've even went to the trouble of calling Medicare and Social Security about this very question, without getting a conclusive answer other than being told that I "should" sign up for Part B within 30 days of losing current employer healthcare coverage since I'm over 65. I really appreciate your help sir!
What is plan F
I am seeing a broker in my town and will be using your checklist and ideas. Thanks so much!
This is a great video, very informative. One thing I have yet to hear from any agent and I have been wondering if useing a broker from ones own state would be better than useing a broker from the other side of the US. I am considering giving ur firm a call.
Matthew - you may mention it in your video, but persons applying for MediGap coverage must have an approved Part "B" before the MediGap carrier can process the application. My wife and I are delayed in coverage because SSA didn't process our application before the MediGap company started our applications.
Thankyou Matthew.
It is very useful
In your rate increase example, aren't there 4 years indicated (2020, 2021, 2022 2023) not 3 years? If so, shouldn't the Increase History Average be 4.5% (18%÷4 yrs) not 6%?
I noticed the same. Total average yearly increase s/b 7.2% (not 8.7%). At 7.2% average, premiums will double in 10 years, not eight ("rule of 72")...
I LOVE your videos!
Thank you
Thank you. i will be 65 this july 24th. I will be calling you very soon. I am in California, i hope you can help me. Thank again
Very helpful and informative! Thank you!!
You are so welcome!
Thank you this video was very informative. Helps me in making the best decision for myself.
To me, it's important that our clients understand Medicare enough to be confident in their decisions and our advice. Please reach out to us and let us help with your supplement: medigapseminars.org/request-a-quote/ Our services are free and our after purchase help with Medicare / doctor billing issues is priceless.
Your videos are always very informative. Keep them coming.
Thanks. I will try.
Very helpful - Thank you for your time and effort.
You are welcome!
I love your videos! I am all set for Plan N with Jordan at your agency once I receive the completed employer coverage verification form from the company (Monday I hope). Once I have that, I can submit the Part B application, and can then finally enroll in the supplement with Jordan.
Great video loaded with important to know information. It is a shame how insurance companies are ripping off the american people. Not a fan of insurance companies and could care less when they go under. That being said it is the system we have. Why cant a person on forced to go on medicare get a policy with a decent blanket of coverage with a modest yearly price increase. Is that to much to ask for? What a bunch of crooks we have in this country.
With the average Medicare supplement, for every dollar you spend in monthly premium 85 cents goes out to immediately pay other peoples medical bills. That leaves the company with 15 cents on the dollar to pay overhead, salaries etc. That's why.
@MedigapSeminars Not sure I am 100% on board with those numbers you just quoted. Anytime you have people making millions in salary and not doing enough to justify that salary a burden is applied to the rest of the operation. My take is that I think the premiums can be a little lower with the modest increases resulting in tighter grouping of premium prices with the same quality of service. That being said I am not an expert on this.
@@sonnysamu2645 Those numbers are public information. I do not ever quote statistics that I can't back up. You can review the Gen Re annual survey of Medicare supplement plans. You can also find the information through the various state insurance commissioners and their association, NAIC
@MedigapSeminars Fair enough I stand corrected my apology. Why is it that the people at the top make have to make as much as they do? Don't you think prices would be a little more affordable for most if they were not making what they do? Lastly, are they actually committed to providing quality Medicare for all or our their decisions somewhat clouded up due to the greed factor?
@@sonnysamu2645 Medicare supplement plans do not make any decisions regarding your coverage. They pay as directed by Medicare. Medicare (a government organization) Approximately 85% of all claims are automated, no human intervention, and paid within 48-hours. You may be mistaking Medicare supplements with Advantage plans or Pharmaceutical companies.
Excellent!
😃
Thank you! Eagerly awaiting part 2!
Part 2 is out now: ruclips.net/video/77qVm7ibo7g/видео.html
Thanks for the videos. It was my understanding that if you choose a plan g and a few years later you want to switch to a new company, as long as you stay with a plan g there would be no underwriting. Is this incorrect?
It depends entirely on your state rules. Most states do not allow this. Some do.
Is it allowed in Southern California? Thx😊
Most people I know never listen to utube and really learn about this. How did they all figure this out. So confusing. So much money to lose.
I appreciate your straightforward approach.🙏🏻☑️ Thank you, Nicely done.
Hopefully, one category (or sub category) I heard in this video will be emphasized or highlighted in your upcoming video; please discuss:
Age of Entry vs Age of Attainment.
I'm not expert enough to know the intel about my F-HD plan's issuing company, but felt comfortable choosing based on Age of Entry at 68 (accepted by underwriters) during last year's AEP.
If I were to describe it, I might say that Age of Entry helps as a sort of compressor/limiter in terms of price increases for premiums over time. There may be no such thing as a fixed price forever but at least I'm not automatically or unnecessarily penalized for living longer.
There is no method of pricing a supplement that turns a for-profit insurance company into a philanthropist. They will always adjust prices to keep their margins.
I changed carriers from UHC to United American due to the person that worked for UHC stated that Plan G went up by 1.7% in the last 5 years and Plan N was 3.5 %. I said I always thought Plan G goes up higher than N. A friend that lives 3.5 miles away from me is on Plan G and had no price increase. Only 18 days on my policy I got a 8.5% increase with Plan N with UHC. I realize inflation affects this, but I heard also they raise your premium 2X a year. the person at UHC stated you Plan N increased due to I have a smaller pool size in my area. I don't know if that is true or not, but generally are not people on Plan N heathier than Plan G?
"Plan N increased due to I have a smaller pool size in my area" Not true There is a lot involved with what impacts price increases and a lot has changed since 2020.
Hi Matt! I am a new customer of yours starting on May 1st. Jessica was my agent. She was very professional and always helpful. She was telling me that after 2 year anniversary with United American if I wish to I can change from Plan G-Hd to a Plan N. After listening to your video about the pros and cons a plan G High deductible . You said in the state of Florida where premiums are high and also an issue age state, a high deductible can work for some people . I am saving 111.00 a month from plan end with United Healthcare to a plan g hi deductible with United American. There's something about United Healthcare/ AARP that I do not like or trust. I heard that UnitedHealthcare pays a billion dollars in royalty to AARP a year I am sure that cost is being carried over to the consumer to advertise for them. I truly don't believe that AARP it's not in the best interest for their members. That's just my opinion however. I did have to switch from Boomer Benefits to you, which I was sad because Boomer benefits was very proactive if you had any trouble with claims. But I heard that your team gives the same support so I felt better about that. Again Jessica is awesome and I'm glad she is my agent. She's definitely an asset to your organization. And the reason I signed up you after I left Boomer Benefits is because your videos are very educational and that you had a team could help like Boomer Benefits did.
Getting ready to sign up for a 1A plan in Massachusetts. It's more than confusing trying to decide what insurance company to go with after watching this video (I've been subscribed for a while) I don't seem to be able to find useful information on companies star ratings or rate increases to help me to make an informed decision
Massachusetts's is one of three states that opted out of standardized Medicare. It is also a state that charges non-resident agencies so much money that most, like us, will not get licensed in that state. I have an associate I can recommend it you wish. Call Deb at my office. 800-847-9680
Great video, thanks. I've watched this and others. I'll be reaching out next summer for quotes.
I am in PA - if I have Plan G or N and switch carrier, do I have to get underwriting? Also, what are the best companies to use in terms of long-term control of premiums and overall best rating?
In PA you have no guaranteed issue rights when changing plans. You will be underwritten. PA does not allow excess charges. Best companies? That is something we only discuss in person.
Thank you. Very useful info.
You are welcome!
Good information thank you
Mr. Classen,which company to select for plan G.Does the state where you live affect the price?Which one has higher premium,Illinois. Or Texas?Thank you and God Bless you,you a very good person.
Hi. For personal health, please use this phone to reach out to us. medigapseminars.org/request-a-quote/
Thank you for your useful videos. I have 2 cancers and will turn 65 in 2024 so I’ll need top notch guidance to make my decision about which part G and part D to choose. I’ve already done enough research to realize that Advantage plans are wrong for me and that a G plan is best. I’m kind of thinking that I might be better off spending a bit more for a Blue Cross plan.
When is the time to contract with an agent since my birthday is in June?
In my opinion, I would not recommend BCBS plans hint- that is not a large national company. see Part 2 of Hidden Risks please!
@@MedigapSeminars
Thanks. I’m looking at the plans. There are a lot to choose from. And, it looks like there are some instances that plan N might be better. I know lots of folks recommend AARP but I’m a retired medical person and despise UHC. Of course, maybe the best way I could stick it to them is to enroll since I’m expensive.
When do you suggest I call you? I turn 65 in June so I’m just in the pre-research stage.
Astute Plan G observation.
Thank you so much! I've got Medicare Plan F with Medigap. I think United Healthcare is charging me too much for my supplemental policy (around $300!) and am exploring the option of changing companies for a cheaper rate, long as it doesn't subject me to health questions. My health is good for a 73 year old; the only condition I have is an underactive thyroid, for which I take Armor, and I have no other medications. But I'd still like to avoid underwriting if at all possible. I'll be watching your Part Two video and keeping these links.
Give us a shot! medigapseminars.org/request-a-quote/
@@MedigapSeminars I will! Is it better to call, or go to the website?
@@leftykeys6944 Going to the website is fastest - it automatically adds your information to the system and puts you in cue for one of my team members to email a quote and call
@@MedigapSeminars -- Thanks again. Will do!
Are you familiar with Kaiser’s Medicare plan? Could you please elaborate on that ?
Kaiser is a enhanced HMO called HMO (POS). It’s an advantage plan nothing more.
Great, informative information.
Glad it was helpful!
Very helpful videos
Thank you!
I am so grateful to live in a state that has annial guaranteed rights whereas I can shop for the lowest price yearly without medical underwriting as long as I stay in the same, or less, category of supplemental plans.
Nothing is free. Those states see the highest price increases because the insurance companies must adjust prices to account for your unknown health. CA was the first state to start this and many people are price out of Medicare supplement plans as they get into their late 70s.
@@MedigapSeminars You are correct. I pay more for that privilege and I, too, may be priced out some day. However, I sure hate being at the mercy of these insurance companies. There is no free lunch, is there?
@@suemilkbone4868 sadly no. And we too, as brokers, are at the mercy of these beasts. One of the reasons I am in this business is my disdain for insurance companies and many doctors.
@@MedigapSeminars I totally agree. The more I watch videos like yours and read articles like Becker's Hospital Review, Fierce Healthcare, CMMI, CMS, Health Affairs Today, Health Care Uncovered, Patient Advocate Foundation, etc., the more disillusioned about the health care system in America. The corruption is rampant. I do look to you for your honest guidance, you're the best! 💚
When I tried to contact Mutual of Omaha, I am directed to TZ Insurance, regardless of the link or phone number I try. 1. Can I not purchase directly through Mutual of Omaha? and 2. Is TZ reputable? If you can't comment on question # 2, I understand.
I wonder if you could make Yes/No Flow Chart?
what are the questions? I'm not sure I understand.
If you are in a state with birthday rule can't you always change your plan every year and get the lowest price every year, because you can change without underwriting?
Yes, but…in every state that does this your premiums increase significantly over time because the insurance companies need to raise rates to compensate for the fact they have no idea what your health is. In addition, in all but 9 states they will not compensate agents or brokers for guarantee issue policies, so you re on your own.
Is that true in Oregon?
Nothing is free. Those states see the highest price increases because the insurance companies must adjust prices to account for your unknown health. CA was the first state to start this and many people are price out of Medicare supplement plans as they get into their late 70s. Plus, the insurance company will not compensate agents for helping, so that is something you must do on your own.
Hi Matthew was thinking do married couples use separate insurence companies especially if there is a difference in current health conditions?
Some companies also just give you a discount if you live with another adult (or spouse). You can even be with different insurance companies or not even eligible for Medicare yet. Example: I just signed up for a Plan N supplement and I got a 12% discount on the rate since I live with my spouse. My spouse will not be 65 until April 2025. They just give the discount since they consider people who live with another adult/spouse will be happier and healthier. Weird, but I'll take the discount! Health conditions don't really come into the picture with Supplement plans as long as you sign up during your initial enrollment or another special enrollment that doesn't require underwriting.
Always consider your plans separately to meet your needs. There are discounts usually available that differ from state to state and company to company. We take that all into consideration when advising on your plan.
@@tomm7505 Keep in mind that the spousal discount is reversed if your spouse predeceases you or with divorce. Ugly. But you should know just in case.
@@MedigapSeminars Matthew, under the "Household Premium Discount" section of my MoO Supplemental policy, it states: "Your policy's household premium discount will be removed if the other adults no longer reside with you (other than in the case of their deaths)." So, I assume that means that if my spouse dies, I will still keep my discount with MoO. That is a very nice feature. I assume, like you said though, if there's a divorce then I would lose the discount -- but that isn't going to happen for me 🤞