Medicare Supplement Companies

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munemaker
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Re: Medicare Supplement Companies

Post by munemaker » Fri Aug 10, 2018 4:36 pm

I am now eligible to sign up for Medicare, which I have done.

I spent a lot of time studying the choices, supplements vs Advantage plans. I ultimately settled on an Advantage Plan through UPMC, the dominant provider in our area. The premium is only $20/month (beyond part B). It does have a $750/year deductible, but all the preventive stuff is covered with no deductible. It is a HMO, meaning it does have a network of providers. It includes prescription coverage, preventive dental (with co pay), vision exam (every 2 years) and a choice of health club memberships. It includes coverage in PA and FL, with emergency coverage elsewhere. For me, it seemed like the best value.

I guess every area does not have access to good Advantage plans, but it is worth a look, even if you decide to go with the supplement.

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Toons
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Re: Medicare Supplement Companies

Post by Toons » Fri Aug 10, 2018 4:38 pm

Plan G
Mutual of Omaha for me.
3 years
No complaints.
:happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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dm200
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Location: Washington DC area

Re: Medicare Supplement Companies

Post by dm200 » Fri Aug 10, 2018 5:04 pm

munemaker wrote:
Fri Aug 10, 2018 4:36 pm
I am now eligible to sign up for Medicare, which I have done.
I spent a lot of time studying the choices, supplements vs Advantage plans. I ultimately settled on an Advantage Plan through UPMC, the dominant provider in our area. The premium is only $20/month (beyond part B). It does have a $750/year deductible, but all the preventive stuff is covered with no deductible. It is a HMO, meaning it does have a network of providers. It includes prescription coverage, preventive dental (with co pay), vision exam (every 2 years) and a choice of health club memberships. It includes coverage in PA and FL, with emergency coverage elsewhere. For me, it seemed like the best value.
I guess every area does not have access to good Advantage plans, but it is worth a look, even if you decide to go with the supplement.
Glad you found a plan that seems to fit your needs so well.

drawpoker
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Location: Delmarva

Re: Medicare Supplement Companies

Post by drawpoker » Fri Aug 10, 2018 5:49 pm

MtnBiker wrote:
Fri Aug 10, 2018 3:43 pm

..... selected a well-known company (Aetna) with the second lowest rate (after 5% household discount)..... concern was that the "new" provider may have started off with a "teaser rate" to gain initial subscribers in my state, and then would increase prices later. I don't know if that is a legitimate concern or not.

The Aetna rate increase was 7% at the one year renewal date. My hope is that future increases will not be quite that high.
Am quite sure most all insurance companies would love to do just as you described. But, they still have to go through the process of filing rate increase requests with the state regulators. And justifying thru claims experience & other expense that the increase is needed to get them approved. Then it would (should) be discovered they had deliberated low-balled prices that could not be sustainable.

Of course, that brings us right back to the question of which states are lax with insurance regulation and which ones are friendlier to the consumer :|

So as not to get any unexpected nasty surprises I always check this actuarial website every month to see which companies have filed for Medigap premium hikes. Just looking at this one, see where Aetna will go as high as 9% in some areas. Just be glad you didn't buy Manhattan Life. 15%
(Recommend bookmarking this link for future reference)

https://www.csgactuarial.com/2018/07/me ... rt-july-2/

MtnBiker
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Re: Medicare Supplement Companies

Post by MtnBiker » Fri Aug 10, 2018 8:57 pm

drawpoker wrote:
Fri Aug 10, 2018 5:49 pm

So as not to get any unexpected nasty surprises I always check this actuarial website every month to see which companies have filed for Medigap premium hikes. Just looking at this one, see where Aetna will go as high as 9% in some areas. Just be glad you didn't buy Manhattan Life. 15%
(Recommend bookmarking this link for future reference)

https://www.csgactuarial.com/2018/07/me ... rt-july-2/
Good information. Thank you.

khh
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Joined: Sat Dec 27, 2008 10:31 pm

Re: Medicare Supplement Companies

Post by khh » Sat Aug 11, 2018 3:47 am

Toons wrote:
Fri Aug 10, 2018 4:38 pm
Plan G
Mutual of Omaha for me.
3 years
No complaints.
:happy
Year 2 of Cigna Plan G. No premium increase so far.
:sharebeer

Eureka
Posts: 1117
Joined: Thu Apr 05, 2007 10:24 pm
Location: Illinois

Re: Medicare Supplement Companies

Post by Eureka » Sun Aug 12, 2018 1:46 am

drawpoker wrote:
Fri Aug 10, 2018 5:49 pm


So as not to get any unexpected nasty surprises I always check this actuarial website every month to see which companies have filed for Medigap premium hikes. Just looking at this one, see where Aetna will go as high as 9% in some areas. Just be glad you didn't buy Manhattan Life. 15%
(Recommend bookmarking this link for future reference)

https://www.csgactuarial.com/2018/07/me ... rt-july-2/
Thanks for the interesting link. It would be nice if it gave a more granular look at premium increased by area and plan letter. I suppose you could pay for that.

That big Manhattan Life increase was interesting, because I have repeatedly seen in my research that Manhattan and its subsidiaries have some of the lowest supplement premiums and have had some of the lowest premium increases in recent years. I suppose it's possible they've filled their book and will now jack up premiums. A Manhattan subsidiary had one of the lowest premiums for my ZIP code in Illinois. Illinois, by the way, has some of the loosest insurance regulations in the country. Basically, a company gets whatever it asks for. The state can only jawbone.

I have also read more than one place that Mutual of Omaha almost never has the lowest supplement premiums, but it had the rock-bottom premium in my ZIP code for Plan G and nearly the lowest for Plan F.

Another thing to consider is how often a company raises premiums. I looked back in those reports to late 2016. It was hard to detect a pattern for any particular company. Some had decreases. I suppose it's possible that some companies have smaller increases more often and others have bigger increases less often. I wonder which annoys customers more.

drawpoker
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Location: Delmarva

Re: Medicare Supplement Companies

Post by drawpoker » Sun Aug 12, 2018 3:30 pm

Eureka wrote:
Sun Aug 12, 2018 1:46 am

Thanks for the interesting link. It would be nice if it gave a more granular look at premium increased by area and plan letter....... Another thing to consider is how often a company raises premiums.......was hard to detect a pattern.....suppose it's possible that some companies have smaller increases more often and others have bigger increases less often...
Besides the monthly premium increases report, when you click on "Medicare Supplement" on the right-hand menu, there will be articles like "Who's Hot In Medicare Supplement". Generally, that contains specifics on which companies are doing extremely well (hot) in which markets. Also some other tidbits about trends, growth numbers for certain letter Plans in certain areas.

I believe I read this: As a general rule, premium increases should be less in Plan G than in Plan F. Because, no matter how much the gumbmint keeps raising the Part B deductible amount each year, it is no skin off the teeth of the insurer. The policy holder eats the entire Part B deductible with Plan G. Unlike Plan F where the company is on the hook to pay up.

Makes sense. But, of course, all that could go straight in the crapper if a company had a whole lot of Plan G holders getting really, really sick, while their Plan F people stayed in really, really good health. :oops:

What doesn't make sense (to me) is why Plan G (and also N) are excluded from the choices available under guaranteed issue status, yet Plan F isn't (?)

(This is supposed to change on Jan. 1, 2020, when Plan F will close to newly-eligible. Then, Plan G is supposed to go back on guaranteed issue status. But I don't get why it has been off the table for so long.
Wish some insurance person would come on here and explain that one)

earlyout
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Re: Medicare Supplement Companies

Post by earlyout » Sun Aug 12, 2018 4:22 pm

dm200 wrote:
Sun Jul 29, 2018 2:45 pm
rbslos36 wrote:
Sat Jul 28, 2018 7:21 pm
I am going on Medicare soon and am wondering which of the following companies, if any, you can recommend. How have the price increases been on your policy? I plan on purchasing Plan G from either Cigna, Mutual of Omaha or AARP United Healthcare. Cigna and Mutual of Omaha are around $105. The AARP plan is $123.00.
Gratefully,
RB
If you have not already done so, I recommend fully evaluating Medicare Advantage (MA) plans offered in your area. With an MA plan, you do not buy a Supplement (Medigap).
YMMV. WIth my Medicare Advantage plan (PPOI) I get to argue with Aetna about almost every claim I file. I think those insured by Kaiser Permanente HMO Medicare Advantage plans may be the only ones really happy with their Medicare Advantage insurance.

earlyout
Posts: 1359
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Re: Medicare Supplement Companies

Post by earlyout » Sun Aug 12, 2018 4:23 pm

dm200 wrote:
Sun Jul 29, 2018 2:45 pm
rbslos36 wrote:
Sat Jul 28, 2018 7:21 pm
I am going on Medicare soon and am wondering which of the following companies, if any, you can recommend. How have the price increases been on your policy? I plan on purchasing Plan G from either Cigna, Mutual of Omaha or AARP United Healthcare. Cigna and Mutual of Omaha are around $105. The AARP plan is $123.00.
Gratefully,
RB
If you have not already done so, I recommend fully evaluating Medicare Advantage (MA) plans offered in your area. With an MA plan, you do not buy a Supplement (Medigap).
YMMV. WIth my Medicare Advantage plan (PPOI) I get to argue with Aetna about almost every claim I file. I think those insured by Kaiser Permanente HMO Medicare Advantage plans may be the only ones really happy with their Medicare Advantage insurance.

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dm200
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Location: Washington DC area

Re: Medicare Supplement Companies

Post by dm200 » Sun Aug 12, 2018 4:28 pm

earlyout wrote:
Sun Aug 12, 2018 4:23 pm
dm200 wrote:
Sun Jul 29, 2018 2:45 pm
rbslos36 wrote:
Sat Jul 28, 2018 7:21 pm
I am going on Medicare soon and am wondering which of the following companies, if any, you can recommend. How have the price increases been on your policy? I plan on purchasing Plan G from either Cigna, Mutual of Omaha or AARP United Healthcare. Cigna and Mutual of Omaha are around $105. The AARP plan is $123.00.
Gratefully,
RB
If you have not already done so, I recommend fully evaluating Medicare Advantage (MA) plans offered in your area. With an MA plan, you do not buy a Supplement (Medigap).
YMMV. WIth my Medicare Advantage plan (PPOI) I get to argue with Aetna about almost every claim I file. I think those insured by Kaiser Permanente HMO Medicare Advantage plans may be the only ones really happy with their Medicare Advantage insurance.
I have several friends/acquaintances who are very, very happy with their Humana plans. Some others in Florida have indicated happiness aith plans there (not Kaiser) and one from Western NY state happy with her MA plan (not Kaiser).

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munemaker
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Re: Medicare Supplement Companies

Post by munemaker » Sun Aug 12, 2018 5:33 pm

earlyout wrote:
Sun Aug 12, 2018 4:23 pm
WIth my Medicare Advantage plan (PPOI) I get to argue with Aetna about almost every claim I file. I think those insured by Kaiser Permanente HMO Medicare Advantage plans may be the only ones really happy with their Medicare Advantage insurance.
In Western PA, UPMC (University of Pittsburgh Medical Center) is by far the dominant medical provider and they are also an insurer. For the past 2 years, DW and I have been on ObamaCare through UPMC. Being the insurer and provider, there are no insurer/provider squabbles, not that they don't occasionally make a billing error though.

We have been very pleased with our UPMC plan through ObamaCare and so we are going to go with UPMC HMO for Medicare. It is very similar to the ObamaCare plan, but there are some differences. The UPMC Medicare HMO covers a broader network and also has coverage in Florida (presumably for snowbirds).

The UMPC HMO Advantage plan looks really good on paper, and considering our ObamaCare experience, our expectations are high. Just sent in the forms and not in the plan until later this year.

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dm200
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Re: Medicare Supplement Companies

Post by dm200 » Sun Aug 12, 2018 6:07 pm

munemaker wrote:
Sun Aug 12, 2018 5:33 pm
earlyout wrote:
Sun Aug 12, 2018 4:23 pm
WIth my Medicare Advantage plan (PPOI) I get to argue with Aetna about almost every claim I file. I think those insured by Kaiser Permanente HMO Medicare Advantage plans may be the only ones really happy with their Medicare Advantage insurance.
In Western PA, UPMC (University of Pittsburgh Medical Center) is by far the dominant medical provider and they are also an insurer. For the past 2 years, DW and I have been on ObamaCare through UPMC. Being the insurer and provider, there are no insurer/provider squabbles, not that they don't occasionally make a billing error though.
We have been very pleased with our UPMC plan through ObamaCare and so we are going to go with UPMC HMO for Medicare. It is very similar to the ObamaCare plan,
but there are some differences.
The UPMC Medicare HMO covers a broader network and also has coverage in Florida (presumably for snowbirds).
The UMPC HMO Advantage plan looks really good on paper, and considering our ObamaCare experience, our expectations are high. Just sent in the forms and not in the plan until later this year.
I am sure you will encounter some. My wife (5 years younger) was on Obamacare with Kaiser while I was on Kaiser Medicare. One big difference we noted was that she had to pay for blood tests, while there is jo charge for blood tests on our Medicare Kaiser plans.

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