Hot Medicare News

[vic120]

I was using an IMO’s quoting tool. Most quotes said they were attained age rated, but a couple said they were community based rated. I didn’t come across any community based when I was writing my wife (or I just didn’t notice). They’re a little higher priced, but my understanding is since the community based rates don’t raise with age, they might be less expensive than the attained age rates in the future. I’m sure that’s true in theory, but what experience have y’all had with those?

They all go up in TX I do see more stable rates in NY with comunity bases but its already expensive and no underwriting

But I don't see that trend on community based in other states maybe FL not as bad but again more expensive to begin with

The biggest increases are with the mutual, aetna and so forth But eventually it hits others as well

 

[LostDollar]

I was using an IMO’s quoting tool. Most quotes said they were attained age rated, but a couple said they were community based rated. I didn’t come across any community based when I was writing my wife (or I just didn’t notice). They’re a little higher priced, but my understanding is since the community based rates don’t raise with age, they might be less expensive than the attained age rates in the future. I’m sure that’s true in theory, but what experience have y’all had with those?

@somarco says that trying to predict Medigap pricing is a fools' game.

I'm not entirely sure if I understand her posts correctly, but my interpretation of @kgmom219's posts is that she goes with two different price options when she does her medigap presentations. You can take the low priced route if you want, as long as you don't yell at me later when the price goes up. Or you can do BCBS now, with a higher price but a better chance at a more stable rate. However, that plan took a beating this year because she posted about some good sized rate increases with BCBS and was asking for some agent help on info with another carrier, I think UHC.

I bought an issue age HDF two months before the carrier closed the book on it because I thought it will have fairly stable pricing. @somarco would say, "There's another one predicting prices. In 3-4 years he'll be in the middle of the lake going down for the third time. Wait for it."
(And I am NOT going to suggest he may not be right, I am just gambling otherwise.)

In 2016 in KS I had an agent strongly wanting to sell me an Aetna G. I had another agent wanting to sell me a Cigna G. (Cigna had just come off CMS sanctions and had a very hot G price.) In 2022 the Aetna carrier has closed book and changed its name for new business; the cigna policy is much more expensive and my guess is they are getting ready to change carrier names too.

All you can do is decide what health and end of life assumptions you want to factor in for the next 15-20 years and, after listening to others for awhile, decide what carrier pricing assumptions you want to make and pull the plug on the purchase. You may turn out to be right or you may turn out to be wrong.

 

[somarco]

Thanks. I’ll probably write myself into the same company that my wife’s with to get the HH discount. Interesting thought on plan N. I was just looking at that. Worth considering instead of the HDG (which that particular company doesn’t offer, anyway).

G or HDG is my suggestion.

Wife and I both healthy . . . no med's for me, wife started BP med a few months ago . . . neither of us have used our drug plan . . . cash/GoodRx cheaper for what we have now.

IMO Part D can be worth it if you are taking expensive drugs, especially brand with no generic alternative. Some of the diabetic meds (insulin is crazy expensive), asthma/COPD med like Trelegy very expensive $300+ (I think Trelegy is over $500 now).

Some of the PDP have insulin for $30 or so vs $200+ . . . Trelegy for $60. I have a few clients on Trelegy and I think they have a $70 premium plan. The insulin plans are around $40.

Some states have better "deals" on N . . . haven't found that to be true in GA, so I quote G and if they want something cheaper, HDG.

Wife has G, I have HDF (bought before it was discontinued, no regrets), still priced lower than HDG.

Stay away from community rated plans . . . that is a snake pit.

 

[goillini52]

I was using an IMO’s quoting tool. Most quotes said they were attained age rated, but a couple said they were community based rated. I didn’t come across any community based when I was writing my wife (or I just didn’t notice). They’re a little higher priced, but my understanding is since the community based rates don’t raise with age, they might be less expensive than the attained age rates in the future. I’m sure that’s true in theory, but what experience have y’all had with those?

Illinois is an attained age state. There are 4 companies that are issue age, PMIC offers both. Issue age is just a gimmick, as is community rated.

The only community rated we have is AARP and they're the highest priced by $125 a month more than the next highest priced for a 65 year old female. AARP just came out with a new policy that leaves off some things like the gym and other stuff(not sure what else is different, I don't have them). It's reasonably priced, but still $20 more a month than the lowest priced for a 65 year old female. The price is the same for a 65 year old as a 90 year old. For a 90 year old female, the price isn't the most expensive, it the 59th lowest price out of 64 companies.

I think you're better off taking an attained age policy. It's less money now, and in a few years your attained age policy will still be less money.

 

[goillini52]

@somarco says that trying to predict Medigap pricing is a fools' game.

I'm not entirely sure if I understand her posts correctly, but my interpretation of @kgmom219's posts is that she goes with two different price options when she does her medigap presentations. You can take the low priced route if you want, as long as you don't yell at me later when the price goes up. Or you can do BCBS now, with a higher price but a better chance at a more stable rate. However, that plan took a beating this year because she posted about some good sized rate increases with BCBS and was asking for some agent help on info with another carrier, I think UHC.

I bought an issue age HDF two months before the carrier closed the book on it because I thought it will have fairly stable pricing. @somarco would say, "There's another one predicting prices. In 3-4 years he'll be in the middle of the lake going down for the third time. Wait for it."
(And I am NOT going to suggest he may not be right, I am just gambling otherwise.)

In 2016 in KS I had an agent strongly wanting to sell me an Aetna G. I had another agent wanting to sell me a Cigna G. (Cigna had just come off CMS sanctions and had a very hot G price.) In 2022 the Aetna carrier has closed book and changed its name for new business; the cigna policy is much more expensive and my guess is they are getting ready to change carrier names too.

All you can do is decide what health and end of life assumptions you want to factor in for the next 15-20 years and, after listening to others for awhile, decide what carrier pricing assumptions you want to make and pull the plug on the purchase. You may turn out to be right or you may turn out to be wrong.

Turns out that you and Somarco think alike. You both have HDF's.

 

[LostDollar]

Turns out that you and Somarco think alike. You both have HDF's.

Most of my best friends have, or will have, those HD Medigap thingys!

@somarco HDF
Rick Has, or will have, HDF or HDG
@Yagents will have HDG

But
@FLM2 went MAPD

And
I don't know @sshafran's predilections

(I deliberately used the at sign, no prediction on whether or not you need to get out your popcorn.)

 

[shonceman]

Thanks for the input, everybody. At this point, I’m probably getting plan G with the same company as my wife. Have a great weekend!

 

[sshafran]

And
I don't know @sshafran's predilections

(I deliberately used the at sign, no prediction on whether or not you need to get out your popcorn.)

I have a little over 27 years before I need to make my final decision, so I'm still thinking about it.

 

[LostDollar]

I have a little over 27 years before I need to make my final decision, so I'm still thinking about it.

Ok!, Important decision there, you wouldn't want to make a snap judgement on it!

 

[sshafran]

Ok!, Important decision there, you wouldn't want to make a snap judgement on it!

Haha, just doing my research...