In my area, it seems that Humana has had the cheapest initial premium for Plan G. I noticed recently that UHC is actually a few dollars less now. I'm not certain if I should be using them more or not. I want whatever is best for my clients. My understanding is that Humana is Attained Age, and UHC is Community-Rated. I don't have a grasp for which plan would have lower increases moving forward, or if there is a way to see the historical increases. I know that the UHC discount gradually reduces each year, whereas the Humana premium gradually increases. Is there a good way to assess the two, aside from the different initial premiums. I apologize for the question...I am a newer producer, so I'm trying to learn as much as possible.
Medigap Supplement Plan G Pricing - Humana (Attained Age) vs UHC AARP (Community-Rated)
- Thread starter cai24
- Start date
True community rated plans charge the same rate for the same plan . . . regardless of age, gender or zip code.
AFAIK there is only one community rated carrier in Georgia (where I am). They hit the market with a splash about half a dozen years ago. Cleaned everyone's clock on T65 rates for plan F . . . also a fantastic deal at age 90 that would pay the same rate as someone 65. A few years ago they introduced the G plan and rates were HIGHER than F plans.
They obviously had no clue what they are doing.
I never hear about them any more. A few years of rate increases and they are overpriced for anyone under age 75 or so but still killing it on age 80 and up . . . if you can pass underwriting.
They are a direct writer so no agent involvement.
Historical rate increases are meaningless . . . especially with carriers that rotate in and out of the state on a cycle.
Memorize this: "Sue, I can't predict the future. I do not have a crystal ball. I dont want to pretend to know the price in 2033.
But, this carrier is both established and they have good rates today - you mentioned that this was important to you - so, they seem like a good fit. The alternatives look decent as well but this one is ______ [x dollars less / offering the fitness benefit.... whatever]___.
Every company will go up in the future. This one looks good *today*"
- 6,469
(Caveat, not an agent)
I have been a non-agent member of the forum for 5 years. I have seen questions centering around the concept of agents predicting medicare supplement price increases several times over those years. The answers you have received here are consistent with the answers most experienced agents have provided every time they see that question.
I think Somarco's succinct response was/is something like "Attempting to predict Medicare Supplement price increases is a fool's game.".
I tell folks, "If I could predict the future I would be buying lottery tickets instead of selling insurance.".
- 709
You have a 50/50 shot with either choice.
But, i will say that in my experience, none of my 700 UHC med supp clients over the past 8 yrs in AZ and FL have ever jumped to another carrier based on premium savings.
Either they can't due to health reasons, or not worth the $10-20/mo in savings
But, i will say that in my experience, none of my 700 UHC med supp clients over the past 8 yrs in AZ and FL have ever jumped to another carrier based on premium savings.
Either they can't due to health reasons, or not worth the $10-20/mo in savings
