Lower Medigap Rates
If you are looking to lower your current Medigap Rates or purchase a policy with lower Medigap Rates we have a strategy for you. As of 2013, the Plan F Medicare Supplement is the most popular Medigap policy sold. However, it is also the plan that receives the highest rate increases across the country as well.
Why Does Plan F get higher rate increases?
The Plan F receives higher rate increases since it is a Guaranteed Issue Plan (no health questions) and because it is what most people enroll in when turning 65. Then several years later when the rates have increased they are unable to switch due to health conditions.
If you are thinking, "Aren't all plans guaranteed issue when your turn 65?" All plans are guaranteed issue when your turn 65 this is called the Open Enrollment Period. However, there are several plans (A, B, C, F) which are guaranteed issue in situations where someone is losing coverage. An example would be if John Doe at the office retired at 69 after having a heart attack. He could get the Plan F without any health questions even if he enrolled in Part B when turning 65.
So how do we protect ourselves from getting these rate increases?
Lower Medigap Rates
Medicare Insurance Finders and MWG Senior Services recommends choosing a Plan G Medicare Supplement to keep your rates down for the long haul. These plans have lower rate increases than most plans and will typically be 10% - 15% cheaper than the Plan F at your initial purchase price.
PLAN F vs. PLAN G Rates
A prominent Medicare Supplement Company released their rate increases today (April 13, 2013) for their Medicare Supplement Plans in North Carolina. The Plan G received a 7.9% rate increase while the Plan F received an 18.3% rate increase.
The insurance company is one of the 20 largest health insurance companies in the world and is an "A" rated carrier. This shows that financial strength does not mean that the insurance company will not give large rate increases. This is why we recommend the Plan G to lower Medigap rates.
Compare Plan G Medicare Supplement Rates
How should I compare Plan G Medicare Supplement rates? There are several ways to compare these plans and we have listed them below:
- Go To the Medicare Supplement Quote Engine offered by Medicare Insurance Finders to get quotes in your zip code. These rates are displayed online for you to see - it is not a lead form that has agents from all over the country calling you.
- Call 1-877-936-2991 to speak with a certified Medicare Supplement Advisor that can help you Lower Medigap Rates and provide you with southern hospitality.