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Medigap Supplement Premiums: 3 ways Medigap Plans are Priced
If you already have a Medigap plan or you are researching options, you may want to know how carriers price their Medicare Supplement premiums, so you can have a good grasp about how future rate adjustments work.
In this video, I’ll cover the three pricing methods insurance carriers use to determine Medigap premiums.
Attained-Age Medigap 1:41
Issue-Age Medigap 4:30
Community Rated Medigap 6:31
We’ll review the definition, according to CMS, for each pricing method and then break down the pros and cons.
I’ll also explain how a Community Rated Medigap Plan can include an age based enrollment discount.
And, make sure you stay to the end for my bonus tips…where I answer the question…”what’s the best pricing method?”
Thanks for watching!
What do you think is the best method for pricing Medicare Supplement premiums?
MILF
Thanks once again for great information. I appreciate and value your expertise. For all of you shopping coverage, make your life easy and call Joann. You will save time, money and headache. Totally worth the call
Nice One
Thanks again for the very useful information. I am in an issue age state so there is no choice.
Thanks Joann, another very informative video. Yours are some of the best for people to understand about how medigap works. Glad you are doing all the work as I would be lost if I had to figure out what is best plans for us.
Hi Mr. Chadwick…thank you for the positive feedback. Having great clients, like yourself, makes my job very rewarding.
Thanks Joann, another very informative video. Yours are some of the best for people to understand about how medigap works. Glad you are doing all the work as I would be lost if I had to figure out what is best plans for us.
Hi Mr. Chadwick…thank you for the positive feedback. Having great clients, like yourself, makes my job very rewarding.
Very informative, thank you. Where do you find your premium history on all these different plans? Is there a lookup out there somewhere? Thanks again!
Premium history is usually not made public by the insurance carriers. But, as an insurance agent I have access to rate history and projected age increases thru a quoting tool. If you’d like a peek at rate information in your area, please reach out. My email is [email protected]. Thanks for watching. I’m glad you found this video informative.
Is United American in Florida an issue age Medigap insurance? Do you know what Medicare will charge in 2019 for Part B if you make under 100K? Thank you!
All insurance companies (in Florida) price Medigap based on Issue Age. This link takes you to Medicare’s website where you can view a chart representing costs for Part B based on our income from two years ago. https://www.medicare.gov/your-medicare-costs/part-b-costs
Which one is Mutual of Omaha for Michigan seniors?
Mutual of Omaha is Attained Age in Michigan.
If Medicare doesn’t cover a procedure or equipment, will medicap cover it?
That’s a great question. Medigap plans only cover their portion of costs for Medicare approved services. In other words, Medigap pays if Medicare approves your claim.
REMEDIGAP then it is worthless
Scam alert aarp