Medicare Supplement Rates Changes (2024)

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Medicare Specialist - Abt Insurance Agency

8 ай бұрын

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Пікірлер: 122

@pamburton6382 8 ай бұрын

Thank you so much for this information.

@jimandhuck2023 8 ай бұрын

Folks--I’m 67 soon 68…HEED HER WORDS and be careful…I chose Plan N and am sooooo glad. Advantage plans are pay as you go… got $1000’s ..2,5, 8, 10?…”laying around for a bad event? You don’t do that with your car/home insurance, do you? Educate yourself, bros and sis’s….

@judygilbert9628 8 ай бұрын

True but in the long run if you are a healthy my plan Medicare advantage PPO is always cheaper than.paying a fee monthly. Yes if you have a bad medicale year you ,May pay more . If you are healthy you can save for that eventuality . My advantage plan is 0.00 per month was paying 180 a month for a supplement plan 2160. And you still have to pay for part D This year I have paid under 100. For my co pays etc. Just save the money you would be paying for a supplement plan. Again for the healthy and most definitely see what your advantage plan does pay. All the information is available

@mpudwu 8 ай бұрын

Advantage plans have an out of pocket maximum. They are a good option for a lot of people. Maybe not you, you're allowed to decide what kind of insurance you want. Your insurance might not be right for other people.

@jimandhuck2023 8 ай бұрын

@@mpudwu I agree…the max is what I’m referring to--those are the thousands. I’m simply saying I and many won’t take a house or car insurance policy with deductibles of say $4-10K would you? That’s how most advantage plans work. Ask some your friends or family who’ve been there. My costs with Medigap are $20 Dr, $50 ER, and the Medicare deductible. With Adv, you’re on the hook before they pay….should they actually pay. More and more often they just don’t. Need a hip replacement in some cases? Too bad.

@mpudwu 8 ай бұрын

@@jimandhuck2023 but if you have a MAP with a zero dollar premium, a $4900 maximum out of pocket (which healthy people won't even come close to), that can be a way better option for some people. With a supplement plan, you're just paying ahead of time for services some people might not need.

@niceman0901 7 ай бұрын

The reason you don’t see the way Medicare Advantage works in your home or auto insurance is because those insurances have nothing to do with tax dollars. If the Feds did not invite private insurance companies to participate and offer Part C in the 1980’s Medicare would have been bankrupt by now. Medicare Advantage has prevented a lot of occurrences of fraud, waste and abuse in using public funds. It is also a great way for people who cannot afford Medigap plans to get reasonable and decent medical insurance coverage.

@user-pp8ly2wn6t 8 ай бұрын

This is a fantastic video. It's clear and easy to understand your explanations. Thank you for providing this information.

@AbtInsuranceAgency 8 ай бұрын

You're very welcome!

@chrisUSA 8 ай бұрын

Mrs. Abt, you are GREAT!

@AbtInsuranceAgency 8 ай бұрын

Thank you!

@davidk.7264 7 ай бұрын

Thanks for your explanation.

@AbtInsuranceAgency 7 ай бұрын

You are welcome!

@shirandabrown9761 8 ай бұрын

I wished that supplement plans offer a way to get patients to and from Dr appointments or I would get a supplement they sound better than advantage plans......like that i am able to choose who I see for medical care 😊

@rubyus7332 8 ай бұрын

Thank you for your informative video.

@AbtInsuranceAgency 8 ай бұрын

You are so welcome!

@randylittle4028 8 ай бұрын

I really appreciate the communication! Glad I found you.

@AbtInsuranceAgency 8 ай бұрын

Me too! 😀

@beekind6267 8 ай бұрын

Here! Here!! Me too! 🤗

@user-et4dy8bc7e 7 ай бұрын

Hi this is an additional question on Medicare Supplement Plans. When the Insurance Company is determining there annual rate increase is the Increase percentage the same for each Plan Letter ( i.e.Plans - A through N ) or is the percentage applied specific to each Plan based on the factors you mention in your video ( Increase in medical expense, Claims paid, Inflation, etc ) For myself I was grandfathered in the ( F ) which is no longer available to new enrolmenets. As the enrollment in plan F will only decrease over the years and if pricing is set by Plan type then I should expect that the increases in plan ( F ) will be higher than the other plans ?

@heavenlysunshine1891 7 ай бұрын

thanks for the videos.

@AbtInsuranceAgency 7 ай бұрын

Glad you like them!

@geraldinefields1730 8 ай бұрын

Thank you.

@AbtInsuranceAgency 8 ай бұрын

You are welcome!

@M2M-Ralph 8 ай бұрын

Wow, brilliant. Every "senior" should subscribe and watch. I now am in Missouri and have had AARP UHC "F" since 2015 retirement eligibility. I had thyroid cancer in 2004, then recurrent in 2020. Otherwise healthy. Hard to leave "F" given out of pocket costs for any surgery. My premiums continues to increase however, but most articles suggest cancer history will almost always cause rejection of new applications if I wanted to compare carriers--do you agree? Thanks again for the great info and the clarity of your comments and insight.

@AbtInsuranceAgency 8 ай бұрын

Typically if you are at least 2 years totally cancer free you can pass through underwriting for a new Medigap plan. BUT Missouri has other special rules that can allow you to bypass underwriting all together! We can help. 888-465-9728

@M2M-Ralph 8 ай бұрын

@@AbtInsuranceAgency thanks --my anniversary date is July and I have not received any notifications on premium increases but did some previous sleuthing and it seems likely UHC will increase significantly next year. I have your info and will reach out when I am ready to re-evaluate plans. I am aware of the MO exception. Trick is while I am "cancer-free" for past three years, my particular disease now manifests as a somewhat rare NTRK "fusion" cancer and requires regular on-going Oncology diagnostics (PET, etc) , medication and will probably be a red flag "risk" for most insurers. Thanks again, keep up the good work--people need this.

@Dee--Jay 8 ай бұрын

Can you get a none medicare health insurance to pair with original medicare?

@12qwerty56 8 ай бұрын

You make some fantastic videos! They are short and to the point. I live in California and know about the "birthday rule" (from one of your previous videos), which allows me to switch from one supplemental plan to another without medical underwriting. Does the birthday rule also apply when switching from a supplemental plan to an advantage plan? Or, is it even possible if you're already out of the Oct-Dec window you mentioned earlier? Maybe you can make a future video on switching from a supplemental to an advantage plan, since a lot of videos already discuss how to go from advantage to supplemental.

@AbtInsuranceAgency 8 ай бұрын

You can switch from a Medicare Supplement to a Medicare Advantage Plan every year from Oct. 15th - Dec. 7th 🙂

@nelidagarcia7412 7 ай бұрын

Can you explain what the 'birthday rule is? I really liked your video.@@AbtInsuranceAgency

@bruceg 8 ай бұрын

Very knowledgable explanation. Well done. However..... When I picked my Plan G three years ago I went with a slightly higher beginning rate from Mutual of Omaha, but based on their past rate of increases it looked like the best plan. Well - NOT anymore. Rates have gone up pretty dramatically. In fact this year it is 21%. These rate increases are not sustainable when I finally do retire. So it seems to me that it's like those giving advice in the stock market. "Past performance is no guarantee of future results." Unfortunately I was diagnosed with melanoma 8 years ago that apparently will never allow me to obtain good rates going forward. I'm stuck with Mutual of Omaha and pretty much screwed.

@AbtInsuranceAgency 8 ай бұрын

That’s unfortunate to hear. Many insurance companies only have a 2-3 year look back for cancer and melanoma so perhaps it could be possible to switch and go through underwriting?

@bruceg 7 ай бұрын

@@AbtInsuranceAgencyThe form I (my agent) filled out even stated "in the last 5 years have you...", yet the underwriter called me to get details. My skin cancer was caught early and very minor. This was AARP United Healthcare. They would not give me the low rate but the higher rate at almost $100 more per month. I am sticking with MoO for now. I will try again with an agent that is more informed or has more programs to offer. I studied this carefully when I turned 65, but switching plans and differing rates between different regions makes it all so maddening, especially since I do plan on retiring in another state. Thanks for responding!

@user-et4dy8bc7e 7 ай бұрын

You mentioned in your video that a newly Issued Supplement plan rate for a 65 year old may be very different between a Newly Issued Policy vs. a policy renewal. Can you explain why this is specifically when it comes to Plans that are " Issue Age Rated " as Age is only a factor at the time the policy is issued. My Wife is currently this her policy was issued 20125 when she was 55 years old and her 2024 rate is 443.93 while the same policy ( High deductible F Plan ) for a 64 year old female non-smoker in 2024 is $323.04. They are both same age in 2024 however her policy is $120. more than the newly issued policy.

@johnurban7333 8 ай бұрын

Just found your channel. Love your videos. We don’t have plan G in Minnesota so thinking on going with BCBS Extended Basic Supplement plan. Also was wondering your thoughts on high deductible plans.

@AbtInsuranceAgency 8 ай бұрын

High deductible options are a great fit for many, but you have to understand the implications of potentially not be able to change plans down the road.

@johnurban7333 8 ай бұрын

@@AbtInsuranceAgency Thanks for your reply. I thought that might be the case but wasn’t sure. I subscribed and will watch more of your videos. Keep up the great work

@glenngilbert4842 8 ай бұрын

I would like to hear more details on underwriting and pre existing conditions when switching from one Medigap supplemental company to another Medigap supplemental company

@AbtInsuranceAgency 8 ай бұрын

I’m working on a more current video, but all of the information shared in this one is still accurate on that topic - kzfaq.info/get/bejne/jqqIl7N-st7Qf6M.htmlsi=xbYbbt6DIspFE1qr

@michael46438 8 ай бұрын

I have a supplemental plan N. The premium went up an additional $154.00 starting in 2024. I need to make sure that I'm covered from all directions. If I went to an advantage plan, would I still be covered like with the N plan AND would I be able to change back to a N plan without under righting? OR could I change from a plan N to another plan N? with a cheaper premium cost. I will ask this same question tomorrow with your phone consult. Just wanted to ask in case others are thinking the same. So, need your guidance! Thank you for all you do.

@AbtInsuranceAgency 8 ай бұрын

This is definitely a multi-faceted question! Plan N is different than a Medicare Advantage Plan, there will be pros and cons to each. If you have never had a Medicare Advantage Plan before, then you should be eligible for a "trial right" to get your Plan N back within the first 12 months of enrolling in the Medicare Advantage Plan for the first time. You could also be eligible to enroll in a different Plan N at a lower cost - we can help you review all of your best options!

@brooklynrocks2396 8 ай бұрын

Correct me if I'm wrong. From what I'm understanding is if after you have chosen a Medicare Supplement Plan (MSP) and been on it for some time, if down the road you can no longer afford it and IF you want to change to a different MSP, you will have to go through an underwriting. If you are denied, you will have no choice but to stay with the MSP you're already on OR have to go into a Medicare Advantage plan?

@clintonwoodward 8 ай бұрын

Correct.

@AbtInsuranceAgency 8 ай бұрын

Yes, that’s correct.

@judyakajude3370 8 ай бұрын

I'm unable to afford the premium for Plan G. I'm hoping I can get a lower premium with Plan N. I'm very concerned about my coverage 😮

@steves3688 8 ай бұрын

Ok... Now I'm confused... I have my Medicare supplement with your firm... Plan N.... As I understood it for Washington State residents I can change my plan except for plan A... without medical underwriting. Correct? But what I'm taking from this video is if I change providers I have to have a medical evaluation?? So basically I'm stuck with my current provider?

@mpudwu 8 ай бұрын

@@judyakajude3370get an advantage plan! No underwriting necessary.

@lindaclairesartori 7 ай бұрын

Do I have to have "drug coverage"? Why is there a penalty if I don't.? I do not take pharmaceuticals.

@kimberlystephens4317 7 ай бұрын

I love your videos! Very clear and concise. I live in Kentucky and I'm the caregiver for my 83year old mother. I'm looking for a Medicare supplement plan for her. She does not have an existing supplement plan, so I'm assuming she will have to go thru medical underwriting. Any suggestions on what plan would benefit her? Thanks.

@AbtInsuranceAgency 7 ай бұрын

It depends on her health! Does she have any health conditions?

@kimberlystephens4317 7 ай бұрын

@@AbtInsuranceAgency She has the beginning stages of dementia.

@darkshogun5887 8 ай бұрын

I have Medicare because of ESRD and I'm in my 40's. If I get the Medigap now and within 5-6 years loss Medicare because of a kidney transplant, when I turn 65 and become eligible due to age can I get the Medigap again without underwriting?

@avflyguy 8 ай бұрын

As always, very understandable discussions about changes. Have been quite pleased with Supplemental Plan. Have friends that went with Advantage Plans, with most reporting they are a pain to deal with. Then, even some of them just pull out of that market with little warning or some physicians (and related tests, or denials) will drop that one or off their lists. Question?? - do you know yet what changes [brackets] IRMAA will be for 2024? Have they upped the incomes?

@AbtInsuranceAgency 8 ай бұрын

Yes -- see here:www.cms.gov/newsroom/fact-sheets/2024-medicare-parts-b-premiums-and-deductibles

@avflyguy 8 ай бұрын

Thats helpful. Thank you !

@angelalewis3058 8 ай бұрын

I jus turned 65 an I have never been as confused abt all this as I am. If u want a never ending headache enrolling in this stuff is it. Ther r too many insurers, too many plans an u never kno how it will pan out until u knee deep in it. Ther has got to b a better way.

@AbtInsuranceAgency 8 ай бұрын

There is a better way - let us help. 888-465-9728

@wuchi51 8 ай бұрын

@@AbtInsuranceAgency10:53 how much does your service charge?

@wuchi51 8 ай бұрын

@@AbtInsuranceAgency10:53 how much does your service charge?

@AbtInsuranceAgency 8 ай бұрын

@@wuchi51 we are 100% free of charge

@johnflemming7617 8 ай бұрын

I have a Med Advantage PPO in Pennsylvania. I like it but I might be spending a lot of time with family in California. Should I be considering switching to a Medicare Supplement plan instead? Age 76. Fairly good health.

@AbtInsuranceAgency 8 ай бұрын

Depending on the type of PPO plan you have, you very well might want to consider this. We’d be happy to help. 888-465-9728.

@rf159a 8 ай бұрын

I really enjoy your channel. From what I have learned from my Union Insurance I still keep my insurance with them. They told me that Medicare will be my primary insurance with my Union insurance picking up anything Medicare does not cover. I still need to pay my insurance $200 a month to them. Does that seem about correct for insurance that is needed to offset Medicare? My Union Insurance covers Dental, Eye Care, Prescriptions and Doctor visits. Thank you.

@AbtInsuranceAgency 8 ай бұрын

Yes, with most retiree plans you do not need any other type of additional Medicare Supplement insurance.

@rf159a 8 ай бұрын

Thank you very much. And thank you for your channel!!@@AbtInsuranceAgency

@JeanPierreWhite 8 ай бұрын

Thanks for this video Stephanie. Quick question. With a Plan N supplement there is a $20 office visit co-pay and a ER co-pay of $50. Can this co-pay go up in the future or is that grandfathered in for the life of the supplement I maintain?

@AbtInsuranceAgency 8 ай бұрын

That is a feature of Plan N is grandfathered in, and is based on specific office visit codes established by Medicare.

@JeanPierreWhite 8 ай бұрын

@@AbtInsuranceAgency ty. That is very reassuring. As rates go up the difference between g and n plans will widen in real dollars making plan n a better deal as time passes.

@judyakajude3370 7 ай бұрын

I live in California. I want to change from plan G to N due to the high premiums I'm charged. Can you assist me or should I call Medicare directly and let them find an insurance carrier for me? Thanks.

@AbtInsuranceAgency 7 ай бұрын

You should call us! 888-465-9728 🙂

@billbeeb1803 8 ай бұрын

Love your videos. I heard that if you have a Medigap plan that every year on your birthday you have a 60 day window where you can change you Medigap insurer if your not happy with the company without underwriting as long as you go equal or lesser. Is this true?

@AbtInsuranceAgency 8 ай бұрын

I have a video coming out soon about this topic. It’s true, only in certain states.

@wendydunn9245 7 ай бұрын

Question what is the difference between advantage HMO and supplements plans

@AbtInsuranceAgency 7 ай бұрын

This explains! Medicare Advantage vs Medicare Supplement Cost Comparison (2024) kzfaq.info/get/bejne/jdqSarJkm63HpWw.html

@billhilton7447 5 ай бұрын

I am turning 65 in 2024 and believe I want a Plan G high deductible medigap plan. I currently live in Illinois but will be moving to North Carolina in 2025. Will I have to switch insurance companies when I move? Will I have to go through underwriting at that point?

@AbtInsuranceAgency 5 ай бұрын

Nope, your plan travels with you where you move. No plan change or underwriting required.

@dheller777 8 ай бұрын

Had plan F. Wish I had kept it now instead of going with plan G even though it was more costly it's coverage was better. Can't go back, they won't let you.

@ggjr61 8 ай бұрын

I thought the only difference was you had to pay the Medicare part B deductible. Is there something else?

@dheller777 8 ай бұрын

@ggjr61 with supplemental F plan we did not pay for a thing. No deductible either.

@marylockwood4400 8 ай бұрын

But the premium is so much more. I have plan G+ and so far I've only paid less than $200 out of pocket.

@jeffreyallen3777 7 ай бұрын

If you look at her coverage chart you can see the only difference in coverage plan g vs, plan f is the medicare part b deductible so if your premium savings with plan g exceeds the yearly medicare part b deductible it might be a smart move. In my case I saved over $400 a year in premiums so it made sense for me. I have never presented a single doctor, hospital, or ambulance bill that was not 100% covered by my plan g, after having paid the medicare b deductible for that year($226 this year). I would be interested in why companies seem to be pricing these policies to encourage people to switch to plan g and cover the medicare b deductible themselves. I'm very curious.

@jewelst8894 8 ай бұрын

Would a G high deductible plan be considered lesser then a N plan?

@AbtInsuranceAgency 8 ай бұрын

Yes

@0yster40 4 ай бұрын

Are you licensed in PA?

@AbtInsuranceAgency 4 ай бұрын

Yes!

@nerkymusselman8843 8 ай бұрын

i understand from many youtubers that supp plans renew for life if paid, but i’ve never heard what happens if the supp company you’re with simply goes out of business. it’s scary since i have way too many health issues to ever switch plans. and wth do i do if a massive rate increase comes through?

@JeanPierreWhite 8 ай бұрын

If that were to happen it is most likely that you will be able to get a guarantee Issue to a plan G. Often what happens the book of business is picked up by another insurer rather than just let the book of business go away in which case you'd keep coverage but would have no control over who the insurer is. As Stephanie says it's important to look at the companies financial stability and choose an A rated company that way the likelihood of that happening is minimized. Another rule of thumb is to be sure the company has been in the medicare supplement market for 5 or more years. New companies are more likely to fail or just decide supplement insurance isn't for them after all and leave the market.

@AbtInsuranceAgency 8 ай бұрын

If your carrier goes out of business you are then given a guaranteed issue right to purchase a new Medigap plan without medical underwriting.

@heavenlysunshine1891 7 ай бұрын

why aren't the deductibles charged all up front --in other words why isn't the 240.00 for 2024 paid at the first of the year.

@ohiopat 7 ай бұрын

You only have to pay the deductible if you see a Dr. If you don't need to see a DR you don't have to pay it.

@ReuvenFreuman 8 ай бұрын

Are you licensed in New York?

@AbtInsuranceAgency 8 ай бұрын

Yes!

@ReuvenFreuman 8 ай бұрын

@@AbtInsuranceAgency If I am eligible for HD G and HD F, and the price difference is $11 a month (same company), which in your opinion is a better deal?

@forrestgoodlette2779 6 ай бұрын

Who do I call to pay my supplemental deductible for plan G.

@AbtInsuranceAgency 6 ай бұрын

You will pay your doctor for services until you have met the deductible.

@CorettaBrewerWilliams-rb7kf 8 ай бұрын

I am 62 with cancer, I have been getting SSDI for the past 2 years, because I can’t work anymore. I can Medicare now. Could I get a supplement plan?

@AbtInsuranceAgency 8 ай бұрын

It depends, where do you live?

@leilalloyd811 2 ай бұрын

Why you don’t talk about Medicaid?

@AbtInsuranceAgency 2 ай бұрын

I plan to in a future video!

@thomaschadwick4699 8 ай бұрын

You stated "medicare supplement plans never change". If this is correct why with Plan N when I would go to Urgent Care in the past here was no charge, now they can charge the same as a regular office visit up to $20.00. That is a change.

@AbtInsuranceAgency 8 ай бұрын

That is an excellent point - the benefits haven't changed, but the way that doctors are coding Urgent Care visits, that has changed. On this form below, it points out that Urgent Care generally has no copays on Plan N, but then it also outlines all of the "office visit" codes that *will* trigger a copay on Plan N. After COVID, we have seen many doctors coding Urgent Care visits differently, as well as telehealth visits. This is the reason we are seeing Plan N copays for these visits when before you did not. It really all comes down to how the service is coded, when it comes to Plan N. www.cms.gov/Medicare/Health-Plans/Medigap/downloads/Plan_N_Guidance2.pdf

@thomaschadwick4699 8 ай бұрын

@@AbtInsuranceAgency As per CMS: ...Is the Plan N ER or office visit coinsurance or copayment applicable to Urgent Care facilities? No. Since a visit to an Urgent Care facility is not coded as either an office visit or an ER visit and has a unique code, the Plan N copayment or coinsurance for either the office visit or ER visit does not apply to visits to an Urgent Care facility.) It does NOT say "Urgent Care generally has no copays on Plan N, " It says NO. Therefore Dr are coding against CMS Rules

@micheleyoungblood 8 ай бұрын

@@AbtInsuranceAgencywhy is medicare allowing this to happen

@dennislaplant95 8 ай бұрын

Back in April 2010, Medicare published a Plan N guidance document which said that TELEHEALTH or URGENT CARE services would not be subject to the Plan N coinsurance or copayment because those providers/facilities do not code these services as office or ER visits. However, during the 2020 pandemic, doctors started to code these types of services with office visit billing codes and therefore could charge the $20 copay. While that was intended to be a short-term emergency exception, Medicare now says that it is likely a permanent change. Bottom line... Plan N didn't change. The way providers code these services changed. So if you don't think you should be charged a copay for your Urgent Care visit, you could ask the provider to change their coding.

@AbtInsuranceAgency 8 ай бұрын

@@thomaschadwick4699 you’re right - it says that Since Urgent care visits are not coded as office visits or ER visits, then there is NO copay. But what is changing is not the benefits of Plan N, rather how these Urgent Care visits are now being coded. I hope this clarifies.

@bobbyscoggins4862 7 ай бұрын

My name is bobby scoggins i will call you monday talk about you helping on my plane G so when i call answer your phone

@AbtInsuranceAgency 7 ай бұрын

Hi Bobby! We always do our best to answer every call, but during this very busy time of year your call may go to voicemail. If so you can leave us a message and we will get right back to you! Additionally you can text 737-222-7063 or email stephanie@abtinsuranceagency.com for a fast reply!