Archives for June 2015

Medigap Rates Online – Can You Get Them and How?

June 18, 2015 by · Leave a Comment

A common question is whether you can get Medigap rates online. Many people are surprised to learn that it is not as easy as you think it should be. In general, you can get some Medigap rates online; however, you don’t always get complete or accurate information. This article explains why and gives you options for obtaining a Medigap comparison.

First of all, as a preface, while you may not get complete or accurate Medigap rates online, you certainly can easily get a complete, unbiased Medigap comparison by email. As far as getting a listing on a website of all plans available to you, with rates customized to your age, gender, zip code, situation, etc., it’s not that easy.

There are three main factors that make it difficult to get Medigap rates online. First, some companies do not allow their rates to be published online by agents. This greatly inhibits your ability to get an accurate picture of the plans available in your area. Second, some Medigap companies only deal with “captive” agents that only represent/sell plans for that one company. “Captive” agents wouldn’t be able to give you rates for other companies besides their company, while independent brokers wouldn’t have rates for “captive”-agent companies. Lastly, companies have different rates for each zip code and age and are changing rates all the time, making Medigap rates online possibly unreliable/out of date.

So, with the unavailability and unreliability of Medigap rates online, what are the other options? The good news for the Medigap consumer is that you don’t have to have a pushy agent come to your house or spend hours on the phone with companies or insurance agents. The easiest way to get Medigap rates online is via email. You can easily get rates delivered directly to your inbox that are both customized to your age, gender, zip code, situation, as well as accurate, reliable and prompt.

Secure Medicare Solutions can provide that service – Medigap rates by email. The important thing here is to make sure you are requesting the information from an independent broker/agent. This way, you can compare all options in a centralized place. There are likely other companies that will provide similar information as well, but most or all require a phone number and address as well in order to contact you with phone calls, mail, etc. Particularly if you are someone turning 65 or ‘shopping’ for a Medigap plan, the last thing you want to do is give someone ELSE permission to call you endlessly. Getting Medigap rates by email solves that problem – gather the information, read at your leisure, compare plans and make a sound, unbiased decision.

If you have questions about this process or want to speak with someone directly, you can contact us using the form here or by phone at 877.506.3378.

Filed Under: Medigap Plans, Rate Changes, Uncategorized · Tagged: , , , , , , ,

The Future of Medigap Plan F

June 10, 2015 by · Leave a Comment

The future of Medigap Plan F was recently called into question with the recent passage of the “doc fix” bill, H.R. 2 – the Medicare and CHIP Reauthorization Act. The headline-stealer of this legislation was the stabilization of physician payments through the repeal of the sustainable growth rate model for Medicare payments to physicians. However, one of the lesser-known provisions could impact future Medicare beneficiaries who purchase Medigap insurance.

Specifically, the bill sets forth surcharges for Medicare beneficiaries that choose to purchase either Medigap Plan F or Medigap Plan C, the two Medigap plans that cover the Medicare Part B (doctor/outpatient) deductible. This deductible currently stands at $147/year, but it is projected to increase to $185/year in 2020 and $217/year in 2023. The idea is that these surcharges offset the higher “use rate” on Medicare from people that have Medigap Plan F. Although this has not necessarily been proven to be the case, the idea is that Medigap Plan F policyholders have no “skin in the game” since it doesn’t cost them anything to see a doctor.

Now, it is important to note that the bill specifies “future” beneficiaries (starting in 2020) as the ones who would be subject to the surcharges on Plan F and C premiums. So, at least on the surface, current Plan F or C policyholders would not be affected. However, a deeper look may foretell some consequences on existing policyholders.

To explain, the surcharges will likely greatly reduce the number of new policyholders into those two plans. Once it is understood that the choice to enroll in Plan F or Plan C equals surcharges on top of premium charges, many beneficiaries will pick a different plan. Hypothetically, this would cause upward pressure on Medigap Plan F and C rates, as there would be fewer new policyholders on those plans. So, long term, the outlook for price stability on those plans is not as great as it would be on other plans.

To editorialize a little here, the “overuse” of Medicare by people on Plan F has not been proven. And, although it does make sense in a vacuum, people that have Plan G, for example, have very little “skin in the game” either ($147/year). So, there is not that big of a difference. Also, since the Federal Government has very limited oversight over the Medigap plans – they are to supplement the Federal program, Medicare – it is hard to see how they should be involved in deciding how people choose to cover their “gaps” in Medicare.

All said though, the bill has become law and unless something changes between now and 2020, there will likely be a lot fewer people choosing Medigap Plans F and C at that point. We’ll stay on top of this and other developments, moving forward, and keep you apprised on how they may affect current Medicare beneficiaries.

Filed Under: Medigap Plans, Rate Changes · Tagged: , , , , , ,