It feels strange to type 2015 – I am still getting used to it. But it is, indeed, 2015, and as we move into this new year, I wanted to touch base with some updates on what is going on with Secure Medicare Solutions.
REQUEST FOR REFERRALS
We feel so fortunate to have great clients – I want to personally thank you for trusting me with your Medicare Supplement decision, whether it was 8 years ago or 8 days ago. My goal is always to provide prompt and professional answers and help, and we hope that you have found that expectation to be met. I am always here, only an email or phone call away, if you have questions.
With that in mind, and with the hope that you are satisfied with the service I provide, I’d like to ask if you know anyone who could use my help. This would apply to someone – friend, coworker, relative, spouse – turning 65. Or, it could apply to someone who is already on Medicare with an overpriced supplement plan.
Did you know that over 90% of people who have a Medigap plan have a plan that is not in the top three competitively priced plans for their area? In other words, most people are over-paying for their coverage, which of course, due to the standardization of coverage and claim payments, makes no sense whatsoever. That’s where I come in, and I love helping people save money. So, let me know how I can help.
MEDIGAP MARKETPLACE SNAPSHOT
In the last few months, the Medicare Supplement market has been relatively stable. One thing we have seen, on the whole, is a leveling off of rate increases back to pre-PPACA levels. In the year leading up to and year or two following the passage of PPACA, we noticed a very observable uptick in the size of Medigap rate increases. Of course, all Medigap rates go up over time, just like any type of insurance, but I believe that this rate instability was caused by uncertainty of the insurance companies on what was going to happen and then how it was going to affect their ability to be in business.
However, in the last year, I have seen a noticeable leveling off of rate increases. Rates still go up, of course, and there are outliers, but on average, rate increases have been smaller and less frequent. If you are in good health and have not compared rates in the last couple of years, it may be a good idea to do so by contacting me here.
In addition to rates showing some signs of leveling off, I have also seen stability out of the overall marketplace, in regards to the companies offering Medigap plans. For a couple of years, several smaller companies were entering/exiting the market. In the last year, there has been much less of that. Of course, if your company ever stops offering Medigap plans to new customers, you can still keep your plan as Medigap plans are “guaranteed renewable” indefinitely.
Lastly, several companies actually decreased rates in the last year in some states, including North Carolina, which threw up red flags with some of my clients who thought there was an error somewhere! This happened in limited states and situations, but I’m sure that was a nice letter to 0pen.
NEW ADDITION
I’m excited that my family and I will welcome a new baby in July. My daughters (5 and 3) are excited to be big sisters, and my wife and I feel blessed to have another child. Now, if it is a third daughter which would be wonderful (we find out in February), I imagine I’ll be off to the local animal rescue to pick out a male dog to add some testosterone to my house! 🙂
Thank you for reading and thank you again for trusting me with your Medicare insurance. Feel free to contact me any time you have questions.
