Are You Feeling Blue About Your Recent NC Medicare Supplement Rate Increase?

Every year insurance carriers that offer NC medicare supplements have rate increases.  These increase may be as little as $5 to over $30 more per month.  I don't have to tell you that when you are on a fixed income every little bit that you can save is worth looking into.

Most seniors that have a supplemental policy don't really understand that they may have other options.  With a Medigap policy you can change your carrier anytime that you want!  Did you recently get a rate increase?  Maybe it's time to look at other carriers?  The only catch is that you will have to answer health questions so some may be able to change and some will not be able to change.

What do we recommnend?

If you could find a plan that saves you $500 per year and gives you the same or similar benefits; don't you think it would be a good idea to look into it?  Chances are if you are reading this blog post you are most likely on Plan F.  Most agents and call centers push Plan F because it covers 100% of what Medicare doesn't (of Medicare approved claims).  We don't advocate Plan F because we feel that Plan G is the better value for our clients.  Plan G covers everything Plan F covers with the exception of your Part B annual deductible, which for 2015 is $147.  Your premium savings alone will more than cover this $147 deductible making the choice pretty easy.  

Let's look at some monthly rates for the Mecklenburg County area for both Male and Female Non Tobacco user:

Carrier Age Plan F
Plan G
Plan F
Plan G
Carrier A 66 $167.25 $157.25 $167.25 $157.25
Carrier B 66 $133.20 $123.62 $115.70 $107.46
Carrier C* 66 $152.44 $107.40 $134.92 $95.05
Carrier A 70 $200.05 $191.50 $200.05 $191.50
Carrier B 70 $150.02 $139.61 $130.45 $121.37
Carrier C* 70 $167.38 $117.92 $148.14 $104.36
Carrier A 75 $237.75 $226.50 $237.75 $226.50
Carrier B 75 $170.77 $159.60 $148.52 $138.78
Carrier C* 75 $197.25 $138.96 $174.75 $122.99
* Carrier C offers a 12% discount off the above rates if someone lives with you for more than 1 year and is over the age of 60.

Why we like Plan G for our clients
  Plan F  Plan G
Annual Premiums $167.25 x 12 months = $2,007 $95.05 x 12 months = $1,140.60
Annual Part B Deductible covered by Plan F automatically

You pay the $147 Annual Part B Deductible out of your pocket

Total $2,007 $1,287.60
    Savings of $719.40/year

As you can see Carrier C can save you a substantial amount of annual premiums than some of the other available carriers with their Plan G.  Remember the only difference in F and G is the annual deductible of $147 (for 2015).  Once you pay the $147, your Plan G will work exactly like Plan F.  Moreover, since we are close to the middle of the year; you may have already met the $147 deductible under your Plan F (if you have, you will not have to meet it again until 2016).

Bottom line is if you are on Plan F you ARE PAYING TOO MUCH. Remember Plan F is the same as Plan G + $147.  Exactly the same coverage.  So why pay $700+ more per year for the exact same coverage?

To find out if you qualify click the button below for us to contact you via phone.  It will only take a couple of minutes and we offer ZERO pressure....we can either save you money or we can't!  If we can help, great!  If we cannot help, we can simply part as friends!


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