Senior Sabatage

@JohnB704698 

LOL - how much do you think is a reasonable price? Why would you think this isn’t a reasonable price ?  Inflation strikes everywhere.    

You are right - some people will have to make other plans if they cannot afford what is available - be that a Medigap plan or Assisted Living or Home Care.

Yes some people will someday find that they cannot afford their current Medigap plan premiums.  There are less expensive ones where you take on more of the risk - HD-G comes to mind - premiums in most states are LESS than $ 100 a month.  OR there is always a Medicare Advantage plan of your choice - that is why they are available - for those who cannot afford or do not want a Medigap plan.

Maybe you should think about changing your Medigap before something happens and you cannot pass underwriting if you live in a state that has not expanded their guaranteed issue rights (which, BTW, makes the premiums even higher).

Did you know that Medigap insurers have to fund a reserve as stated by their state just in case premiums take a nose-dive and claims go thru the roof.  Medigap plans are actually not even health insurance - they are financial protection insurance used with Original Medicare since there is no limit to your out of pocket on OG Medicare.  A Medigap plan will protect you from a catastrophic medical event - but if you, as the beneficiary,  accept some of the risk (more than just the Part B deductible)  then that is reflected in your premiums.  

As far as Assisted Living - how much do you think would be a fair price considering ALL that they do and what is within the cost one pays - shouldn’t the employees there be paid a reasonable wage,  have employee benefits (like employer subsidized health insurance) or perhaps the employer giving a 401K match to the employees - much of their cost is the same as what you probably pay or once paid.

So, yes, the prices may increase to a point to where many beneficiaries will have to make other choices.  But thank goodness, there are still choices available.  

EDITED TO ADD:  Assisted Living is not a medical cost - they charge for activities of daily living and help with those thing - so not covered by Medicare at all.  Activities of daily living are things like bathing, feeding, meal prep, laundry, housekeeping.  

And nobody is required to have a Medigap plan - that’s a choice as well as which one.  

We do cover everything for those who have the need and NO income or resources to pay for them - well in some states, they may have assets for other states there is a limit of assets.  That program is called MEDICAID Long Term Care.

Did you know that many companies haves shut down their Long term care insurance sales.  For those that have continued to pay their escalating premiums their needs are still being covered up to the limits of the plan they purchase.  But many seniors just had to drop them after years of modifying their plans to get cheaper premiums and when that failed to last, they dropped their plans -

Now I think many of he LTC plans are purchased with an annuity backing it up to cushion the increases somewhat - 

We do have the majority of our lifetime to prepare as best we can.   That is life.

On a lighter fun note, I’ve never been able to see or hear the word “sabotage”without thinking about Shatner’s mispronunciation on StarTrek!  Brought me back to that.

Your feelings are not unfounded. I feel like society is weakening in general and that we are tending toward baser behaviors. Although I have believed for a long time that we are here to help each other, I also feel like I could do more for others and more us cooperating with each other could ease many burdens. I hope I am giving something to you, if only recognition. Your recognition that we can do better helped me.