AARP UHC Plan G 2024 Rate Increase

[MichaelH904998]

12.7 % in Arizona averaged husband and wife.  Wasn't expecting such a high increase.  

We do not have the Plus plan or whatever that is discounted in the early years.  That plan basically phases out the discount for add ons that we chose not to take.  So this is just straight G coverage only.  

For those that have been in the plan longer, (this is our first rate increase), what were you seeing over the years.  Anyone know where there this is a historical table?  

[MichaelH904998]

Not all states actually approve rate increases - ADOI is the Arizona Department of Insurance 

Reference Document

Does the Arizona Department of Insurance (ADOI) approve an increase in my premium?

No. Arizona law does not permit ADOI to approve or disapprove rate increases. However, insurers must
file rate changes with ADOI before using those rates to calculate premium. ADOI is required to review
all individual and small group major medical health insurance rates to ensure that the rates are
“reasonable,” based on the legal standards that apply. (Legal Standards available at
http://www.ecfr.gov/cgi-bin/text-idx?SID=09179ad6214b7033a7036b3758543ddc&mc=true&tpl=/ecfrbrowse/Title45/45cfr154_main_02.
tpl )
Arizona has been designated an “Effective Rate Review” state in accordance with federal standards
(learn more about Effective Rate Review at https://www.cms.gov/CCIIO/Resources/Fact-Sheets-and-FAQs/rate_review_fact_sheet.html ).

Some of the URLS are clipped by this board so copy and paste.  

[GailL1]

Sorry, can't get the CMS link to work even with copy / paste 

But yes, each state decides their own procedure - even in AZ they have to submit actual rate increases for review.  Review does mean for reasonableness - 

But they don't have to submit increases that happen just for the declining discount since those are already planned with the client and the insurer.  

Beneficiaries should be aware of any extras - which could go up in cost also.  Or any extras could be discontinued if not in the body of the policy as a benefit and not an extra.

It just seems that they are making this type of insurance purchase [MediGAP] more complicated - but it is Medicare.

[Victorialk7474]

  I have had the F plan since 2017. They just raised my monthly rate to 279.46. It has been wonderful, I have not paid out a dime in all these years.

[GailL1]

@Victorialk7474 

Your Medigap Plan F Supplemental will continue to go up in price because this plan is no longer offered for sale to beneficiaries past an eligibility date of 01/01/2020.  Therefore, the people that still have it are getting older and older and perhaps sicker - and there isn’t any “new blood” coming in to offset their cost.

There is a High Deductible Plan F that is still available and the premiums for that plan is very low comparatively but there is a deductible that has to be met each year.

Plan G is exactly like Plan F EXCEPT that it does not cover the Part B deductible ( 2024 Part B deductible = $ 240) so for LESS than (1) month of your current premiums, you could have an exact plan except for this $ 240 annual Part B deductible.  You might also save on monthly premiums depending on your health, where you are located and which insurer you go with.

Yes, Plan F is the Cadillac - no money out of pocket as long as Medicare covers the medical expense - then your Plan F covers the remainder.    It just comes with a heavy price tag - but if you are good with it - the few others that still have it hope you will stick with it especially if you are reasonably healthy.

[MichaelH904998]

If you click on Reference document you get the links that should work.  It’s the actual source document.