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Re: How do I find premium price comparison for Medigap 2020 plans?

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@JaneEO even if you could find 2020 rates it won't matter. Carriers in most states are allowed to change new business rates at will. Same for renewal rates.

 

Some states require DOI approval before they can implement new rates, others don't.

 

I have never known  carriers to illustrate rates more than 90 days in advance. Past rate increase percentages are not a predictor of future rates.

 

Also, you reference plan A. Is there a particular reason why you have an interest in that plan? I have never seen it offer good value relative to the other plans such as G, N and the HD plans.

 

Seems like you are overthinking the process.


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Re: How do I find premium price comparison for Medigap 2020 plans?

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@JaneEO wrote:

I understand that basics.  It's now open enrollment period so I'm picking my plan for 2020 and I want to compare the costs of each plan (A,B,C, etc) between the various insurance carriers.   The link gives me the info I'm looking for except it states prices are effective 10/1/2019

That is the last published rates by the NY Dept of Finance - I don't know if they will have another update or when - you will have to call them.  Medicare Interactive (link below) says that it is updated monthly.

 

For example, plan A in my state is carried by 9 different carries and the montly premium ranges from $139.00 to $279.57 for 2019. 

Yes, Medigap insurers can charge different premiums for the same plan.

 Medicare.gov - Medigap Costs 

from the link ~

Compare the costs of Medigap plans 

Insurance companies may charge different premiums for the same exact policy. As you shop for a policy, be sure you're comparing the same policy. For example, compare Plan A from one company with Plan A from another company.

 

Medicare.gov - How to Compare Medigap Policies 

from the link ~

Every Medigap policy must follow federal and state laws . . . .

All policies offer the same basic Benefits but some offer additional benefits, so you can choose which one meets your needs.

 

(In NYS the premium that each insurance carrier  charges is the same for all individuals no matter what the age or health is.)

That means they are all "Community Rated" - but I don't know if they (the insurers) have different dates when they come out with their new Community Rates.  A question for your state or a local Independent Medicare insurance agent.

 

I've looked high and low trying to find 2020 premium prices but can't find them anywhere.  Is there a reason why?  Is it too early for them to be publicized? (I wouldn't think so.)  Or do they not change?  Isn't this what I should be looking for when choosing a plan and insurer? 

Reason being that the insurers might not all be on the same time table.  The state seems to have a pretty up-to-date list.  Once you enroll in a plan, the plan itself with notify you of any increase - if you want to shop around again, as it seems you can in NY, then you will be doing this same thing all over again.  All of the (Medigap individual) insurers are using Communty Rating and the Medicare Interactive link(below) says that it is updated monthly.

 

Since I initially enrolled mid year 2019 I've never been through open enrollment so I don't know if the next year's price isn't available until later or if it's available somewhere.

Initial enrollment in a Medigap plan is COMPLETELY different than "annual open enrollment".  The ANNUAL Open Enrollment is for changing a Medicare Advantage plan or a free-standing Medicare Prescription Drug plan.  These are WHOLE Medicare plans NOT GAP Insurance.

 

Medicare.gov - Joining a health or drug plan 

from the link ~

During certain times each year (yearly enrollment periods for Part C & Part D)

Each year, you can make changes to your Medicare Advantage or Medicare prescription drug coverage for the following year.. . . .

 

There is NO annual open enrollment for Medigap plans.  If fact, depending upon your state rules, it could be difficult to change at all without incurring more cost; in some states, you may even be refused new coverage or be charged a higher premium.  It looks like NY has continuous enrollment but that does not mean that they cannot make you wait on some coverage for a pre-existing conditions if you buy one outside of this (initial open enrollment) period.

Medicare Interactive - Medigaps in New York State 

 

The reason I am mentioning the "Medigap initial open enrollment period" is because that is the period where you are now and it is very important for you to pick a plan and be enrolled before going over this initial enrollment period (6-months from the date you turned 65 and signed up for Part B).  If you don't, the insurer could delay coverage on some pre-existing condition that you may have.

Medicare.gov - When Can I buy a Medigap? 

YOU NEED TO SIGN UP FOR YOUR PICK OF A MEDIGAP PLAN NOW (asap) !  Since your 65th birthday was in June - you have 6-months from that date.  You should have already signed up for Part B of Medicare.

 

From your New York State Dept of Finance (previous post link). NOTE THE COLUMN "PRE-EX WAIT MONTHS"             

Screenshot_2019-10-24 Medicare Supplement Plans and Rates.png

 

I know I can contact various insurance agencies and get the info there but it really would be much easier if this were all on one sheet such as it is for 2019.

 

I am sure that your state is doing the best they can in keeping their data as up to date as possible.  The current rates appear to be there - an agent may be able to get more up-to-date rates where the state list has to be updated once they are received at the state.

 

 Good Luck - remember to also pick your Part D or Medicare Prescription Drug Plan if you haven't already.

 

 

 


 

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Re: How do I find premium price comparison for Medigap 2020 plans?

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Message 3 of 8

I understand that basics.  It's now open enrollment period so I'm picking my plan for 2020 and I want to compare the costs of each plan (A,B,C, etc) between the various insurance carriers.   The link gives me the info I'm looking for except it states prices are effective 10/1/2019.  For example, plan A in my state is carried by 9 different carries and the montly premium ranges from $139.00 to $279.57 for 2019. (In NYS the premium that each insurance carrier  charges is the same for all individuals no matter what the age or health is.) I've looked high and low trying to find 2020 premium prices but can't find them anywhere.  Is there a reason why?  Is it too early for them to be publicized? (I wouldn't think so.)  Or do they not change?  Isn't this what I should be looking for when choosing a plan and insurer?  Since I initially enrolled mid year 2019 I've never been through open enrollment so I don't know if the next year's price isn't available until later or if it's available somewhere.  I know I can contact various insurance agencies and get the info there but it really would be much easier if this were all on one sheet such as it is for 2019.

 

 

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Re: How do I find premium price comparison for Medigap 2020 plans?

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@JaneEO 

 

You can alway find a LOCAL INDEPENDENT MEDICARE INSURANCE AGENT - they write for many companies - to do your comparison just for you.

Brand specific ones only write for their own company.

 

But it is still good to understand the program, I.e. the  Medicare publication.

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Re: How do I find premium price comparison for Medigap 2020 plans?

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@JaneEO 

 

I would be a good idea if you read this Medicare.gov publication.  It is the 2019 version but not much changes in the actual program; with one exception -

You will NOT be able to buy Plan F (the regular one; Not the high deductible one) after this year - so if you want Plan F, you need to make it effective no later than December 2019 and pay that premium.

 

Medicare.gov - 2019 Medigap Guide  

 

Your I initial enrollment period ends 6-months from the date you tuned 65 and thus you need to sign up by that date to avoid any consequences.

 

The rates shown (as of 10/19/2019) on the NY site are the most recent on file for each insurer, in some cases by insurer and zip code.  But like I said, if the insurer bases their rating on attained age, then those might be higher on the person's next birthday in 2020.  I would imagine that those stated rates are fine for those that are rated by a Community Rating method and the Issue-Age method.

 

I think reading that Medicare.gov publication on Medigap coverage will help you 

understand this "Gap Insurance" coverage better.  Also remember that any additional benefit an insurer might offer - vision, dental, gym benefits, etc - needs to be included in the actual policy or they are only supplemental to the actual policy and thus can be modified or even dropped later - the only sure benefits are the ones that Medicare stipulates under each of the plans.

 

Some insurers might also give a discount for the 1st years of enrollment - just be aware of any discount because sooner or later it goes away.

 

 

 

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Re: How do I find premium price comparison for Medigap 2020 plans?

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Message 6 of 8

Thank you, Gail.  Yes, New York State is correct.  But the link says premiums are effective 10/1/2019.  I'm looking to see premiums are for 2020.  I assume they wouldn't necessarily be the same for next year, am I correct?  I want to pick my plan for 2020 but need to know what the cost will be.  I just started on Medicare in June of this year so a lot of this is still new to me.

Thanks!

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Re: How do I find premium price comparison for Medigap 2020 plans?

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@JaneEO 

 

I hope you meant New York State - This is from the Dept. of Financial Services - Consumer Division.

 

New York State.gov - Medicare Supplemental Plans and Rates 

(as of 10/19/2019). 

 

I do not know how each of the various carriers rate their plans - I did not look to see if this information was provided under each carrier/plan.   Hard to do on a mobile device.  These are the ways Medigap plans can do their rating:

  • Community Rated
  • Issue Age
  • Attained Age

For a good comparison by plan, to compare apples to apples, this info would be beneficial because just because they are the cheapest now does not mean that will always be the case.  Plus some may give a declining discount which goes away after a few years + any market increase.

 

Also depending upon how a specific plan is rated, the annual renewal would be at a different interval, set by the insurer.  Community rated plans could be on some annualized date, attained age rated plans and perhaps issue age rated would be around your birthday - 

 

Does this link give you the info you are seeking?

 

 

 

 

 

 

 

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How do I find premium price comparison for Medigap 2020 plans?

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Message 8 of 8

Does anyone know of a website where I can find and compare medigap pricing for 2020 for NYS?  All I can find are sites that have the 2019 pricies.  thx!

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