Medigap Plan G 7/2024 13% and 1/2025 5% Premium Increase Announcement for Community Priced Product

@garyaneudahl 

Where are you located? Have you checked other plans for their prices?

I realize this is no excuse but I did watch an interesting video on YouTube about the increasing prices of mitigat policies. Apparently during the pandemic nobody went to the Doctor and a lot of procedures were put off. Now that things are back to relatively normal people are going to the Doctor and getting these procedures done in the last few years. So now claims are dramatically going up.  So the insurance companies make tons of money during the pandemic but are now losing money because so many claims are being put. And especially plan G as it is the most popular one right now. As I said it's no excuse the increases are still ridiculous and I totally agree with you. UHC is also one of the bigger companies that a lot of people belong to so that's another reason th3y are getting so ,any claims.

I feel that AARP scammed me.  I was enrolled in Dec 2023 in AARP medigap for first time. Told I needed to join.  I took out 5 year AARP thinking I had to keep my membership with them to be enrolled and save money on my plan.  6 months after the UHC AARP sent letter advising 9 % increase.  I looked at other company plans this year and they are all lower.  I want my refund on AARP member.  They say they are looking out for seniors.  This is not what I experienced.  It's seem like they bate us to join.

I joined AARP Dec 2023 to save on my Medigap.  The only reason I joined --I took out 5 yr membership.  UHC AARP sent me letter after 6 months advising 9% increase.  I compared the prices AARP UHC is now charging for this and they are highest. I feel like this was a scam.  How do I get my prepaid membership refunded --AARP is alway saying they look out for seniors.  They aren't helping when the plans they endorse increase the premiums like this.

 My UHC Plan G  went up about 12% for mid-year 2024 and will go up another 4% for Jan 2025.

---

@garyaneudahl wrote:

I received a letter noting my AARP-UHC Plan G policy premium is going up 13% as of July 2024. It also stated the cost will go up another 5% on top of that for January 2025.

....

What exactly justifies an 18% price increase in seven months time (from June 2024 to January 2025 premium payments), especially with most of it taken mid-year with very little notice and opportunity to say NO to it?  

---

This is an old post, but it's at the top of the list now so I assume people are reading it.

1.  That 5% increase in January?  I bet that's due to the reduction of the poster's age-related discount, and people with AARP/UHC policies that have an age-related discount agreed to that increase in their premium when they signed up.  So it's the furthest thing from a surprise possible.  Shoot, you even know what percent the premium will increase each year.  The increase starts at 5% and goes down a little each year until it reaches 0%.  So it needs no "justification."

2.  The increase in the middle of the year applies to everyone with a given plan.  That's business as usual, and is based on the claims experience of the plan; insurance companies: premiums are based on how much the insurance company pays out in claims.  And the timing has nothing to do with the opportunity to say "no," assuming you mean switching to a different supplement. There's nothing restrictive about switching in the middle of the year--if you can pass underwriting, or if your state has a period during which supplements are guaranteed issue, you can switch.  If you're thinking about the end-of-the-year open enrollment period, that has nothing to do with supplements.