Your Online Resource for Medicare Insurance: Guiding you along the maze of Medicare

Will Your Medicare Supplement Change Over Time?

This is one of the most common questions we get, and there are good reasons to ask.  Group health insurance changed almost every year that you worked, and even individual health insurance before 65 could single you out for changes in both price and benefits or to cancel your coverage outright.  Medicare Advantage Plans and Prescription Drug Plans change both the price and the benefits every January 1.

The benefits of your Medicare Supplement, however, are renewable for life and have been standardized by law.  In short, your benefits for a Plan F, for example, won’t change from year to year and won’t change even if you switch companies.

No company will ever be able to tell you, “We think we’ve paid enough claims on you, so we’re cutting you off.”  You can never be singled out for your benefits to end or reduce due to your personal claims or for your rates to go up individually due to your health status.

Your premium can increase automatically if you have an age-rated plan or by approval if the company is granted a rate increase by the state insurance department for all policyholders in your state.  In some cases, if you move to another state or even to another ZIP code within your state, your premium could go up or down at your anniversary date, based on the prevailing medical charges in your new location.  Your benefits, though, still won’t change.

If you currently do not have a Medicare Supplement and are interested in receiving a free, no obligations Medicare Supplement quote please contact me today.

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