Medigap Rate Types | Attained-age vs. Issue-age vs. Community

Medigap policies are priced in 3 main ways. There are attained age, issue age, and community-rated policies offered by various insurance carriers. In this video, I'll explain how these different types of Medigap policy pricing will affect you over the years.

Start (00:00)
Inflation increases with Medicare (0:37)
Process of calculating increases (1:17)
Community-rated pricing (1:49)
Issue-age (2:24)
Attained-age (3:30)

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[jeffguldswog]

I find your videos very informative. I'm curious what insurance products Boomer Benefits offers besides Medigap. (in Tennessee)

[christinekincaiddewey]

So helpful. Question: would a community-rated plan rate be more likely to cost less if you live in a suburban/urban area vs. more rural due to the density of population?

[billyrayband]

Dang, this is too complicated...makes me think to just take original medicare for now when I enroll. Sure I got the 80/20 issue but there are strategies to work around that. The last 5 years I have spent less than 1K per year out of pocket (including Obamacare premiums) for my health care. Every commercial I see on ADV or GAP just makes me more convinced its a con job that MIGHT save me money.

[gig]

In all of the videos I've watched regarding Medigap Rate types it is mentioned that regardless of rate types there is almost certainly an increase in cost every year which can be due to age (for 'attained age' rate type), inflation and other factors. I'm curious about the "other factors" - what are they? Roughly or on average, what percentage does age (when applicable), inflation and each of the 'other' factors have on the overall increase?

[susymay]

Is "community" medical in a large group the best policy if you live a very long time?

[dalepittman]

I am 3-1/2 months from turning 65. My wife is 1-1/2 years younger and us a retired Texas school teacher. We have always used her employer insurance because I have always been self employed. She is stuck in the TRS plan because she never paid in SS. TRS as you may know is an Advantt plan for after 65. Also if I get out of the TRS plan I can not come back in until she turns 65 and that will be the last and only time I can return.
I have a lot of concern, my first question is do your services cost anything?
Also are you well versed in the differences in TRS Advantage plan (which is going to United Healthcare in 2021) so that you can help me compare the differences in Medicare plans and Medicare Advantage plans?

Please advise ASAP as I need to make choices soon.

Also I am planning to continue working past 65.

Thanks for your help.

[johnhaynes]

No one wants to sell issue age policies