2 Ways Medicare Insurance Companies can Increase your Plan G Rates (And how to avoid it)

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Do Medicare Insurance Companies have the Right to Increase Plan G Rates however they want? If you are going to go with a Medicare Plan G it will be important to know how and when your rates could increase, as well as what you can do to avoid dealing with HUGE Increases. Supplemental Plan G is a great way to use your Medicare, but you want to make an informed decision.

In this video we will cover the following topics:

1. How is your Plan G Initial Rate Determined?
2. The 2 Ways your Rates can be Increased
3. The method used to determine Group Increases
4. Why Group Size is So Important When You get a Plan G
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How do I call you for the G plan that I want to take in October this year 2024

lormac
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How do you find out the rate increase history of different companies? Is that public info with your state’s insurance commission?

cynthiaarmstrong
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If you live in a Community Rated state like Minnesota, is the Group only going to be people who live in Minnesota or do they have other state’s residents in there too?

genemartinez
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Marvin, you recommend being with a Nationwide company with many policy holders in order to spread risk over a huge number of policy holders which makes perfect sense. But aren't my rate increases based on which state I live in and further by zip code? Aren't my rate increases based on the claims made by my local group as opposed to "nationally"? Thank you, once again for all your assistance.

mauinuts
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Wow a lot of words to say … try to be in a large group . Ie a big insurance company.

stevebuss
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Please let me know about Cigna Plan G
Texas

barbarakrause
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If you turn 65, get Medicare part B even if you have retiree health insurance. Retiree insurance does not count as a viable insurance. I got royally screwed at the age of 70 when I lost my husband’s health insurance. I have to pay 50% penalty every month for the next ten years. That is $80 a month for the next ten years. If you have a health insurance plan because you are retired, get Medicare part B.

bethmorano
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So why wouldn't everyone just buy into the largest group available?

KatieLibby