In an article by the Omaha World-Herald, Juneau senior health adviser Amy W. White wrote, “Media rate increases by the company are a typical part of keeping our plans competitive.” According to White, “In all likelihood, it’s too easy to forget that Medigap rate increases by company are mutual. Mutual plans have rates that are affected by each company’s financial status and future outlook.” Omaha World-Herald reporter Jennifer Behninger adds, “rates don’t keep changing every year like they (the government) used to…and by having a good understanding of why things happen, you can do your best to avoid situations where the most coverage at the lowest rate is only offered for a limited time period – or expires.”
The Lazy Man’s Guide To Medicare Supplement Rate Increase History
According to Medicare rules, the Medicare Supplement Rate Increase History is “a summary of increases that have occurred across all companies within a specific product class.” Medicare rate increases are usually not available to patients who are not enrolled in a mutual plan. If you are currently covered by a traditional Medicare plan and are looking for additional coverage, you may want to discuss your options with a licensed agent. He or she may be able to discuss the possibility of obtaining a competitive rate from a supplemental plan.
Medicare Supplement rate increases government by companies are common occurrences. The goal is to make sure that people have access to quality health care at reasonable cost. If you are interested in learning more about competitive Medicare Supplement rates, you should contact a licensed private insurance agent. To learn more about affordable health care coverage for seniors, register for a free health insurance guidebook.