Your Current Wisconsin Medicare Supplement Plan May Be Costing You Big Money
Every few years, anyone with a Medicare Supplement insurance plan should review their policy to see if they could lower their premium while maintaining the same benefits that they currently have.
In fact, it’s often easier than you think to save money AND get the same coverage as your existing plan.
How is this possible?
A Little Known Fact about Medicare Supplement Plans and Their Premiums
As premiums rise, existing Medicare Supplement plans will lose a percentage of their plan participants to other plans offering lower rates.
Those that leave are healthy and incur fewer claims.
When they leave the plan, the remaining less healthy participants with higher claims experience will cause premiums to rise much faster compared to some other plans.
Increases of 15% per year or more are common, whereas newer plans may experience increases of less than half of that amount.
The result is that those in older plans may be paying premiums that are far higher than they can receive elsewhere.
Consider this example - Jane purchased her Medicare Supplement policy three years ago when she turned 65 and went on Original Medicare paying $130 per month.
In that time, she has had three increases on her premium:
Year 1 increase: 9% to $142/month
Year 2 increase: 19% to $169/month
Year 3 Increase: 18% to $199/month
With these increases, Jane is now paying $199 per month.
That's an increase of over 50% in three years!
What's more, Jane's husband, Dan, has seen similar increases in premium and now pays $211 per month.
By shopping around and choosing a plan from another company, they could pay $135 and $148 per month, respectively, for THE SAME COVERAGE.
Today, Jane and Dan pay a combined $400 per month for their insurance; shopping around would lower their premiums to $283 per month... a savings of over $1400 per year!
Federal and State law mandate that "any standardized Medigap policy is guaranteed renewable even if you have health problems."
This means the insurance company can’t cancel your Medigap policy as long as you pay the premium.
(See Choosing a Medigap Policy for more information.)
You Could Be Overpaying Every Year by $500 or More
As one of Wisconsin's premier senior insurance agencies, Future Financial Resource Group has helped over 60,000 residents save substantially on their Medicare Insurance premiums.
Savings of $500 and more per year are common, and we work closely with every customer to ensure a smooth transition to enjoying the savings of their new plan from a top-rated company.
Medicare Supplement Insurance Plan Disclosures
Neither Future Financial Resource Group nor the Medicare Supplement insurance policies it sells are connected with or endorsed by the U.S. government or the federal Medicare program.
Plans may be available to persons eligible for Medicare by reason of disability.
All plans may not be available in your state/area.
Call to receive complete information including benefits, costs, eligibility, requirements, exclusions and limitations.
This is a solicitation of insurance. An agent my contact you.
Video(s) used with permission from United HealthCare Services, Inc.. Adapted from UnitedHealthcare’s award-winning Medicare Made Clear education series. All rights reserved. No portion of this work may be reproduced or used without express written permission of United HealthCare Services, Inc., regardless of commercial or non-commercial nature of the use.