Your Medicare Supplement Rate Went Up — Now What?

Medicare Supplement plans (also called Medigap) are designed to help cover costs Original Medicare doesn't pay — such as deductibles, copays, and coinsurance.

Because these plans cover real medical expenses, premiums typically rise over time. The most common reasons include:

• Medical inflation and rising healthcare costs
• Age-related rate adjustments
• The overall claims experience of the insurance company

Rate increases are not a reflection of your personal health or how often you use your plan. They apply to entire groups of policyholders.

Here's something many people don't realize: Medicare Supplement benefits are standardized by the federal government.

That means a Plan G from Company A provides the same Medicare-covered benefits as a Plan G from Company B. The difference is often the price.

So if your current plan has increased significantly, you may be able to move to a different carrier offering the same benefits at a lower premium — assuming you qualify medically.

Many beneficiaries continue paying higher premiums simply because:

• They've had the same plan for years and never reviewed it
• They assume switching is complicated
• They believe they can only make changes during Annual Enrollment
• They've never been shown a side-by-side comparison of available carriers

The truth is, in most states you can apply for a new Medicare Supplement plan any month of the year. If approved through medical underwriting, you could keep the same level of coverage while lowering your monthly premium.

A Medicare Rate Review is a simple, no-obligation process to help you understand your current situation and see if better options are available.

Here's what happens when you request a review through Medicare Rate Rescue:

• You provide basic information — no medical exam required to start
• A licensed agent compares your current premium to other available carriers in your area
• You receive clear, side-by-side information on your options
• If a better fit is available, you decide whether to move forward — with no pressure

If your current plan is already the best option for you, you'll know that too. Either way, the review is free.

With ongoing changes in the Medicare landscape and continued upward pressure on healthcare costs, more beneficiaries are seeing larger-than-usual rate increases.

Reviewing your Medicare Supplement plan today could help you avoid another year of unnecessary overpayment.

Sometimes the right decision is to stay exactly where you are. Sometimes the answer is to make a change. Either way, you'll know you've made an informed decision.