Jared Strock on LinkedIn: Medigap double digit rate increases are up this year. 33% of approved… | 31 comments (2024)

Amanda Brewton

Owner of the FMO, Medicare Answers Now and Creator of the Medicare & Margaritas, and Ms.Medicare conferences. I teach agents how to achieve their dreams and grow their business.

2d

Jared, can you do plan N and then also what is the growth rate of g & n as far as marketshare?

Jim Bonnette, MD

Chief Medical Officer & Healthcare Strategist 86Borders

2d

At some point the policy is no longer worth purchasing. At $510/month mine is close to the point of zero return, depending on the actual proposed increase for 2025 I may decide it’s time to drop it.

Robert Adams

check out medicaredepotonline.com

2d

Here's another question. How many agents will ADMIT. They prefer supps, hoping the client gets too sick to change and will stay on that supp.While they don't need to service the client knowing " they aren't going anywhere" yet if they had a mapd, can save money and make changes annually The question is. Where's the "freedom" to chose when your sick???? And paying $400 plus a month on 23k income?????

Michael Cyrino

CEO - Medicare Mike Team 🚀🦸🏻♂️ APPLY to work with us: info@medicaremiketeam.com

1d

I definitely saw bigger increases than in years prior, but we also did across every other commodity too, and 9/10 members told me at our renewal meeting, they were happy to pay for for the freedom to see any doc, anytime, anywhere and know they were going to ever get a surprise bill after that. I always tell my members when we meet, if they can afford it, there is no better option than a Supp G, if they can’t, then let’s go MAPD, but ultimately it’s a personal financial decision and a decision that has many factors. With a supp, the conversation is so much larger than just dollars and cents, but one about lifestyle, network, market volatility, provider preferences and availability, convenience, NEADS, and so on. Here’s to hoping the market stabilizes a bit this year and actuarials are able to better predict spending :)

Pete English

Medicare & Health Technology Leader l Growth Accelerator l ICHRA Proponent l Speaker

2d

Great stuff, as always, Jared.I think the recent price increases are driven by multiple factors. One is the fact that more Medicare age-ins are opting for Med Adv plans, which reduces lower age (= lower claims) individuals going into Medicare Supplement plans. Another is that there was "pent up" claims post COVID that have hit most Medicare carriers, in both their Medicare Supplement and Medicare Advantage plans. Thirdly, as many beneficiaries are notified of increases to their Medicare Supplement premiums, many are opting to switch during the Annual Election Period (AEP) to a Medicare Advantage plan.

Paula Z. Connor

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2d

My Plan G plus Part D increase was < 4%.

Dallas Grabow

CERTIFIED FINANCIAL PLANNER™ professional at LPL Financial

2d

Tells me though that we have cuts in benefits or increase in prices for MA/MAPD coming as well. No safe haven for the real issue of medical inflation that is not being addressed in an effective way from our government.

Robert Adams

check out medicaredepotonline.com

2d

I'm curious. Which agents will admit the write N plans due to higher Comps.

Robert Baer

Agency Director at Senior Benefits Center

2d

Very informative

Ellen Brown

1d

good stuff