This is not an ad, even though those over 65 can save a lot. Anybody with a Medicare Supplement Plan will experience a price creep. I enrolled at a later age than 65 and in 2010 my premium was $200.00 a month. By the middle of this year the premium had increased to $259.00, an increase larger than the cost of living. I just assumed that this was the norm until I talked to my brother, an Independent Insurance agent.
Within a few minutes he informed me that he could give me the same coverage for $214.00 a month. On top of that it would be with the same company just under a different division.
What happens is that once you sign up with a company they figure you will stay with them; after all when I chose my plan 3 years ago I chose the one which I felt was the best value for the money. Now, someone just coming into the eligibility for Medicare will chose a plan and every so often the insurance company will start a new division to attract the new potential customers. Once they have you, then watch the rates go up just as mine did and I would just have figured this is the norm.
If you are 65 or have friends that are 65, then have them contact an Independent Agent every couple of years and see if he can find a better price for their plan.
While my brother and I are talking he asked me about my plan for medicine. My 70 dollar a month plan will now be around 40. This is not peanuts. I am looking at a savings of 75 dollars a month and that is over 900 dollars a year and for a retired person, that will buy a lot of peanuts.
The medicine plan must be done during the open enrollment slot and the supplement plan must be done within 30 days of the original date. Contact any Independent Agent and he will give you the details and notify you when you are eligible. Pass it on.