As you may know, Medicare’s annual enrollment just ended December 7. But, that’s not all that’s special about December for Medicare beneficiaries. All health insurance companies raise premiums, and the next January 1 will not be an exception. That’s true for Medigap plan rates as well as for other types of health insurance, although there’s a sure-fire way to lock in current Medigap rates if you act right now.
If you enroll in a Medigap plan this December, several major health insurance companies guarantee you won’t have to worry about any premium increase for the next 12 months. The guarantee is based on the date you enroll, and not the date when your plan takes effect. These companies guarantee that they will not increase premium rates for at least a year when someone at least 65 years old gets a Medigap plan with them: Aetna, Mutual of Omaha, SecureHorizons, United of Omaha, and United World.
AARP also guarantees not to raise rates for six months on its Medigap plans for people who are between the ages of 50 and 64. If you are under age 65 and have been receiving Social Security or Railroad Retirement Board disability benefits for no less than twenty-four (24) months, you are qualified to get premium-free Medicare Part A benefits and Medicare Part B, which has a monthly premium.
Once you have Part B, most states will give you an open enrollment period of six months from the time your Part B plan takes effect when you are guaranteed acceptance in a Medicare Supplement plan, or Medigap insurance, regardless of your current and previous health status.
A majority of states make at least one Medigap policy available for those under age 65. That includes: California, Colorado, Connecticut, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, North Carolina, Oklahoma, Oregon, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Washington, and Wisconsin.
And, if you apply by December 15, you will be able to get your Medigap plan ID card by January 1. You can read more about Medigap plans at www.MedigapAdvisors.com/medicare-supplemental-insurance-plans.php.