Save on Medicare Supplement Premiums
By Bryan Wright
If you’re new to Medicare or will be soon. Or if you have an existing Medicare plan and are tired of stomaching the persistant and rate increases, this video has important information that can save you thousands of dollars during your lifetime. Hi, I am Matthew Claassen, founder of MedigapSeminars.org. Today I want to share with you a couple of real life case studies to show you the value of and the difference between choosing the right person to help you with your Medicare Solutions or the wrong person. If it hasn’t happened already and you about to be new to Medicare, you’re about to be inundated with mailers and telephone calls, and maybe even people knocking on your door as it seems like every insurance agent in the world is trying to elbow their way to be first in line for your business. The overwhelming majority of insurance agents that specialize in Medicare target the “turning 65” market. There’s nothing really wrong with that, in and of itself, until you turn 68 or 69 or 70 and you’ve experienced persistent rate increases and the agent that sold you your policy when you were new to Medicare is nowhere to be found. You haven’t heard from them since, well since you bought your policy. You have become up an orphaned or an abandoned client. Here’s the problem. From an insurance business point of view there are two very separate and distinct markets for Medicare. The first market are those who are new to Medicare. That’s typically people between 65 and 68 years old and are getting theirMedicare Part Bfor the very first time. When you’re new to Medicare you don’t have to answer any health questions. You cannot be denied coverage or rated due to a medical history. For an insurance agent this is actually a great market. You’re going to buy something. You’re going to buy a Medicare plan of some sort. It’s really just a matter of which plan that you buy and from whom. It doesn’t take any special skills or knowledge for an agent to be moderately successful in the “new to Medicare” market. It just takes persistence. The problem comes when you’ve been in Medicare for a while and you had some persistent rate increases. The agent that sold you your policy when you’re 65 is nowhere to be found. It maybe that they’re out of business because they couldn’t compete with the other agents trying to elbo their way into the market. Or, it maybe they don’t know how to shop a policy once there’s medical underwriting invloved I mentioned earlier there are two separate and distinct markets for Medicare; the first being those who are turning 65 or are “new to Medicare” and the second market are those in their late 60s or in their 70s in reasonably good health. You see, the insurance company that competes for the new to Medicare market, also know they are taking on a group of clients to have a health history in the may either normally be rated or or even denied coverage. The only way that company can stay in business is to, later on raise, their prices. When that happens, those who have experienced the rate increases should be shopping for a new policy. There are companies that intentionally avoid being competitive to the“new to Medicare”market so they can focus on those who are healthy later in retirement. Let’s look at couple examples. These are some case study some plans that have recently gone through and we are just going to give you some examples. We have Gary M. Gary is 70 years old and from Stillwater Oklahoma. When he was new to Medicare he boughtt a policy from Blue Cross and Blue Shield…. When an agent comes to you and on their business card they have an insurance company name or logo, they have Blue Cross Blue Shield or Bankers Trust or United Healthcare or whomever, they are an employee of the insurance company. They can only show you the policies from that company. Something important that is repeated over and over in the Medicare & You guidebook and Choosing A Medigap Plan guide is that an insurance company won’t offer all the plans that are available to you. If you really want to look at all the plans that are available to you, you have to look at more than one insurance company. It’s also important is that these plans are standardized. It doesn’t really matter who you buy your plan from. If it’s a Plan F from one company or a Plan F from another, the benefits are a exactly the same. It’s not just regulated, it’s standardize to be exactly the same. Your doctor doesn’t have to work with that insurance company. They only have to work Medicare. They bill Medicare and Medicare communicates to the insurance company. So, let’s go back to Gary. His rates increased to the point where he’s paying $172 a month for a Plan F. We talked when he called us There are 14 different companies offering the exact same Plan F for him, at a lower price. We showed him the lowest priced poicy, that happened to be from another very well known company, and with Plan F he should be paying $146 a month instead of $172. That saves him $312 a year. Or, what he didn’t know about, is that he could have a Plan G. The only difference between the Plan G and the Plan F is that with the Plan G you actually pay theMedicare Part Bannual deductible. For 2016 it’s $166. Plan G also does not experience the same rate increases that Medigap Plan F does. What can he save with the Medigap Plan G? Well we showed him he could lower his rate from $172 down to $104 a month with the Plan G. That will save him $816 a year. Out of the $816 and pays $166 annual Medicare Part B deductible when he sees a doctor. It took him 15 minutes. We completed the application online. Starting in the next month he is saving $816 a year. We also have Lois T. from Indiana. She contacted us through our website. She 72 years old and bought her Medicare policy when new to Medicare. She tried to contact her insurance the agent and has not received any return phone calls. Lois is paying $181 a month for Plan F. We show that there are 21 different companies offering the exact same Plan F at a lower price. We showed her how she can keep her Medigap Plan F and lower her cost to just $127 per month. At $127 a month she is saving $648 a year, keeping the exact same Medigap Plan she has. We also talked to her about a Plan G, by the way, because that is a better value. But she chose to stay with the Plan F. Great! We spent 15 to 20 minutes on the phone going over an application. We shared the computer screens so she can “look over our shoulder” and actually watch our screen as we’re completing the application. Starting next month she is saving $648 a year. While all the policies will go up in price over time, you should expect a 2 to 4% annual increase. But, if you’re experiencing a 7%, 8%, 9% or 10% increase, which has happend quite a bit lately, you should shop for a better policy. The odds are we can save you $100s a year. You know what is really frustrating? For how many years were these people overpaying for their insurance because their agent, that person they relied on when they turned 65, hasn’t gotten back to them. And hasn’t talked about price increases and shown them alternatives. When you have the right insurance agent you have someone that will monitor the market and your price increases. Shop your policy when there is an abnormal price increase, and make sure that you are never overpaying for your insurance policy. When you have the insurance agent, they are there for you. They will return yourcalls it will answer your calls They will be there for you when you need them and be proactive to make sure that you’re never overpaying. When you shop for policy and you’ve been in Medicare for longer than six months,Medicare Part B, for longer than six months, you have to go for medical underwriting. Medical underwriting is not something to be feared. Medical underwriting is just a series of questions that are asked. Every insurance company has a different set of questions. But, they are typically asking for your medical history. Have you had a heart condition, a heart attack, stroke, cancer, COPD? Have you had retinopathy or nueropathy from diabetes? Every insurance company has a different set of questions. They may even have difference sets of questions for different states. If you have a medical history then it’s our responsibility to know those questions and know which company will, treat you better and give you the best price. Those ages that focus on a “new to Medicare” market often don’t even know which questions are asked or how to shop for a plan when Medical underwriting is required. My company doesn’t just work with the “new to Medicare” market. If you are new to Medicare, certainly we will help you. As a matter of fact our website is filled with information; articles, resources, videos all there to help you make an informed decision about your Medicare. But, if you have been on Medicare for a while and you’re starting to experience an uncomfortable rate increases then we are here to help too. We work with seniors from 65 to 75 and older, from coast to coast. We are here to help you get the best policy for yourself and the best price and on average, our clients on average will save between $400 and $1,200 a year just from working with us. That means that there are some that will save less than $400, there are some that are save more than $1,200. Other examples…. Mary & Charles. 71 and 73 years old, out of Virginia. Together the two of them were paying $404 for their Medigap Plan F. $404 a month. We show them how they could keep the exact same Medigap plan they have and lower their priced to $226 a month. That saves than $936 a year! We have Shirley S. from Pennsylvania. Shirley is 73 years old and she was paying $202 a month for her policy. We showed her that she could bring that down to $113 a month, saving her $1,068 a year! I could go on. We have so many of these all recently happening. We have Bill and Meri W, 67 and 70 years old… together they were paying $475 a month for their policy and the year we show them how we could bring that down to $246 a month, saving and $2388 a year. (Ooops. I read from the wrong line) Actual savings was $2,748 / year If you’re new to Medicare, we can help you find the right plan for your budget and stay with you over the year so that you’re never over paying for your policy If you have had a policy for a while and do not feel comfortable with the price increases. If you just want to see if your overpaying … either way, give us a call or click on a button right up here. Go to our “Contact Us” page or the Medicare supplement quote request page. Send us your information, start a conversation. Let’s see if we can help you save some money. Often were able to save people hundreds of dollars a year. Give us a call, contact our website. Instead of going with an agent that could abandon you in the years ahead, leaving you in the position of overpaying for your insurance, perhaps for years, We’re here to help. We become your partner and will make sure you never overpay for your policy. I’m Matthew Claassen with MedigapSeminars.orgThank you for watching!