Medigap plans are available for Idaho pre-65 Medicare Beneficiaries
Medigap plans are available for pre-65 Idaho beneficiaries enrolled in Medicare Part A and B!
The Medigap open enrollment period and guaranteed issue rules apply to those interested. These can be found on pages 14-16 and 21-24 of the document found here. We recommend people read pages 7-24 of this document to learn more about Medigap plans. Read the rest of the document when you have time.
Idaho code for insurers offering Medigap plans in the state can be found here. Reference docket 18-01-54 for the details.
Exclusive Monthly premiums for pre-65 Medicare beneficiaries wanting Idaho Medigap plans
Current monthly premiums for all insurance companies offering Medigap plans in Idaho are available here. There is a different monthly premium chart for people under age 65. This is the chart for you to review. Notice monthly premiums are 50% higher when compared to the same plan for people age 65. Why? Because statistically speaking people eligible for Medicare under age 65 have higher health care costs. The Idaho Legislature permitted insurance companies offering Medigap plans to have higher monthly premiums than people age 65.
When you turn 65 get lower rates
During the 3-month period before you turn 65, you should consider re-enrolling in a Medigap plan of your choice and start getting the ‘age 65’ rates. We encourage you to look at other companies offering these plans in lieu of your current insurance company. Why? The Idaho market place changes each year. More companies enter our market and existing one’s leave. You should be able to get lower age 65 monthly premiums than the company you are presently with. We can help you navigate your way through this process.
Medigap plans for pre-65 Medicare Beneficiaries
Bring up the pre-65 rate chart for Idaho Medicare beneficiaries mentioned above. Study the chart for a few moments. Notice the premiums for the same plan (Plan G for example) vary between 200 and 300% between companies. Why such a wide variance? Because the companies that have been offering their plans in Idaho longer have felt the compounding affect of annual rate increases. Companies new to the Idaho market have had fewer, if any, increases. Further information on this subject can be found here. Be sure and read this.
How we can help you
We specialize in helping Idaho residents understand Medigap plans and differences between the companies offering them. We actually recommend fewer than 30% of the companies offering these products.
Why? Because they did not pass the 8 criteria we use to screen these companies. Remember, after the 6-month time period from your Part B effective date, you have to answer the health history questions on all companies applications. Your application can be denied depending on your answers. We feel it makes sense to do business with an experienced, high quality company.
We are here to help you understand Medigap plans, company differences, and answer your questions. Enrollment is the next step and we help with that too.
Call us when you are ready. We are here to help.
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