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<< Which Medigap do you have? >>
United American high deductible Plan G for $48/month.
Washington State is a "Community Rating" state, so everyone from age 65 to 120 pays the same premium.
If you live in an "Attained Age Rating" state, your age 65 premium would be about $35/month while an 85 year old is paying $70/month.
Here's the the Medigap price list from the WA State Insurance Commissioner. Apparently it's pretty rare for the State insurance commissioner to post that information. The insurers and Medicare Brokers want to make it as hard as possible to compare rates and catch salesmen in lies.
insurance.wa.gov - Medicare supp plansI noticed that the link is dead. I suspect a conspiracy. {{ LOL }} I've emailed the State insurance commissioner to ask what's up.
I learned a new Medicare fraud tactic that some states with broker-friendly regulation apparently allow, "the conditional discount".
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reddit.com - Medigap plans community based pricing vs age basedKeep in mind that the rates for AARP/UHC include a whopping 39% initial discount, but after 3 years, the discount starts going away at 3% per year. That's like getting a 3% annual increase just for the disappearing discount.
Most people think this is how it works, but it isn't.
The discount goes down by 3 percentage points annually, which is different from going down by 3%. And a reduction in a discount of whatever percent or percentage points doesn't correspond to an increase in the premium by the same whatever percent or percentage points.
The first time the discount goes down, the three-percentage-point reduction is the same as three percent. But subsequent ones are not.
That first time the discount goes down by 3%, the premium goes up by 5%. The last time the discount is applied, before it goes to zero, the premium increase will be 3%, but that's the only time that happens.
It's revealed when you do the math. }}
I'm not surprised to see AARP endorsing this nonsense. (See $9 Billion United Healthcare kickback to AARP for promoting its Medicare plans.
thecentersquare.com - Article dabdintercst
