The title to this post is admittedly deceiving. There is simply not way to altogether avoid Medigap rate increases. Regardless of the company you are with, or the plan that you have, all Medigap plans are going to go up in price over time.
Some companies claim that their rates do not go up, or at the least, go up at a slower rate than other options. I would be very leery of anyone who tells you this. Because quite simply, that is not the case. Even issue-age and community-rated policies are going to go up over time. They may not go up based on you getting a year older, but they go up for other more arbitrary reasons, including but not limited to, administrative costs increase, changes in Medicare, etc.
The most effective strategy, then, because you can’t avoid the rate increases, is to maximize your savings whenever possible. If your rate goes up, we advise “shopping” it around to see if you can get a better deal from another company for the same coverage plan. There is simply no other way to keep your costs low over time.
The best way to “shop” around is to get quotes by email. You can compare “like” plans – same coverage from a different company – and easily see if there is a more suitable option for you. If there is, changing Medigap plans is very easy to do. You can simply apply for the new plan with a future effective date. Then, once it is approved, you cancel the old policy effective that same day. And, there you have it, you’ve easily saved yourself hundreds of dollars a year (sometimes, thousands, depending on what plan you plan and where you live) and kept the same level of standardized Medigap coverage.
Now, many people obviously don’t realize the benefits of this, or simply don’t like thinking about health insurance, but the benefits far outweigh whatever perceived inconvenience you believe that it is. If we can assist in your comparison process, we’re happy to do so. Contact us at: Medicare-Supplement.US, Or get more information by calling 877.506.3378.