Insurance Provider Called and Informed about Premium Raise
Increased health insurance premiums are one of the many reasons 1-800-MEDIGAP has seen a "20 percent increase in calls to their toll free hotline since the Open Enrollment period has started for the Affordable Health Care Act". Many seniors are confused, as they feel they are needing to switch to one of the bronze, silver or gold plans offered at healthcare.gov when in fact they do not even qualify if they are on medicare part A and part B.
Many individuals and families are also calling, wondering what to do, because they received a letter stating one of 3 things:
1) Your policy will be CANCELLED on 1/1/2014
2) Your policy premiums are going up by xx%, starting next month.
3) You have the option to stay on the policy you have, with different benefits and increased premiums or change to the following plans.
No matter the mail you get, you need to understand you have choices but they are going to be different that the ones you have had in the past.
The entire system is changing, and no matter what the end user is going to have more skin in the game.
Whether you go with the Obamacare options, or with a private insurance company, your annual out of pocket exposure is most likely going up.
Gone are the days of you paying nothing, you are going to be on the hook and it is time to start figuring out for what. Whether it is a co-insurance, a co pay or monthly premium, you need to start asking questions and add up the whole cost to own your new plan. Then pick the plan that makes most sense for you and your family.
Most likely you will find that the cheapest monthly plan, is not really the cheapest all around plan when you start adding in co-insurance.
Good news, is many of the private insurance companies are all ready building and filing new MEDICAL GAP plans, that will help consumers fill in the gap.
Approximately 10,000 seniors a day are turning 65, thanks to the baby-boomers. Most of them now get some sort of Medicare Supplement Insurance plans (MEDIGAP) that fill the the medical gap created by the shortcomings of medicare. We believe these new medical gap plans will be very popular to help cover the expenses your new health care plan WONT cover.
Bridging the gap Obamacare has created for the millions of Americans that were happy with their current plans, is going to create a whole new industry. In-fact, economists believe that their will be multiple new industries and markets created around the new ACA. Many of these programs will be funded by the government, and the rest will be paid by the insurance carriers, thus one of the reasons that your carrier is increasing their premiums.
Reported by Jef Cline of 1-800-MEDIGAP