Bear Necessities of Medicare, y'all... Episode 21.
You can purchase guaranteed renewable coverage when you have original Medicare. That means it is possible to have a plan that you can "marry" as you may have heard me say a time or one hundred?? Marrying a plan means that they can never drop you or change your coverage. yippeeeeee!!!! They can and will go up. Like milk and eggs, y'all... the price goes up. You actually do have the choice to buy coverage that is contractually guaranteed in the way and the times it goes up. Medicare supplements can be priced either as: 1. COMMUNITY RATED - your price goes up as claims go up in a community as defined by CMS a group of beneficiaries purchasing the same type of coverage in the same "block" or time period 2. ISSUE AGE RATED- Your price goes up only with inflation. You are the age you are when you buy your plan for life. You keep the age of issue. For example, you can buy a plan at 65 and be 65 for the life of the plan. Your price will not go up just because of your birthday and you will pay the 65 year old premium for that plan. They will go up. THEY ALL GO UP. This structure will only go up for inflation. 3. ATTAINED AGE RATED- Your price goes up as you age. So when it goes up, that's actually good news and all you have to do to hear it, is wake up another wonderful day and enjoy Medicare. Some premiums sound too good to be true and may even come with a line, "they're all the same get the cheapest one..." If I had a nickel for all the nickels those will go up and according to Medicare become the most expensive to own... well, I could fix the coin shortage of the whole country. Some premiums go up in the form of vanishing "discounts" so beware those little bells and whistles. You're going to live longer than anyone ever has. So it is a blessing indeed that you get to choose the price structure also called premium rating of your medicare supplement. Options galore, y'all. Isn't this great? www.mamabearmedicare.com www.facebook.com/mamabearmedicare www.instagram.com/mamabearmedicare https://www.tiktok.com/@mamabearmedicare Yup, we now tik tok... kinda. www.calendly.com/mamabearmedicare firstname.lastname@example.org Text