Grand Valley Senior Benefits (970) 773-0220

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A Special Note About The Recent United Healthcare Rate Increase

United Healthcare Rate Increase

I wanted to share some important news about United Healthcare Medicare Supplement plans. You may have received word about the premium increase. I know that’s not the kind of news anyone enjoys hearing about. So, let’s go over what’s happening and what it means for you.

What’s Happening with Premiums?
United Healthcare is raising premiums on their Medicare Supplement plans, effective June 1, 2025. Depending on where you live, your increase will be either 15.3% or 23.1%. It’s a sizable jump, and it’s tied to rising healthcare costs and claims they’re seeing across their plans. I don’t set these rates it’s all from the insurer—but I’m here to help you figure out what to do next because you have options.

What’s Underwriting, and Why Does It Matter Now?
If you’re considering switching insurance companies to lower your cost, you must know about “underwriting.” Underwriting is the process insurance companies use to review your health and medical history when you apply for a Medicare Supplement. If you enrolled during your Initial Enrollment Period (that six-month window when you turned 65 or first enrolled in Medicare Part B), they had to take you, and no health questions were asked. But outside that time, underwriting comes into play. You answer some health questions, and they check your records to decide if they’ll approve you, adjust your rate, or sometimes decline a new plan.

What This Means for You
If you want to switch companies, underwriting will be a factor. Every company has its own rules, though. It can be tricky, but I’ll sort it out with you. Let’s Find the Best Path Forward I know a premium hike like this can shake things up, but we’ll find a solution that works for you. The good news is that you can switch Medicare Supplement plans 365 days a year, but you’ll need to go through underwriting to make the change. All Medicare Supplement Plans are standardized, meaning all plans with the same letter must offer the same benefits. So, if you switch to another company’s Plan G, your benefits won’t change, only your premium will. If health challenges mean switching Med Supp plans isn’t an option, and you’re considering a Medicare Advantage plan instead, you’ll need to wait until October 15 to start that process, as that’s when the annual enrollment window opens. Just a heads-up: make sure all your doctors and preferred hospitals accept the Medicare Advantage Plan you’re considering—it’s a big decision. Many of you already know that I do not sell Advantage plans, but I’d be happy to refer you to someone trusted who does—just let me know.

I will contact everyone affected by this rate increase, but it will take time. If you have questions and need immediate answers, call me at 970-773-0220 and we can discuss your best options.

Lew Barr,
Independent Agent

See Rate History

United Healthcare Rate Increase

United Healthcare Rate Increase

United Healthcare Rate Change History

It is impossible to predict which Medicare supplement companies will exit, sell their book, pull back, or raise rates quickly. Small companies sometimes raise fast, but sometimes they don’t. Big companies sometimes raise rates fast; sometimes they don’t. New companies sometimes raise rates fast; sometimes they don’t. Every now and then, we get a real doozy, but there’s very little rhyme or reason to lean on.

Using the Medicare Plan Finder

Please watch this informative video for help in selecting the lowest cost drug plan for 2025.

Please Note: When you enroll in a new drug plan, it will take effect on January 1 and automatically cancel your previous drug plan.

Below is the contact information for the three lowest cost drug plans for 2025.

Lowest Cost Drug Plans

Significant Changes to Medicare Prescription Drug Plans for 2025

If you do a google search on Medicare Prescription Drug Plan changes for 2025, you will see articles stating that the Inflation Reduction Act of 2022 will lower drug costs for people on Medicare. While this is undoubtedly true, it is not the whole truth, and unfortunately, they are lying by omission.

First, let’s look at the positive effects of the Inflation Reduction Act on the 2025 Medicare Drug plans.
Facts on the changes in the 2025 drug plans:

  • The maximum annual cost of prescription drugs will be capped at $2,000.
  • All Medicare drug plans, including Medicare Advantage plans that offer prescription drug coverage, must allow patients to pay for their out-of-pocket prescription costs in monthly installments, with a monthly spending limit.
  • Please note that Medicare recipients must enroll in the monthly payment plans as enrollment is not automatic.
  • The Medicare Part D annual drug cap applies only to medications covered by a person’s prescription drug plan.

The dirty little secret that nobody wants to discuss with the Inflation Reduction Act is that there will be a significant increase in the premiums that Medicare Beneficiaries will pay for their Medicare Prescription Drug Plans.

So, while it is true that many people will pay less for the prescriptions, many more people will pay more for their drug plan premiums.

We don’t know how much more Medicare Drug Premiums will increase, but people in the industry expect prescription plan premiums to increase by 50% or more.

Drug plan pricing for 2025 will not be available until October 1, 2024.

I advise all my clients to run their drugs at the Medicare Plan Finder on the Medicare.gov website.

I will record a ” How-to Video” on using the plan finder, which will be available on my website in a few months. As always, I will run the drug plans for any clients who ask, but I want to let everyone know that I may not be able to accommodate everyone, so some people may have to run their own plans.

For those of you not taking any prescriptions, I will list the three lowest-cost drug plans on my website once the new plans become available.

If more information on the drug plans becomes available, I will include it in the Fall newsletter.

In the meantime, if you have any questions or concerns, do not hesitate to call or email me.

2023 Medicare Costs

Medicare Costs 2023 CMS (Centers for Medicare and Medicaid Services) has announced the Medicare Part A & Part B costs for 2023.

Part A

Part A deductible 2033 is $1,600.00 per period, an increase of $44.00.

Part A deductible in 2022 was $1,556.00 per period.

Part B Premium

The standard monthly premium in 2023 is $164.90 or $5.20 lower than in 2022

The standard monthly premium in 2022 was $170.10

Note: People in higher-income brackets will pay a greater Part B monthly premium.

Part B Deductible

The annual deductible in 2023 is $226.00, a decrease of $7.00 from 2022

The annual deductible in 2022 was $233.00

Click here to see more detailed information directly from the CMS website.

Your Questions and Concerns are my Business

I help seniors confused by their Medicare options by explaining Medicare in plain English, saving them time and money.

I specialize in Medicare plans for seniors and represent all Medicare Supplement plan types.

Medicare Explained in Plain English

Medicare And Travel Outside The United States?

Medicare and Foreign Travel In most situations, Medicare won’t pay for health care or supplies you get outside the United States, which can pose problems when traveling. But your Medigap (Medicare Supplement) policy may offer additional coverage for emergency health care services or supplies you get outside the U.S.

Standard Medigap Plans C, D, F, G, M, and N provide foreign travel emergency health coverage when you travel outside the United States.

Plans E, H, I, and J are no longer for sale, but if you bought one before June 1, 2010, you might keep it. All of these plans also provide foreign travel emergency health coverage when you travel outside the U.S.

The coverage from your Medicare Supplement plan only applies to the first 60 days of foreign travel. There is a $250.00 deductible, then an 80/20 split, with the plan paying 80% and you pay the other 20%, up to a lifetime maximum of $50,000.

When planning extended travel (more than 60 days) or you are concerned about the $50,000 limit, you may want to consider a separate travel insurance policy.

For more information on Medicare coverages while abroad, see the following articles from the Medicare website.

Travel Outside the United States

Medigap (Medicare Supplement) and Travel

If you have questions or concerns, call (970-773-0220) or email me. (gvsb65@gmail.com)

Medicare explained in plain English