issue date pricing

[jwalker67 8]

My wife and I have been in plan F-HD with Humana since original enrollment in 2014. We pay $65/mo each. I don't think our pricing has changed much over the 7 years. I just saw on this forum for the first time, "issue date" pricing which is what Humana uses and I guess is why the premiums have been stable. If we were to change plans, e.g. go to plan G with issue date pricing, would that be based on current age or age at original Medicare issued date? Btw, together we have saved saved $15,000-$20,000 over the cost of full plan F since origination.

 

[MBSC]

The plan G premium would be based on your current age, the age when the new policy is issued. Then, going forward the rate changes would be based on factors such as inflation, but not changes in your age. $65/mo is a good rate for a 71 y/o with issue-age F-HD.

In most states, you would need to pass medical underwriting to voluntarily change from F-HD to G. Let me know if you have any other questions.

 

[jwalker67 8]

Thanks, until now I hadn't reviewed our options since we entered Medicare. Talking to several people with Advantage plans and no premiums got me interested in that option. After doing some research, including using this forum, I decided against leaving Medicare. It looked like we could make MA work even though we split our time between Florida and Missouri. The Humana PPO networks in both states are large and include our doctors. Still, What if we had an emergency and ended up out of network and then the insurance company deemed it wasn't an emergency? Potentially a huge bill. Then, having to get pre authorizations on some procedures gave me pause. Ultimately, it was the loss of flexibility and possibly more bureaucracy that is keeping us in Medicare. And, now that I understand Issue pricing and given our positive experience I expect we will stick with F-HD.