Why did my Medicare Supplement premium increase?
Medicare Supplement plan premiums are guaranteed for a specific amount of time.
Most companies that provide Medicare Supplement plans typically guarantee a fixed premium for the first 12 months. After this initial period, premiums usually increase annually. These increases can occur for two primary reasons: an age-based increase, which adjusts premiums as the policyholder ages, and an increase related to the volume of claims made by the insured group.
It's important to note that while all Medicare Supplement plans are federally standardized, the insurance companies offering them can vary significantly in terms of their policies and pricing structures.