How much Medigap rate increases by company, is a question that many people frequently ask. The fact of the matter is that not only does every company have their own supplement plans that they sell to Medicare beneficiaries, but so do independent insurance agents and brokers who get paid on commission from the various companies. There are several factors that go into setting supplement rates, among them the health status of the average senior citizen in America. The average person over the age of 65 is considered to be “moderately” healthy by Medicare’s standards, which means that they don’t have to really suffer from any major medical problems to qualify for coverage. But that’s not the only standard by which Medicare rates are set, as they also take into account a person’s overall lifestyle and current state of health. Thus, a person who exercises on a regular basis, consumes a healthy diet, doesn’t smoke, and isn’t overweight will typically receive a higher Medicare rate than one who is couch-potato and doesn’t exercise or eat a healthy diet.
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Of course, if you fall into one of those rarer categories described above, such as a male model who is completely healthy and is only slightly overweight, Medicare rates will go up all the same because male models are considered to be less “average” in the overall health picture than female models are. Senior citizens are considered to be in the “median” category according to Medicare guidelines, which means that they don’t have to fall into the healthier category to find that they’ll pay more for a supplement policy. So in reality, how much do Medicare supplement rates go up by a company can actually vary greatly, depending on your current lifestyle.
There’s really no way to predict how much they’ll go up. It’s a completely unpredictable industry, dependent on a lot of factors that can’t always be predicted. So the best advice one could possibly give is this: Be diligent about your own health, and don’t put yourself into a position to become a higher risk than you need to be. If you need more coverage, contact your policy provider and see what sort of additional coverage they can provide for you, assuming you need any. Otherwise, don’t hesitate to shop around for a cheaper supplemental policy to suit your needs.