Medicare supplement through Transamerica Insurance?
September 16, 2013 7:21 AM   Subscribe

I am shopping medigap policies for my husband. We have decided to go with part F and were leaning towards the BCBS plan which most people I know in this area selected. Through the Illinois Bar Association we have been offered a Part F plan that is slightly more expensive than BCBS standard F(but price difference eliminated if you pay in advance or automatically). Only difference seems to be that the IBA (Transamerica) plan is "issue-age" rated, meaning if bought during enrollment period when you turn 65 the rate, although not frozen, can never be increased for reason of your age increasing, which is not guaranteed under BCBS. This sounds like a no -brainier but I have no experience or familiarity with TransAmerica. Are they good to work with? Have they been (and will they continue) offering/writing Medigap policies for a while? Do any of you metafilterites have this policy through IBA or another professional association?
posted by Lylo to Health & Fitness (1 answer total)
Issue-age rated plans can be cheaper in the long run, but that doesn't mean that rates never increase. They will certainly increase at least at the rate of inflation, but they can't increase solely because of age.

Getting an issue-age plan for the same price as an attained-age plan sounds too good to be true, so more careful investigation would be prudent.

In order to get a better idea of how good an insurance company is, you should go to one or two Medigap insurance brokers to get their opinions. The insurance brokers are paid by getting a small cut of your premiums. Your premiums are exactly the same whether you purchase yourself or through a broker. In other words, the insurance company pays for the services of the broker. You can get recommendations for brokers by contacting a local hospital or go to the phone book or google. The service is absolutely free to you and it doesn't hurt to get the opinions of a couple brokers.
posted by JackFlash at 11:49 AM on September 16, 2013

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