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My wife and I have supplemental Medicare insurance (Mediagap)through Mutual of Omaha. We have received notices of a 20+% premium increase for the last quarter of the 2011 fiscal year. I do know that Medigap insurance premiums can change from yera to year, but I didn't think that they could change mid-year. Is this leagl or not?
The complaint has been investigated and resolved to the customer’s satisfaction.
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HEFTY MEDICARE SUPPLEMENTAL INSURANCE INCREASE PLANNED
Great news for competitors of United Health Care.
In a move that is worthy of the deception of the year award, United Health Care couches a hefty 11.6% increase in 2012 premiums by saying to its members in a form letter, "We are very pleased to tell you that the rate for your AARP Medicare Supplemental Plan will not increase for the first three months of 2012. Your new rate will not take effect until April 2012." United Health Care gives absolutely no reason for an almost $200 per year increase in premium. You know at least BOA was upfront about its proposed $5 debit card fee (now rescinded). The Obama administration was pleased to announce a Social Security COLA of 3.6% and to point out that this increase should offset a planned increase in the Medicare premium in 2012.
And now United Health Care does this to folks on a fixed income without so much as an explanation. United has tried to sugarcoat a turd. I hope there is enough outrage so they have to take it back while it is still fresh.
Isn't it disgusting how the insurance companies say it like they are doing you a favor. I believe it just turns out to be greed. We got a price increase from Bankers Life without notice, although their customer service people said there were six notices sent out. Turns out it was a glitch in the computer system and we NEVER received the notice. However, this is the 2nd price increase from Bankers in 9 months. It is also interesting that the increase was about the same as the COLA. The increase that came in August 2011 was around 20%. It's just greed, greed and more greed.
Dillan ratigan's book "GREEDY ###" has it dead on. the 1% are continuing to take it all. Mutual of omaha just sent me notice 06/06/12 that my quarterly premiums will increase from 524.06 to 628.08 for plan F. Our government offers us no protection while they line their pockets. -----TIME TO MOVE TO ANOTHER CONTRY-----
Mutual of Omaha is a Grade A company. To maintain that grade level they must sometimes raise their rates. All companies do it at some point. It's business. The benefits for plan F outweigh the cost.
Grade A means they have deep pockets. It does not mean they are reputable. It does not mean they put their customers before their profits. There are a lot of complaints online where peoples rates have been jacked horrendously. My father had plan F, and when he passed at 100 years and three months, he was paying $275 per month.