Medicare Supplement (Medigap) insurance premiums are increasing significantly, with some plans seeing rate hikes of up to 50%, leaving beneficiaries with few affordable alternatives.
This trend affects millions of Medicare recipients who rely on Medigap policies for coverage beyond what Original Medicare provides. The premium increases stem from rising healthcare costs and the potential financial risks insurers face when enrolling individuals without considering their health status due to federal or state enrollment rules.
As a result, many beneficiaries are exploring options like switching to Medicare Advantage plans with lower out-of-pocket limits but restricted provider networks, or opting for Medigap policies with higher deductibles but lower monthly premiums. However, these alternatives often come with trade-offs that may not suit everyone's healthcare needs and preferences.
Read the full article at KFF Health News
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