How come I can’t have those rates?

The quote engine we see is a reflection of today's published rates by the carrier.
This has absolutely NOTHING to do with the rate the long time customer is paying right now.

What you are seeing on the quote engine software, or the rates offered today, does not in any way correspond with the rate increase that a particular person has received over the period of time with the company.

You are not looking at THEIR rates that they have risen to, right now.
You are merely looking at what the rates would be, today, if the person was a new client.

This is a better way to present it. I tell them that if they were a NEW customer with THEIR same insurance company, they would be treated MUCH better today. Insurance companies do not reward loyalty. They are always offering better deals for the NEW people. Just like a cable company, cell phone company, etc.

Even today, gym memberships, etc. will offer a very special program, but the small print says, “Not available to current members.” It is because they already have you, lock, stock, and barrel.

If you don't shop the market, at least every two years, you are at a tremendous disadvantage.
The insurance companies are loyal to one thing – the DOLLAR. And they want new clients, always.
The ones they've already got, they'll continue to raise the rates faster.
See the video:

Medicare Supplement Rate Increase Trend

Medicare Supplement Rate Increase history

A new report by CSG Actuarial shows that the trend in Medicare Supplement rate increases is actually going down.

According to the survey, the average rate increase for 2011 was 8.4%.

The average rate increase from 2012 was 7.2%, while the average rate increase in the year 2013 was down to just under 5%.

This is a positive development, as all seniors consider rate increases in their selection of the Medicare Supplement as to the solution to their healthcare needs.

Watch this video commentary on the CSG study..

 

August Medicare Supplement Rate Changes – by CSG

Courtesy of CSG Actuarial:

Medicare Supplement Rate Changes
August 2013

By csg_actuarial on August 1, 2013 — No comments

Company
Effective Date
Average Increase
Comments
AFLAC8/15/201310.0%Illinois
American Continental Insurance Company9/1/20138.4%(31.5%) – 15%; Varies by state
Avera Health Plans, Inc.7/1/2013-6.2%Iowa
Bankers Fidelity Life Insurance Company6/1 – 7/1/20134.9%0.0% – 10.2%; Varies by state
Colonial Penn Life Insurance Company1/1/20131.0%(5.7%) – 10%; Varies by state
Continental General Insurance Company7/1/20130.0%Arkansas
Continental Life Insurance Company of Brentwood, Tennessee9/1/20136.0%Rhode Island
EPIC Life Insurance Company3/1/201315.0%Iowa
Everence Association Inc.4/1/2013-0.5%(6.9%) – 5.7%; Varies by state
Family Life Insurance Company8/1/20139.0%Nevada
Health Net Life Insurance Company8/1/2013-2.8%California
Humana Insurance Company9/1 – 10/1/20133.6%0.0% – 9.7%; Varies by state
Liberty National Life Insurance Company1/1 – 7/1/20130.9%(14.5%) – 6.1%; Varies by state
Medico Insurance Company8/1/20136.9%0.0% – 6.9%; Varies by state
New Era Life Insurance Company9/1/20138.2%Texas
New Era Life Insurance Company of the Midwest9/1/20138.3%Texas
Philadelphia American Life Insurance Company8/1 – 9/1/20136.8%5.0% – 9.0%; Varies by state
Physicians Mutual Insurance Company6/1/20134.8%0.0% – 9.0%; Varies by state
Regence BlueCross BlueShield of Utah8/1/2013-1.3%Utah
Reserve National Insurance Company5/1 – 6/1/20136.5%3.8% – 16.3%; Varies by state
Royal Neighbors of America9/1/20132.8%(5.0%_ – 5.0%; Varies by state
Sterling Investors Life Insurance Company9/1/20137.0%Georgia
United American Insurance Company7/1/20130.7%California
United Commercial Travelers of America7/1/20139.5%Arizona
USAA Life Insurance Company4/1/201316.8%3.7% – 23.4%; Varies by state

About CSG Actuarial
CSG monitors senior markets to provide the most up-to-date competitive intelligence in the industry. CSG DataMart™ includes premium rate and underwriting information for more than 200 companies. Call 855-861-8776 or email [email protected] to learn more.