The American Retirement Advisor
Retirement should feel like freedom, not a puzzle. The American Retirement Advisor is your daily dose of straight talk on the three decisions that shape every retirement: your healthcare, your income, and your inheritance plan.
Each episode is a short, focused read of our latest article, drawn from real conversations with real families at American Retirement Advisors in Scottsdale, Arizona. No jargon. No sales pitch. Just the kind of advice you'd want from a trusted friend who happens to do this for a living.
Hosted by Ian Schaeffer, author of Medicare Made 123Easy, COO of ARA, and founder of 123Easy Studios. Articles read by Betty.
American Retirement Advisors has served over 14,900 families since 2001. Featured in Forbes, a 4-time America's Select Financial Advisors honoree, a 3-time Inc. 500, and a Nextdoor Neighborhood Favorite.
New episodes daily. Subscribe so you never miss one.
Read the full articles at https://news.americanretirementadvisors.com/
The American Retirement Advisor
The Hidden Cost of Medicare Plan Loyalty
Use Left/Right to seek, Home/End to jump to start or end. Hold shift to jump forward or backward.
Your Medicare supplement premium went up. Before you just pay it, do the math on what loyalty is really costing you.
Read the full article: https://news.americanretirementadvisors.com/hidden-cost-medicare-plan-loyalty/
American Retirement Advisors helps families in Arizona and Nevada navigate healthcare, retirement income, and inheritance planning. Want to reach out? Text us at (602) 975-0372, email support@americanretire.com, or visit https://americanretirementadvisors.com.
Welcome to the American Retirement Advisor, coming to you from One to Three Z Studios. Real stories, real strategies, and straight talk about healthcare, retirement income, and inheritance planning. I'm Ian Schaefer, joined with Eddie and Betty. Let's get into it.
SPEAKER_02One of our advisors sat down with a client last month who'd been paying into the same Medicare supplement for nearly a decade. Good coverage, no complaints about the plan itself, but the premium had crept up year after year, and the latest increase was hard to ignore. I've thought about switching, the client said, but I get a gym membership through my plan, and I don't want to lose that. The math, however, told a different story.
SPEAKER_01When we ran the numbers, that gym perk was effectively costing this client well over$100 a month in premium difference compared to similar plans from other carriers. A standalone senior gym membership? Around$25 to$50 a month at most. The math wasn't even close. Medicare supplement premiums aren't locked in. Your carrier can raise rates, and they do, driven by factors like medical inflation and rising healthcare utilization across an aging insured population. Most people respond the same way this client almost did. They notice the increase, they wince, and they keep paying.
SPEAKER_02You picked this plan for a reason. It's been reliable, and switching can feel uncertain, especially if your health has changed since you first enrolled. That concern about medical underwriting, where a carrier reviews your health history and can decline you based on new conditions, is one of the biggest reasons people stay put, even when the numbers no longer make sense.
SPEAKER_01But here's what changes the equation. Medigap plans are standardized by the federal government. A plan G from one carrier covers exactly the same things as a plan G from another carrier. The only real difference is the premium. That's worth sitting with for a moment. We've had clients save meaningful money by simply switching carriers on the same plan letter. One client recently moved to a different plan with a different carrier and cut their monthly cost significantly. Another had been with the same company for years, got hit with a major rate increase, and switched to a new plan at a much lower premium. Same coverage, lower cost, no gap in protection.
SPEAKER_02And this is the part most people miss. Switching rules depend on your state and your situation. In many cases, you will need to go through medical underwriting, which means answering health questions and potentially being declined if you have certain conditions. That's a real consideration, not something to brush past.
SPEAKER_01Some states offer guaranteed issue windows that let you switch with no health questions at all. In Nevada, for example, certain windows allow for easier transitions, but because rules vary significantly by state, you must verify your specific eligibility. Arizona has more limited guaranteed issue protections after your initial Medigap open enrollment period, making timing and health status even more important. This is exactly why it's worth sitting down with someone who knows the details for your state and situation.
SPEAKER_02If a wellness perk is part of why you're staying with a more expensive plan, run the numbers. A senior fitness membership through a local gym or community center typically costs$25 to$50 a month. If switching carriers saves you$75 or more each month, you come out ahead and you still get your gym time. Don't let a perk keep you in a plan that's overcharging you.
SPEAKER_01Pull out your latest Medicare supplement statement and note your current monthly premium. Check what you were paying a year ago and two years ago if you still have records. Compare quotes on your current plan letter from at least two other carriers. You can work with a certified Medicare planner like the team at American Retirement Advisors for a no-cost comparison. If the numbers look better elsewhere, ask about your guaranteed issue options and any medical underwriting requirements before making a move.
SPEAKER_02No pressure, no pitch. They'll run the numbers with you and see if there's a better fit.
SPEAKER_01A quick note before we wrap up: today's episode covers financial topics for educational purposes only. American Retirement Advisors does not provide tax or legal advice. Please consult a CPA or tax professional before making any decisions based on what you heard today.
SPEAKER_02This is Betty with the American Retirement Advisor. Thanks for listening. If this episode helped you think differently about your retirement, share it with someone who needs to hear it. You can read the full article and browse hundreds more at AmericanRetire.com. And be sure to subscribe so you never miss an episode. We publish daily. See you next time.
SPEAKER_00Thanks, Eddie. Thanks, Betty. Until next time, this is Ian Schaefer coming to you from 123 Easy Studios. I hope you've enjoyed this recording of the American Retirement Advisor, where we make healthcare, income, and inherence planning 223 Easy.
