You know what really frosts my flakes?
Medicare supplemental insurance companies.
Apparently, once you turn a certain age, “fixed income” becomes code for “perfect target for surprise price hikes.”
I’ve got a supplemental plan through USAA. It’s a nice company with good reputation that has been around forever. You’d think that would come with a little stability.
Instead, I get a notice that my premium is going up 10 percent soon. Not next year. Not during the annual enrollment window, but next month.
Here’s the part that makes absolutely no sense.
If I want to make a change to my Medicare coverage, I get a very specific window from October 15 to December 7 every year. If I miss it, that’s it. The door is slammed and lights turned off. I’m told to come back next year.
But, if the insurance company wants to make a change? Apparently, they’ve got an open window 365 days a year.
They can raise rates whenever the mood strikes.
They don’t need your permission or your approval.
They barely need to give you notice.
It was less than 30 days’ notice, in my case.
Here’s the kicker. By the time they raise the rates, the enrollment window has been closed for four months.
So, even if I wanted to shop around and find something more affordable, I can’t. I’m locked in. It’s like I signed a contract that says, “You can’t leave, but we can charge you more whenever we feel like it.”
Can you imagine if other businesses worked this way?
You buy a car, and four months later the dealership sends you a note:
“Good news! Your monthly payment just went up 10 percent, but you can’t trade it in until November. Enjoy the ride.”
Nobody would tolerate that. But somehow, when it comes to healthcare, we’re supposed to nod politely and say, “Well, that’s just how the system works.”
No. That’s how it works for them.
Now, I understand costs go up. Healthcare isn’t getting cheaper. That’s fine. But, if I’m required to play by a strict calendar, they should be, too.
If companies want to raise rates, then do it during the enrollment window and give people a fair chance to respond.
Let them make a decision instead of backing them into a corner.
Because right now, the system feels less like healthcare planning and more like a game where one side has all the cards and the other side just keeps paying the table fees.
I’m Grandpa Grumpy, and if “fixed income” means anything, it shouldn’t be my options that are fixed while the prices float all over the place.
