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This couple saved over $1200 on their Medicare Supplement

This couple saved over $1200 on their Medicare Supplement

D.R. Roberts was having Sunday brunch with friends when the topic of Medicare Supplement insurance came up. Two of his friends (husband & wife) had been insured with Blue Cross/Blue Shield since going on Medicare. The wife was 68 and the husband was 69. The combined premium for the two of them was $1,047 per quarter, and they were hoping to find less expensive coverage.

D.R. thought he could help, and initially quoted them with Oxford Life, since at the time it was the least expensive coverage on the market. Neither spouse was in the open enrollment period, so they'd need to go through underwriting. When he was doing a final review for the wife, D.R. discovered that she was a couple pounds outside the BMI requirement for Oxford, so he decided to go with Central States Indemnity (CSI) because they are a little more forgiving in regards to BMI.

He quoted a Plan G with CSI for her. The combined quarterly premium — with Oxford Life Plan F for the husband, and CSI Plan G for the wife — was $731.00. The savings or D.R.'s clients was $316 a quarter, or $1,264.00 per year.

Ten months later, the husband received a notice that his premium with Oxford Life was going up. In essence, it was an increase of almost 9%. At that point, he wanted to shop again. D.R. placed him with a Plan G with CSI Life (CSI's sister company) for an increased savings of $124 per quarter ($496 per year) over the proposed increase.

After one year, his clients are now saving $1,760 per year in health insurance premiums. The only additional exposure they have is the possibility of a once a year deductible of $147.00.

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