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Adam, I was in the hospital a few months ago.  Now, I just got a letter from my Medicare Supplement company saying that premium is going to increase.  Will my premium go up every time I’m in the hospital?

For starters, I’m sorry that you had to stay in the hospital but I’m glad you had good insurance to cover you while you were there.  So, your hospital stay and your Medicare Supplement premium increase are not related.  In fact, it is illegal for a Medicare Supplement company to increase your premium based solely on your individual health record.  A person can have cancer, heart attack, and a stroke at the same time but their policy will not increase as a direct result.  On the flip side, your premium will not go down if you are exceedingly healthy.  The increase you saw on your premium is the same increase everyone else saw in the state with that same company and plan.  Most Medicare Supplement companies increase their rates annually and those increases are seen on the anniversary of the policy.  Companies increase rates for a number of reasons such as changes in Medicare payments, inflation, and abnormal claim amounts.

Now would be a good time to shop your Medicare Supplement policy because the rate is going up and as always Stockett and Associates would be more than happy to check the best rates available.