What is a fundamental feature of Medicare Supplement (Medigap) policies in terms of premium changes?

The fundamental feature of Medicare Supplement (Medigap) policies regarding premium changes is that premiums can only increase with proper notification. This aligns with regulations governing Medigap policies, which are designed to protect consumers by ensuring that they are informed about any changes in their premium costs.

Insurance companies must provide policyholders with advance notice of any premium increases, typically through written communication, which allows consumers to understand upcoming costs and decide whether they want to continue with their current plan. This consumer protection mechanism is crucial because many people on Medicare rely on these policies to cover gaps in their coverage, and unexpected costs can significantly impact their financial planning.

It’s important to understand that premiums do not remain fixed or unchangeable; they may fluctuate based on various factors, including the insurer's overall claims experience or changes in the market. However, companies are required to adhere to transparency regarding such changes, thus enhancing trust and consumer protection within the Medicare Supplement landscape.