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US Fire may have been new to the Medicare market but they were backed by Crum & Forster, one of the most reputable p&c carriers in the country.I don't get the appeal of writing a no name carrier in the first place. When I was newer I would pick up the smaller ones but haven't we learned?
Any thoughts on whether or not Accendo will eventually raise it?
And probably more than a few are playing the shell game.The name brand carriers are reinsurance and/or acting in a TPA capacity.
Back in the 70's and 80's, when a group of investors wanted to start an insurance company they would simply buy the shell of an existing company. One that was inactive or dormant for some reason.
Aetna doesn't adjust rates when moving to a new state. The rate stays with the state the plan was written. I have a couple of clients move to FL and I can't move them bc their attained age rate is still much better than the issue aged rates in Fl. I'll get them eventually I think, lolI have a client who's husband has an Accendo medsup from Georgia, and the rate was never adjusted when they moved to Florida. As a result, his medsupp rate is well below the market rate for Florida. Any thoughts on whether or not Accendo will eventually raise it?
Aetna doesn't adjust rates when moving to a new state.
sweet. maybe when he's 70 or 71 I can write him with a local company :-)Accendo is now a closed book of business. Do you think that will impact renewal rates?
I rarely offer Aetna due to the fact they close blocks in a state about every 3 - 4 years. When that happens, closed block renewals often approach double digits within a few years.
Of course it will. I was just responding that Aetna/Accendo doesn't adjust rates when you move from one state or zip code to another like most other supplemental carriers.Accendo is now a closed book of business. Do you think that will impact renewal rates?
I rarely offer Aetna due to the fact they close blocks in a state about every 3 - 4 years. When that happens, closed block renewals often approach double digits within a few years.