Is Lincoln Heritage Suspending Medd Supp Sales ?

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I recieved this from the Londen Group today.

Date: February 25, 2010

Re: Medicare Supplement Products

In order for all Medicare Supplement insurers to sell Medigap policies past June 1, 2010 it is required by law for each company to file all materials in each state. Due to the current uncertainty in the marketplace concerning health care reform, we have decided not to refile our products at this time. Please note that we will continue to accept new Medicare Supplement applications with requested effective dates of May 31st or earlier and those applications must be signed prior to June 1, 2010.

As always, LH prides itself on top notch customer service for all of its lines of business. We will continue to provide such service to our existing Medicare Supplement policyholders and claims will continue to be paid through IAS as efficiently as always.

Please feel free to contact us with any questions you may have at 000-000-0000.
 
Thats surprising to me, with all the companies coming out with med-supps I didnt think I would see a company leave the market.
 
"Is Lincoln Heritage Suspending Medd Supp Sales ?".....


That's a definite yes, according to that letter. Being it's only 3 months and 3 days from June 1st, aren't they a little late in announcing it? If they were going to file, it should have already been done.

This entire "modernization" of med-supps and companies having to file with each states DOI is beginning to tick me off. Here in Florida I have zilch to offer T65's that are turning 65 in June. My main companies are MoO and AARP and neither company has been approved for the new modernization plans in Florida.

I emailed MoO the other day and they've heard nothing from the FL. DOI.
 
That sure is a strange interpretation from that carrier as to the direction of the health market! (See the videos on my website).

The President has clearly said that he is determined to eliminate subsidies for (thus eliminating entirely..) Medicare Advantage programs. He wants everyone to come back to original Medicare. (Underlying message that they will NEED Medicare supplements to pay all of the bills).

With the PFFS plans seeing the writing on the wall and bailing out at the end of last year - all experts agree that this was going to start a boom for Medicare supplement providers, and it has.


What a strange time to leave this Med Supp market!


 
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Out of touch!

If this is their reason for leaving, then they should exit! :twitchy:

My latest prediction is the REINSURANCE EXODUS.



This should be number eleven on Ritter's list of 2010 Predictions! :biggrin:
 
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Or maybe they know something that you don't.

Maybe they want to come out later in the year with much lower rates, they are pretty much the cheapest in maryland and have been for a little while.

I am sure they will be destroyed that you guys dont approve of their decisionafter all you do have a video on your website, If they only had a link.

Something tells me they have a plan.
 
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Well Harry, I was very surprised to hear that LH was actually one of the lowest price med supps there, or any state for that matter.

I guess you'll have to start pushing Gerber's med supps soon, eh?
 
Well Harry, I was very surprised to hear that LH was actually one of the lowest price med supps there, or any state for that matter.

I guess you'll have to start pushing Gerber's med supps soon, eh?

To be honest Gerber is really only cheaper for people over 85. Family life and Standard life (& 1 or 2 others) are both cheaper for all other ages even with 2010's rate increases.
 
To be honest Gerber is really only cheaper for people over 85. Family life and Standard life (& 1 or 2 others) are both cheaper for all other ages even with 2010's rate increases.

They can't be that much cheaper. LH is only $4 cheaper than Gerber's plan F on a 65 YO female. So I guess you're saying that those 2-4 companies fall in the middle of that $4?
 

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