Med Supp Rate Increases........

[agentjhc]

I'll use OIC as example. Person A buys OIC plan in April 2016. Rate locked for 1 year ? June 2016 rates go up 9% on enforce bit Person A exempt. May 2017, does A's rate jump 9% or are they exempt until the next rate increase?

 

[somarco]

Increases 9% + any other increase effective prior to renewal.

Right now your OIC client has a baked in 9% increase for April 2017. Might be more. Won't be less.

 

[agentjhc]

Increases 9% + any other increase effective prior to renewal. Right now your OIC client has a baked in 9% increase for April 2017. Might be more. Won't be less.

Same for all companies? New Era, Equitable, etc I assume ?

 

[somarco]

Yup, unless the increase is just on new apps. Usually don't see that. They always nail existing policyholders as much as they can.