MOO United World Rate Increase

[insurance0707]

Next year, medicare patients can get an annual wellness checkup with no deductibles or copays, it will be covered at 100%. Plan N might be a good option for people that don't doctor alot but still want to get an annual checkup with no deductible or 20 copay

 

[Frank Stastny]

So without the GI in my two states (KS and MO) the main advantage is the low premiums? I was hoping I could go back and write some of these folks stuck on a high rate plan with a few health problems.

In the states where MOO is not 100% GI, the only question on the app is the one dealing with ESRD. In all the years I have been selling Med Supps I think I have only run across three or four people who had that.

I consider, for all practical purposes, MOO "GI" in Missouri and Kansas as well in the other states.

 

[Yoda]

The story coming out of MOO is they have no intentions of allowing that "N" plan to become the home of every bad health case in the land. "A Number of Mechanisms" are in place to prevent that from happening is the story. They can and will if they have to shut that guaranteed issue down at any time.

 

[G.Gordon]

The story coming out of MOO is they have no intentions of allowing that "N" plan to become the home of every bad health case in the land. "A Number of Mechanisms" are in place to prevent that from happening is the story. They can and will if they have to shut that guaranteed issue down at any time.

For one, plan N is not a good deal for those with bad health so I'd doubt that they get flooded with "bad health cases" due to the nature of the plan's out of pocket expenses. Most, if not all, of my current plan N applications most likely could have passed regular underwriting. Those that I know to have some cronic conditions I won't even bother suggesting N.

 

[rphillips]

Where does one get information on long-term rate stability on Med Supp companies?

 

[Yoda]

Where does one get information on long-term rate stability on Med Supp companies?

We are still waiting for the first company to come along that does not get around to jacking the premiums through the roof.

 

[Superchief]

24% in most states HHHHAAAA! I knew it. Thats why even though they are usually the cheapest I try and steer clear of Mutual of Omaha. I would hate to get a phone call 3 yrs from now from a customer that now has an un insurable condition that is now stuck on this plan with 24% premium increases. Do some research and stop selling only on price. Initial price is important but its not the only factor especially with increases like this. We need to stop selling whatever flavor of the year med supp is the cheapest for that year just because it's the cheapest, we all know its only temporary. Companies like Woodman of the world/Assured life, or United Commercial travelers, etc... need to be reinsured just to get into the med sup market. Too many companies rely on low initial rates to gain market share knowing all to well that those low rates don't cover the actuall cost of insuring that block of business. It's predatory and it's not right. If your in arizona and you put any number of people on a united world MOO med sup plan you better hope you can go back and save those people because they are in for a world of hurt as that now isolated risk pool begins to shrink and become more expensive.


PPPHHHEeeww, thanks for listening... I needed to vent.

*yawn* Uninformed and tired is your story. This year we will likely see larger than normal rate increases from many companies, especially the leader in the Med Supp market. Thanks to the recession, lost jobs, etc many retirees lost their group coverage and ended up on med supps via the GI rules. With the enormous influx of business, comes claims hence rate increases.