KimPMG
Expert
[FONT='Verdana','sans-serif']Just got the notice, I hope the link works. If not email me an I'll send you a copy of the announcement View Details. [email protected][/FONT]
Mutual of Omaha Plan N Discontinued in All States!
- Thread starter KimPMG
- Start date
- Staff
- #2
04/13/11 SALES AND MARKETING
For more than 45 years, Mutual of Omaha has been committed to providing you competitive Medicare supplement plans to offer your clients and keep you in the market. We continuously monitor the business and respond as quickly as possible for you.
Therefore, after careful consideration, we will no longer market Plan N (or equivalent) in ALL STATES effective April 22nd. Please be aware of the following: Applications for Plan N must be signed on or before April 22, 2011 and received in the home office no later than May 6, 2011. Application packets – applications and outlines of coverage – marketing materials, etc. are being updated. Please continue to use the current materials until we notify you the new items are available. (See below for approved materials). Your existing Plan N clients may keep their policy or replace it anytime with another Medicare supplement we offer in the state. Normal conversion and underwriting rules apply.
Marketing Materials:
Outlines: ALL Medicare supplement outlines in the states where the Plan N was marketed have been filed with changes in the state and are pending approval. The outlines in the following states have been approved and are updated in the application books. In these states you may order new application books with Print Date 4/13/11. You will be notified as additional outlines approve.
Approved Outline Changes Company State
Mutual
ME, NE
United World
AL, SD
United of Omaha
GA, IA, LA, ME, MI, MS, NE, NJ, OK, SD
Brochures: There has been a modification to all brochures for the Medicare supplement product in the states where the Plan N was marketed. The modified color brochures are available to order and the black and white versions in the application books are updated. Until the outline for your state is approved it is advisable to limit the number of application books you order. You may supplement your current stock of application books with the color brochure or download the black and white version from SPA (Forms and Materials) Redirect.
Application Books: Until the outline for your state is approved it is advisable to limit the number of application books ordered.
Underwriting Guide: The underwriting guides have been updated to reflect this change. Current guides are United of Omaha- U7700_0411 and Mutual and United World- M26589_0411.
Thank You for Your Business
You, your clients and the senior market are our priority and we take seriously our commitment to you and our policyholders.
Please contact us if you have any questions at (800) 693-6083.
For more than 45 years, Mutual of Omaha has been committed to providing you competitive Medicare supplement plans to offer your clients and keep you in the market. We continuously monitor the business and respond as quickly as possible for you.
Therefore, after careful consideration, we will no longer market Plan N (or equivalent) in ALL STATES effective April 22nd. Please be aware of the following: Applications for Plan N must be signed on or before April 22, 2011 and received in the home office no later than May 6, 2011. Application packets – applications and outlines of coverage – marketing materials, etc. are being updated. Please continue to use the current materials until we notify you the new items are available. (See below for approved materials). Your existing Plan N clients may keep their policy or replace it anytime with another Medicare supplement we offer in the state. Normal conversion and underwriting rules apply.
Marketing Materials:
Outlines: ALL Medicare supplement outlines in the states where the Plan N was marketed have been filed with changes in the state and are pending approval. The outlines in the following states have been approved and are updated in the application books. In these states you may order new application books with Print Date 4/13/11. You will be notified as additional outlines approve.
Approved Outline Changes Company State
Mutual
ME, NE
United World
AL, SD
United of Omaha
GA, IA, LA, ME, MI, MS, NE, NJ, OK, SD
Brochures: There has been a modification to all brochures for the Medicare supplement product in the states where the Plan N was marketed. The modified color brochures are available to order and the black and white versions in the application books are updated. Until the outline for your state is approved it is advisable to limit the number of application books you order. You may supplement your current stock of application books with the color brochure or download the black and white version from SPA (Forms and Materials) Redirect.
Application Books: Until the outline for your state is approved it is advisable to limit the number of application books ordered.
Underwriting Guide: The underwriting guides have been updated to reflect this change. Current guides are United of Omaha- U7700_0411 and Mutual and United World- M26589_0411.
Thank You for Your Business
You, your clients and the senior market are our priority and we take seriously our commitment to you and our policyholders.
Please contact us if you have any questions at (800) 693-6083.
- Thread starter
- #3
KimPMG
Expert
I stand corrected, thanks! Didn't know I could paste it all in here.
- 147
Is this really a surprise...? Mutual of Omaha's Plan N was being openly marketed as 'Guarantee Issue'!
No company with competitive rates can sustain that for any significant period of time! It was a great tool to have in the briefcase, and was great while it lasted, but it certainly was only a matter of time before it was taken off of the shelf!
No company with competitive rates can sustain that for any significant period of time! It was a great tool to have in the briefcase, and was great while it lasted, but it certainly was only a matter of time before it was taken off of the shelf!
Changing the underwriting is one thing, removing it from the line up is another. And I'll have to admit I don't understand why. Like others have said, make it a fully underwritten plan like all others and it'll be fine.
I just had a older couple issued a plan N for 5/1/11. Based on this news I've already advised them to change that decision to plan D. They were on plan J so they are guaranteed any plan UOO sells in Missouri. N was a great value for them, I got them from a MAPD so they were used to some out of pocket, etc., but with this news it makes me nervous for the plan N market.
I just had a older couple issued a plan N for 5/1/11. Based on this news I've already advised them to change that decision to plan D. They were on plan J so they are guaranteed any plan UOO sells in Missouri. N was a great value for them, I got them from a MAPD so they were used to some out of pocket, etc., but with this news it makes me nervous for the plan N market.
- 16,877
Here is my theory.
They KNOW they are getting ready to make their Plan N policyholder mad through rate increases. They see no need to add additional people that can qualify for one of their other plans to the group that is going to be mad. The mad group can't leave unless they go to Medicare Advantage. Just a hunch.
You may be correct.
- 7,066
Not really, they can leave, all they have to do is answer the health questions. Not all seniors have one foot in the grave.
G
Guest
Guest
I'm glad its gone and I'm glad I didn't write anyone on it, it never made much sense to me to put anyone on this.
