Mutual of Omaha Rate Increase Hits 10%

Like most everything else in health insurance, trends are regional.

Exceptionally high in GA. Only offer three plans (A, F and N) and tend to lose applications. Rates are on the high side, at least $40/mo higher than my usual carriers. Higher than UHC and OIC (plan F).

Haven't sold a Blue Medigap in years.
 
Maalox, you must work for CSG. Your calculations are the way they do it, which is completely useless.

If it will make you feel better, I can provide rate increases on United World and United of Omaha as well. That way you can understand what the Omaha carriers are doing to their policyholders.

It isn't a pretty sight.

I look forward to your math .....
 
Sept 2012 - 12% for United of Omaha new and in force
Express » Blog Archive » United of Omaha September Rate Release

United of Omaha- 2010 Modernized Plans
Effective September 1, 2012 on new business and October 1, 2012 on in force business for United of Omaha 2010 Modernized Medicare supplement (Policies effective on or after June 1, 2010) in Georgia, Iowaand Oklahoma, the following rate adjustments by plan will be effective.
United of Omaha 2010 Modernized Plans
New and In force Business
State
Rate Adjustment
Plan A
Plan F
Plan G
Plan M
GA
0%
12%
12%
7%


Dec 2012 - 12% for United of Omaha issued prior to June 2010
Express » Blog Archive » Rate Adjustments

United of Omaha- 1990 Standardized Plans
Effective December 1, 2012 on in force business only for United of Omaha 1990 Standardized supplement (Policies effective prior to June 1, 2010) in Georgia, the following rate adjustments by plan will be effective:
United of Omaha 1990 Standardized Plans
In force only
State
Rate Adjustment
Plan A
Plan F
Plan G
GA
0%
12%
12%







July 2013 - 6% for Mutual of Omaha
http://blogs.mutualofomaha.com/expr...0.13-2013-Standardized-Rate-Adjustment_BR.pdf
Mutual of Omaha Effective August 1, 2013 on in force business for Mutual of Omaha Medicare supplement plans and July 1, 2013 for Medicare SELECT plans in Georgia: Mutual of Omaha 1990 Standardized Plans In force Business Only State Rate Adjustment Plan A* Plan B Plan C Plan D Plan E Plan F Plan G Plan I GA- supp 6% N/A 6% 6% N/A 0% 0% 0% GA- SELECT 6% 6% 6% 6% 6% 6% N/A *Georgia Plan A effective 8/1/13




August 2013 - 6% for United World
http://blogs.mutualofomaha.com/express/files/2013/05/5.15.13-2013-UW-Rate-Adjustments_BR.pdf

United World- 1990 Standardized Plans (Policies effective prior to June 1, 2010) Effective as indicated on in force business in Georgia and North Dakota, the following rate adjustments by plan will be effective: United World 1990 Standardized Plans State Rate Adjustment Effective Date Plan A Plan B Plan C Plan D Plan F Plan G GA 8/1/13 6% 6% N/A N/A 6% 6%


September 2013 - 8% for United of Omaha for new plans
October 2013 - 8% for United of Omaha for in force plans
http://blogs.mutualofomaha.com/express/files/2013/07/7.10.13-2013-Sept-Rate-Adjustment_BR_M.pdf
United of Omaha Effective September 1, 2013 on new and October 1, 2013 on in force business in Georgia, the following rate adjustments by plan will be effective: United of Omaha 2010 Modernized Plans State Rate Adjustment Plan A Plan F Plan G Plan M GA 8% 8% 8% 8%


October 2013 - 15% for United of Omaha plan N
Express » Blog Archive » September Rate Release- Georgia

Effective October 1, 2013 on United of Omaha Medicare supplement Plan N in force business in Georgia:
United of Omaha 2010 Modernized Plans
In force only
State
Rate Adjustment
Plan N
GA
15%


December 2013 - 8% for in force United of Omaha
http://blogs.mutualofomaha.com/express/files/2013/09/9.11.13-2013-Rate-Adjustments_BR_GA.pdf
United of Omaha Effective December 1, 2013 on in force business in Georgia, the following rate adjustments by plan will be effective: United of Omaha 1990 Standardized Plans In force only State Rate Adjustment Plan A Plan F Plan G GA 8% 8% 8%


October 2014 - 9.9% United of Omaha plan N
Express » Blog Archive » Plan N Rate Adjustment- Georgia
The following rate adjustment is effective 10/1/14 on Medicare supplement in-force business as indicated
Plan N Rate Adjustments Only:
State
Company
Plan N
Georgia
United
9.9%


August 2015 - 6% Omaha Insurance Company new and inforce
Express » Blog Archive » August Rate Release

The following rate adjustments are effective August 1, 2015 for Omaha Insurance Company new and in-force 2010 Modernized Medicare supplement in Georgia and Oklahoma.
Omaha Insurance Company 2010 Modernized
State
Rate Adjustment
Plan A
Plan F
Plan G
Georgia
6%
6%
0%


October 2015 - 9% in force United of Omaha plus 12% plan N
http://blogs.mutualofomaha.com/express/files/2015/07/07.08.15-In-force-Only_BR_rev.pdf
2010 Modernized Rate Adjustment The following rate adjustments are effective October 1, 2015 for United of Omaha Med supp in-force business only in Georgia. 2010 Modernized Rate Adjustment In-force Only State Rate Adjustment Plan A Plan F Plan G Plan M Plan N Georgia 9% 9% 9% 9% 12%
 
Dumb question.

If I turn in apps in June for Sept effective dates do they get the new rate or old rate for the first 12 months?

I have four in the mail right now.

thks
 
Sept 2012 - 12% for United of Omaha new and in force
Express » Blog Archive » United of Omaha September Rate Release

United of Omaha- 2010 Modernized Plans
Effective September 1, 2012 on new business and October 1, 2012 on in force business for United of Omaha 2010 Modernized Medicare supplement (Policies effective on or after June 1, 2010) in Georgia, Iowaand Oklahoma, the following rate adjustments by plan will be effective.
United of Omaha 2010 Modernized Plans
New and In force Business
State
Rate Adjustment
Plan A
Plan F
Plan G
Plan M
GA
0%
12%
12%
7%


Dec 2012 - 12% for United of Omaha issued prior to June 2010
Express » Blog Archive » Rate Adjustments

United of Omaha- 1990 Standardized Plans
Effective December 1, 2012 on in force business only for United of Omaha 1990 Standardized supplement (Policies effective prior to June 1, 2010) in Georgia, the following rate adjustments by plan will be effective:
United of Omaha 1990 Standardized Plans
In force only
State
Rate Adjustment
Plan A
Plan F
Plan G
GA
0%
12%
12%







July 2013 - 6% for Mutual of Omaha
http://blogs.mutualofomaha.com/expr...0.13-2013-Standardized-Rate-Adjustment_BR.pdf
Mutual of Omaha Effective August 1, 2013 on in force business for Mutual of Omaha Medicare supplement plans and July 1, 2013 for Medicare SELECT plans in Georgia: Mutual of Omaha 1990 Standardized Plans In force Business Only State Rate Adjustment Plan A* Plan B Plan C Plan D Plan E Plan F Plan G Plan I GA- supp 6% N/A 6% 6% N/A 0% 0% 0% GA- SELECT 6% 6% 6% 6% 6% 6% N/A *Georgia Plan A effective 8/1/13




August 2013 - 6% for United World
http://blogs.mutualofomaha.com/express/files/2013/05/5.15.13-2013-UW-Rate-Adjustments_BR.pdf

United World- 1990 Standardized Plans (Policies effective prior to June 1, 2010) Effective as indicated on in force business in Georgia and North Dakota, the following rate adjustments by plan will be effective: United World 1990 Standardized Plans State Rate Adjustment Effective Date Plan A Plan B Plan C Plan D Plan F Plan G GA 8/1/13 6% 6% N/A N/A 6% 6%


September 2013 - 8% for United of Omaha for new plans
October 2013 - 8% for United of Omaha for in force plans
http://blogs.mutualofomaha.com/express/files/2013/07/7.10.13-2013-Sept-Rate-Adjustment_BR_M.pdf
United of Omaha Effective September 1, 2013 on new and October 1, 2013 on in force business in Georgia, the following rate adjustments by plan will be effective: United of Omaha 2010 Modernized Plans State Rate Adjustment Plan A Plan F Plan G Plan M GA 8% 8% 8% 8%


October 2013 - 15% for United of Omaha plan N
Express » Blog Archive » September Rate Release- Georgia

Effective October 1, 2013 on United of Omaha Medicare supplement Plan N in force business in Georgia:
United of Omaha 2010 Modernized Plans
In force only
State
Rate Adjustment
Plan N
GA
15%


December 2013 - 8% for in force United of Omaha
http://blogs.mutualofomaha.com/express/files/2013/09/9.11.13-2013-Rate-Adjustments_BR_GA.pdf
United of Omaha Effective December 1, 2013 on in force business in Georgia, the following rate adjustments by plan will be effective: United of Omaha 1990 Standardized Plans In force only State Rate Adjustment Plan A Plan F Plan G GA 8% 8% 8%


October 2014 - 9.9% United of Omaha plan N
Express » Blog Archive » Plan N Rate Adjustment- Georgia
The following rate adjustment is effective 10/1/14 on Medicare supplement in-force business as indicated
Plan N Rate Adjustments Only:
State
Company
Plan N
Georgia
United
9.9%


August 2015 - 6% Omaha Insurance Company new and inforce
Express » Blog Archive » August Rate Release

The following rate adjustments are effective August 1, 2015 for Omaha Insurance Company new and in-force 2010 Modernized Medicare supplement in Georgia and Oklahoma.
Omaha Insurance Company 2010 Modernized
State
Rate Adjustment
Plan A
Plan F
Plan G
Georgia
6%
6%
0%


October 2015 - 9% in force United of Omaha plus 12% plan N
http://blogs.mutualofomaha.com/express/files/2015/07/07.08.15-In-force-Only_BR_rev.pdf
2010 Modernized Rate Adjustment The following rate adjustments are effective October 1, 2015 for United of Omaha Med supp in-force business only in Georgia. 2010 Modernized Rate Adjustment In-force Only State Rate Adjustment Plan A Plan F Plan G Plan M Plan N Georgia 9% 9% 9% 9% 12%


So here is actual real rate increase info for the Mutual of Omaha companies in GA for Plan F



United of Omaha 1990 plans
12/1/12 12%
12/1/13 8%
12/1/14 0%
12/1/15 0%
12/1/16 0%

United of Omaha 2010 plans
9/12/12 12%
9/1/13 8%
9/1/14 0%
9/1/15 9%
9/1/16 ??

Mutual of Omaha 1990
8/1/12 0%
8/1/13 6%
8/1/14 0%
8/1/15 0%
8/1/16 ??

United World 1990
8/1/12 0%
8/1/13 6%
8/1/14 0%
8/1/15 0%
8/1/16 ??

Omaha Insurance Co
8/1/14 -5%
8/1/15 8%
8/1/16 9%

Now the clients will get an increase every year as they get older.

The interesting thing is how rate stable the closed blocks of business are.

Most agents assume the older blocks will death spiral but that usually only happens with very small blocks of business.
 
Not sure about some of those rate increases Maalox posted. I just looked at I guy a wrote in 2007 with United World. He still has his Plan F with them (I've attempted to get him to change, but he's one of those who just doesn't want to change). He was 65. Coverage was effective 04/01/2007. His quarterly rate at the time was $347.73. His rate in December 2015 went to $763.85. That's nearly 120% over 9 years. He's had a rate increase every year.
 
I get more calls from MOO Medigap clients than anyone else about their rate increase. Unfortunately, most of them can't be moved.

Whatever Maalox is smoking, I want some.
 
I just want to thank you all for discussing this, in this thread and elsewhere in the forum.

I did my own research on the Mutual of Omaha site regarding rate increases, and have read many posts about this business practice, and I'm so glad I know the real story about Mutual of Omaha companies and the shell game they play.

In fact, I have reams of data to back up the opinions of SoMarco and Sman going back to 2010. Every senior I meet gets the shell game talk, and I know they appreciate it. Even if rates are similar now, I focus on the long term.

I saved a 71 year old non-smoker over $1600.00 a year to move from a Mutual of Omaha Plan F to an Aetna Plan G in New Mexico. If what that MofO does is 'just business' then I'm the one crusader to move their business elsewhere.

**Seniors all cheer in the background**and wave their canes**
 
Back
Top