State Laws

Jul 2, 2007

  1. deda15
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    deda15 New Member

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    Hi everyone,
    Am new to the forum. I work in the senior market, medicare supplements, long term care, final expense. Just moved to Kentucky from Missouri.

    Missouri has a law that allows med sup policyowners to change companies on their policy anniversary date, 30 days before the date and 30 days after, without having to answer health questions. This is tremendous for the policyowner, if rates get too high or they don't have an agent servicing them. They do have to show proof of coverage can only change like plans, example Plan F to Plan F. Whatever current plan is.

    As far as I know Missouri and I think one other state does this. I wrote my state representatives today, am starting campaign to get this in Kentucky. Of course I don't know what this will do to rates.

    Just wondering what others think about this.

    Deanna Carlisle
    www.greatrelationshipmarketing.com
     
    deda15, Jul 2, 2007
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  2. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    I don't like the idea of being able to switch without answering health questions. I don't see how they keep the rates down in Missouri. I hae heard that some companies won't approve products in that state because of that law.
     
  3. midwestbroker
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    midwestbroker Guru

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    Looking at Missouri vs. KS (I live on the KS side, Missouri is about 5 minutes away)

    United World Plan F in KS (certain zips) is $88.90 per mo
    In Missouri it's $140+

    So, you pay for that benefit, but at least you have that option if your rates go up.
     
  4. Frank Stastny
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    Frank Stastny Guru

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    I don't like it either, and you are right about some companies not moving into Missouri because of that law. For a number of years Continental Life stopped appointing agents in Missouri.

    It is probably the worst thing for seniors. It is only "good" for agents who go out looking for that business. All you have to do is look at the example Midwest posted.

    Agents dump very ill seniors in a company that tries to keep premiums down and pretty soon the company is forced to raise premiums.

    I wish they would repeal the law. It is the worst thing for seniors. California is the other state that has a similar law.
     
  5. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Just a meaningless tidbit here...The Cincinnati Airport is located about 20 miles inside Kentucky. Why? Because, there was no available space in the Metro-Cinncy area.

    Also...Tubby Smith is not really overweight (old Kentucky trivia)
     
  6. Frank Stastny
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    Frank Stastny Guru

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    Yes it was. :biggrin: You can add to that, a stopped clock shows the correct time twice a day. Your mother is the only sister of your uncle that isn't your aunt. One pint of beer has the protein value of three glasses of milk or two eggs. Or is it the other way around? :D
     
  7. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Well Frank...you sure did "show me."

    Bad play on words. Sorry.
     
  8. Frank Stastny
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    Frank Stastny Guru

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    I live in Missouri, I can't help it. :D

    However, that was some very interesting, meaningless information you posted.
     
  9. midwestbroker
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    midwestbroker Guru

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    Don't get me started with meaningless info...Like Donald Duck's middle name is Fauntleroy (I do trivia before my seminars to warm up the crowd).

    But back to the post...I would not petition that in Kentucky as they will have options to change carriers, but they will also see a sharp raise in their premiums.
     
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