- 11,280
OK.
United World Rate Increases
- Thread starter Newby
- Start date
- 1,255
Just found out that UW filed on March 26th another rate increase and is pending approval. Rumor is that it is another double digit % increase. This comes on the heals of their January '08 rate increase. This is very disturbing. Every 6 months they are increasing and they are phasing-out UW in favor of United of Omaha. Were does this leave existing UW clients?
The Mutual of Omaha MedSupp followed a similar pattern and it cost me a lot of renewals. This is just another example of past performance is a good indicator of future renewals.
I just canceled a UW MedSupp appointment today and will regroup with a different MedSupp ASAP!
The Mutual of Omaha MedSupp followed a similar pattern and it cost me a lot of renewals. This is just another example of past performance is a good indicator of future renewals.
I just canceled a UW MedSupp appointment today and will regroup with a different MedSupp ASAP!
- 184
Are they going to have an increases here in NC?
- 1,704
We all knew that the MA enrollments would affect mkt share for the med supp co's and woo away many of their existing clients.
What i'm noticing with MOO is how they keep shifting their medicare block between different companies. Obviously to intro low ball rates and then escalate after a few years. Each time they intro a new block, commissions are lower plus they don't pay on the deductibles of Plan C & F. So your net is even lower.
We need to concern ourselves with the history of rate increases with the companies we do recommend...unless you want to re-write every year. Then you may get your contract cancelled permanently by these co's because of replacement. Get it?
What i'm noticing with MOO is how they keep shifting their medicare block between different companies. Obviously to intro low ball rates and then escalate after a few years. Each time they intro a new block, commissions are lower plus they don't pay on the deductibles of Plan C & F. So your net is even lower.
We need to concern ourselves with the history of rate increases with the companies we do recommend...unless you want to re-write every year. Then you may get your contract cancelled permanently by these co's because of replacement. Get it?
- 15,319
We have a benefit in California in that our clients can move from one Medicare carrier to another on a guaranteed issue basis once a year.
If I have a client who was paying $154 with MoO and gets a rate increase to 168, do I have a duty to advise them to move to Lincoln Heritage for $145? If I don't tell them and another agent does, I not only lose a client, but lose credibility.
Future rate increases are not an issue here because of the guarantee issue provision of the law. What would you do?
Rick
- 1,704
Well we're stuck in Ga because client has to undergo new underwriting moving from co to another co. I'm rather envious hearing that.
And unless things have changed, many agents lose their contract with a company because they were replacing existing business. So they keep track of that .
But i'm not going to worry..FYC is where it's at. Renewals are a surprise.
And unless things have changed, many agents lose their contract with a company because they were replacing existing business. So they keep track of that .
But i'm not going to worry..FYC is where it's at. Renewals are a surprise.
- 11,280
My FYC is the same as my renewal.
- 1,704
My FYC is the same as my renewal
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Hmmm...in your case, which came first?
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Hmmm...in your case, which came first?
- 15,319
