Update on Under 65 Med Supps in Georgia

[sman]

I got this email today regarding the under 65 Med Supps that will now be available in Georgia beginning 11/01/2010 due to recent legislation that was passed by Georgia's General Assembly. The information below is from Mutual of Omaha:

[FONT=&quot]We will not be releasing rates any sooner than mandated. So for Georgia, updated outlines will probably be available the week of Oct 27, 2010. TN will be Dec 29, 2010. There will be a 6-month Open Enrollment window mandated in both states - GA= Nov 1, 2010 - Apr 30, 2011 / TN = Jan 1, 2011 - Jun 30, 2011.[/FONT][FONT=&quot]Rates have not been filed yet, but talking to the Actuaries, it appears that the rates will be approx 2.5 - 3 times the rates for age 65.[/FONT]

As I stated in my previous post, I suspected rates would likely be higher. Now we have an idea of just how much higher.

 

[somarco]

That's quite a jump. Of course I am sure the GA General Assembly expected that . . .

 

[G.Gordon]

That's just one carrier. Some carriers don't want "any" under 65 biz. In Missouri they are required to offer supps to all beneficiaries, but there is no mandate on price. The carriers that don't want the biz jack their rates up like that. Others like MOO and several others are 10-25% more than T65 rates. Kansas requires carriers to offer DI supplements at the same rate T65'ers get.

 

[sman]

Of course they did (NOT). How long until they are "outraged" that very few people will be able to afford coverage?

That's quite a jump. Of course I am sure the GA General Assembly expected that . . .

 

[DS4]

. The carriers that don't want the biz jack their rates up like that.

Here in California, Plan F, under 65, with Blue Shield of Ca is $664/mo.
Still haven't sold one.
Too many other carriers $400+/month lower.