Why are United American rates for Medicare Supplement Plan G and N so high?

[Garya505]

Why are United American rates for Medicare Supplement Plan G and N so high?
I'm only looking at my home state of NM but UA is almost twice the rate for the lowest-priced companies.

 

[Fisher]

Because the UA bean counters don't want any more G or N business on the books for NM.

 

[Garya505]

Because the UA bean counters don't want any more G or N business on the books for NM.

That was my guess, but why wouldn't they want any more G or N business? This would be mostly people turning 65 so it seems to me it would be good for the pool.

 

[somarco]

HDG is low risk business . . . they don't have to pay claims until $2800 or so.

 

[Garya505]

HDG is low risk business . . . they don't have to pay claims until $2800 or so.

I understand that about HDG, but my question was about G and N.

 

[somarco]

I understand that about HDG, but my question was about G and N.

Well, let's see . . . comparatively, G & N generate more claims to pay and they obviously would rather not be in the claim paying business.

 

[Garya505]

Well, let's see . . . comparatively, G & N generate more claims to pay and they obviously would rather not be in the claim paying business.

My question was not why rates for G and N are higher than HDG. That's kind of a no-brainer. My question was why would the rates for G and N from United American be almost twice the lowest price offered by other companies.

 

[Fisher]

My question was why would the rates for G and N from United American be almost twice the lowest price offered by other companies.

And it was answered. The fact that you don't like the answer does not make it untrue.

 

[Garya505]

And it was answered. The fact that you don't like the answer does not make it untrue.

That answer was incomplete. Why wouldn't the UA bean counters want any more G or N business on the books for NM, if other companies apparently do want it? Aren't they all selling to the same people?

 

[goillini52]

That answer was incomplete. Why wouldn't the UA bean counters want any more G or N business on the books for NM, if other companies apparently do want it? Aren't they all selling to the same people?

I was with UA back in the 90's. They had the lowest rates. After a few years they had the highest rates, and no longer competitive. Went to hell after Torchmark bought them.

If they don't want G and N business, they price it so high that no one will buy it.

UA is looking for gimmicks and profit.