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

[Fisher]

That answer was incomplete. Why wouldn't the UA bean counters want any more G or N business on the books for NM

That was not part of the question. The answer to the question you asked was complete.

 

[rousemark]

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?

The obvious answer is the loss ratio is higher than they want. The bottom line controls everything.

 

[LostDollar]

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.

That would just be a subset of a question like:

Why do the Plan G premiums for my zip code have a price range of $3K or more?

From my seat in the back of the auditorium, "That's just the way the different carriers choose to conduct their Medigap programs" and I have to learn how to work with it.

 

[dandan]

United American was the best back in the late 70's to mid 80's.

 

[Millwood]

Maybe their rates are actual rates. They don't have 30 blocks of business. They don't open a new block every 3 years.. They pay level commisions for life, not just 6 years.
All med supp company's have the same loss ratio so .......

 

[rousemark]

Maybe their rates are actual rates. They don't have 30 blocks of business. They don't open a new block every 3 years.. They pay level commisions for life, not just 6 years.
All med supp company's have the same loss ratio so .......

They don't have the same loss ratio but there is a minimum they must meet. The loss ratio could be greater than that due to differences on underwriting.

 

[rousemark]

I am amazed that nobody has said it is Trump's fault!

 

[Panda1]

I was with UA back in 2007, pretty good time ago. When I was there they're Medicare supplement plans were "issue age". Can't say anything about NM, but "issue Age " is generally higher than "attained age"

 

[AllThingsMedicare]

On UA and Med Supp topic, my 82 yo husband has had HDF from UA for over 5 yrs. Increases reasonable (they have in our zip in CA, loss ratio below 85%). This is his first year of his attained age policy of "No age increase 82+" and the premium went up more than EVER--over 17%
Tried asking if they "forgot" to Not Increase For Age based on lower than average loss ratio and could they check for me?
Crickets

 

[LostDollar]

On UA and Med Supp topic, my 82 yo husband has had HDF from UA for over 5 yrs. Increases reasonable (they have in our zip in CA, loss ratio below 85%). This is his first year of his attained age policy of "No age increase 82+" and the premium went up more than EVER--over 17%
Tried asking if they "forgot" to Not Increase For Age based on lower than average loss ratio and could they check for me?
Crickets

Caveat, NOT an agent.

I think I have seen agents posting about two different reasons Medigap plans can have premium increases.

Age change is one, I can't remember details of what the other one is.

Agents will have to comment for you with the other reason as a possible justification for the change.