Texas Medigap Plans – Mutual of Omaha

As of April 2013, Texas Medigap Plans offered by Omaha Insurance Company have been available.  These are offered under the Mutual of Omaha group name and provide different benefits that many purchasers find attractive.

  1. Competitive Texas Medigap Plans – the Plan G’s rates are extremely competitive.  To view Plan G Rates visit our Medigap Quote Engine.
  2. Texas Medigap Plans provided anniversary rating.  This means that only one rate adjustment per year can be made.
Texas Medigap Plans - Anniversary Rating

Anniversary Rating on Texas Medicare Supplements

  1. Future Rate adjustments must be kept with market trend.
  2. Omaha Insurance Company offers household discounts which apply when two people living in the same household both have a Medicare Supplement policy with Mutual of Omaha.

Texas Medigap Plans

A few other things good not just with Omaha Insurance Company but any company in the state of Texas are:

  • There are no gender rates.  This means that male and females pay the same rate.
  • There are no rate ups on Texas Medigap Plans. In a nutshell, some carriers give rate-ups for different things such as high Body Mass Measurement Indexes (not being evenly proportioned).  This is not allowed in the state of Texas.
  • Guaranteed Issue Rights for Medicaid

What to know when comparing Medicare Supplements?

You will find us pretty consistent with this throughout our website but in a nutshell there are several things that you must do before purchasing a Medicare Supplement policy:

  1. Compare rates – Medicare Insurance Finders provides a great Medicare Supplement Quote Engine that can help you compare these plans.
  2. View the company’s financial credibility – make sure it is a secure rated company with AM BEST.
  3. Make sure to use an agent/financial advisor who understands the Medicare Supplement market and offers more than one insurance company.  Rates will increase – that is a fact.  If your agent has other companies he can help to make sure you are not overpaying for your policy.   If not you may get stuck with a plan that is overpriced!

Contact Medicare Insurance Finders today for a free Medicare analysis – Medicare Supplement and Medicare Part D! 1-877-936-2991!

 

American Continental and Continental Life Rate Decrease

Aetna Health and Life, American Continental and Continental Life Rates will be discounted for household rates effective July 15, 2013. The discount applies to both new business and existing policy holders. Policies that have an effective prior to June 1, 2010 are not eligible for the discount.

American Continental and Continental Life Rates – State that are Eligible

The American Continental and Continental Life rate decrease will be based upon the applicant’s state of residence. The eligible states are Georgia, Iowa, Illinois, Louisiana, Mississippi, Nebraska and Texas.

American Continental and Continental Life Rates

Aetna has now become a large player in the Medicare market and is expected to see much growth in the coming years.

The American Continental and Continental Life rate decrease discount of 5% will apply when two Medicare Supplement applicants reside in the same household and both policies are issued in the same state by the same underwriting company.

Eligibility guidelines for applicants who apply for the American Continental and Continental Life rate decrease must meet one of the following criteria:

  • Married
  • Domestic partners(civil union or partnership)*state guidelines*
  • Individuals who reside at the same residence for the last twelve months and must be a continuous 12 months

If the spouse becomes Medicare eligible at a later date, the American Continental and Continental Life rate decrease discount will apply on the effective date of the newly issued policy and on future premiums of the existing policy holder.

  • One discount per household.
  • No additional discounts if there is a third policy holder in the household.
  • Both policies must remain in force for the 30-day free look period. The discount will remain if one policyholder expires or terminates coverage after the free look period.

The application must include the existing policy holder’s information. The new application form has been revised as a dual application, which allows two eligible household members to apply for coverage and the discount on the same form.

The new sales material will be available for download on July 15, 2013. You can begin using the new dual applications immediately. If an application is submitted on an old application on or after August 15, 2013 it will be returned to the agent unprocessed.

Existing policyholders can apply for the American Continental and Continental Life rate decrease by completing the Household Eligibility Discount Request Form.

Call 1-877-936-2991 or visit our Medicare Quote Engine for instant Medicare Supplement Rates.

Omaha Insurance Company Medicare Supplement

Omaha Insurance Company Medicare Supplement plans are one of the most sought after Medigap policies in the country right now.  Many people like them because they are part of Mutual of Omaha, who is known for their customer service and expertise in the Medicare market.  You can compare their Medicare Supplement Rates through our Medicare Quote Engine.

Omaha Insurance Company Medicare Supplements

Omaha Insurance Company is a part of Mutual of Omaha.

Omaha Insurance Company Medicare Supplement Plans

Like all companies in the Medicare market, plans are standardized so benefits can not vary from one company to another.  However, rates can vary greatly.  As mentioned above it is important to compare rates before choosing a policy because even Omaha Insurance Company Medicare Supplements are not competitive in every zip code.

When you compare plans they will be automatically sorted by the most popular Medicare supplement plan “The Plan F”.   However, you can choose the drop down on the right side to see if there are any other plans that you are searching for.

How To Compare Plans

There are several things to know when comparing Omaha Insurance Company Medicare Supplement Plans or any other company for that matter.  Below they are laid out in a simple numerical format:

  1. Rates – the rates are the most important factor because you are comparing apples to apples. 
  2. Insurance Company Financial Stability – choose an insurance company that has a positive rating with AM Best.
  3. Consider the Plan G – the plan G has lower rate increases across the country on average.  Primarily because it is not a “Guaranteed Issue Plan” which means in most situations people do have to answer health questions to choose this plan.  This creates a healthier group of individuals on the plan which means lower rate increases.

If you need help finding the right Omaha Insurance Company Medicare Supplement contact us at 1-877-936-2991.

Philadelphia American Medicare Supplement Rates

Philadelphia American Medicare Supplement Rates seem to have remained stable longer than any other insurance company in the market.  There are some companies that have stable rates but they are not competitive – Philadelphia American is competitive.  There are a few companies like United Healthcare/AARP that have products that remain competitive while offering low premiums, but Philadelphia American has maintained stable rates for several years.

Philadelphia American Medicare Supplement Rates are expected to receive only a 6% rate increase in the state of Mississippi, that will take effect September 1, 2013.  This is extremely low given that they have been in the market three years and other companies like Mutual of Omaha are usually giving rate increases of approximately 15% to their policy holders.  The 6% rate increase is on both Plans F and Plan G.

Philadelphia American Medicare Supplement Rates

Why are Philadelphia American Medicare Supplement Rates so much more competitive than other insurance companies in the market.

  1. They are stricter on Medicare Supplement health questions.
  2. They pay lower commissions
  3. They came into the Medicare market with the idea of hanging around and not just writing business and raising the premium.
  4. They owner of the company runs it like it is his personal business and not for the stock holders.
Philadelphia American Medicare Supplement Rates

Philadelphia American Insurance Company

Where can I compare Medicare Supplement rates?

You can compare Philadelphia American Medicare Supplement Rates at our Medicare Quote Engine.   Here we provide you with free online quotes for Medicare Supplement Plans in a matter of minutes.  We built a program for our users that allows you to price out plans with over 30 companies without the hassle of waiting for different insurance companies to get back with you on their premium amount.

Call our office at 1-877-936-2991 for instant rates on Philadelphia American Medicare Supplement Plans!  We look forward to helping you with your insurance needs.

Genworth Long Term Care

NEWS: GENWORTH LONG TERM CARE INSURANCE DELAYED IN THE CALIFORNIA MARKET!!!

Genworth a long term leader in the long-term care insurance market has announced a delay in the California market due to lingering customer service issues they are experiencing.  Unlike most companies, Genworth has taken the time to address these issues prior to launching a push for their LTC products.

Long-Term Care insurance helps cover custodial care that is not covered by Medicare insurance.    Medicare and Medigap plans only cover medically necessary coverage where Genworth Long Term Care Insurance covers care such as cleaning, bathing, etc. that is needed when you experience loss in your daily activities of living.   An example of this would be needing someone to help take you to the grocery store or the bathroom if you were not able to accomplish this on your own.  Continue reading

Underwriting Medicare Supplement Plans

Before jumping into the Medicare Supplement market, companies must figure out the different risks and rewards to being in the business. There are a lot of factors to consider when looking at underwriting Medicare supplement plans.  There are actuarial tables for rates, underwriting health questions to determine eligibility, state laws to comply with, federal regulated benefits to adhere to, and many other factors that go into underwriting Medicare supplement plans.  This article should help people realize some of the risk factors that have to be considered.

Underwriting Medicare Supplement Plans

Medicare Supplement Insurance Premiums by Medicare Insurance Finders

Underwriting Medicare Supplement Plans – Actuarial Tables

This is probably the easiest of things for an insurance company to complete since they typically will pay an outside actuarial company to handle rate tables.  However, prior to  the actuarial figures there are many things that are needed:

  • What states will the company be issuing policies?
  • What are the underwriting requirements in those states?

Premium Rates & Rate Increase Strategy

What is commonly seen in the Medigap world is a company that comes out with a super low rate and everyone flocks to that plan (healthy and unhealthy). Once this plan becomes loaded up and the premium is on the books, claims start to hit the books.   Then as claims begin to come in the low rate increases take place – sometimes these rate increases occur even when loss ratios are low to help prevent large increases the following year.

However, all you need is a few cancer patients or individuals with ESRD to have some high claims come in and raise the premiums for everyone on the group.  INSURANCE COMPANIES CAN NOT RAISE THE RATES FOR AN INDIVIDUAL!! THEY MUST RAISE RATES FOR THE WHOLE GROUP. 

Introduce Different Medigap Plans

One strategy that was common several years ago which has not been seen recently was introducing plans A-G and then introducing alternative plans several years later after the Plan F & G had received high rate increases.  This hit a high right before the 2010 Medicare Modernization Act, when the Plan J was popular; however, no company to my recollection has done this with the Plan N.

The purpose of this was for an insurance company to be able to stay in the state while being able to raise their rates on plans that needed rate increases.  Certain plans are not Guaranteed Issue plans which helps prevent high risk individuals from coming onto these plans.

State Laws to Consider

Each state has different laws that must be followed when underwriting Medicare Supplement plans.  You can view an article on our Medicare Insurance Finders website to see different MEDIGAP LAWS and how they vary state to state.  These laws make it complicated for an insurance company to have a universal application that works in each state as well as having underwriters trained on general questions.  Instead, they have to know and understand state specific laws.

An Example would be Tennessee asking their tobacco question in their health questions section of the application.  This means that individuals in Open Enrollment who use tobacco get non-tobacco rates.  An insurance company has to account for how many tobacco users are on non-tobacco rates because of when they signed up for their health plan.

To learn more about Medicare Supplement Insurance contact us at 1-877-936-2991.

Stonebridge Life Medicare Supplement

Are you looking for a Stonebridge Life Medicare Supplement Plan?  These Medigap plans are available through Medicare Insurance Finders, but before we explain which states their premiums are competitive in there are some basics you should know about the company.

Stonebridge Life Company Overview

Stonebridge LIfe is an AEGON company.  They employ roughly 29,500 people and have over 40 million customers across the globe.  Stonebridge Life Insurance Company is licensed in all 50 states minus New York, and services 3.7 million people in the US through life, health, accident and dental insurance plans.  They are an A+ rated insurance company through AM Best.

Recently they decided to offer a Stonebridge Life Medicare Supplement.  Since these plans are standardized across the country their benefits will not be reviewed in this article, but it is good to know that they will have competitive rates in certain states.  They also decided to issue an E-app which is available for telelphonic enrollment.  If you need to enroll in a Stonebridge Life Medicare Supplement call 1-877-936-2991.

Stonebridge Life Medicare Supplement

Stonebridge Life Insurance Company

Stonebridge Life Medicare Supplement Rates

Two states in which Stonebridge Life Medicare Supplement Rates will be extremely competitive are Michigan and Florida.  In the state of Florida, their Medicare Supplement Rates are roughly 10% cheaper than United Healthcare and in some cases $100 cheaper or more per month than Mutual of Omaha.

Compare Medigap Plans

The important thing to remember when comparing Medigap plans is that these plans are standardized, so premiums play a very important factor.  Also make sure to choose a carrier that is secure rated with AM Best and has some credibility in the insurance market.

To Compare Stonebridge Medigap Plans go to the Medicare Quote Engine for instant online rates with over 25 insurance companies across the country in less than 2 minutes.  If you would like to speak with someone over the phone call 1-877-936-2991, a senior market advisor can advise you on the different plans available.

Aetna purchases Coventry Healthcare

This week Aetna one of the countries largest insurance companies purchased Coventry Health Care for approximately 8.7 billion.  Aetna has pushed for more strength in the senior insurance market over the last several years with the purchase of American Continental,  Continental Life, and now Coventry.  This allows the insurance company to continue stretching out its growth in the Medicare market through its different filings in all 50 states.

Aetna is one of the largest insurance companies in the world and over the past few years has decided to make a hard push in the Medicare market.  With over 10,000 people turning 65 each day for the next 20 years it is hard to blame them or think that it is a bad move.  Continue reading

Oxford Life Medicare Supplement

Oxford Life Insurance Company was recently affirmed at a B++ (GOOD) rating by AM Best Company,the largest rating agency in the United States.  Oxford Life is a part of U-Haul international, Inc. North America’s leading household moving and storage company.  So if you are wondering if purchasing an Oxford Life Medicare Supplement plan I would say that the company has pretty good business experience and will be around a while.

Oxford Life Insurance Company also owns Christian Fidelity Life Insurance Company out of Dallas, Texas.  However, Oxford Life is located in Phoenix, AZ.  Both of these companies focus their insurance efforts on serving the senior insurance markets.  Oxford Life Medicare Supplement plans may be their most well known senior market product, but they have also diversified into the annuity business. Continue reading

Retiree Delta Dental Insurance

Medicare Insurance Finders is located in Jackson, MS and is in the same office as Dental for Everyone.  Dental4Everyone is an organization that enrolls over 2,000 people per month in individual dental plans.  Since dental plans are gaining traction in the 65+ market we decided to write an article on retiree delta dental insurance.

Delta Dental is the largest dental insurance provider in the country.  They primarily write group dental policies, bu they will offer senior dental plans through organizations such as: Benefits Association, AARP, and TriCare.   These three groups have access to write individual policies on a group basis through their associations.  So if you are an individual looking to purchase retiree delta dental insurance you need to click here for dental insurance rates.

Retiree Delta Dental Plans

The plans listed on Dental for Everyone will not limit age which allows seniors to enroll in these plans.  One of the largest groups of people looking for dental insurance plans are retirees.  People retiring have been used to having dental insurance for years and most people have had a Delta Dental plan because they are the largest dental insurance providers.

As you are probably assuming it is very common for the majority of people to flock to a retiree Delta Dental policy upon retirement because of the familiarity with the company and their dentists.

How Do I get Delta Dental Rates

You can get rates by clicking “DELTA DENTAL RATES“.  All you need to do for plan rates and information is enter your zip code and you will be given numerous carriers that provide dental insurance plans in your zip code.  Upon choosing a few plans that you like you can find out plan details such as rates, coverage specifics, dentists in network, and other factors that you should consider when purchasing a plan.

Retiree Delta Dental

Benefits Association –                       Retiree Delta Dental Plans