One thing I have noted is this. Underwriting with established carriers has tightened considerably over the last 3 years or so.
More underwriting questions vs 5 years ago. Also, some questions have a longer lookback than before.
Longer, more inclusive Rx list.
Bottom line, getting someone approved 5 years ago does not mean automatically approved now. Too many things have changed.
I personally avoid carriers that have not been in Georgia, under the same name, for at least 5 years.
Cigna had the "hot hand" in Georgia about 5 years ago. Low rates, taking almost anyone who could fog a mirror. They are still around but rates are among the highest in the state.
CSG is almost useless when looking for carrier tenure in the market. They show Medico as 30 years in the market but they entered (or perhaps re-entered) the market here in August, 2021 . . . essentially making them a new carrier.
National Health (Allstate) supposedly has been in the Medigap business 57 years but new to Georgia as of 4/2022. MOO has 56 years in the market but only 2 or 3 in Georgia.
It is against my general nature to concentrate business with a handful of carriers but if I chase the hot offers my clients get burned in 3 to 5 years.
Lumico hit the market here a few years ago . . . strong rates then disappeared and now they are back as Elips. They are backed (owned?) by Swiss Re which is a strong, well known reinsurance carrier . . . but Swiss Re doesn't issue the paper or manage the block, they just take most of the risk. Policyholders are getting an Elips policy, not one from Swiss Re.
Swiss Re could sell Elips or put them in storage and let the block deteriorate.
The Medigap market is getting to be like the stop loss market was 20 years ago . . . so many carriers getting and jumping out . . . there is almost no stability except with established, long term players.
