samantha129
New Member
- 15
I got appointed with Mutual of Omaha and wrote a decent amount of business for MOO under their United World life company brand. I then get notice that their closing the book of business for United World and opening a brand new book called what else United of Omaha. Obviously, this is old news but I'm a newbie and just found this site.
In Ohio, you have to go through UW to make a move to another Med supp carrier. I was told by my GA that this is becoming more and more common place. In that, companies are opening and closing books of business. I wonder if ODI even has a clue that they're doing this.
The companies open a book of business for a few years with low competitive rates and load the book up and then close the door when it starts to experience higher than normal rate increases.
The bad part is, the folks on UW that now have health problems won't be able to make a move and they'll be stuck. Now, with no new blood being added year in and year out the book will experience rapid premium increases.
I read a post earlier where in California they can make a move to another Med supp carrier once a year. I think this should be true in all the States and would keep the above from happening!
If this is common place now, if you don't already sell MA plans you better get on the ball because I've already had more than a few clients leave Med Supps that I sold them and they now want MA because of the higher than normal rate increases on their Med Supp.
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In Ohio, you have to go through UW to make a move to another Med supp carrier. I was told by my GA that this is becoming more and more common place. In that, companies are opening and closing books of business. I wonder if ODI even has a clue that they're doing this.
The companies open a book of business for a few years with low competitive rates and load the book up and then close the door when it starts to experience higher than normal rate increases.
The bad part is, the folks on UW that now have health problems won't be able to make a move and they'll be stuck. Now, with no new blood being added year in and year out the book will experience rapid premium increases.
I read a post earlier where in California they can make a move to another Med supp carrier once a year. I think this should be true in all the States and would keep the above from happening!
If this is common place now, if you don't already sell MA plans you better get on the ball because I've already had more than a few clients leave Med Supps that I sold them and they now want MA because of the higher than normal rate increases on their Med Supp.
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