Initial Rate Guarantee

[bpenn9]

I'd be surprised if that is correct. You might want to double check your facts. That is the way they have rate increases in the following example.


Jack went effective Feb 2013, in April 2013 MOO had a rate increase, in Feb 2014 Jack's rate would increase the percentage of the April 2013 rate adjustment, if MOO has another rate increase in April 2014, they will not adjust Jack's rates again until three months following the 2/14 increase. In this example, Jack gets an increase in 2/14 and again May 2014.

Yes, I was talking about UHC not MoO as that is what I thought you were referring to in your previous post.

 

[G.Gordon]

I was talking about UHC in my example.

 

[bpenn9]

I was talking about UHC in my example.

I am not sure what example you are talking about now. But I can tell you for all my 1/1/14 effective dates I wrote in UT are guaranteed that rate for 6 months. On 7/1/14 they will receive the 2014 UHC rate increase on 4/1/14.

 

[G.Gordon]

Interesting, thanks.

 

[Todd King]

Which brings up another point. Which carriers will hand out multiple rate increases in the same calendar year?

All "Attained Age" companies, in all of the states that allow it.

 

[MedSuppPro]

What about Physician Mutual's Issue Age?

I found a T-65 lady who thought paying $60 bucks more a month was worth it. After all "they have never raised their rates over 5% and will pay 100% for everything."

The Phy Mute agent showed up at her door and gave her a dose of Kool-Aid!

 

[Newby]

I was talking about UHC in my example.

UHC has the smartest rate increase of all. They position it as a " discount" and just take a little more of it away each year. That way it doesn't get recorded as a rate increase and is positioned as a good thing yo consumers. Some evil genius came up with that one.

 

[somarco]

Georgia has mostly issue age rates sprinkled with a handful of community rated plans. No attained age plans that I know of.

Blue will increase rates 2x a year as will MOO. May be others.

 

[bpenn9]

UHC has the smartest rate increase of all. They position it as a " discount" and just take a little more of it away each year. That way it doesn't get recorded as a rate increase and is positioned as a good thing yo consumers. Some evil genius came up with that one.

They still have rate increases besides the discount.

 

[somarco]

They still have rate increases besides the discount.

Can you explain how the discount works? I have asked before and no one seems to know (or doesn't want to explain).

For example, is it a 10% discount that phases in at 2% a year or what?