Initial Rate Guarantee

[somarco]

Which Medigap carriers offer an initial rate guarantee? I had this written down somewhere but can't find it now. Going from memory.

MOO - 6 months
AARP/UHC - 6 months
New Era / Philadelphia American - 12 months
Aetna / CLI - 12 months
Equitable - 12 months

 

[beachbum2012]

GPM is 12 months in Michigan, not sure about other states.

 

[G.Gordon]

MOO is 12 mo.
Bankers Fidelity 6 mo.
Stonebridge 12 mo.
Old Surety 12 mo and only increase after that on the anniversary.


I thought AARP was 0. If you write someone for a March 1, they get the 2013 rate for one month, in April they get 2014.

 

[adam p]

Which Medigap carriers offer an initial rate guarantee? I had this written down somewhere but can't find it now. Going from memory.

MOO - 6 months
AARP/UHC - 6 months
New Era / Philadelphia American - 12 months
Aetna / CLI - 12 months
Equitable - 12 months

Mutual of Omaha Group- 12

The rest are right Somarco. Cigna group and Manhattan are also 12.

 

[bpenn9]

MOO is 12 mo.
Bankers Fidelity 6 mo.
Stonebridge 12 mo.
Old Surety 12 mo and only increase after that on the anniversary.


I thought AARP was 0. If you write someone for a March 1, they get the 2013 rate for one month, in April they get 2014.

No, it's 6 months. In UT their rate increase is April. All the 1/1 effectives will get their rate increase in July.

 

[goillini52]

Oxford Life...12 months
Heartland National...12 months
United National...12 months
AFLAC...12 months(lol)

 

[G.Gordon]

No, it's 6 months. In UT their rate increase is April. All the 1/1 effectives will get their rate increase in July.

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.

 

[somarco]

Probably some state variations in there. That is the reason I did not include Blue. In GA there is no rate guarantee but they are required to give a 60 day notice of change. Rate adjustments normally come in January. If you bought in Dec you can keep that rate until March. You buy, they give you the notice of change, your rate increases in March, or sometimes April.

 

[senior-advisor-indiana]

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.

I think he was talking about UHC...

 

[somarco]

Jack gets an increase in 2/14 and again May 2014.

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