I am rusty on the med sup market but it appears to me that most companies like United Omaha and Gerber Life don't have plans to roll out a modernized Plan M or N. I know that their respective websites show plan approvals for effective dates of June 1st and beyond but neither carrier shows a Plan M or N. Do any of you guys and gals know of any carriers who appear to be aggressive with Plan M or N rollouts? Thanks in advance for any guidance!
Modernized Med Sups
- Thread starter NC Agent
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I believe carriers are holding back on both M and N right now. I have been told that they will be coming later. It isn't logical to assume that the major carriers will not have at least one or the other.
It almost looks like no one wants to be the first to announce.
It almost looks like no one wants to be the first to announce.
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I've seen the Outline of Coverage for the already-approved states - they do exist (when the website's not down). But the rates are not out yet -that's what they're holding out on as they're trying to calibrate based on the competition. I heard last week it'll be April for the rates.
Example, here's Gerber's Outline of Coverage for post-June 1 in Michigan.
Here's for Mutual/United of Omaha approved states already:
2010 Modernization Plan State Approvals
Our modernized plans have been approved in the following states for coverage effective dates on and after June 1. Outlines of coverage will be available in early December.
Alabama United World
Arizona United of Omaha
Arkansas United of Omaha
District of Columbia Mutual of Omaha
Delaware United World
Georgia United of Omaha
Illinois United of Omaha
Iowa United of Omaha
Kentucky United of Omaha
Michigan United of Omaha
Minnesota United World
Montana United World
Nebraska Mutual of Omaha
Nevada United of Omaha
New Mexico United World
Ohio United of Omaha
Oklahoma United of Omaha
Oregon United of Omaha
South Carolina United of Omaha
South Dakota United World
Virginia United of Omaha
West Virginia United of Omaha
Wisconsin United of Omaha
Wyoming United World
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- 7,066
The latest rumor on MOO is that they have filed M&N in 41 states. Premiums may be between 60% and 80% of Plan F in the individual state and commissions are going to stay the same.
However, tomorrow that may all change. No one other than the people at MOO will know the exact figures until they are officially released. I think all companies are still in a CYA mode when it comes to M&N premiums. Information could be available as early as March.
However, tomorrow that may all change. No one other than the people at MOO will know the exact figures until they are officially released. I think all companies are still in a CYA mode when it comes to M&N premiums. Information could be available as early as March.
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Yish.....
Now we have "Pre-Standardized", "Standardized", and "Modernized".
I still have about 200 clients on Pre-Standardized plans. Although they are dieing off quickly.
Now we have "Pre-Standardized", "Standardized", and "Modernized".
I still have about 200 clients on Pre-Standardized plans. Although they are dieing off quickly.
