Is TA the New MOO? Or Even Worse?

[GreenSky]

Double digit increases for Plans A, F, N with similar discounts on Plan G. Apparently their actuaries use darts to determine rates.

But the big issue is that the new rates do not apply to renewals. Dishonest carrier and one I am very happy I haven't used in about a year.



Medicare Supplement Premium Rates Change

Transamerica Premier Life Insurance Company will be implementing Medicare Supplement premium rate changes for new sales in the states below. These changes will not affect renewal rates. A separate rate adjustment will take place for inforce business.


Rick

 

[briangruss]

Double digit increases for Plans A, F, N with similar discounts on Plan G. Apparently their actuaries use darts to determine rates.

But the big issue is that the new rates do not apply to renewals. Dishonest carrier and one I am very happy I haven't used in about a year.

They just sent out an updated email, which affects WA, the first one increased everything but Plan G, the second increases Plan G at the same rate.

Unfortunately the players in the WA market are them and MOO, and the local Blue who is worse then them.

 

[HoosierLife]

Double digit increases for Plans A, F, N with similar discounts on Plan G. Apparently their actuaries use darts to determine rates. But the big issue is that the new rates do not apply to renewals. Dishonest carrier and one I am very happy I haven't used in about a year. Medicare Supplement Premium Rates Change Transamerica Premier Life Insurance Company will be implementing Medicare Supplement premium rate changes for new sales in the states below. These changes will not affect renewal rates. A separate rate adjustment will take place for inforce business. Rick

So you don't get the extra commission on the rate increases?

 

[GoPokes]

So you don't get the extra commission on the rate increases?

I just laughed out loud.

 

[goillini52]

I just laughed out loud.

United American actually did try paying commissions on the premium increase years ago. Didn't last long...they changed that back after about 18 months.

 

[jacobtn]

Do they decrease renewal commissions when they reduce the rates?

 

[HoosierLife]

Ok, I've only written like a dozen supps. I just assumed we got commission off of the AP. So if the AP increased, I assumed our comp did as well.

Is that not the case? Is it only off of the original AP?

 

[Fisher]

Renewal commish is based on the initial AP, Hoosier. That's it.

 

[kstein]

I think all companies pay off of the initial premium. In MO Anthem paid on rate adjustments for awhile but no longer do so.

 

[Glen Shelton]

So you don't get the extra commission on the rate increases?

^^^

Haha. If only...

That would be a game changer.