WOW New Era 6-8% Rate Increase

[Bevo]

Correction, A, C, N is 8% G is 6%. I am still surprised to see N go up, but to be fair OH is a high MA penetration state so more seniors are used to the copay model and N has higher claims experience.

C should be the plan to have in OH since theres no excess charges allowed here.

I'd agree if only Plan C premiums were lower annually than Plan G + the Part B deductible. Probably varies by zip code but Ohio quotes I've been running it's been Plan G all the way.

Anyone have rate increase data on Plan C roughly overall in Ohio?

 

[agentjhc]

This across the board in all states or varies from state to state ?

 

[Justin Bilyj]

This is OH. If this was across the board I would be fuming..

 

[openmindedone]

I am very surprised to see New Era hike their plan F and G 8% and plan N 6%. I hope this isnt a pattern. How did plan N get such a hike??
This was for Ohio, anyone hear anything anywhere else?

I've seen plenty of Med Supp rate increases greater than 20%, some year after year. 6-8% is really no big deal, especially when you are writing the cheapest, or next to cheapest, option to begin with.

I feel somewhat relieved when a company only goes up single digits.

 

[Justin Bilyj]

I am just surprised. All over you are seeing 0% rate increases for G and N, even seen a few rate decreases, and after reading articles that talk about rate increases leveling off, I thought the industry was turning a new leaf lol

 

[somarco]

All over you are seeing 0% rate increases for G and N, even seen a few rate decreases,

The MOO flavor of the day is still playing games to gin up market share and will continue to do so, at least until the spring. A few other marginal players are doing likewise.

In my area New Era is below the middle of the pack for F (which I almost never write), always in the hunt on G and N. And historical single digit renewals for as long as I can remember.

Just because someone slips in a low rate for a few months ................. Manhattan, OIC ................. doesn't bother me. Just gives me more opportunity next year when they come out of the ether.

 

[Justin Bilyj]

The MOO flavor of the day is still playing games to gin up market share and will continue to do so, at least until the spring. A few other marginal players are doing likewise.

In my area New Era is below the middle of the pack for F (which I almost never write), always in the hunt on G and N. And historical single digit renewals for as long as I can remember.

Just because someone slips in a low rate for a few months ................. Manhattan, OIC ................. doesn't bother me. Just gives me more opportunity next year when they come out of the ether.

I hear ya and totally agree, the problem is when you just sign someone up as a first year client and that company increases their rates. Then you have a similar conversation to the one below...

 

[somarco]

The only real issue I have had with New Era is when I sign someone up in Nov for a Dec or Jan eff date and submit the app in time to avoid the upcoming increase. On their anniversary they get two years increase in one swoop.

And your tube link didn't work.

 

[Justin Bilyj]

Sorry about the link, its fixed.

What do you mean they get it one swoop?

 

[somarco]

What do you mean they get it one swoop?

Last year New Era allowed us to quote 1/1/14 business at 2013 rates if we submitted the app by (something like) 11/20/13.

I probably wrote a dozen app in the week+ leading up to the cuttoff.

Those people will get the 2014 increase of 6% + the 2015 increase assuming New Era changes rates for 2015.

I take it you haven't written any end of the year business with them before.