WOW New Era 6-8% Rate Increase

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.

I thought that's how all companies handled it. Why would it be any different?
 
I thought that's how all companies handled it. Why would it be any different?

I don't know, just answering Justin's question.

I could be wrong but I believe BX and MOO will give you an increase on your plan anniversary and a catch up if they adjust rates before or after your anniversary.

Both carriers have been known to give more than one rate increase in the same calendar year. Blue tells you they can increase your rates at any time with a 60 day warning. I have sold BX plans for a Dec eff date and 90 days later their rates increased then again in Dec for the anniversary.

MOO has done something similar.
 
I don't know, just answering Justin's question.

I could be wrong but I believe BX and MOO will give you an increase on your plan anniversary and a catch up if they adjust rates before or after your anniversary.

Both carriers have been known to give more than one rate increase in the same calendar year. Blue tells you they can increase your rates at any time with a 60 day warning. I have sold BX plans for a Dec eff date and 90 days later their rates increased then again in Dec for the anniversary.

MOO has done something similar.

I think that most of my clients would rather have 1 big increase than 2-3 smaller ones throughout the year. That's how MOO pissed a lot of clients off. Of course their multiple increases weren't small either. I however will still write MOO if the situation calls for it.
 
New Era is a pretty good go to in GA. I also have Equitable, Aetna, AARP/UHC.

Somarco, from your experience is that a pretty good mix of companies for GA ?
 
I would not like to write AARP/UHC, unless it was good for the customer, and since I don't live in CA or FL, that will be never.
They don't support agents, I won't support them...
I second Bob, Equitable, New Era, and some other one maybe CIGNA/MEDICO
 
I haven't used AARP. I have heard they might be good in some cases depending on health issues.

Thanks for info about NE and Eq.

Easy to learn details on just 2.

Both can be done on the phone as well.
 
I look for carriers that have at least a 5 year history in the Medigap business, with stable rates.

That rules out a lot of carriers.

I am appointed with several other carriers but have not yet found a reason to use them. Early on I wrote business with MOO and BX but nothing in the last couple of years. I used Sterling on one case. The next month they terminated my appointment for lack of production.

Family and Assured did the same thing ........ right after I paid my renewal fee.

I will write maybe a couple of plans a year with Humana. Usually high F or GI. In addition to their lack of competitiveness they can be a real PITA to work with.

Phone apps and e-apps are a big plus for me. I only use paper apps when absolutely necessary.
 
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