Medigap Carrier Graveyard

[Millwood]

If you don't have a State that has Birthday Rule or Anniversary Rule it's a really big deal for clients .(getting stuck )
If your State does it's really a big deal for the agent. You most likely won't get paid.
Some of Companies are playing hardball with their interpretation of OE wording in statutes and not paying commisions. Have heard one big one will yank contracts and commissions.

 

[agentjhc]

as @rousemark said, policyholders get to keep their plan, even if the block is sold to another carrier. Equitable crashed and sold the block to SILAC to administer . . . and now SILAC is in trouble.

The block of these carriers that stopped writing new business continues on. There is no GI since the coverage remains in effect even if a new carrier assumed the risk.

And yes, rates increase, often by double digits as the block goes into a death spiral.

The Omaha carriers are notorious for swapping issuing carriers about every 3 years. When they close a block for a state rates start to climb because there are no new policies issued in that state by that carrier. The closed block is a group of folks getting older and sicker. Healthy folks leave and sick ones remain behind.

Other carriers do the same thing. Some of the Aetna subsidiaries are listed in this thread. Most of them are still very much alive but issuing new coverage in other states. So again, no GI.

So...in GA we have Anthem who hasn't played the shell game...UHC hasn't but will bring in UHICA at some point....Humana has 2 in the market at this time, will they close the old one at some point?

Anyone else?

 

[Special Agent]

So...in GA we have Anthem who hasn't played the shell game...UHC hasn't but will bring in UHICA at some point....Humana has 2 in the market at this time, will they close the old one at some point?

Anyone else?

Hoping they bring in UHICA to Florida soon -it will be a game changer.The UHC book in Florida for a long time had no underwriting other than being currently hospitalized up until about 2010-15 maybe and then had very limited underwriting for a while after that so i am surprised they had been able to keep the rates as low as long as they did.I remember writing policies on people who had copd and where going through chemo

 

[somarco]

Polish Falcons? Seriously?

@agentjhc Anthem changed from BCBSGA to Anthem when they were absorbed. They did away with unisex rates and started charging for tobacco . . . but that's not the same as the shell game like Omaha, Aetna and others.

UHC has made changes but I don't use them so can't really say what they have done. They were never competitive until the added the G plan about 20 years after other carriers offered it.

Humana has never been serious about the Medigap side and I am not convinced they know their way around even now.

 

[agentjhc]

Polish Falcons? Seriously?

@agentjhc Anthem changed from BCBSGA to Anthem when they were absorbed. They did away with unisex rates and started charging for tobacco . . . but that's not the same as the shell game like Omaha, Aetna and others.

UHC has made changes but I don't use them so can't really say what they have done. They were never competitive until the added the G plan about 20 years after other carriers offered it.

Humana has never been serious about the Medigap side and I am not convinced they know their way around even now.

For what it is worth....I gather that over the last couple of years, Humana wants less PDP business, but more MS business. And of course they love MAPD

 

[agentjhc]

Hoping they bring in UHICA to Florida soon -it will be a game changer.The UHC book in Florida for a long time had no underwriting other than being currently hospitalized up until about 2010-15 maybe and then had very limited underwriting for a while after that so i am surprised they had been able to keep the rates as low as long as they did.I remember writing policies on people who had copd and where going through chemo

UHICA has hit TN...waiting to see when they hit GA.

 

[sman]

Humana wants less PDP business, but more MS business.

Maybe they should let the underwriters know. I get more declines from Humana than any other company.

 

[agentjhc]

Maybe they should let the underwriters know. I get more declines from Humana than any other company.

I’ve recently been 2 for 3. One guy was declined for diabetes with neuropathy

T65 don’t get turned down though!

Anthem had been solid in GA. Did have a 9 or 10% increase this year. But have had moderate increases previously

 

[selfgen]

I think we could break it into two categories, one and done companies, and shell game companies (mutual).

I made a list of the companies already mentioned.

Accendo
ACI
Admiral
AFLAC
American pioneer
Assured Life
Atlantic American
Atlantic Coast Life
Bankers fidelity
Capitol Life
CSI
CSO
Equitable Life and Causality
Everest
ForeThought
Gerber
Genworth
Golden Rule
KSKJ
Lincoln Heritage
Mutual of Omaha*
Secure Horizons
Sentinel Security
Sterling Investors
TransAmerica
RNA
Union security

Here are a few I thought of, that I used to write..

Universal American..
-Pennsylvania Life
-Constitution Life
-Union Bankers
-Marquette National Life
-PennCorp Life
-Penninsular Life

Thrivent
Loyal Christian Benefits Association
Oxford Life

So I then realized I could go on CSG and run quotes from the past, and I came up with a few more. I only looked in OK for the year 2012, plan G. I tried other years, and CSG wouldn't load....

Americo-Great Southern Life (this wasn't from 2012, but I never wrote it)
Heartland National Life
GPM Life
Standard Life
Madison National Life
Shenandoah
Combined (Chubb)
IAC - Individual Assurance Co
American Republic (Wellabe)
Sterling Life
Everence Assoc
Standard Life and Accident

Some of you lifetime medigap sales guys can probably come up with a few others... was it like this in the 90s (or earlier) with Medigap, the turnover of carriers?

You forgot State Mutual insurance Company. I wrote hundreds of those policies for the first few years I was in the business, back in 2001-2004. Wakely & Associates was the TPA and they were fantastic!

 

[axeman462]

For what it is worth....I gather that over the last couple of years, Humana wants less PDP business, but more MS business. And of course they love MAPD

thats the impression I get here in Florida as well. They used to be the king with PDP, but the past few years they have pulled back a lot, and have really been pushing the medsupps.
It seems they want to diversify their risk exposure a bit