Medicare Supplement Rate Increase in Virginia
The Department of Insurance in Virginia has approved a rate increase for the Medicare Supplement Policies:
- Plans A – 9% Increase
- Plan F – 9% Increase
- Plan G – 4% Increase
- Plan N – 3% Increase
Any new business received at GTL that has an application date of March 15, 2019 or later must reflect the new rates. Applications dated March 14, 2019 and prior must be received at GTL by March 22, 2019. Existing policyholders will be notified for policies due March 15, 2019 and later. (Also note there is a change to zip code area 201 for new business effective 3/15/2019)
Similar to GTL’s procedures in the past, newly issue policies will not receive a rate increase for one year (attained age re-rate still applies).
You can access the new Medicare Supplement rates and forms online through GTLINK, from GTL’s website (www.gtlic.com) by selecting Agents – GTL Agent Login- under your own username/password. Once logged in, select GTLink (PDF Forms).