Humana Medicare Supplement Temporarily Sunsetting Plans in Virginia (Beginning August 31st)
Humana Medicare Supplement Insurance Plans, sold nationwide, take pride in doing their best to offer a variety of Med Supp plans to consumers at competitive rates.
At this time, Humana is making some changes in a few markets. As is common in the Medicare Supplement market, carriers evaluate, open, and close products in an attempt to deliver sustainable products to market and best meet the needs of consumers.
The pending changes include sunsetting of selected plans under the name of “Humana Medicare Supplement.”
In the coming months Humana will return to Virginia with a revamped Medicare Supplement available to all distribution. (ETA January 1st, 2021 effective dates.)
Scheduled dates to note below for the selected Humana Medicare Supplement plans:
- Electronic applications will be accepted through 8/15/2020.
- All paper applications signed on or before 8/31/2020 will be accepted.
- Humana will no longer accept paper application signed after 8/31/2020
- The latest effective date possible for applications received electronically or via paper prior to 8/31/2020 will be 11/1/2020
- There is no action needed with inforce membership; Medicare Supplement plans are guaranteed renewable and Humana will naturally continue to service existing membership with no changes in service.
- Commissions for existing members will also continue to pay at the levels as outlined within the corresponding Humana Medicare Supplement Producer Partnership Plan.
- Humana is working on filing a revamped Medicare Supplement product in Virginia as quickly as possible upon securing state approvals.
Humana is hopeful you will continue with us along the next part of this journey and the great future ahead for Humana Medicare Supplement