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Senior Benefit Services, Inc

A field marketing organization (FMO) specializing in the senior insurance market

Bankers Fidelity Rate Increase in West Virginia

Carrier Premium Update from Senior Benefit Services

Carrier premium updates, including Medicare Supplements, can happen without the agent realizing there are important changes. As an insurance agent, you must be informed of what premiums are adjusting in the Senior Insurance Market. Senior Benefit Services is here to help with premium updates from over the past couple of months. Scroll through to see what carrier premium updates you might have missed!
If you need a premium rate comparison, then Senior Benefit Services is here to help. Click here to request current premiums from a particular carrier or a rate comparison.

Bankers Fidelity Medicare Supplement

Medicare Supplement Rate Increase in West Virginia

Reminder for West Virginia insurance agents selling Bankers Fidelity Assurance Company. There will be a rate increase effective June 1, 2021 for Plans A, F, G, and N for the B21492 Preferred and Standard Medicare Supplement products.

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Medicare Supplement Plan A, F and G will have a 9.9% rate increase.

Great news! Plan N will only have a 3.9% rate increase.

The updated outline of coverage is available on www.bflic.com in the ADDS library on June 1, 2021. 

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Medicare Supplement Rate Increase in Missouri

Effective July 1, 2021, both Accendo Life Insurance Company (CVS Health) and Aetna Health and Life Insurance Company Medicare Supplements will have a rate increase in Missouri. According to Aetna’s guidelines if the application signature date is on or after June 1, 2021, then the new rates will be applied. Contact Senior Benefit Services today to make sure you are offering the most competitive Medicare Supplement rates.

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Accendo Life (CVS Health) (effective 7/1/2021)

  • Plan A – 3% Increase
  • Plan F –  3% Increase
  • Plan G – 3% Increase
  • Plan N – 3% Increase

Aetna Health (effective 7/1/2021)

  • Plan A – 5% Increase
  • Plan B – 5% Increase
  • Plan F –  5% Increase
  • Plan G – 5% Increase
  • Plan N – 5% Increase

If you are already appointed with Aetna’s Supplemental products, then click the button below to see rate details on www.aetnaseniorproducts.com. 

View Aetna’s Rate Change Details

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Mutual of Omaha Supplemental Plans

Mutual of Omaha Rate Increase for Medicare Supplement Plans in Connecticut and North Dakota

Both Connecticut and North Dakota will have a rate adjustment on their Omaha Insurance plans effective July 1, 2021 for new and in-force policies.

Connecticut will have a 6.75% rate increase on Plans A, F and N

North Dakota will have a 6.75% on Plan A and N and 12% Increase on Plan F and G

Letters will be mailed to the insured Omaha Insurance policyholder about this increase.

New rates will be available on Mutual of Omaha’s agent portal in the coming weeks. 

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ProCare Medicare Supplement Rate Increase in Virginia

United American has received a new rate approval in Virginia. The state has approved 2021 rates for UA ProCare Plans A, B, C, D, F, HDF, G, HDG and N. Plans K and L are not available in this state. The rates on Plans A, HDF, G and HDG have not changed. This state uses area rating for all plans (3 areas). The new business effective date is 6/1/2021. Use the new rates on applications signed on or after 6/1/2021. The renewal effective date is 6/1/2021.

Download detailed rate cards from UAOnline: www.unitedamerican.com/logon

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Medico Insurance Company

Medico Medicare Supplement Rate Increase in Multiple States

Rate adjustments are being made for Medico’s Medicare Supplement plans in Kentucky, South Carolina, Tennessee, and West Virginia. These rate adjustments will be implemented for renewals and new issues with an application date of July 1, 2021, or later. Applications dated before July 1, 2021, will use the previous rates, even if the policy has a future effective date.

Kentucky

  • Plan A – 0% Increase
  • Plan F – 7% Increase
  • Plan HiF – 7% Increase
  • Plan G – 5% Increase
  • Plan N – 7% Increase

South Carolina

  • Plan G – 7% Increase

Tennessee

  • Plan G – 9% Increase

West Virginia

  • Plan A – 0% Increase
  • Plan F – 12% Increase
  • Plan HiF – 5% Increase
  • Plan G – 5% Increase
  • Plan N – 5% Increase

An updated rate guide PDF will be available June 15, 2021, on the Medico Information Center (MIC) website, mic.GoMedico.com.

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Medicare Supplement Rate Adjustment in Florida, Minnesota, and New Jersey

Starting May 1, 2021, Cigna Health and Life Insurance Company will implement a rate hold in New Jersey!

New Jersey

  • Plan A – 0% adjustment
  • Plan C – 0% adjustment
  • Plan D – 0% adjustment
  • Plan F – 0% adjustment
  • Plan HiF – 0% adjustment
  • Plan G – 0% adjustment
  • Plan N – 0% adjustment

Starting June 1, 2021, Cigna Health and Life Insurance Company will implement a rate adjustment in Florida

Florida

  • Plan A – 3% Increase
  • Plan F – 3% Increase
  • Plan High F – 3% Increase
  • Plan G – 3% Increase
  • Plan N – 3% Increase

Cigna offers a variety of products to fit your clients’ needs.  

Make sure to check out the Product Availability Chart to see what else Cigna has to offer!

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