Medicare-MoO, any positive experiences?

[lawman]

Quote:

Originally Posted by harllee This is what happened to me and my husband. We live in North Carolina. We both bought Plan G policies from Mutual of Omaha when we turned 65, premiums around $90 each per month.. For the next 3 years all was well, just small increases each year. When we each reached 68 Mutual of Omaha substantially increased our premiums to about $180 each. We immediately started looking for other insurers. I was able to go with AARP UHC Plan G for about $100 per month. Husband has a preexisiting medical condition and could not pass underwriting to move to any other insurer so he is stuck with Mutual of Omaha. I did some research, contacted NC Dept of Insurance and found that Mutual of Omaha was no longer writing new Medicare policies in North Carolina, they were keeping their old insureds but those who could not move to another insurer are stuck with them at exorbitant rates. At the same time they closed "Mutual of Omaha" in NC they started a new company in NC selling Medicare Supplements under the name "Omaha Insurance Company" with Plan G policies for $125. Do a search on this Forum for "Mutual of Omaha" and you will find examples of other people with this same issue. I have talked with several agents and was told that this is a common tactic by Mutual Of Omaha.

Should be illegal..As of today I have been accepted by UHC but still waiting to hear from them for my wife..THaNKS!

[MBSC]

Quote:

Originally Posted by lawman I can't find anything on the internet about this practice by MofO. Any additional evidence of this would be apprciated..Thanks..

2021 Illinois Medicare Supplement Enrollment

HCSC (BCBS-IL) 352,005
UnitedHealthcare Ins Co 111,245
*United World Life Ins Co 50,593
Aetna Hlth Ins Co 46,737
*Mutual Of Omaha Ins Co 37,203
Country Life Ins Co 19,159
Cigna Hlth & Life Ins Co 12,991
*Omaha Life Ins Co 8,576
American Continental Ins Co 6,866
State Farm Mut Auto Ins Co 6,101

2021 North Carolina Medicare Supplement Enrollment

BCBS of NC Inc 157,386
UnitedHealthcare Ins Co 112,699
*United World Life Ins Co 42,039
Aetna Hlth Ins Co 26,878
*Mutual Of Omaha Ins Co 25,197
*Omaha Life Ins Co 12,565
Colonial Penn Life Ins Co 8,920
Cigna Hlth & Life Ins Co 7,892
Aetna Hlth & Life Ins Co 6,753
USAA Life Ins Co 6,239

2021 Texas Medicare Supplement Enrollment

UnitedHealthcare Ins Co 203,897
HCSC (BCBS-TX) 159,331
*Omaha Supplemental Ins Co 73,102
Aetna Hlth Ins Co 61,056
*United World Life Ins Co 52,110
Cigna Hlth & Life Ins Co 32,261
Continental Life Ins Co 30,445
USAA Life Ins Co 29,957
*Omaha Ins Co 21,430
*Omaha Life Ins Co 20,549

(*) Mutual of Omaha companies

[lawman]

Quote:

Originally Posted by MBSC 2021 Illinois Medicare Supplement Enrollment HCSC (BCBS-IL) 352,005 UnitedHealthcare Ins Co 111,245 *United World Life Ins Co 50,593 Aetna Hlth Ins Co 46,737 *Mutual Of Omaha Ins Co 37,203 Country Life Ins Co 19,159 Cigna Hlth & Life Ins Co 12,991 *Omaha Life Ins Co 8,576 American Continental Ins Co 6,866 State Farm Mut Auto Ins Co 6,101 2021 North Carolina Medicare Supplement Enrollment BCBS of NC Inc 157,386 UnitedHealthcare Ins Co 112,699 *United World Life Ins Co 42,039 Aetna Hlth Ins Co 26,878 *Mutual Of Omaha Ins Co 25,197 *Omaha Life Ins Co 12,565 Colonial Penn Life Ins Co 8,920 Cigna Hlth & Life Ins Co 7,892 Aetna Hlth & Life Ins Co 6,753 USAA Life Ins Co 6,239 2021 Texas Medicare Supplement Enrollment UnitedHealthcare Ins Co 203,897 HCSC (BCBS-TX) 159,331 *Omaha Supplemental Ins Co 73,102 Aetna Hlth Ins Co 61,056 *United World Life Ins Co 52,110 Cigna Hlth & Life Ins Co 32,261 Continental Life Ins Co 30,445 USAA Life Ins Co 29,957 *Omaha Ins Co 21,430 *Omaha Life Ins Co 20,549 (*) Mutual of Omaha companies

Interesting numbers..In Texas I see 4 MofO companies. I'm told there are at least 5. I wish we could know the number of companies they have closed the book on..I can think of no ethical reason for closing the book..Thanks

[teej1985]

Quote:

Originally Posted by lawman Interesting numbers..In Texas I see 4 MofO companies. I'm told there are at least 5. I wish we could know the number of companies they have closed the book on..I can think of no ethical reason for closing the book..Thanks

Profits of course. This has been exhaustively explained on this forum but people don't seem to want to believe it of course.

[lawman]

Quote:

Originally Posted by teej1985 Profits of course. This has been exhaustively explained on this forum but people don't seem to want to believe it of course.

Can anyone give me the name of a MofO company in Texas that has closed the book?

[REWahoo]

Quote:

Originally Posted by lawman Can anyone give me the name of a MofO company in Texas that has closed the book?

Texas? Sure.

United World (a MoO company) closed the book in July of 2019. In August of 2019 MoO began selling Medigap policies under a new subsidiary, Omaha Insurance Company, which closed the book in July of 2022. Not sure of the name of the latest MoO company.

[Sunset]

All this talk of MoO closing the book, has me concerned as we signed up with a MoO.
How does a person switch to another company ?

[harllee]

Quote:

Originally Posted by Sunset All this talk of MoO closing the book, has me concerned as we signed up with a MoO. How does a person switch to another company ?

Depends on your state. In most states you have to apply with a new company and go through health underwriting. In a few states you can change during certain times of the year without underwriting. In any event you would start by figuring out the company you want to switch to, go to their website and complete an application. I switched from MofO to AARP/UHC.

[dixonge]

Quote:

Originally Posted by lawman I can't find anything on the internet about this practice by MofO. Any additional evidence of this would be apprciated..Thanks..

well here's a thread of insurance brokers/agents discussing it across various companies (but focusing on MoO)

https://insurance-forums.com/communi...hits-10.82352/

[Dash man]

Quote:

Originally Posted by Sunset All this talk of MoO closing the book, has me concerned as we signed up with a MoO. How does a person switch to another company ?

If you’re still within six months of turning 65, you can change with no underwriting.

[lawman]

Quote:

Originally Posted by dixonge well here's a thread of insurance brokers/agents discussing it across various companies (but focusing on MoO) https://insurance-forums.com/communi...hits-10.82352/

Thanks!

[Rianne]

Quote:

Originally Posted by dixonge well here's a thread of insurance brokers/agents discussing it across various companies (but focusing on MoO) https://insurance-forums.com/communi...hits-10.82352/

This discussion is from May 2016. How can we get something more recent?

A 10% increase would bring my premium from $92/month to $101/month.

[Telly]

Quote:

Originally Posted by lawman Can anyone give me the name of a MofO company in Texas that has closed the book?

Quote:

Originally Posted by REWahoo Texas? Sure. United World (a MoO company) closed the book in July of 2019. In August of 2019 MoO began selling Medigap policies under a new subsidiary, Omaha Insurance Company, which closed the book in July of 2022. Not sure of the name of the latest MoO company.

The latest MoO in TX is Mutual of Omaha Insurance Company (MOIC for short).
DW just received a mailer from them.

"New, Lower Medicare Supplement Insurance Rates In Texas"
"You Can Switch Now See What You Save"

Uh-huh, sure. But for how long? That's a rhetorical question.

[CWradio]

For those that are stuck in dead / closed pool you maybe able to do this:

You can switch from a Medicare Supplement plan (Plan G) to a Medicare Advantage ( 5 star) plan for the first time and then switch back to a Supplement plan (Plan G) within 12 months without medical underwriting with a different insurance company if the insurance company no longer sells (closed, dead pool) Medicare Supplement plans.

[Sunset]

Quote:

Originally Posted by adlerps For those that are stuck in dead / closed pool you maybe able to do this: You can switch from a Medicare Supplement plan (Plan G) to a Medicare Advantage ( 5 star) plan for the first time and then switch back to a Supplement plan (Plan G) within 12 months without medical underwriting with a different insurance company if the insurance company no longer sells (closed, dead pool) Medicare Supplement plans.

But Moo , according to others, closes one, and opens a new one. So can a person still switch companies, or do they have to go back to the same Moo. ?

[CWradio]

Quote:

Originally Posted by Sunset But Moo , according to others, closes one, and opens a new one. So can a person still switch companies, or do they have to go back to the same Moo. ?

Take a look at this from Medicare.gov. Look a the fifth blue bar.

https://www.medicare.gov/supplements...d-issue-rights

You dropped a Medigap policy to join a Medicare Advantage Plan (or to switch to a Medicare SELECT policy) for the first time, you’ve been in the plan less than a year, and you want to switch back. (Trial Right)
You have the right to buy:

The Medigap policy you had before you joined the Medicare Advantage Plan or Medicare SELECT policy, if the same insurance company you had before still sells it.

If your former Medigap policy isn't available, you can buy a Medigap Plan A, B, C*, D*, F*, G*, K, or L that’s sold by any insurance company in your state.

Find a good broker that has done this type of swap before in your state.

[MichaelB]

Quote:

Originally Posted by adlerps Take a look at this from Medicare.gov. Look a the fifth blue bar. https://www.medicare.gov/supplements...d-issue-rights You dropped a Medigap policy to join a Medicare Advantage Plan (or to switch to a Medicare SELECT policy) for the first time, you’ve been in the plan less than a year, and you want to switch back. (Trial Right) You have the right to buy: The Medigap policy you had before you joined the Medicare Advantage Plan or Medicare SELECT policy, if the same insurance company you had before still sells it. If your former Medigap policy isn't available, you can buy a Medigap Plan A, B, C*, D*, F*, G*, K, or L that’s sold by any insurance company in your state. Find a good broker that has done this type of swap before in your state.

Link is broken

[Sunset]

Quote:

Originally Posted by adlerps Take a look at this from Medicare.gov. Look a the fifth blue bar. http://https://www.medicare.gov/supp...d-issue-rights You dropped a Medigap policy to join a Medicare Advantage Plan (or to switch to a Medicare SELECT policy) for the first time, you’ve been in the plan less than a year, and you want to switch back. (Trial Right) You have the right to buy: The Medigap policy you had before you joined the Medicare Advantage Plan or Medicare SELECT policy, if the same insurance company you had before still sells it. If your former Medigap policy isn't available, you can buy a Medigap Plan A, B, C*, D*, F*, G*, K, or L that’s sold by any insurance company in your state. Find a good broker that has done this type of swap before in your state.

Hmmmm..... possibly it would work... seems like they have to sell a plan, but doesn't mean it has to be at the "normal" rate ?

The link is fixed: https://www.medicare.gov/supplements...d-issue-rights

[braumeister]

I fixed the link.

[Sunset]

Quote:

Originally Posted by MBSC 2021 Illinois Medicare Supplement Enrollment HCSC (BCBS-IL) 352,005 UnitedHealthcare Ins Co 111,245 *United World Life Ins Co 50,593 Aetna Hlth Ins Co 46,737 *Mutual Of Omaha Ins Co 37,203 Country Life Ins Co 19,159 Cigna Hlth & Life Ins Co 12,991 *Omaha Life Ins Co 8,576 American Continental Ins Co 6,866 State Farm Mut Auto Ins Co 6,101 (*) Mutual of Omaha companies

Where/how did you find this information ?