Lumico received approval for a rate adjustment in Minnesota. There is a 5.0% rate increase for all plans except for the Part B deductible rider. The Part B deductible was updated to match what was set by CMS and is ~17% higher than our prior Part B deductible rate.
Please refer to the points below to determine which rates should be applied.
- All Medicare Supplement applicants dated before July 1, 2022, regardless of effective date, will receive the current rates.
- Any application dated on or after July 1, 2022, requesting a policy effective date before August 1, 2022, will receive the current 6-25-20 rates.
- Any application dated on or after July 1, 2022 requesting a policy effective date of August 1, 2022 or after will receive the new 8-1-2022 rates.
For your convenience, below is the new Rate Sheet. New applications can be ordered through normal channels.
Lumico — Insurance Made Clear.