Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective February 1, 2023*: Impacted Policy Forms Impacted States LTC04G Alabama, Alaska, Hawaii, Massachusetts, Nebraska, New Jersey, Pennsylvania, South Carolina, Virginia LTC04I7 Puerto Rico LTC04I Delaware and Puerto Rico LTC09M Delaware and Puerto Rico LTC09U Delaware LT50, NH50, HCA, NHA and LTA Maine, Nevada, New Mexico * The state of Maine requires a 90-day notification period for all policyholders. Therefore, the
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Inforce LTCi Rate Adjustments Effective January 1, 2023
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective January 1, 2023: Impacted Policy Forms Impacted States LTC04G North Carolina LTC04I7 Massachusetts, North Carolina, Utah LTC04I Massachusetts, Nevada, North Carolina, Utah LTC09M Massachusetts, Nevada, North Carolina, Utah LTC06UI Massachusetts, Nevada, North Carolina, Utah LTC09U Massachusetts, Nevada, North Carolina, Utah LT50, NH50, HCA, NHA and LTA Kansas and Virginia For details on yearly rate adjustment percentages, view the supplemental grid
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Inforce LTCi Rate Adjustments Effective December 1, 2022
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective December 1, 2022.* * The state of Virginia requires a 75-day notification period for all policyholders. Therefore, the effective date for the affected VA policies indicated below will be January 1, 2023. Impacted Policy Forms Impacted States LTC04G Alabama, Tennessee LTC04I Alabama, Pennsylvania, Tennessee, and South Carolina LTC04I7 Alabama, Pennsylvania, Tennessee, and South Carolina LTC09M Alabama, Pennsylvania, Tennessee, and South Carolina
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Maine and Vermont Rate Adjustment Filing Notification Letter
Mutual of Omaha has filed for rate increases in the state of Maine and Vermont. Although approval is pending, ME and VT require carriers to notify policyholders of the rate adjustment request via letter in August. Within the notification letter, the insured was informed of the following: The average proposed rate adjustment The advanced notification requirements (60, 75, or 90 days) The rate increase notification expectations Bureau of Insurance contact information We are continuing to work with the states on the actual rate increase filings and will communicate approved amounts as well as implementation dates when that information is available.
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Inforce LTCi Rate Adjustments Effective November 1, 2022
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective November 1, 2022: Impacted Policy Forms Impacted States LTC04G Mississippi, Wyoming LTC04I Mississippi, Washington, Wyoming LTC04I7 Mississippi, Washington, Wyoming LTC09M Mississippi, Washington, Wyoming LTC06UI Mississippi, Washington, Wyoming LTC09U Mississippi, Washington, Wyoming LT50, NH50, HCA, NHA & LTA North Carolina For details on yearly rate adjustment percentages, view the supplemental grid here. Policyholder Notification Process Policyholders will receive a letter notifying
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Inforce LTCi Rate Adjustments Effective October 1, 2022
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective October 1, 2022: Impacted Policy Forms Impacted States LTC04I Idaho, Maryland, New Hampshire, Texas LTC04I7 Idaho, Maryland, New Hampshire, Texas LTC09M Idaho, Maryland, New Hampshire, Texas LTC06UI Idaho, Maryland, New Hampshire, Texas LTC09U Idaho, Maryland, New Hampshire, Texas LTC04G Idaho, New Hampshire, Texas LT50, NH50, HCA, NHA & LTA Tennessee For details on yearly rate adjustment percentages, view the supplemental
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Inforce Long-Term Care Insurance Rate Adjustments Effective September 1, 2022
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective September 1, 2022: Impacted Policy Forms Impacted States LTC04I Arkansas, Connecticut, Louisiana, Oklahoma LTC04I7 Arkansas, Connecticut, Oklahoma LTC09M Arkansas, Connecticut, Louisiana, Oklahoma LTC06UI Arkansas, Connecticut, Oklahoma LTC09U Arkansas, Connecticut, Louisiana, Oklahoma LT50, NH50, HCA, NHA & LTA Delaware, Mississippi, Washington HCAQ, NHAQ and LTAQ Washington For details on yearly rate adjustment percentages, view the supplemental grid here. Policyholder Notification Process
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Lumico Medicare Supplement Rate Adjustment (Minnesota)
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
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Industry News, Lumico, and Medicare Supp./Adv..
Lumico, Med Supp, medicare, Medicare Supplement, Medigap, medsupp, premium, rate adjustment, and Swiss RE.
Lumico, Med Supp, medicare, Medicare Supplement, Medigap, medsupp, premium, rate adjustment, and Swiss RE.
Inforce Long-Term Care Insurance Rate Adjustments Effective August 1, 2022
Mutual of Omaha actively monitors our inforce long-term care business, filing rate adjustments when necessary to ensure we keep our promises to policyholders and remain competitive in the marketplace. We will be implementing the following inforce rate adjustments effective August 1, 2022: Impacted Policy Forms Impacted States LTC04G Wisconsin LTC04I Illinois, Iowa, Wisconsin LTC04I7 Illinois, Iowa, Wisconsin LTC09M Illinois, Iowa, Wisconsin LTC06UI Colorado, Illinois, Iowa, Wisconsin LTC09U Illinois, Iowa, Wisconsin LT50, NH50, HCA, NHA & LTA Idaho, New Hampshire, Pennsylvania, Texas, Wisconsin HCAQ, NHAQ and LTAQ Pennsylvania, Texas, Wisconsin For details on yearly rate adjustment percentages, view the supplemental
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Inforce Rate Adjustment New Quote Request Best Practices
After notification letters are sent, policyholders may choose to learn more about the options available to them for lowering premium. They should do so by contacting their agent or Mutual of Omaha’s customer service team. For policies issued 1987-2004, please call 1 (800) 228-7104 For policies issued 2004-2013, please call 1 (877) 894-2478 or email mutualofomahaltc@ltcg.com The expected turnaround time for quotes is 6-10 business days. If submitting a request through email on behalf of your client, please adhere to the following process: Submit the request to mutualofomahaltc@ltcg.com Ensure the subject line reads “Quote Request” followed by requester’s last name
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