MA Plan Terminations Affecting More Than 77,000 New York Members

MA Plan Terminations Affecting More Than 77,000 New York Members

MEMO

To:

General Agents in New York

From:

Charles Mankamyer – President of General Agents
Jim Savo – FLMI, Vice President of Operations, General Manager

Re:

MA Plan Terminations Affecting More Than 77,000 New York Members

Based on data from the Centers for Medicare and Medicaid Services (CMS), several Medicare Advantage (MA) carriers across the US are terminating Medicare Advantage plans at the end of 2016. Our actuaries have projected that more than 242,000 MA members will lose their MA coverage at the end of the year, including 77,000 New York members. (Click here to view a list of the affected Counties.)

Seniors affected by the terminations have the option to switch to Original Medicare and choose a Medicare supplement for their 2017 coverage. For Seniors who are losing their coverage, this is a great time to educate them on the advantages of a Medicare Supplement policy that is guaranteed renewable* for life, with no provider networks to contend with.

First UA offers Medicare Supplement plans that are always guaranteed issue.

As a reminder, a copy of the Termination Notice from the MA carrier is required for those involuntarily losing MA coverage. Remind prospects not to discard any notices received from their MA plans.

Detailed rate cards, which include all plans, rates, and pay modes, are available for download on the Agent website. Please contact Agency Service at 315-451-7975, or 1-800-925-7355 or email agencyservice@torchmarkcorp.com with questions.

* As long as premiums are paid on time.