Mutual of Omaha’s sales volume is coming back up and nearly 60% of sales are now Plan G. They have most definitely priced themselves to be most competitively there but there is something else going on to account for the growth. Agents and their customers are just getting used to the value in Plan G. Plan G is identical to plan F, with just the two exceptions. One, Plan G does not pay the $147 annual Deductible and two; Plan G can save your clients more in premium than the $147 deductible cost. That’s easy math and an easy story to tell your clients.
What’s more, we think the Plan G rates are going to be more stable in the long run than Plan F because carriers don’t have to offer plan G to Guaranteed Issue group plan disenrollees or people opting from a Med Advantage plan to a Med Supp during the Annual Coordinated Election Period (AEP). This can make for a healthier, more stable block of business than a Plan F block which can bring even more savings to your clients over the long term.
Lastly, not all agents are dialed in to Plan G which means a lot of consumers haven’t really been told about these advantages. This can give you a great opportunity when you are talking to seniors who don’t yet have their coverage through you.
If you haven’t checked out Mutual of Omaha’s rates, now’s a great time to do so. In most states, they are the lowest ones out there.