Good news regarding our Dental Portfolio – with three years under our belt, we have a few exciting items to communicate.
Rate Reduction on Our Mutual Protection Plan
We are looking at our first rate change since we launched our Mutual Dental Preferred and Mutual Dental Protection products. These actions will improve our competitive position and ultimately provide a unique value to our Med supp policyholders. As follows:
- 10% decrease on our Protection Plan (DNT5)
- Rate hold on our Preferred Plan (DNT2)
For any DNT5 policies written prior to 10/1 – the rate decreases will adjust (going forward) at the next premium renewal date, post 10/1 or future dates. These specific dates are indicated on the Dental Rate Reduction and Multi-Policy communications that have gone out in Broker Express.
But there is more!
Multi-policy Discount
We are also pursuing a multi-policy discount when either of our dental policies is written with our Med supp policy. The discount is as follows:
- 15% discount on the dental premium when the dental application is signed between:
- The Med supp application signed date, and
- 30 days after the Med supp issue date
Keep in mind, existing policyholders will receive the discount moving forward if they would have qualified at the original time of issue.
While we are filing the rate adjustments and multi-policy discount in all states where we have the dental product with a targeted implementation and effective date of October 1st, implementation is dependent on state approval. Most states have approved our rate adjustments and multi-policy discounts. We are waiting on state response from a handful of states, still. However, we will continue communicating states’ reductions and discounts, as they approve and become effective.