June 2002
 The LTC Road to Independence, Security and Choice  LTC: The Overlooked Coverage? The Power of Planning Handling Objections  Referral Power!  The Spirit of the Fairmount Scottsdale Princess 
 

Articles:
June 2002 Issue

Published monthly by United American Insurance Company for the dissemination of information to its Agents. Home Office permission must obtained prior to reproduction or other use of this material.

© Copyright 2002, United American Insurance Company,  McKinney, Texas
All rights reserved.

 

 Editor's Notes:
4 ProCare Rate Approvals
A special mailing regarding 2002 ProCare Medicare Supplement rates for new business and renewal rate information has been sent to General Agents in Colorado, Connecticut, Nevada, and North Dakota.  

Check your state(s) ProCare rate memo for complete effective date information and cut-off dates for business written with old rates. If you did not receive this notice, please contact the Agent Service Center at (800) 925-7355.
4 Medicare HMO Lock-in Update
On June 12, 2002 Congress passed the “Public Health Security and Bioterrorism Preparedness and Response Act of 2002.” In this legislation, the Medicare HMO Lock-in provisions for voluntary disenrollments were postponed until 2005. This means that as of June 12, 2002, the Open Enrollment Period is continuous through December 31, 2004 (beneficiaries can voluntarily enroll and disenroll from an HMO at any time). Another provision applies to involuntary disenrollments. This provision gives Medicare HMOs until the second Monday in September for the years 2002, 2003 and 2004 to submit information to the Secretary on whether they intend to continue in the Medicare+Choice program.
4 HMO Disenrollment Reminders
Remember these underwriting reminders when writing voluntary and involuntary Med-Supp business.
1. You may postdate apps with an effective date of 1-1-03, as long as they are written due to an involuntary disenrollment.
2. Clients who are eligible for a guaranteed issue policy are not underwritten.
3. Make sure to request a policy date which coincides with the client returning to traditional Medicare. UA can only pay claims when the client is back on Medicare.
4. Send in appropriate replacement forms, and a copy of the disenrollment letter (if involuntarily disenrolled).
4 Interest Rate Set
The Lifestyle Annuity new money interest rate for June is 4.50 percent.
Rates will continue to be reviewed and adjusted accordingly.
4 What’s New At Torchmark?
For the latest news and information on our parent company, Torchmark Corporation, be sure to check out our website at www.torchmarkcorp.com. Find out how Torchmark stacks up against other big businesses, read current news releases and link directly to other Torchmark subsidiaries. You’ll want to bookmark this site as one of your favorites. 
4 Medicare Guides Available
The 2002 Guide To Health Insurance For People With Medicare is now available to order from the Supply Department (see contact information lower right). Please place your orders if you have not already done so.
4 Underwriting Reminders For Underage Health Plans
As the cost of health insurance today rises by double digits and more and more company layoffs occur, there has never been a better time to offer basic supplemental protection. Keep in mind these underwriting rules: 
• Commission advances are only paid on monthly bank draft business. Other modes are paid as earned. 
• Advances are not paid on conversion policies nor will they be paid on policies issued on Agents or their family members.
• Be sure to include the proposed Insured’s personal gross premium check with the application. The check must be imprinted with the applicant’s name and address. 
• We will only advance commissions when drafting on a company account if the insured is the sole proprietor. If the name of the business and the insured don’t match, please send memo 
of explanation. 
• List bills are not allowed on underage business, nor can you sell our underage plans to groups or small businesses. You may write the owner of a small business and his immediate family members, but not the employees due to ERISA rules.
• When writing policies on more than one family member, separate voided checks and bank authorizations are required.
4 Attn: MI & MN Agents 
The app/brochures for the SSXC-C Surgical Supplement product in Michigan and Minnesota have been revised. Please order new supplies.
 

Current Issue  |  Archive  |  Contact Us