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An
Agency Directive from Equitable Life & Casualty
Agency Directive #1396
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TO:
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All Equitable Agents in Pennsylvania
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DATE:
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April 20, 2018
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SUBJECT:
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PA- Rates on Modernized Medicare Supplement Plans (Series
2070)
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We recently filed with the state insurance department for a rate adjustment
to our Modernized Medicare Supplement plans (Series 2070). We will begin
notifying policyowners of their new rates soon and wanted you to have
advance notice.
The Modernized plans we are currently marketing are receiving a 10%
increase for plans A, B, G, and N and 12% for plan F. The effective date
for this rate increase will be 6/01/2018. Applications dated and postmarked
after 5/31/2018 must be submitted with the new rates.
Outlines of Coverage with the new street rates for the Modernized plans
(Series 2070) are now available for you to order as needed. Supplies can be
ordered or downloaded from your secure agent website – www.EquiLine.com.
Equitable strives to ensure that our policyowners enjoy true "freedom
of choice" in their health care under Medicare while federal lawmakers
continue to ignore the need to reform this entitlement program to meet the
future needs of an increasing beneficiary population. Consequently, we are
ever mindful of our obligation to keep our promise of freedom of choice to
our policyowners and at the same time sustain these blocks of business with
adequate premiums over their lifetime.
We intend to maintain our continuing commitment to our policyowners of
providing them with the very best in insurance protection along with the
superior, friendly personalized customer service they and you have come to
expect and rely upon.
Attached is a copy of our letter to policyowners. If you have questions,
please contact Agency at 800-352-5121 or Policyowner Service at
800-352-5160.
Sample letter to policyowner:
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Date
Name
Street Address
City, State Zip
Re: Medicare Supplement Policy: #1234567
Dear [company] Policyowner:
There continues to be a number of recommendations for changes to Medicare
that aim to help control the rising costs of that program. However,
little has been done to control the rising cost of health care itself.
Medical costs continue to rise, which means we all continue to pay more
for our health care. As health care costs go up so must the cost of
insurance in order for us to keep providing benefits to you and all
[company] policyowners.
After review by your state insurance officials, new premium rates have
been filed for all Medicare Supplement plans in your state. Effective
[date], your premium will be [$xxxx].
Your Medicare Supplement plan puts you in control of your health care,
giving you the freedom to get your health care services from any doctor,
clinic or hospital of your choice that accepts Medicare patients. Equally
important is that your policy is guaranteed renewable for your lifetime,
which means that if you pay your premium on time your insurance coverage
cannot be taken away.
Trying to control the cost of health care, especially for our growing
senior American population, is proving to have no easy fix. That is why
your Medicare Supplement plan is more valuable to you today than ever
before. And, as a valued member of The [company] Family, we remain
committed to giving you only the finest in fast, friendly, personalized
customer service.
If you have any questions, please contact your agent, or call Policyowner
Service, toll free, at [phone number] between 9:00 a.m. and 7:30 p.m.,
Eastern Time, and we will be happy to help you.
Sincerely,
Policyowner Services
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