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Medical Mutual Medicare Supplement Review

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Medical Mutual (includes: Medical Mutual of Ohio, Medical Mutual, Consumers Life Insurance Company, Carolina Care Plan, Mutual Health Services and Medical Mutual Services) is a non-profit mutual organization that concentrates on taking care of their policyholders instead of stock holders. It started in Ohio in 1934 and has since expanded to several other states making it one of the oldest insurance companies in the U.S. Medical Mutual is also the oldest and largest health insurance company in Ohio, and one of the oldest in the United States.

In today’s volatile market with the introduction of the Affordable Care Act, the government has imposed many new restrictions on Medicare benefits and minimum requirements have forced some health insurance companies to out of the Federal Marketplace. Medical Mutual remains one of the most stable health insurance companies in the nation, and has expanded to Michigan, West Virginia, Pennsylvania, Georgia, Indiana and South Carolina.

By the end of 2011, Medical Mutual had absolutely no debt, assets of $1.6 billion and over 1.5 million policy holders. They do not pay agencies like A. M. Best or Weiss to financially rate them because those indicators at times, can conflict with the basic principal of a mutual company, which is do what’s in the best interest of the policyholder. From time to time an independent agency will assign a rating based on financial statements filed with the departments of insurance.

Why consider the Medical Mutual Medicare Supplement?

Medical Mutual Medicare rates are extremely competitive and one of the best Medicare Supplement companies. In Ohio, there is only one rate per age. It makes no difference if you are male or female, a tobacco user or just not quite in perfect health. Most companies in charge a different premium based on gender and tobacco status. Once you have be approved and issued, there is no pre-existing waiting period.

If you enroll any time other than your Medicare Open Enrollment or a Guaranteed Issue period, some companies impose a 3 to 6 month waiting period to pay claims on anything you were treated for in the recent past. Even though you passed all the health questions and/or qualifications, your claims may not be covered in the beginning when you have a waiting period.

Medical Mutual offers plans A,C,F, High Deductible F (HDF), G and N. So when a senior is looking to compare companies and are shopping for a Medigap plan, some companies offer additional benefits or “value added services”.

Sample Medicare Supplement Rates in Central Ohio as of 6/01/2106

AGE Plan A Plan C Plan F Plan Plan G Plan N
HDF
65 $81.77 $142.02 $143.45 $50.21 $126.24 $100.42
67 $89.30 $155.09 $156.66 $54.83 $137.86 $109.66
70 $100.45 $174.47 $176.23 $61.68 $155.08 $123.36
75 $121.03 $210.22 $212.34 $74.32 $186.86 $148.64

Staying Healthy

When you become a Medical Mutual policyholder, you are automatically entitled to a Silver Sneakers membership at no additional cost. This gives you access to over 13,000 fitness centers throughout the nation. If you’re a traveler, snow bird or just someone who just wants a little variety, feel free to go to as many facilities as you like, as often as you like.

Medical Mutual is committed to keeping you healthy and this is a huge cost savings to the policyholder. A gym membership can cost about $300 to $500 per year per person that is just savings into your pocket. There are many facilities including the YMCA, Curves and other community centers even when you’re out of town on vacation. Call Silver sneakers directly to find out if your area fitness center is part of the plan at (888) 423-4632 or go on line to silversneakers.com.

Get in when you are first eligible! Not everyone will qualify for the Medical Mutual but they are a great company to look at for a number of underwriting reasons. In other words, if you have some health conditions that other companies would not accept you, or YOU don’t think you’re healthy enough, talk to your independent agent about this possibility.

Medical Mutual of Ohio statistics as of January 1, 2016:

0% average change in Medicare Supplement rates over the past 5 years and The Better Business Bureau has no reports of any government actions. Medical Mutual has earned 3.68 stars our of 5 with the BBB who gives them an A+ rating.

Factors that raised the rating for Medical Mutual of Ohio include:
• Length of time business has been operating
• Complaint volume filed with BBB for business of this size
• Response to 32 complaint(s) filed against business
• Resolution of complaint(s) filed against business

Medical Mutual ratingsIn addition to being the largest and oldest health insurance company in Ohio, Medical Mutual also supports many charitable organizations by making financial contributions, volunteerism and sponsorships in the communities they serve. One their very important and core values is the development of a diverse workforce recruiting from local communities and offering internships. They claim to interview at least one female and one minority for every middle management and senior level executive. Nearly half of all interns are minorities, many executives and other employees participate in the mentor programs for low income young adults who wish to pursue an education.

Every year in Cleveland, Columbus and Toledo, Medical Mutual honors and recognizes senior citizens who selflessly devote their time and caring to There have been over 1,500 seniors across Ohio whose active volunteerism and personal sacrifice since have been saluted since the early 1980’s.

Health Conditions that Medical Mutual may consider

• Hospital confinement in the last twelve months for 5 consecutive days or less, or more than 2 times in last 24 months.
• Use of a walker
• Been told by a medical professional that you will need to be admitted to any facility within the future but not within the next 6 months.
• Diabetes without complications such as neuropathy or glaucoma
• Vascular disease
• Kidney Disease without dialysis
• Pulmonary embolism and asthma
• Multiple Sclerosis or ALS (amyotrophic lateral sclerosis)
• Hepatitis
• Dementia

Health Conditions that will automatically be declined
(Includes all of the following conditions that you thought you should have sought medical treatment for, been treated or tested for or have future surgery recommended for in the last three years)

• Currently hospitalized or confined to a Nursing or extended care facility, or confined for more than five days in a row.
• Medically advised you will be confined to a hospital, nursing or extended care facility within the next six months.
• TIA or Stroke in the
• Emphysema or any form of COPD (Chronic Obstructive Pulmonary Disease)
• HIV, AIDS or ARC treatment or diagnosis
• Alzheimer’s Disease
• Mental Disorders
• Cirrhosis of the liver
• Internal Cancer or Malignant Melanoma
• Kidney Dialysis
• Joint Replacement or a bone disorder
• Confined to a wheelchair

 

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