Combined Insurance Medicare Supplement Review
Rates and Facts About Combined Insurance Medicare Supplement
Rates, rates, rates! Combined appears to be aggressively trying to increase the number of Medicare Supplement policies. That’s great news for anyone price shopping plans. Right now they have some of the lowest rates in the states they offer coverage, so if your rates have increased with another company significantly, this may be a great option for you. Their rates for turning 65 are also extremely attractive for the F plan, more so than A or N in Ohio. The have quickly become one of the best Medicare Supplement companies.
We did notice an interesting selection of plans offered in certain states. For example in Ohio the plans offered are A, F, and N. They may be holding off on the G plan in certain states for future launches to curb claims and gain a marketing edge. Plan G is not a plan that is available to Guaranteed Issue applicants during a Special Enrollment Period (SEP).
Combined offers plans A, B, C G, F and N. Each state offers a different selection of the mentioned plans and only California and Kentucky offer a 6% household discount. They are currently available in the following states:
Alabama
California
Georgia
Illinois
Indiana
Kansas
Kentucky
Louisiana
Montana
Mississippi
Montana
North Carolina
New Jersey
Ohio
Oklahoma
Pennsylvania
South Carolina
South Dakota
Tennessee
Texas
West Virginia
If you are not in the Medicare Part B Open Enrollment period or a Guaranteed Issue Period, then you will have to pass the medical guidelines. Medical underwriting helps to protect the financial health of both the company and the policy holder.
The agent first makes a primary assessment if an applicant should be able to determine if the application should be submitted. After the application has been submitted, it is reviewed for completeness and correctness.
Depending on the information provided on the application along with the data collected from the a prescription history report, an applicant may get a call to complete a telephone interview. In addition, they may also order a MIB (Medical Information Bureau) report and possibly order medical records.
As always, the first thing an applicant needs to pass are the height and weight guidelines. The next thing is to be able honestly answer NO to all the health questions. There is no grey area with their application. If one of the questions is answered YES, our independent agent needs to look for another company. Remember, this is to protect the policy holders who already have the Medicare Supplement with Combined Insurance.
Stability in medications is a key factor when considering the Combined Medicare supplement. You must not have had any increase or new medications added in the past six months to be considered for coverage. If a medication was decreased or eliminated, there is no need to wait.
You should not apply for coverage if you cannot meet any of the following guidelines
• Currently hospitalized, living or recuperating in a nursing or rehabilitation facility
• Confined to a wheelchair
• Diagnosed with any chronic pulmonary disorder including COPD or emphysema
• Diagnosed with Alzheimer’s disease, Senile Dementia or any cognitive or memory disorder
• Diagnosed with HIV/AIDS/ARC
• Diagnosed with Parkinson’s, Systemic Lupus, Cirrhosis, Myasthenia Gravis, Multiple or Lateral Sclerosis or kidney disease with dialysis
• Been advised to have an organ transplant
• Have Diabetes and use insulin
• Been advised that you may need to have surgery the next 12 months for cataracts
If you have had any of the following treatments, surgeries, or advised to have treatment in the last 2 years for the following, you will need to wait to apply.
• Cancer
• Heart attack, heart disease, coronary or carotid artery disease, congestive heart failure, enlarged heart, peripheral vascular disease, or a heart rhythm disorder
• Stroke or TIA
• Alcohol or drug abuse
• Amputation as a result of a disease
• Mental or nervous disorder with the use of a psychiatrist
• Been hospitalized more than 2 times in the last 24 months
• Diabetes with neuropathy, glaucoma, kidney insufficiency, circulatory or peripheral vascular disease, or skin ulcers
The health condition niches seem to be diabetics not using insulin, cancer and treatments or surgeries after 2 years, and recent hospitalizations. These conditions typically would not pass other companies.
Combined Insurance Company of America began in 1922 with W. Clement Stone who borrowed $100, and rented a desk for $25 a month in Chicago Illinois. Stone is the father of the “PMA”, a highly recognized philosophy to many, especially to those in the individual sales profession.
In 1919 W. Clement Stone started the Combined Insurance Company of America, and by 1930 he had over 1000 agents working under him. A number of years later in 1962, he released the highly acclaimed book The Success System That Never Fails and began spreading the word of Positive Mental Attitude (PMA).
Not long before Stone passed away, he explained the importance of PMA. “A positive mental attitude is necessary for achieving worthwhile success. We in America know what it is for us, for we have inherited the tenets of the Judeo-Christian faiths on which our Constitution, laws and customs have been based…. Strive to understand and apply the Golden Rule…. Believe that any goal that doesn’t violate the laws of God or the rights of your fellow men can be achieved….”
Today, ACE Limited is the parent company of Combined Insurance Company of America, and reinforces Stone’s commitment to timely paid claims and customer service excellence. Combined has proven to be a solid, reliable insurer for many years and has maintained it’s autonomy with W. Clement Stone’s ideals and sales system.
For more information and details about qualifying for the Combined Insurance Medicare Supplement, please contact our independent agents at 614-402-5160 to evaluate your situation.