Both American Continentaland Genworth Financial have received approval for a rate adjustment on a specific (closed) block of Medicare Supplement policies issued in several of their states. The states affected in this rate adjustment are Ohio, Indiana, Illinois, Missouri, and Oklahoma. This increase will be effective on May 1, 2012 and June 1, 2012 depending on the Med Supp plan. The rate adjustment will become effective on the policyholder’s first Policy Anniversary Date that occurs on or after the effective date of the rate increase. All affected policyholders will be notified in writing no less than 30 days prior to the rate change. Please see below for the plans that will be affected in each state as well as the amount of the approved increase.
Indiana/Ohio
• Medicare Supplement Plans A, B, F, and J will increase 8% effective May 1, 2012.
• Medicare Supplement Plan D will increase 8% effective June 1, 2012.
Illinois
• Medicare Supplement Plans A, B, F, and J will increase 10% effective May 1, 2012.
• Medicare Supplement Plan D will increase 10% effective June 1, 2012.
Missouri
• Medicare Supplement Plans except Plan J will increase 12% effective May 1, 2012.
• Medicare Supplement Plan J will increase 12% effective June 1, 2012.
Oklahoma
• Medicare Supplement Plans except Plan J will increase 12% effective May 1, 2012.
• Medicare Supplement Plan J will increase 12% effective June 1, 2012.
