Everest Announcements: Rate Action in MO

October 17, 2018

Everest, Rate Increases

Adjustments on Plans A, C, D, F, G and N

RATE ACTION in Missouri:  Rate adjustments, as noted in the chart below, have been approved for December 1st, 2018, implementation in the State of Missouri.  The rate increases are necessary to account for adverse experience, medical provider reimbursement rate increases, utilization changes, medical cost shifting, and new medical procedures and technology. The rate change for under age 65 is based on Missouri’s requirement for calculating under age 65 premium rates. The area factor rating structure remains the same.  Keep in mind Everest does provide an initial 12-month rate guarantee, so these rate adjustments will be applied on the next premium due date after the initial rate guarantee period (some examples):

  • If a policy was effective on 10/1/2017, they will see a premium rate increase on their next premium due date
  • If a policy was effective on 1/1/2018, they will see a premium rate increase on 1/1/2019
  • If a policy was effective 6/1/2018, they will see a premium rate increase on 6/1/2019.

KEY POINTS:

For December 1, 2018 Rate Adjustment

  • For applications with an effective date PRIOR TO December 1, 2018:
    • The current “old” premium rate will apply
  • For applications with an effective date ON OR AFTER December 1, 2018:
    • The rate used will depend on the signature date:
    • For applications signed PRIOR TO November 1, 2018, the current “old” premium rate will apply
      • NOTE:  For those application where you wish to retain the current “old” premium rate, all applications must be received BEFORE Thursday, November 1, 2018
    • For applications signed ON OR AFTER November 1, 2018, the “new” premium rate will apply
  • The Agent Portal E-APP will quote the current “old” premium rate through October 31, 2018.  As of November 1, 2018, the “new” premium rate will be implemented for a December 1, 2018, or later requested effective date.

SUPPLIES:

With this rate adjustment approval, Everest is updating its State Forms/Documents (Supplies) web portal folder for the applicable states – these updates should be completed in the next 72 hours.  Attached is the revised Rate Packet.  As always, contact your Field Marketing Organization (FMO) for paper supplies or access the website to download/print forms on your own.

 

  • An updated “2018 Rates” packet will be accessible as a stand-alone packet
  • NOTE:  The “2019 Outline of Coverage” will be accessible after the Center for Medicare and Medicaid Services (CMS) announces the new deductible/coinsurance changes for the year

DECEMBER 1, 2018 Rate Adjustment

December 1, 2018 Missouri Rate Adjustments

Ages

Plan A

Plan C

Plan D

Plan F

Plan G

Plan N

65+

12.0%

12.0%

12.0%

12.0%

12.0%

12.0%

Under 65

11.8%

11.8%

11.4%

11.6%

9.2%

11.2%

Weighted Average

12.0%

12.0%

12.0%

12.0%

12.0%

12.0%

On August 27, 2018, Everest previously communicated to applicable licensed agents the state approved:

October 1st rate adjustments for:  Alabama, Arizona, Colorado, Iowa, Michigan, Texas and Virginia.                             

On September 19, 2018, Everest previously communicated to applicable licensed agents the state approved:

November 1st rate adjustments for:  Kentucky and Nebraska; and

December 1st rate adjustments for: Mississippi and North Carolina.

On October 12, 2018, Everest previously communicated to applicable licensed agents the state approved:

December 1st rate adjustments for:  Tennessee; and

January 1st 2019 rate adjustments for: Louisiana.