Everest Rate Action in AL, AZ, CO, IA, MI, TX and VA

August 28, 2018

Everest, Incentives, Rate Increases

GREAT NEWS! Rates Hold Steady on Plans G & N

Adjustments on Plans A, C, D and F

Everest’s “We Love Summer CASH!” Agent Bonus program has yet another month remaining for our Brokerage and Agency distribution channels.  An announcement will be made soon about a Q4 Agent Bonus program.  The current program is meant to encourage Underwritten business as well as an added incentive to submit via E-APP.  Please see general details on the attached or contact your Field Management Office (FMO) or Direct Reporting Manager.  NOTE:  July qualifier payments to go out this week.

Because Everest has a valid license on file for you in the state noted above, you are receiving this notice.  Everest obtained state approval for rate adjustments as noted below in the states of Alabama, Arizona, Colorado, Iowa, Michigan, Texas and Virginia.  These are Everest’s 1st rate adjustments in these states since our product was originally filed and released (prior area factor reductions were previously applied in Arizona and Iowa).  As of October 1, 2018, rate adjustments will be 0% on Plans G and N and various increases on the other plans as noted below.  If you cannot view this announcement, please open the attached “Everest Announcements…” document.

 KEY POINTS:

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

SUPPLIES:

With this rate adjustment approval, Everest is updating the Rate Packets on its State Forms/Documents (Supplies) web portal folder for the applicable states – these updates should be completed in the next 72 hours.  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

 

 

October 1, 2018 Alabama Rate Adjustments
Ages Plan A Plan C Plan D Plan F Plan G Plan N
All Ages 5% 12% 4% 9% 0% 0%
             
October 1, 2018 Arizona Rate Adjustments
Ages Plan A Plan C Plan D Plan F Plan G Plan N
All Ages 5% 12% 4% 9% 0% 0%
             
October 1, 2018 Colorado Rate Adjustments
Ages Plan A Plan C Plan D Plan F Plan G Plan N
All Ages 5% 12% 4% 9% 0% 0%
             
October 1, 2018 Iowa Rate Adjustments
Ages Plan A Plan C Plan D Plan F Plan G Plan N
All Ages 5% 12% 4% 9% 0% 0%
             
October 1, 2018 Michigan Rate Adjustments
Ages Plan A Plan C Plan D Plan F Plan G Plan N
All Ages 5% 12% 4% 12% 0% 0%
             
October 1, 2018 Texas Rate Adjustments
Ages Plan A Plan C Plan D Plan F Plan G Plan N
All Ages 5% 6% 4% 9% 0% 0%
             
October 1, 2018 Virginia Rate Adjustments
Ages Plan A Plan C Plan D Plan F Plan G Plan N
All Ages 5% 12% 4% 9% 0% 0%