AHLIC will increase the household discount from 5% to 7% on Medicare Supplement plans issued in Ohio, Oklahoma, and South Carolina, effective June 15, 2015. Agents will be able to order updated sales materials (application, outline of coverage, and rate guide) starting June 15, 2015. Begin using the new materials immediately.
No action needed to get the higher discount.
Eligible applicants and existing policyholders will receive the increased household discount.
For new business, the 7% household discount will apply to new applications written on or after June 15, 2015. All pending applications that qualify for the discount will be issued at the new 7% discounted rate.
For existing policies issued with an effective date of July 1, 2015 or later (with premiums already paid AND where eligibility for the household discount was provided on the application), AHLIC will issue a new policy, which will include the higher household discount.
All other policyholders who previously received the 5% household discount will automatically receive the 7% household discount on their future premium that have a premium due date of June 15, 2015 or later.
Excess premiums, if any, will be applied to the policyholder’s future premiums. Commissions paid by the Company are based on the policy’s premium rate at policy issue.
Policyholders who have not verified eligibility for the discount (on their application) may contact Policyholder Services to complete a Household Discount Eligibility form (click here to download the form). Once approved, the appropriate discount will apply to their future premiums.
If you have any questions, give us a call at 877-512-9287 or send an email to firstname.lastname@example.org.
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