01/11/2012
Rates for all Medigap (Medicare Supplement) plans increasing for the 2012 renewal year
We will increase rates for all Medigap (Medicare Supplement) plans for 2012. The increase is based on a financial analysis of all our Medigap plans and has been approved by the Washington State Office of the Insurance Commissioner. Claims costs are the primary driver of rates; costs associated with administering the plans also factor into rate adjustments. The increases, which are outlined below, will be effective with the annual March 1 renewal. Rates will continue unchanged until March 1, 2013.
Last year, members received a rate pass with no change from their March 1, 2010, rate renewal.
Increases effective March 1, 2012:
- Pre-standard — 9.5%
- 1990 and 2010 Standard plans (including SelectMed) — 9.7%
Notice of Rate Change Letters (NORC) are scheduled to be mailed to our members the week of Jan. 23.
Sample Letters:
Letters to all Medigap plan members include a reminder about the convenience of using Surepay (automatic bank withdrawal) and making quarterly, semi-annual and annual premium payments. Letters also refer to discounts for these payment methods. Those discounts are available only on Regence Bridge plans (2010 Standard plans); the discounts aren't available for the Pre-standard and 1990 Standard plans. Payment plan discounts, or no discounts, are reflected in member premiums.
We also encourage members to take a look at myRegence.com. Access to our award-winning website is free to our members and is an integral part of the quality of our plans and service. Please ask to see a demonstration if you aren't already familiar with the robust set of tools and resources the site has to offer.
We appreciate your role in helping Medicare members understand their health care options.
If you have any questions about our 2012 Medigap rates, member letters or support resources, please call Individual and Medicare Sales Producer Support at 1 (800) 557-0555 or your Regence Individual sales executive.
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