AMLC-129643674

Company: 

United American Insurance Company

Rdate: 

Mon, 08/04/2014 to Mon, 08/25/2014

Status: 

Approved

Approval_date: 

Wed, 10/22/2014

RATE FILING SUMMARY

United American Insurance Company  Group Medicare Supplement - Standard Plans

The Company is proposing a 3% rate increase on plans A, B and C.
 

United American Insurance Company – Plain Language Summary
2014 Group Medicare Supplement Rate Revision and Annual Loss Ratio Filing
Medicare Supplement Rates Changing in 2014

United American Insurance Company regularly reviews the experience of its Medicare supplement business to ensure it will be able to honor its commitment to pay claims. The premium rate increases are due mainly to: (1) increase in medical cost, (2) increase in utilization for medical care; and (3) increase in Medicare deductibles and co-payments that are covered under these plans.

Based on the actual and projected Medicare supplement experience, a premium increase is necessary to bring projected future claims, relative to projected premiums, in line with the target relationships approved by the Vermont Department of Insurance. United American Insurance Company has requested an overall premium increase of 3.0%.  The proposed increases have been filed with and will be reviewed by the Vermont Department of Insurance. This filing complies with the laws and regulations of the State of Vermont and will not be implemented until approved by the Department of Insurance.

The proposed rate increases by plan and form are shown in the table below.

Plan Proposed % Increase

  • A +3.0%
  • B +3.0%
  • C +3.0%

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