Colonial Penn Life Insurance Company, Individual Medicare Supplement - Standard Plans 2010.
Company is proposing a 15% rate increase for all plans.
Colonial Penn Life Insurance Company – Plain Language Summary
2012 Standardized Medicare Supplement Rate Revision and Annual Loss Ratio Filing
Medicare Supplement Rates Changing in 2012
Colonial Penn Life Insurance Company regularly reviews the experience of its Medicare
supplement business to ensure it will be able to honor its commitment to pay claims. Primary
factors impacting premium rates are the rising cost of healthcare and impact of claims
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.
The company has requested an overall premium increase of 15.0%. Claims experience has been
much higher than expected, requiring this increase. The proposed rate increases by plan and
form are shown in the table below.
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.
Plan Letter Form Name Rate Increase
A CPL‐GR‐A80A 15.0%
B CPL‐GR‐A80B 15.0%
F CPL‐GR‐A80F 15.0%
FH* CPL‐GR‐A80FH 15.0%
G CPL‐GR‐A80G 15.0%
K CPL‐GR‐A80K 15.0%
L CPL‐GR‐A80L 15.0%
M CPL‐GR‐A80M 15.0%
N CPL‐GR‐A80N 15.0%
• High Deductible Plan F
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