Pulling the Plug.. when to stop writing a carrier

UPDATE: 04-24-19: New Era Life has filed in many states to now adopt pre-existing condition limitations on Open Enrollment business, not paying for pre-existing conditions in cases where a person coming into open enrollment had no prior qualifying coverage. See the list of states (as of 4/24/19) here. In consultation with other top producers, Chris has decided to pull the plug on sending any new contracts or applications to two Medicare Supplement carriers. The first carrier that we will no longer be offering is New Era Life, also known as Philadelphia American Life. This decision is based on the in formation covered in depth in this post (16:00 mark in the video). See this background video. The second carrier is Oxford Life Insurance Company. Now, they are announcing 0% commissions on ALL Medicare Supplements sold in many states. This is a very bad indicator and we are pulling the plug. See the Oxford Life announcement here. Most agents quietly decide to no longer offer companies based in criteria like these.. we've decided to make it transparent to members so that can make your own decision. Update 06/05/17: In response to this post that a member here was kind enough to forward to Oxford, they have responded with the following communication: Your post stated we never came out with a Plan G which we do have in 22 states currently (launched in Summer 2016). It also states that we announced 0% commission on All Medicare Supplement sold in manystates. We stopped commissions in 5 of 27 states (CO, OR, GA, KS, PA). In 9 other states we reduced commissions to 0% onunder 65 disability only. For your downline, 5 of 41 policies would have been effected (2 in KS, 3 in OR and 1 in PA). "The reasoning for these decisions is that we were significantly anti-selected against causing significant loss ratios in these areas. Instead of withdrawing from a state which requires us to sit out for 5 years, we effectively make the product unappealing in those 5 of 27 states so we can adjust accordingly and re-enter once we believe it is ok to do so.

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