- On October 8, 2024
Topic: Medicare | Applies to: All including Medicare
Medical Mutual is excited to announce that it has opened a new block of Medicare Supplement business under its MedMutual Life Insurance Corporation. This addition will allow us to offer lower rates on their Medicare Supplement products. Members who wish to enroll must complete a new application and undergo medical underwriting. New policies will be effective on or after 1/1/2025. For more information on rates and regions, please see the following rate sheets.
Household Discount Reminder
Medical Mutual offers a 3.5% household discount for Medicare Supplement members who reside in the same household. Please note: to continue to receive the household discount, members who change coverage will need to restate on the application that they live in a household with another member. If you have eligible members, make sure they take advantage of the discount opportunity. Members can apply for the discount through MyHealthPlan or you can request it on behalf of your client via MyBrokerLink.
Additional Benefits and Reminders
All Medicare Supplement members have access to SilverSneakers® with their plans. This benefit offers access to over 17,000 gyms and fitness classes across the country. Medical Mutual also offers MedMutual Supplement Plus, which packages dental, vision and hearing benefits in one policy.
Commission Updates
If you’re currently appointed to sell with Medical Mutual, you’re automatically appointed to sell our new block of
Medicare Supplement products. We will be offering competitive lifetime commission for this product.
For Medicare Supplement contracts with an original plan effective date of January 1, 2025 and after:
Commission Rate
First Year: 21%
Years 2 through 6: 13%
Years 7+: 3%
(The above Medicare Supplement first-year commission rate will only be paid on sales to first-time purchasers of a Medicare Supplement policy.)
Replacement business will be paid as follows (this includes Medical Mutual business moved to the new pool):
Commission Rate
First Year: 13% (+8% Administrative Fee)
Years 2 through 6: 13%
Years 7+: 3%
The Administrative Fee for Replacement Contracts is in recognition of the increased costs associated with securing replacement coverage for members who are new to this Medical Mutual pool but who have had a Medicare Supplement policy with another carrier in the past.
If you have additional questions, reach out to your Medical Mutual Sales Representative for details.