The best dogs in the state of the Texas Medicare Supplement on the market get paid for their money. Two competing carriers took to the stage, and they cling to the top in most of the postal codes in Texas. Cigna, insured by a US retirement accident insurance company, and Manhattan Life have recently attracted the attention of Texas agents and consumers. With low premiums and fast processing, it is not surprising that these two carriers can so quickly collect a huge amount of new business and fame.
The American pension insurance company, a subsidiary of Cigna, began selling Medicare supplements in Texas in early February 2013. Last year, ARLIC set very competitive rates — improving the Texas Medicare Supplement landscape dramatically. Before the Cigna brand, only three carriers could offer the lowest premiums: Omaha Insurance, Oxford Life and Continental Life (Aetna). These carriers have their zip codes that they compete with. Your chances of getting more than 1 or 2 “good” rates in each zip code were low a year ago. You either have Omaha, Oxford, or Continental, along with one of the less competitive brands. They were subtle pike.
Now that Cigna has been added to the mix, consumers are finding better rates, as well as more options for choosing a quality carrier.
Cigna also offers a quick and easy application process, just like Manhattan Life. Thanks to the electronic application, agents can introduce a new business and save their customers money without effort. A new business is usually issued from 3 days to 2 weeks (they have questions on questions 3-5 days). Of course, it also depends on the time of filing an application - the days of open applications become more loaded, inevitably.
Because of their low-cost rates, Cigna saw a boom in demand. They quickly recruit more staff to keep up with the demand for their product. This growth in their company during the first year of business is unusual and can only mean success. If you are a consumer and are worried about the financial prospects of this company, it should reassure you that the low rates of ARLIC and the Cigna brand are here.
Located in Austin, Texas, ARLIC rates are very competitive for Travis County residents and surrounding areas. There are also several other “hot” areas, such as postal codes in and around North Texas. If you are a Medicare Supplement resident in one of these areas, it may be time to call an agent and check current policies.
ARLIC offers A, F, G, and N plans that are also available in 18 other states. You can check availability on the ARLIC website.
A later addition to the Texas Medicare supplement market is Manhattan Life. A few months ago, Manhattan Life did not sell in Texas. I was completely unaware of this company, to be frank. Then, slowly, I began to see how their name appeared in my quotes. And now, when I look at postal codes in Texas, Manhattan Life definitely ranks 5th in most areas, even the top 2 in some. I suspect that this will change (for the better) as they grow up next year.
Like Cigna, Manhattan Life is a reputable and financially sound carrier who is part of a larger family; Central United Life, Western United Life and Family Life are close relatives and trusted brands in the industry.
Along with Texas, Manhattan Life offers Medigap plans in AZ, GA, IL, IN, MI, MS, NC, NE, PA, SC, TN, TX and VA. Plans available for purchase include A, B, C, D, F, G, M, and N, offering a greater width than ARLIC (although not all are offered in every state).
Both Cigna and Manhattan Life are leaders in many areas around Texas. Although Cigna is still the number one of two, I suspect that Manhattan Life is targeting more specific niches, if it has not already done so. I also expect that both companies will develop in the next few years: does this mean that they stabilize their tariffs and focus on specific areas, and sometimes on Manhattan Life, pushing Cigna from the top point; time will tell.
Several consumers expressed concern about buying a policy from a new carrier, and then forced the carrier to “lure and switch”, pointing out the tariffs and leaving their customers stuck with large premiums. Although I will not guarantee anything, I do not think it would be a smart technique for any company. Remember that although their rates are low, they still compete with power plants that have been selling in Texas for many years. It will take them 5-10 years to get a solid reputation among such an overbearing competition.
Fortunately for consumers, the emergence of these new products only increases the rates in order to be more competitive. If you have never considered the issue of revising your policy, now is the time to call an agent, as carriers are fighting for your business more than ever.
