Lumico Medigap Solutions Is Live – What Agents Should Know

Lumico Medigap Solutions Is Live – What Agents Should Know
June 15, 2021

Lumico Medigap Solutions new Medicare Supplements, underwritten by Elips Life, are live! With an "A" Rating from AM Best and an initial rollout in 15 states, Lumico Medigap Solutions is an exciting launch for 2021.

Here are some key updates Lumico agents should know:

  • As of June 14, 2021, the new Elips Life Medicare Supplement is available for sale.
  • A 20 state footprint will be available for selling in 2021. 16 states will become available on 6/14/2021: AR, AZ, GA, IA, IL, IN, LA, MI, MS, NE, OH, OK, SC, SD, TN and TX. The remaining 4 states will become available for selling on 7/12/2021: DE, NC, ND and UT.
  • The new Elips paper is offering some of the lowest available premiums in the market.
  • The Household Discount (HHD) is increased to 12% (a 5% increase!). The HHD applies to both 1-buy and 2-buy scenarios – including the state of IL being updated to a 1-buy!
  • As of June 14, 2021, a new application will be used for both Lumico and Elips Life applications.

The new enhanced application will increase approvals 2-3%!

Here's a look at the application question changes:

  • Kidney disease stages 1 and 2 are now permitted; stages 3 to 5 are still declined
  • The permitted limit on hypertension medications has increased from 2 to 3. Now an applicant can be on up to 3 meds with underlying conditions and be approved
  • Height and weight have been moved from Section I of the application to Section III
  • The tobacco question now includes vape and nicotine gum/patch
  • Section IV of the application includes a new question focused on injectable medication treatments occurring within a physician's office

There is a 30-day transition period for new Elips states.

For states launching on June 14th, Lumico Life a-Apps are disabled as of the 14th. All Lumico Life e-Apps "in progress" as of July 14, 2021 will be expired. All Lumico Life paper applications must be completed or received by Lumico on or before July 13, 2021.

For Elips Life states launching on July 12th, Lumico Life e-Apps in those states will be disabled on the 12th. All Lumico Life e-Apps "in progress" as of August 11th will be expired. All Lumico Life paper applications must be completed and received by Lumico on or before August 10, 2021.

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