Top 5 Medicare Supplement Carriers for the 2020/2021 AEP

Top 5 Medicare Supplement Carriers for the 2020/2021 AEP
September 29, 2020

As we all prepare for the 2019/2020 AEP, I’d like to share our Top 5 Medicare Supplement carriers. These are the carriers we have the most momentum with going into the fourth quarter.

5. CSO/Lumico/Manhattan Life

I'm going to group together Central States of Omaha (CSO), Lumico, and Manhattan Life. All three of these are connected with AIMC, whom we've worked with for years. All three of these carriers are rocking and rolling right now.

All of them give great cash bonuses, great service, great underwriting, and we've got a lot of momentum with all three of these.

So, that's our No. 5 spot – CSO, Lumico, and Manhattan Life.

Get contracted with CSO

Get contracted with Lumico

Get contracted with Manhattan

4. Mutual of Omaha

We've had our best year ever with Mutual of Omaha. Everyone knows them – they're a household name. They're rock solid with steady underwriting and great service, and they've kept their rates really solid.

Going into the AEP, No. 4 is Mutual of Omaha.

Get contracted with Mutual of Omaha

3. Great Southern Life

Americo/Great Southern Life is No. 3. These guys have been fantastic for us the last several years – they've really become good friends with us, and the agents that work with us love them. They have quick underwriting with the speedy red and green system for an instant decision.

They're just strong as ever going into the AEP. They have an awesome bonus, too – their UFirst Bonus is as good as it gets out there.

Get contracted with Great Southern Life

2. Capitol Life

Coming into the No. 2 spot is Capitol Life. These are folks we've known for quite a while. Capitol has come in strong this year with us. They've added the extra light on their underwriting process, where they have the red and the green, but they also have that yellow light. That allows us to pass it off to an underwriter but still get a speedy decision.

The rates are great, and the service is great – they've just slid into that No. 2 spot.

Get contracted with Capitol Life

1. Accendo/CVS Health/Aetna

Rounding it out at the top of the heap this year going into the AEP is Aetna and Accendo/CVS Health.

My gosh! What a year we've had with them. Thanks to you – with all of these carriers, obviously, it's because of you all.

But Aetna and Accendo together have been just a dynamic duo punch. With Accendo coming in in the spring, the CVS product, great service, fantastic rates, a giant discount on the Accendo deal... it's just all lined up at the right time, and our agents love working with them.

We have a huge, huge year going with them right now, and we don't see any slowing down going into the fall.

Get contracted with Aetna

Get contracted with Accendo/CVS Health

Conclusion

So, that's our lineup for the 2020/2021 AEP! The top 5 Medicare Supplement carriers for AEP this year are:

  1. Accendo/Aetna
  2. Capitol Life
  3. Great Southern Life
  4. Mutual of Omaha
  5. CSO/Lumico/Manhattan Life

If you’re writing any of these carriers this AEP, you truly are offering your clients the best options in the market. Don't forget to check out the cash bonuses on our incentives page, and also download the Med Supp Cash Bonus Tip Sheet, which is updated regularly.

Med Supp Bonuses

Best of luck this selling season, and reach out to us if you need any help or need to get contracted.

Related: The Beginner's Guide to Selling Medicare Supplements


Top 5 Med Supp Carriers For Previous AEP Seasons

2019/2020

Here were our Top 5 Med Supp carriers for last year's AEP.

5. Cigna

Number 5 would be Cigna. This is a carrier that we truly love. They have a team of leadership and support that is always there to assist you in the sales process.

They have that name brand recognition and have been a carrier we wished we were doing a lot more with. They have excellent prices and service, and I will also say they have one of the best e-apps. They were one of the first to make it more client and agent friendly.

Get contracted with Cigna

4. Mutual of Omaha

Number 4 is Mutual of Omaha, which is one of the few companies that has stood the test of time and has always been a leader in this market. Since they paved the way and have been doing this since 1966, they are often the measuring stick and the one that sets the tone.

Mutual of Omaha has a large footprint of states they are competitive in, and we always feel like they are the carrier you have to have in your portfolio. They also have stayed in the Individual long-term care market and that is huge bonus to have in the senior market.

Get contracted with Mutual of Omaha

3. Aetna

Number 3 is Aetna, which is the one carrier that changed everything.

Once they entered this market, they changed the entire landscape with underwriting, pricing, commissions and they made the entire market better for the consumer and the writing agent.

We are so excited to see their new pricing and with their complete portfolio of products, they are a company that can do everything for you.

Get contracted with Aetna

2. Capitol Life

Number 2 is a new one – Capitol Life. Starting October 1, Capitol Life can be written with a January 1, 2020 effective date.

Even though this is a new carrier, I expect it to really take off with our producers. The sister company is Liberty Bankers Life, and we have a very strong relationship with the leadership. Beyond that trust and confidence we’ve already established, their rates are going to be some of the most competitive, and there’s an innovative green, yellow, and red light underwriting system that I expect to be the best in the market.

Get contracted with Capitol Life

1. Great Southern Life

And finally, we have our Number 1 slot – Great Southern Life.

This carrier is our new tried-and-true with fantastic rates and also a lot of great perks for the writing agent.

You have the instant underwriting decision, easy e-app, 10% cash bonus, and an A rating from A.M. Best. This carrier really tops the charts for us, and we’re excited to see it grow and expand over this fourth quarter.

Get contracted with Great Southern Life


2017/2018

From competitive prices to superior customer service (and dare we say killer incentives and bonuses), these 5 Med Supp carriers are our picks for the 2017 AEP.

#5: Prosperity Life and Sentinel Security Life

These carriers aren’t related in any way, but we had to fit them both into our list.

They’re both regional players, so they aren’t available in a lot of states, but in the states they are in, they’re our top choices.

Sentinel has done a fantastic job.

  • They’re great people to work with,
  • They’re really accessible, and
  • They have a few underwriting niches that are nice to have.

Prosperity has one of the best Plan F rates in the states where it’s available. They’re also A+ rated.

#4: Manhattan Life and Western United Life

Western United Life is a sister company of Manhattan Life. Western United is new as it’s just come live in several states in the last few days.

Manhattan has fabulous rates and an unbelievably great bonus. Western United has the same bonus going on as well, and its rates are also very competitive.

The e-app is really easy to use, and it especially comes in handy this time of year.

#3: Aetna

Aetna has been a huge player for us for 5-6 years now. In some states, they’re extremely competitive.

The underwriting and rates have been stable, and they have the big brand name to back them up.

Aetna is definitely one of our favorite picks for this AEP season.

#2: Cigna

Cigna is really an up-and-comer for us this year. If you would’ve asked us last year if they’d be in our Top 5 list, we wouldn’t have believed it. There were a lot of service issues that came up with their huge growth last season, but they’ve made leaps and bounds since then.

They’ve made major improvements, especially with customer service. You can call with a prequalify now and talk with someone in 30 seconds.

  • They’re just doing a great job,
  • Their rates are really competitive, and
  • Their e-app is awesome.

You can easily cross-sell with that e-app by just checking a box to add on ancillary products.

#1: Central States Indemnity (CSI) Life

CSI have been our number 1 for about the last 4 years.

  • They’ve consistently done a great job with service,
  • Underwriting is consistent, and
  • The rates are competitive.

They’ve just done a great job at keeping those rates stable.

CSI Life is number 1 for us going into the 2018 fall selling season.

There you have it – our Top 5(ish)! We pretty much have all the Med Supp carriers, but these are our top choices for the 2017 AEP season.

Good selling!

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