New Medicare Supplement Competition in Texas

The top dogs from the Texas Medicare supplement market now get a run for their money. Two competitive carriers have taken the stage and are struggling to the top in many Texas postal codes. Cigna, insured by American Retirement Life Insurance Company, and Manhattan Life have recently caught the eyes of Texas agents and consumers. With low premiums and speedy processing, it’s no wonder that these two carriers are rapidly gaining tremendous amounts of new business and awareness.

American Retirement Life Insurance Company, a Cigna subsidiary, began selling Medicare supplements in Texas in early February 2013. Over the past year, ARLIC has delivered highly competitive pricing – dramatically improving the Texas Medicare supplement landscape. Only three insurers were able to offer the lowest premiums before the Cigna brand: Omaha Insurance, Oxford Life and Continental Life (Aetna). These carriers have their own postal codes, which they pursue competitively. Their chances of getting more than 1 or 2 “good” rates in each postcode were low a year ago. They have either Omaha, Oxford or Continental alongside one of the less competitive brands. They were thin pickins.

Now that Cigna has been added to the mix, consumers will find better rates and more options for choosing a quality carrier.

Cigna also offers a quick and easy application process, as does Manhattan Life. An electronic application enables agents to conduct new business and effortlessly save their customers money. New business is usually issued between 3 days and 2 weeks. Of course, this also depends on the season in which the application is submitted – open enrollment months are inevitably busier.

Due to its low prices, Cigna experienced a boom in demand. They are rapidly hiring more staff to keep up with demand for their product. This growth in your company in the first year of the business is exceptional and can only be successful. If you are a consumer and are worried about the financial prospects of this company, you should be aware that the low rates of ARLIC and the Cigna brand are enduring.

The ARLIC fares are located in Austin, Texas, and are highly competitive for the residents of Travis County and the surrounding area. There are also a few other “hot” areas, such as: for example, postcodes in and around North Texas. If you are a Medicare Benefit Insurer who lives in one of these areas, it may be time to call an agent and have your current policy reviewed.

ARLIC offers Plans A, F, G and N, which are also available in 18 other states. You can check the availability on the website of ARLIC.

A younger addition to the Texas Medicare supplement market is Manhattan Life. Manhattan did not sell Life in Texas a few months ago. I did not know anything about this company, to be honest. Then, slowly, I started to see her name appear on my quote engine – and now, when I search for Texas zip codes, Manhattan Life is definitely Top 5 in most areas, even top 2 in some. I suspect that will change (for the better) if they grow next year.