Mutual of Omaha Sells Medicare Advantage Plans to Essence Healthcare

A message from Mutual of Omaha:

 

Today we are announcing that Mutual of Omaha has reached an agreement in principle for Essence Healthcare, the sister company of Lumeris, to acquire Mutual of Omaha’s Medicare Advantage plans.

Since 2018, Mutual of Omaha and Lumeris have forged a strong relationship, collaborating with healthcare providers in five select markets to introduce Medicare Advantage plans that bring together payers, providers and patients.

As we evaluated our enrollment experience and changing market dynamics, we determined that an acquisition of our Medicare Advantage plans by Essence Healthcare is in the best interest of our customers, our networks and our company.

This change in ownership will allow our current MA policyholders to benefit from Essence Healthcare’s longstanding reputation for providing high-quality, affordable plans, while also ensuring a smooth and seamless transition for our customers by offering the same core plan functions. This also allows Mutual of Omaha to take a step back and reassess the company’s strategic approach to MA, as we seek to meet the holistic healthcare needs of senior consumers.

Mutual of Omaha will work with Essence on a definitive sale agreement over the coming months and we expect the transaction to be completed mid-year.

There are no immediate changes for you and your distribution. We will continue to keep you updated as the change in ownership becomes finalized. For now, it’s business as usual.

It’s important to note Mutual of Omaha remains firmly committed to meeting the healthcare needs of senior consumers. We have been a leading provider of Medicare supplement insurance for more than 50 years and we will continue to offer Med Supp, dental and vision coverage, as well as our new Medicare Part D prescription drug plans.

 

Click here to find an FAQ to help answer some of your questions.

 

Contact your Cornerstone Senior Marketing representative for more information.

 

Mutual of Omaha Updates

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Mutual of Omaha Update – PDP commissions delayed, and more.

An Update on PDP Compensation

In April of 2019, we communicated that Prescription Drug Plan (PDP) commission payments would be paid on the 20th of each month. As such, the January renewal compensation for prior year plans (that were not replaced) was scheduled to be processed on January 20, 2020. Additionally, commission for plans issued during the 2020 Annual Enrollment Period (AEP) with effective dates of January 1, 2020, were also scheduled to be paid on January 20, 2020.

Due to unforeseen circumstances, the PDP January commission files will be delayed 2-weeks until February 7, 2020. The commission payment being made on February 7, will include 2020 renewals for the month of January as well as January 2020 new enrollments. We will resume regularly scheduled commission payments on February 20, 2020 and each month going forward. That is, the February commission file will run on schedule.  Only the January process is impacted.

This is isolated incident and should not impact future PDP compensation. We apologize for any inconvenience that this may cause you and appreciate your patience.

 

READ MORE PDP Case Monitoring update PLUS Contact Information for MA and PDP