IMPORTANT CHANGES COMING: Mutual of Omaha 2021 PDP’S

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Per Mutual of Omaha press release on September 8, 2020:

Coming Changes in PDP Plan Offerings for 2021

For the 2020 plan year, Mutual of Omaha Rx offers two Prescription Drug Plans – the Value and Plus plans. For
2021, we will continue to offer the Plus plan but will be ceasing the Value plan and introducing a new low premium
plan called Premier.

We are discontinuing the Value plan due to poor claims experience, which would have forced us to increase
premiums significantly in 2021. These premium changes would have made the Value plan uncompetitive.

 

READ FULL PRESS RELEASE

Mutual of Omaha’s Ready to Sell Status Monitoring Now Available on SPA

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Mutual of Omaha announcement from 8/31/2020:

 

What is New?
Recently, we enhanced the user experience on Sales Professional Access (SPA), to include the ability for you to be able to see your Ready to Sell Status for Mutual of Omaha Rx Prescription Drug Plans. This enhancement will give all levels in a hierarchy, for PDP, line of sight to their Ready to Sell status. This status update will include items that may be missing or need to be completed, in order to successfully be Ready to Sell.

How Can the RTS Status Be Viewed?
Once you log into SPA, on the homepage, you will find a Reports tab. Clicking on the Reports tab will take you to a Case Monitoring link. From the link, you or an upline can click on the “My Status” link to bring up the detailed RTS Status page for the current SPA profile. This information includes your Producer Number, NPN, Producer Name, Ready to Sell Status, AHIP/Compliance status, and Product Training status.

If you have not completed a portion of the steps or training needed to be Ready to Sell 2021 PDP, the status field for that step or section would remain blank until that section has been successfully completed. Once a step has been completed, a completion date will be automatically populated for that step.

Once completed, you or an upline will click the “Summary” link to bring up any uplines or downlines RTS Status. Sales Professional Access will store the current and upcoming plan year statuses.

Ready to Sell?
If you are unsure of the steps to be Ready to Sell 2021 Prescription Drug Products, you can reference the chart below or view a short video link here. These provide the important steps a producer needs to successfully complete to be Ready to Sell, each plan year.  If you are unsure of your Ready to Sell Status, visit mutualofomaha.com/broker and check out the status, effective September 2, 2020.

Mutual of Omaha Sells Medicare Advantage Plans to Essence Healthcare

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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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Use our client-approved Indexed Interest Allocation Options flyer to help your clients determine which strategy may work best for them.
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Don’t make your clients older than they are. With our ‘age last birthday’ underwriting, you’ll help save your clients money and time.
 
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Prescription Drug Plan Commissions
There has been a delay in PDP Commission and Renewal payments, view the schedule.
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In January Mutual released a new e-Newsletter exclusively for their Medicare supplement policyholders. Learn more.
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Our dental insurance may be the answer to your clients healthcare needs.
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View March 1, 2020 Rate Releases.
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View upcoming Rate Adjustments.
 
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LTC Commission Timing and No Cash with Application Update
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Rate Adjustments Effective May 1, 2020
We will be implementing long-term care rate adjustments for Hawaii on May 1, 2020.
 
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Streamline your application process and get paid faster.
 
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Walk Through Life Stages with Critical Advantage℠ Products
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Mutual of Omaha Update – PDP commissions delayed, and more.

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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