Limited Benefit Health Sales Help Torchmark Profits

Torchmark’s first-year health premium revenue increased 19%, to $41 million. First-year premiums for Medicare supplement policies fell 12%, to $15 million, but first-year premiums for limited benefit hospital and surgical supplemental plans aimed at consumers under age 65 leaped 51%, to $26 million.

“The demand for limited benefit supplemental health plans sold to people under age 65 continues as some employers have eliminated or reduced their major-medical type group coverage for employees, and as individually written major-medical plans have become less available,” the company says in a discussion of the first-quarter results.