Ohio seniors will soon enjoy the option of purchasing a new low-cost Medicare Advantage policy without the help of an insurance agent. The policy, offered by State Mutual Insurance Company of Rome, Georgia, has been approved by the Ohio Department of Insurance, making that state's seniors among the first to be offered the plan.
Dee Yancey III, State Mutual's president and CEO, heralded the plan one of the lowest cost MA plans in the country. And because the company allows Medicare-eligible seniors apply for policies online, the agent is rendered obsolete. "They can go online to fill out a confidential application … secure in the knowledge that no one is going to try to sell them anything," he said.
The company's website allows a prospective customer to review a policy, receive a premium quote, submit an application and obtain coverage confirmation in a matter of minutes. Most policies are issued within one working day, which contrasts sharply with the standard one- to two-month wait for underwriting review and processing seen with other plans.
Yancey went on to explain that the online application process helps them keep their premiums affordable. "We have eliminated a substantial cost element in this process," he said. "This benefits the consumer who can obtain a superior insurance policy from an established company very quickly and inexpensively," he said.
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