CSI Medicare Supplement (CSI Medigap) – 2015

CSI Medicare Supplement - CSI Medigap

CSI Medicare Supplement (CSI Medigap) plans are Medigap plans from Central States Indemnity Co. of Omaha (CSI). CSI is a well-known provider of supplemental insurance products in general, and Medigap plans in particular. The company was established in 1977, and in 1992 was acquired by Warren Buffet’s Berkshire Hathaway Company.  There is also CSI Life Insurance Company – a subsidiary of CSI, offering Medigap products in several states.

Like all Medigap vendors, the CSI Medicare Supplement plans provide help with out of pocket costs not covered by Original Medicare Part A and Part B. CSI Medicare Supplement plans, like all other Medigap plans, belong to Standardized Medicare Supplement Plans. There are 10 standardized plans denoted by letter “A” through “N“, each with its own set of benefits.

CSI Medicare Supplement plans share the following features with Medigap plans from other vendors:

  • There are no network restrictions. Any doctor accepting Medicare will accept any of the Medigap plans no matter who the carrier is.
  • Processing of Medigap claims is centralized and identical from vendor to vendor.  There is virtually no claims paperwork.
  • Your policy is guaranteed renewable, i.e. it cannot be canceled at any time.
  • You cannot be singled out for a rate increase, your premium will change only with a rate increase in your classification group in the geographic area of your state.

CSI offers Medigap plans in 36 US States, CSI Life – in 5 States. Of the six states where Liberty Medicare does business, CSI and CSI Life do offer their plans in five of them: Pennsylvania, New Jersey, Maryland, Illinois, and Ohio. CSI offers 7 Standardized Medigap Plans: Plan A, Plan B, Plan C, Plan D, Plan F, Plan G, and Plan N.  CSI Life offers 4 Standardized Medigap Plans: Plan A, Plan F, Plan G, and Plan N.

CSI offers 7% Household Discounts (5% in Maine) in the following states: Georgia, Iowa, Mississippi, Nevada, Maine, and West Virginia.

With all described above commonality, what differentiates CSI from other vendors?

CSI Medicare Supplement Plans – Affordable Rates and Reasonable Rate Increase

The CSI Medicare Supplement rates are quite competitive, typically in the top 5-7 vendors. They are particularly attractive on Midwest (IL, OH) where they are often among the three of the most affordable vendors.

The Rate increase is also quite attractive.  Consider the history of rate increases for PA, MD, IL and OH.

  • Pennsylvania
    • Nov 1. 2012 – 9% increase on all plans.
    • Jan 1. 2014 – 6% increase on plans A, B, C, D, F, and M. No increase for plan G. 7% rate decrease on plan N.
    • Nov. 1. 2014 – 1.7% rate decrease for plan G.
  • Maryland
    • Jul. 1. 2013 – 7% increase on plans A, B, C, and F.  4% rate increase for plan N.
    • Jul. 1. 2014 – 7% increase for plan A.
  • Illinois
    • Feb 1. 2013 – 5% increase on all plans.
    • Feb 1. 2014 – 7% increase on plans A, B, C, and F. No change for plan G. 4% rate decrease for plan N.
    • Feb. 1. 2015 – 4.5% increase on plans A, B, C, and F.  1% rate increase for plan G. No change for plan N.
  • Ohio
    • Jul. 1. 2013 – 5% increase on all plans A, B, C, D, and F. No change for plans G and N.

 

CSI Medicare Supplement Plans – Medical Underwriting

You are always a subject to medical underwriting, unless you are applying during Open Enrollment or a Guarantee Issue Period. CSI application has 12 health questions. In order the application to be accepted, all of them should be answered “No”. In addition, there are four additional health questions dealing with an applicant receiving a medical treatment or taking prescription medication for a long-standing and controlled health condition. An applicant with control health condition may be accepted by CSI. A condition is considered controlled if within the past 2 years there have been (1) no changes in treatment and (2) no increase in the dosage of medication.

For example, a person having high-blood pressure and diabetes is considered to be well-controlled if the person is taking

  • less than 50 units of insulin daily
  • no more than two oral medications for diabetes
  • no more than two medications for high blood pressure

Financial Strength Ratings

Financial Strength Ratings from A.M. Best Company, Inc.are measures of a company’s financial strength and its operating performance.  It adds to company respectability and to positive client perception.

CSI has impeccable financial strength ratings:

  • Central States Indemnity Co. of OmahaA+ / Superior Rating  (affirmed June 12, 2015)
  • CSI Life Insurance CompanyA+ / Superior Rating  (updated from A (Excellent) to A+ (Superior) effective June 12, 2015)

Very few Medicare Supplement vendor companies have an A+ rating.

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For help finding the best Medicare or Individual Health Plan for you, please contact Liberty Medicare or call us at 877-657-7477.

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