New Carrier Spotlight: Meet Lumos Insurance

At our agency, we're always looking for insurance carriers that bring value, stability, and competitive underwriting options to our Medicare clients. That's why we're excited to announce that as of July 13, we now offer Medicare Supplement plans from Lumos Insurance (a carrier with a long history and a fresh new identity).

While the Lumos name may be new to many consumers, the company behind it has been serving insurance customers for decades.

A New Name Built on a Strong Foundation

Lumos Insurance is the new brand name for The Plateau Group, an insurance company founded in 1981 and headquartered in Crossville, Tennessee. According to the company, the rebrand reflects years of modernization and investment in its operations while maintaining the same financial strength and commitment to policyholders. [lumosinsurance.com]

Over the years, the organization has grown from its roots in credit life, health, and property insurance into a nationwide insurance carrier serving a variety of markets, including senior-focused life and health products.

Financial Strength Matters

When choosing a Medicare Supplement company, financial stability should always be part of the conversation. Lumos maintains an A- (Excellent) rating from AM Best, one of the insurance industry's leading independent rating agencies.

Medicare Supplement Plans Available

Lumos currently offers several of the most popular Medicare Supplement plan options:

• Plan A

• Plan F*

• Plan G

• Plan N

• High Deductible Plan G

  
  

*Plan F is only available to Medicare beneficiaries who were eligible for Medicare before January 1, 2020.

These plan choices give consumers flexibility to select coverage that aligns with both their healthcare needs and budget.

Household Discount

One feature that stands out is Lumos' 7% household discount.

In most states* you may qualify if you are:

• Married, or

• Living with another adult who is at least age 50 and has lived with you for the previous 12 months.

For many Medicare beneficiaries, this discount can help lower monthly premiums while maintaining the same level of coverage.

*Some states require a two-policy enrollment to qualify.

Competitive Underwriting Advantages

For clients applying outside of their guaranteed issue rights, underwriting can make all the difference. Lumos has introduced guidelines that may be attractive for certain applicants, including:

• A 2-year look-back period for heart-related conditions, single occurrences of cancer or stroke

• Consideration for applicants with Type II Diabetes using 50 units of insulin per day or less

  
  

As always, underwriting approval is based on the carrier's review of an individual's health history and application details. However, these guidelines may create opportunities for some consumers who have found options limited elsewhere. We can always do an underwriting pre-screen with our carriers to see the likelihood of success before enrollment.

Why We're Excited About Lumos

New carriers don't enter the Medicare Supplement market every day (especially those backed by more than four decades of insurance experience with strong re-insurance). While Lumos brings a new name and brand to the marketplace, it's supported by a company that has been operating since 1981 and continues to maintain strong financial ratings.

For Medicare beneficiaries shopping their coverage, Lumos offers a combination of:

• Financial strength

• Competitive discounts

• Multiple plan choices

• Consumer-friendly underwriting features

• A longstanding insurance heritage under the former Plateau name

  
  

Final Thoughts

If you're currently comparing Medicare Supplement plans or wondering whether a switch could make sense for your situation, Lumos Insurance is certainly worth a closer look, especially as carriers' rates change every year.

Every person's healthcare needs and budget are different, and the right Medicare Supplement plan depends on your individual circumstances.

As an independent agency, we're pleased to offer Lumos alongside other leading Medicare Supplement carriers, helping our clients compare options and find the coverage that best fits their needs.

Please give us a call if you have any questions about the carrier or are interested in a free quote consultation or underwriting overview!