Everest has decided to limit future Medicare Supplement production to a single, national third party distributor. As a result, effective January 31, 2020, Everest will no longer accept applications for new Medicare Supplement business from currently contracted agents.
As you may have concluded from our state specific rate announcements over the past year, Everest’s block of business has been undergoing various changes due to the business mix, the implementation of MACRA, new competitor paper options, and the continued shift of medical costs from the inpatient to outpatient setting. Everest believes a more focused, controlled distribution through a single distributor responsible for new sales going forward will best serve Everest’s existing and future customer base.
Please understand this decision was made after careful consideration of the Everest block, its customers and your contributions to our efforts. Everest admires the work that you do on behalf of your clients and appreciates the relationship we were able to have with you and will continue to have with you with respect to servicing our existing policyholders. We wish you the best success in 2020 and beyond.
