Wisconsin insurance regulators shed a little light on how insurers that sell long-term care insurance (LTCI) and Medicare supplement insurance work in a report on a market conduct examination of Mutual of Omaha and a sister company, United of Omaha.
Regulators completed the review in January, based on operations that took place before Aug. 26, 2011, but have just posted the report on the Wisconsin insurance commissioner’s website.
Mutual of Omaha generated $8.4 million in earned premium from providing Medicare supplement policies, or Medigap policies, in 2010, and it ended the year with 1,874 insureds. The company sold no new Medigap policies in the state in 2010, officials said.
The company also reported about $1.7 million in Wisconsin LTCI earned premium, and it ended the year with 1,206 Wisconsin LTCI insureds.
United of Omaha ended 2010 with about $13 million in Medigap earned premium and 9,152 Medigap insureds, and $1.3 million in LTCI earned premium and 889 LTCI insureds.