Primerica is giving up on a newly acquired Medicare plan distribution agency after simply three years.
The life insurer and monetary companies distributor stated Tuesday that it’ll go e-TeleQuote Insurance coverage on to a “third get together who has not but been recognized” by Sept. 30.
The Primerica board believes that the senior well being distribution market is “more and more difficult” and that the market “is going through an unsure regulatory atmosphere,” the corporate stated.
Primerica agreed in 2021 to purchase an 80% stake within the Clearwater, Florida-based holding firm that owns e-TeleQuote by means of a deal that had a complete most worth of $575 million.
What it means: Primerica’s transfer raises questions on whether or not more durable circumstances within the Medicare plan market will merely squeeze some gamers out or whether or not turmoil will disrupt the upcoming annual enrollment interval.
The enrollment interval for Medicare Benefit plans and Medicare Half D prescription drug plans for 2025 is ready to begin Oct. 15, as early normal election voting is underway in lots of states.
The timing means disruption might have an effect on the presidential and congressional elections in addition to older purchasers’ capability to pirchase Medicare plan protection.