AIM Guaranteed Issue

[myinsurebiz]

Actually - I won't be marketing it as "creditable" coverage - but rather just using it for those that don't qualify for traditional health insurance.

I mean they can't get "real" coverage now - they might as well save a bit if they need it. Actually - a well put together "Discount Card" is better in the long run if it has true "repricing" built in . . .

My opinion has always been that if someone can't qualify for individual health plan - then get a job - work at least 30 hours a week and get group coverage.

Any hoo - this thread has done all it can.

Tom

 

[HealthGuy]

Tom you almost seem obsessive about this AIM mini med. I mean do you make a 90% commission on this with an 18 month advance? Why do you keep defending it?

 

[myinsurebiz]

Not really "defending" the plan - but the concept.

I mean - the statutes of the US Code dictate the rule. The rule is being "interpreted" in various ways. I just interpret it differently I guess. But at least I'm interpreting it the same way the underwriting insurance carriers are . . .

Tom

 

[Insurance Man]

I think they do good business, but I got hooked up with a company that is even better because there is no pre X. So I think it is better because it has everything that AIM has but issued fast on the first of every month and like I said no preX. If you want to know let me know. Plus great commissions.

 

[YouGotMyMoney]

Insurance Man-

You have a limited medical plan...meaning discounts + limited indemnity insured benefits, that does not have a 12 month wait on pre-ex for the insured benefits?

If so, please do tell.

 

[Guest]

i have been through the appointment process and am looking for feeback on AIM. You really have to stay on top of them to get appointed. I did talk to one guy today who has sold it and he said you have to be careful with them. The customer support is not good. But I also talked to someone inside the company who said they are growing at an unbelievable rate and finding it hard to get people hired to get the work done.
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Please let me know about the guaranteed issue plan you were talking about with no preex?

 

[Insurance Man]

Here is the website for the guaranteed issue plan. I can get you a real good contract through the company if you are interested. Let me know. It is not in every state because they do actually file with the state and it is tough to get in all states. I will find out which states. Here is the website.

www.combinedagencyinc.com

Bruce

 

[somarco]

I would advise being cautious on ANY limited benefit plan. Some take extreme liberties in promoting their plan as "HIPAA qualified" or "HIPPA approved". Others claim to be creditable (or sometimes credible) coverage.

They can claim anything they want. Backing it up is another story.

I am always suspicious of those who heavily promote a bunch of (mostly) useless benefits like discounts on travel, groceries, cab rides . . .

If someone qualifies for a state managed plan, enrolling them in one of these plans may disqualify them from participating in taxpayer funded plans. So before you enroll someone in such a plan make sure you don't expose yourself to more liability than already exists.

The NCBA plan seems a bit pricey. Even if they cover pre-ex (except maternity) their exposure is limited. Continental American is not exactly a brand name. I would be curious how long this plan has been around, how long CA has been on the risk, and how likely it is the plan will be around. Seems like carriers are coming out of the woodwork to offer these kind of plans. That always frightens me.

 

[Crabcake Johnny]

Nothing like telling your client that the coverage you're recommending qualifies as creditable coverage then come to find it doesn't. I'd recommend pre-paid legal.

I'm checking this out as we speak - I have calls into the carriers who underwrite AIM checking on the creditable coverage issue - will report back.

 

[somarco]

My co-blogger and I have been doing our own detective work on this (AIM, creditable) coverage and pretty much hitting a brick wall. The DOI passes the buck to the DOL and vice versa. Seems no one wants to commit.

Discussions with AIM marketers (including Lou DeLuca) are met with salesy rhetoric. "No one has ever questioned our letter of creditable coverage".

Yeah, that's real comforting.

In other words, you can call it anything and expect to get away with it. It seems the carriers who accept these letters determine what is, and is not creditable. And most (if not all) never seem to ask for a copy of the plan, just take the letter at face value.

My guess is, if there is ever a big claim, expect them to dig deeper. Then what happens?

Put some lipstick on that pig.