Assurant Health Access? Fixed Bene Frenzy?

[Yagents]

Well there may be a market for it when your family bronze plan is like $2500 per month and the gold Obama plan is $3500 per month. Nobody is gonna buy a crap Obama plan because it will be too expensive.

That's why they're sellin' em, they make a lot of money, which means the client never sees it pay off.

With regards to high cost of exch plans, it's only high cost for high income/assets folks. Either they can afford it, or have to afford it to protect their assets. An LB plan is a waste since they can afford to pay cash for care, and the premium won't protect them from BK.

 

[somarco]

Exchange or not, if there is no funding for the rebates . . . and there won't be.

 

[AllGold]

I believe you need a refresher course in insurance 101.

I probably do. I have only been in this business a few years and I'm the first to admit I don't know everything.

My point was if a mini-med doesn't look like health insurance, doesn't walk like health insurance and doesn't quack like health insurance, is it really health insurance?

HHS doesn't seem to think so. Mini-meds are exempt from limits, MLR and the other parts of the reform law. And in most cases, I don't think they needed waivers (but maybe I'm wrong about that too).

I guess I'm wrong to not call mini-meds health insurance just because they're not major medical but HHS seems to do the same thing.

There's a ton of life insurance companies with mini-meds, a couple examples would be Family Life with their Secure Care product or Southwest Service Life Insurance Company has "Health Plans" (Health Plans). I can think of only one major med health insurance company that has one (Assurant).

 

[0b1kanobee]

I may be drinkin' Assurant Kool Aid, but seriously if they didnt think it would sell, when would they develop it? Assurant makes shiat loads of money selling all types of plans. Again, I'm not commenting on how good or bad they are, but rather, are they going to sell in a viable market? If not, why did they develop them?

So what's up? You or anyone else selling these Health Access plans or what?

 

[HealthGuy]

Obi....not sellin them YET

 

[Ann H]

Hmmmm. A client doesn't get subsidies, yet isn't rich, can't keep his non-grandfathered plan, must purchase a new plan where the lowest bronze level is much richer than his current plan, and faces shockingly high GI level rates, too. Pay the high premium? Yes, if it's possible. Pay the penalty/tax for not purchasing a qualifying plan? Yes, but what about protection?

It is my understanding that about 70% of IFP current policyholders don't have benefits as rich as the lowest Bronze plan, and most of those aren't grandfathered. That's a huge market of people making a difficult choice. If you get a subsidy, it's a no-brainer. But most of my clients are above 400% of FPL, yet not rich. A single making $44,000, a couple making $62,000 for instance won't get subsidies.

Historically, fee-schedule flat benefit plans have been trash. Agreed. The cumulative premium is more valuable than the claims benefit. But if an insurance company developed one correctly, and tagged the benefit fee schedule to the medical inflation rate for the future, it could sell big time. It is my understanding that PPACA doesn't include fee-schedule type plans in the definition of health insurance, but only traditional plans that pay a percentage of the billed amount. A good scheduled benefit plan shouldn't be hard to develop. Their claims department has fee schedules right now that are the contracts they hold with preferred providers, and the max they will pay for any given CPT code. An insurer with a solid, reputable plan could have a big market niche.

 

[0b1kanobee]

Hmmmm. A client doesn't get subsidies, yet isn't rich, can't keep his non-grandfathered plan, must purchase a new plan where the lowest bronze level is much richer than his current plan, and faces shockingly high GI level rates, too. Pay the high premium? Yes, if it's possible. Pay the penalty/tax for not purchasing a qualifying plan? Yes, but what about protection?

It is my understanding that about 70% of IFP current policyholders don't have benefits as rich as the lowest Bronze plan, and most of those aren't grandfathered. That's a huge market of people making a difficult choice. If you get a subsidy, it's a no-brainer. But most of my clients are above 400% of FPL, yet not rich. A single making $44,000, a couple making $62,000 for instance won't get subsidies.

Historically, fee-schedule flat benefit plans have been trash. Agreed. The cumulative premium is more valuable than the claims benefit. But if an insurance company developed one correctly, and tagged the benefit fee schedule to the medical inflation rate for the future, it could sell big time. It is my understanding that PPACA doesn't include fee-schedule type plans in the definition of health insurance, but only traditional plans that pay a percentage of the billed amount. A good scheduled benefit plan shouldn't be hard to develop. Their claims department has fee schedules right now that are the contracts they hold with preferred providers, and the max they will pay for any given CPT code. An insurer with a solid, reputable plan could have a big market niche.

There's been some confusion as to whether someone on these plans could go into the state insurance health plan if they needed to. I am under the impression they can.

I've got a few people in the health access plan along with an accident plan and critical illness (combined/wrapped). They either were ridered, declined or would be or could not afford the premium on a true mm.

I've studied what I think is all of them and Assurant seems to be the best for this type of client.

 

[somarco]

Hmmmm. A client doesn't get subsidies, yet isn't rich, can't keep his non-grandfathered plan, must purchase a new plan where the lowest bronze level is much richer than his current plan, and faces shockingly high GI level rates, too. Pay the high premium? Yes, if it's possible. Pay the penalty/tax for not purchasing a qualifying plan? Yes, but what about protection?

It is my understanding that about 70% of IFP current policyholders don't have benefits as rich as the lowest Bronze plan, and most of those aren't grandfathered. That's a huge market of people making a difficult choice. If you get a subsidy, it's a no-brainer. But most of my clients are above 400% of FPL, yet not rich. A single making $44,000, a couple making $62,000 for instance won't get subsidies.

Historically, fee-schedule flat benefit plans have been trash. Agreed. The cumulative premium is more valuable than the claims benefit. But if an insurance company developed one correctly, and tagged the benefit fee schedule to the medical inflation rate for the future, it could sell big time. It is my understanding that PPACA doesn't include fee-schedule type plans in the definition of health insurance, but only traditional plans that pay a percentage of the billed amount. A good scheduled benefit plan shouldn't be hard to develop. Their claims department has fee schedules right now that are the contracts they hold with preferred providers, and the max they will pay for any given CPT code. An insurer with a solid, reputable plan could have a big market niche.

On target, Ann.

This mess we call Obamacare is a disaster on so many levels. Totally unworkable and will never be fully funded even if the govt confiscates 100% income.

Obamacare is like the govt requiring auto manufacturers to develop a car that gets 100 MPG then telling the public you have to trade in your gas guzzler on the new model or else pay a tax.

 

[LOM58]

"Obamacare is like the govt requiring auto manufacturers to develop a car that gets 100 MPG then telling the public you have to trade in your gas guzzler on the new model or else pay a tax."

...and your new car payments will be three times what your old payments were for a car that you were perfectly satisfied with.

 

[somarco]

.and your new car payments will be three times what your old payments were for a car that you were perfectly satisfied with.

You say that like it is a bad thing . . .