Depression...and Underwriting

[TonyC]

I regularly get prospects who are suffering from depression.

Some companies won't even underwrite them.

Who will underwrite and insure clients who have depression and are currently being treated with meds and counseling?

Anyone?

Thanks very much!

 

[Crabcake Johnny]

Who won't underwrite depression? Every carrier I have will take a client with depression/anxiety - stable on one med.

Now, you start throwing in two or more meds - now you have an issue. Counciling can be an issue - normally excluded.

 

[moonlightandmargaritas]

Other questions to ask:

Hospitalization? (not good)
Time lost from work? (not good either)

 

[dmiller90]

I regularly get prospects who are suffering from depression.

Some companies won't even underwrite them.

Who will underwrite and insure clients who have depression and are currently being treated with meds and counseling?

Anyone?

Thanks very much!

Not trying to be sarcastic, but you really need to learn and understand the underwriting guides that are published. If you are reading them, and your making statements that some companies wont even underwrite them? I think you need to review them again.

 

[somarco]

Other questions to ask:

Hospitalization? (not good)
Time lost from work? (not good either)

At least they don't ask if you own a gun and a ski mask . . .

Depending on the diagnosis, treatment plan and severity, the following carriers will write folks with depression.

Aetna
Blue Cross
Golden Rule
Humana
Time

There are others but these are the primary carriers most folks use.

 

[Crabcake Johnny]

Well, I'll state that there is indeed an unjustifiably high percentage of people on these meds.

I'm not saying people should not be taking medication for clinical depression or even possibly for a catastrophic life event such as a death of a spouce.

But as we all know, many clients are on these meds for things like job loss or housewives with 3 kids who are "depressed" which I think is pure kaka.

I had a client last month - just put on meds after she lost her job. What? Common.

 

[Expat]

Anti depression and ADD meds are becoming like candy. The doctors just seem to hand them out for any reason. Probably because of all the adverts on the telly.

 

[Crabcake Johnny]

Yet it's the doctors who are being irresponsible by writing the script.

 

[TXINSURANCE]

This varies drastically by carrier and state.

As someone mentioned - pick up an underwriting guide and study it, then run some test cases.

In Texas this is very tricky:

Carrier A - Does not cover mental drugs or outpatient mental services

Carrier B - Same as carrier A, however up to 50% rate up despite the fact that the RX is never covered

Carrier C - 5 year waiver, or decline if combined with Tobacco

Carrier D - 12 Month Mental health wait

Carrier E - Rate up and covered if under 18, over 18 - 5 year waiver.

All carriers - 12 month to 18 month wait if no prior creditable coverage without excessive gap.

Bottom line if someone is on a $100 RX and looking at a $90/mo plan you can figure out how this scenario is likely to play out. This is nothing but a math game at the end of the day.

 

[Crabcake Johnny]

In MD it's rare that RX would be covered with the exception of Aetna.

GR would rider it out - Time would rate the policy between 25%-50% and either issue a drug blocking rider or jack up the RX deductible to $1,000 or possibly $1,500.