Don't know if this is more individual or group forum appropriate. I've got a client who's a realtor in Va. and doesn't have group availability. He says he got a policy from Mega Insurance underwritten by United Healthcare. I thought UHC was just a group carrier. He said he was able to get the group policy because of some association. Anyone have any idea what this is about, or if this is even the case? I understand Mega is known for deceitful business practices.
Mega and United Healthcare
- Thread starter saieddie
- Start date
Complete BS! Agents are prohibited from saying that the Mega plans are group coverage. Have him pull out his contract and look on the 1st page to see the name of the insurance company who holds the policy. If he doesn't have the contract have him log onto his bank account and see where the draft comes from.....
Do a side by side comparison and then sell him an Assurant, GR or Anthem plan that meets his needs and budget.
- Thread starter
- #3
Thats what I thought. I asked him to fax me a copy of his current policy so I could do a comparison. I just thought they may have had some kind of group affiliation that he could join that would make him group insurance eligible. I know that the Va Assoc of Realtor doesn't offer that.
Good Idea, although I would refrain from having him send you the entire policy via fax. Create a spreadsheet for future MEGA people so you have a template to compare if you do not know the plans.
- 14,809
So a Mega agent apparently said it's a group policy underwritten by United Healthcare? Either the client is grossly mistaken some Mega agent is behind on his car payment.
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Mega agents are captive. If your prospect has a United Healthcare individual plan, it is probably some agent selling golden rule and using the better know name of U. Healthcare, who now owns GR
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If he has Mega I doubt he has received a POLICY yet. Normally it takes about 4 calls to get one even after your insurance goes into effect.
Your client is confused. They saw UGA, thought UHC. UGA is Mega. The affiliation is NASE, which has nothing at all to do with offering group coverage, but it may have been presented as that, or more than likely, the agent mentioned they had to join NASE to get the coverage, and the client assumed that meant it was group coverage. Mega appears to be pretty good about letting people assume this.
By the way, NASE, to the best of my knowledge, is a way for Mega to collect an extra $35 a month for very little. The one time I looked in the catalog, there wasn't a lot there to make it worth what they charge. YMMV.
I have no doubt that the realtor thinks they have group coverage. I also have no doubt that they don't. Good luck explaining this.
In my experience, and this might be dated, the big things people don't understand about Mega policies:
- Split deductibles. Actually, I believe you can even have to pay your deductible multiple times per year, it's per occurance, not per year (in some cases, this could be good).
- Things like cancer treatments are not included. You have to add it to the policy. Basically, they don't cover a lot of things people buy insurance for.
- No out of pocket limits. I think this has changed with their new plans.
- Hi complaint ratios to the DOI (in several states, not sure about VA).
It's been a few years since I've looked at a Mega policy, so don't take this as definitive for current policies.
Dan
By the way, NASE, to the best of my knowledge, is a way for Mega to collect an extra $35 a month for very little. The one time I looked in the catalog, there wasn't a lot there to make it worth what they charge. YMMV.
I have no doubt that the realtor thinks they have group coverage. I also have no doubt that they don't. Good luck explaining this.
In my experience, and this might be dated, the big things people don't understand about Mega policies:
- Split deductibles. Actually, I believe you can even have to pay your deductible multiple times per year, it's per occurance, not per year (in some cases, this could be good).
- Things like cancer treatments are not included. You have to add it to the policy. Basically, they don't cover a lot of things people buy insurance for.
- No out of pocket limits. I think this has changed with their new plans.
- Hi complaint ratios to the DOI (in several states, not sure about VA).
It's been a few years since I've looked at a Mega policy, so don't take this as definitive for current policies.
Dan
- 14,809
It really depends on the plan and what week it is - since that's about how often Mega seems to change their plans. I feel some of it has to do with marketing tactics to recruit new agents:
"What....you heard bad things? Oh, those were the OLD plans."
When I was there we had a plan called Signature Benefit that had yearly, not per-occurance deductibles. I believe that's now defunct and was not often sold. Many Mega plans have per-occurance deductibles.
Cancer treatment is not a rider on some plans but I believe it's capped at something like $1,500 a day. At least, that was the last update - but it's only Thursday. They'll probably have new plans by Monday.
"What....you heard bad things? Oh, those were the OLD plans."
When I was there we had a plan called Signature Benefit that had yearly, not per-occurance deductibles. I believe that's now defunct and was not often sold. Many Mega plans have per-occurance deductibles.
Cancer treatment is not a rider on some plans but I believe it's capped at something like $1,500 a day. At least, that was the last update - but it's only Thursday. They'll probably have new plans by Monday.
