Peek Performance ACA lookalike Questions

[The Medicare Gal]

Hi Y'all!

I'm being solicited by Peek Performance and was wondering if you know anything about them. I watched their video, and called over there, but I couldn't hear what the guy was saying and he refused to speak louder or adjust his headset.

Anyway, what I did hear was that the plan they are pushing to business owners as a group plan (that's us in case you didn't catch it) is a major medical plan.

Coming from CA I have no experience with major medical. But I myself have a high deductible plan. It's a group plan through a PEO. I have to pay the PEO's service fee, and I also have to pay an organization to be part of the group.

So it gets pricey. The Peek Performance group plan is underwritten. I'm sure I'll pass underwriting, and I'll save money.

But I don't understand how my current High Deductible Plan (I have an HSA) will differ from their "major medical high deductible" plan. What's the downside of going with an underwritten plan they are saying acts exactly like an ACA if you pass medical underwriting?

Is anyone on this plan? Anyone selling it? If you're self employed and earning full time income then you qualify. As I can see it, if I switch I'll save about $300 a month.

Just want to make sure that I am not missing anything. If it's good then I have friends who are self employed who would likely want to switch as well.

 

[aikenhealth]

I have been solicited by them as well with postcards and emails and I looked into it and found it is an interesting plan. Only people eligible are those that are paid 1099 self-employed or micro-businesses - no W-2s it does have all the aca-compliant free preventive and it is underwritten but it's not overly stringent underwriting - it has exact premiums per number of people in the family and deductible choice with.no variation. It does look interesting - it's not cheap but it is a nationwide PPO unlike many of the Obamacare plans and it is less expensive than an Obamacare plan without a subsidy. None of my clients are "subsidy" eligible so I added it to my portfolio.

 

[Yagents]

In my experience, there is always a catch with these products/programs.

Using ACA, underwriting, group plan, with self employed income, and a PPO in the same sentence do not go together typically. You might as well buy an STM plan.

PS. I have not looked into it yet. Any links that you can provide?

 

[kstein]

I've got a high income guy that's going to live on a boat for a few years out of fort lauderdale. He owns a business in missouri that can move and it's him, wife, and daughter. Any ideas there?

 

[scagnt83]

Its technically an association plan. Set up through the recent Executive Action that was passed.

They also offer a Cost Sharing Plan that does not require religious affiliation. (Sedera)

 

[The Medicare Gal]

In my experience, there is always a catch with these products/programs.

Using ACA, underwriting, group plan, with self employed income, and a PPO in the same sentence do not go together typically. You might as well buy an STM plan.

PS. I have not looked into it yet. Any links that you can provide?

Here you go: www.PPIValue.com

 

[The Medicare Gal]

Honestly I was thinking of it for myself. I'm in that stage between "stupidly expensive" and "finally eligible for Medicare".

 

[TXINSURANCE]

NOT association plans.
Level funded group plans.

These are to be common much more common for OFF MARKETPLACE ACA compatible.
Will they last? Who knows... it seems you have to shuffle ACA clients every year or two in most markets anyhow... subsidies change (ON MP), plans change, carriers change, rates change, it is a mess.

One thing I find very odd is the "year" is May to May, I am not sure why... Also this is not GI... 5 tiers... 4 rates plus 1 for decline. Community rated, single age band.

I would check your EO to make sure they cover level funded groups - most do, but EO can be a tricky thing (after all it is just an insurance policy... lol)

I am still waiting on clarification of a few questions on this specific product.
I will say in the past Clay Peek has always been a pretty nice guy on the phone, straight shooter, I do not know of any agent complaints in my circle of friends.

 

[TXINSURANCE]

Sorry I originally thought these were on a different chasis... I have no idea what this product is yet or what the details or mechanics are... NO clue... disregard previous comment...

 

[scagnt83]

Sorry I originally thought these were on a different chasis... I have no idea what this product is yet or what the details or mechanics are... NO clue... disregard previous comment...

I already explained what they were.... and even gave the name of one for anyone to google and find the website. I know this because Ive been to their offices before here in town and spoken to the owners before. Or you can just visit their website....

One is an association plan (developed after the recent executive order) that is for very small or solo business owners.

The other is a cost sharing plan that does not require religious affiliation. (Sedera)