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90 Day Plans have become WAY overpriced. Can you imagine what a good 3 year plan would cost, under the current pricing structure?!
12-36 month STM final rule released
- Thread starter Yagents
- Start date
90 Day Plans have become WAY overpriced. Can you imagine what a good 3 year plan would cost, under the current pricing structure?!
- Thread starter
- #12
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If you sell individual and family health insurance this is great news. praying other carriers besides UHC will see the light and jump on this asap. We had Highmark BCBS executives in last month and told them they need to be ready when the hammer drops. Sure hope they listened to our advice.
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If anyone on this thread is willing to be interviewed about the new STM rule for the October issue of Insurance Selling magazine, please PM me - have a writer working on an article about this and would love to have agent input about what kind of impact this will (or won't) have and potential downsides/upsides. If interested PM me with your name/contact info (email and/or phone) that I can pass along to our writer. Thanks
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- #16
Tim Resnick
Super Genius
- 129
From what i heard, they will not cover pre-existing conditions (3-5yrs out).
Basically, (from my understanding), short-term-medical plans, are 80/20 disaster plans. They do not meet the guidelines to qualify as a 'full-coverage' plan and 'PROBABLY' have a limited Dr. Network as well.
In the past, STM were 20% deductable with a 750k cap over a 90 day period. Again, better than nothing (but i haven't heard from anyone complaining about hospital costs).
THE BIG question is 'the doctor network?'
I'm skeptical...but its better than nothing (i suppose)???
Just make sure your E/O is paid.
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Tim Resnick
Super Genius
- 129
Y...have you sold the UHC 'short term Plan?'
What's your opinion?
Is it 80/20 coverage?
What about the Dr. Network?
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- #19
My opinion is I prefer Nat Gen right now.
Most STM's are PPO's
Most STM's have 100% or 80% choices
Whoever brings best product that solves my client's problems..........wins
Sold 5 GR STM's recently. 2 lapsed because I wasn't notified by email, and I don't babysit small accounts. 1 was declined, after filling out the application (pends for few days before approval?). That leaves me with 2, and one just went on Medicare.
Most STM's are PPO's
Most STM's have 100% or 80% choices
Whoever brings best product that solves my client's problems..........wins
Sold 5 GR STM's recently. 2 lapsed because I wasn't notified by email, and I don't babysit small accounts. 1 was declined, after filling out the application (pends for few days before approval?). That leaves me with 2, and one just went on Medicare.
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In Illinois, there are Democrats and BCBS-IL fighting the federally authorized STM length extension.
""In Illinois, consumers might still be able to use the plans for only six months at a time. Illinois lawmakers recently passed bills that would limit the plans' use, amid concerns that the plans' lower levels of coverage could leave consumers in a lurch if they need medical care.
The bills' proponents also worry that if short-term plans are allowed to be used for a year, they could attract healthier consumers away from the Obamacare exchange. That could leave an imbalance of sicker people on the exchange, driving up premiums for exchange plans.
The bills are awaiting Gov. Bruce Rauner's signature. The bills will become law if Rauner does nothing by the end of August.""
Source: Five things to know about short-term health insurance plans in Illinois
If our Republican Governor Rauner turns his back on middle and upper-middle class healthy people in Illinois, he's no better than the big-government Democrats who've controlled Illinois for decades.
