12-36 month STM final rule released

[AllenChicago]

Allen, where you been? STM pricing in AZ and FL is way cheaper than ACA.
I'm assuming the 3 yr option will be a "buy up" option.
A 10% premium per year is sellable, double is not

There was no financial justification for the doubling of STM monthly premiums, while their term lengths were slashed from 12 months to 3 months. Pure insurance company $greed$..taking advantage of the opportunity afforded by insanely high ObamaScrew premiums..

 

[Yagents]

Glad to see Allen back with a new conspiracy

 

[AllenChicago]

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.

In addition, it looks like UHC/Golden Rule has reduced their STM commission percentages, as of October 1st. 15% on some. 10% on some...Unless you write in Oregon, where they are 25% across the board. UHC/G.R. now advances commissions.

 

[Yagents]

In addition, it looks like UHC/Golden Rule has reduced their STM commission percentages, as of October 1st. 15% on some. 10% on some...Unless you write in Oregon, where they are 25% across the board. UHC/G.R. now advances commissions.

Agencies have 24% available with production at gr uhc

 

[AllenChicago]

Agencies have 24% available with production at gr uhc

At IHC I get 20% with no minimum production requirement. I think you need 200 policies before UHC ramps you up to 24%?

 

[Ann H]

So, California just dropped the hammer on STM: This came from the California Dept. of Insurance

Good afternoon.

Effective January 1, 2019, short-term limited duration health insurance cannot be issued, amended, sold, renewed, or offered in California. Short-term limited duration health insurance is health insurance coverage provided pursuant to a health insurance policy that has an expiration date specified in the policy that is less than 12 months after the original effective date of coverage. All agents transacting health insurance business are asked to review the attached notice.​

 

[AllenChicago]

So, California just dropped the hammer on STM: This came from the California Dept. of Insurance

Good afternoon.

Effective January 1, 2019, short-term limited duration health insurance cannot be issued, amended, sold, renewed, or offered in California. Short-term limited duration health insurance is health insurance coverage provided pursuant to a health insurance policy that has an expiration date specified in the policy that is less than 12 months after the original effective date of coverage. All agents transacting health insurance business are asked to review the attached notice.​

"Short-term limited duration health insurance is health insurance coverage provided pursuant to a health insurance policy that has an expiration date specified in the policy that is less than 12 months after the original effective date of coverage."

Why can't a carrier make their product last 12 months, and not call it Short Term Medical? Label it as Medium Term Medical (MTM).
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Illinois issued a bulletin on at 7:00pm this past Friday, limiting STM plans to 6 months, effective that night (Saturday AM) at 12:01am. And, when the first 6 month plan expires, another one can't be purchased for 60 days.

Illinois's Democrat state legislature overrode our Republican governor...who will be replaced by a Democrat governor on 1.1.2019.

 

[Dave020]

"Short-term limited duration health insurance is health insurance coverage provided pursuant to a health insurance policy that has an expiration date specified in the policy that is less than 12 months after the original effective date of coverage."

Why can't a carrier make their product last 12 months, and not call it Short Term Medical? Label it as Medium Term Medical (MTM).

Because existing California law only allows short-term health plans a max duration of 185 days. This was reduced to 3 months under the Obama rules but the prior rule is back in effect.