Mary, the supplements will remain as that division was sold and they are continuing to operate as Assurant for the time being...
A Fond Farewell to Assurant
- Thread starter Yagents
- Start date
Mary, the supplements will remain as that division was sold and they are continuing to operate as Assurant for the time being...
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They had the best products and network in Florida by far in 2014/2015. It is very sad to see them go. They have been very easy to deal with over the years. They are a class act.
Now the question is who will be the go to carrier/product in Florida and other states for 2016?
Now the question is who will be the go to carrier/product in Florida and other states for 2016?
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Good question: Why didnt Asssurant just keep selling OFF EXCHANGE ? Maybe they were losing money on that business too? Such a shame !
They were paying $1.80 in claims for every $1 in premium for all the business combined, both On and Off Exchange, that can never work...
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The supplement business is not what it once was either. It is difficult for people to deal with the 'affordable' rates we now endure.
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IMO, other companies witnessed what happened to agent and customer friendly Assurant...took notes...and are now doing the opposite.
ObamaCare punishes benevolence. That's why Pope Francis rebuked portions of the ACA when he was touring Washington D.C. yesterday.
ObamaCare punishes benevolence. That's why Pope Francis rebuked portions of the ACA when he was touring Washington D.C. yesterday.
For sure. In a GI world, an insurance company can't afford to give away benefits and service, lest they become overwhelmed with clients who consume said benefits and service.
Instead, you offer benefits, but they must be skinny and restrict access.
Or service, with a very high premium.
But not both.
Strange business we work in, isn't it?
Instead, you offer benefits, but they must be skinny and restrict access.
Or service, with a very high premium.
But not both.
Strange business we work in, isn't it?
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- #29
The bleeding doesn't stop, so they pull out $200M more.
Some of that is coming to us.
I wonder why Co-Ops can't do this? Money should come from DNC
PPACA earnings messages: Anthem, Assurant and more | LifeHealthPro
A carrier used to the traditional individual major medical market would just like to see its current level of misery stabilize.
Executives at Assurant, a company with subsidiaries that helped create the modern U.S. commercial health insurance market, have already announced plans to shut down the company's individual health insurance business at the end of the year.
The health unit posted a $144 million net loss for the third quarter, compared with a $17 million net loss for the comparable quarter in 2014. Assurant is hoping to get $161 million from the PPACA risk-adjustment risk management program for 2015 and $208 million from the PPACA reinsurance program. It's already received $329 million in PPACA risk management program payments this year from the Centers for Medicare & Medicaid Services (CMS), an arm of HHS, and it hopes to get about $28 million in the fourth quarter.
This year, health claims are about 30 percent higher than they were a year ago, and the individual health unit is doing so poorly that the company plans to infuse $200 million into the unit to to make sure it can meet obligations to policyholders, executives said.
"We are evaluating alternative options to limit the length and expenses associated with the wind down period," Christopher Pagano, the company's CFO, said.
"The important thing here is that we're honoring all of our obligations to policyholders as we wind down this business," Alan Colberg, Assurant's president, said.
Some of that is coming to us.
I wonder why Co-Ops can't do this? Money should come from DNC
PPACA earnings messages: Anthem, Assurant and more | LifeHealthPro
A carrier used to the traditional individual major medical market would just like to see its current level of misery stabilize.
Executives at Assurant, a company with subsidiaries that helped create the modern U.S. commercial health insurance market, have already announced plans to shut down the company's individual health insurance business at the end of the year.
The health unit posted a $144 million net loss for the third quarter, compared with a $17 million net loss for the comparable quarter in 2014. Assurant is hoping to get $161 million from the PPACA risk-adjustment risk management program for 2015 and $208 million from the PPACA reinsurance program. It's already received $329 million in PPACA risk management program payments this year from the Centers for Medicare & Medicaid Services (CMS), an arm of HHS, and it hopes to get about $28 million in the fourth quarter.
This year, health claims are about 30 percent higher than they were a year ago, and the individual health unit is doing so poorly that the company plans to infuse $200 million into the unit to to make sure it can meet obligations to policyholders, executives said.
"We are evaluating alternative options to limit the length and expenses associated with the wind down period," Christopher Pagano, the company's CFO, said.
"The important thing here is that we're honoring all of our obligations to policyholders as we wind down this business," Alan Colberg, Assurant's president, said.
Isn't that how all business works. Quality, price, or service; you can have 2 out of 3 but no one can be the best at all.
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