American National?

Discussion in 'General Insurance Agent Discussions' started by natem2112, Sep 25, 2006.

  1. natem2112
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    natem2112 Super Genius

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    Hi there,

    I was wondering if any of you had any experience with American National for individual health insurance.

    Supposedly they are coming out with a ultra-competitive HSA with in the next few months.

    I've heard a few things about them, however not anything to base an opinion off of.

    Let's hear what you guys have to say about them.
     
    Last edited by a moderator: Mar 9, 2011
  2. James
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    James Guru

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    Been checking out ProducerWeb Site lately?
     
  3. natem2112
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    natem2112 Super Genius

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    Actaully no...why?


    I's been almost a year since I've been on ProducerWeb......
     
  4. insurebob
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    insurebob Expert

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    If someone is just coming out with a HSA plan, I would wait a good 12 months or so to see if they still are in the HSA business. That is why I don't sell Aetna, UHC (GR). These are two companies that are rock solid, but waited too long to get into the individual HSA business.

    Ref: Long Term Care.
     
  5. Crabcake Johnny
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    Crabcake Johnny Guru

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    Not a fan of any company that doesn't show rates and plan details online.
     
  6. STIBROKER
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    STIBROKER God Moderator

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    Texas Health Insurance


    repost from the other side...

    http://insurance-forums.com/topic.asp?TOPIC_ID=1933&SearchTerms=American,National

    yea I sold them in the past(this was the one that help me make up my mind to stop selling ass. health plans if at all poss...).......but they ran into some prob's......

    http://www.thedoveagency.com/WSJNASEArticle.pdf#search=%22Nonprofit%20Groups%20That%20Tout%20Insurance%20Have%20Hidden%20Links%22

    "Stan Firebaugh, the owner of a national insurance agency in Dallas, says he took control of the
    Health Through Exercise group in 1987. At around that time its name was changed to the National
    Business Association. Mr. Firebaugh's insurance agency made a proposal to American National
    Insurance Co. of Galveston, Texas, on how to put the National Business Association to use,
    according to officials with the agency and the insurer. "The concept embodied in this proposal --
    namely that of mass-marketing health insurance products via monthly bank authorizations to self-
    employed individuals through a captive, nonprofit association -- is a successful, well-established
    concept," the agency wrote. The NBA began endorsing American National as its insurer in 1989.
    Mr. Firebaugh's agency receives commissions on policy sales and a share of association dues.
    He denies any involvement with the proposal to American National and says the National
    Business Association is completely independent. The association "was never set up to sell strictly
    health insurance," he says.
    For a decade, Patrick Archibald served as president or a board member of the National Business
    Association and manager of Mr. Firebaugh's insurance agency. In effect, he was touting his
    agency's product to his association's members. He left the insurance agency in 1998 but stayed on
    at the association until April 2001. Mr. Archibald could not be reached.
    "The association was portrayed as independent," says Betty Wendland, 61, a retired saleswoman
    who joined the NBA and bought its insurance in 1999. "You joined this group and then you buy
    this insurance. I never assumed they were one and the same." Mrs. Wendland's rates went up 61%
    over the course of eight months before she found a new policy from a different insurer last year.
    "At my age, it isn't easy to get insurance," she says.
    Mrs. Wendland and some other policyholders learned about the cozy relationship from an agent
    after American National cut benefits and raised premiums in 1999.
    She and others filed a class-action suit in 2000 in state court in Austin, Texas, claiming that the
    NBA, Mr. Firebaugh's agency and American National had marketed insurance "through a sham
    organization." The suit alleges that more than 60,000 customers were defrauded and that the NBA
    "exists primarily for the purpose of selling health insurance and making profits."
    William Watson, American National's chief health actuary, said in a deposition last year that it
    didn't concern him that Mr. Archibald was running the association and the insurance agency.
    American National declined to comment because the litigation is pending. The defendants,
    including Mr. Archibald and Mr. Firebaugh, have denied the allegations in the suit."
     
    Last edited: Mar 9, 2011
  7. natem2112
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    natem2112 Super Genius

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    Well, that about answers it for now.

    Thanks Guys, it's great to ask a question like that and get the exact info you need to at least begin making a decision.
     
  8. arnguy
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    arnguy Guru

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    Insurebob mentioned that he would not write an HSA with Assurant and GR(UHC) because they came into the HSA business late. I believe that GR has been in the individual HSA business from the get-go, and previously they were pushing MSA (the precursor to HSA).

    Also, on the topic of HSA's, I would like to hear some comments about them----both individual and group. Just this past Monday, the Wall Street Journal had a lengthy article on the problems that employers are having with group HSA's. Just today, the Philadelphia Inquirer, had an article in their Business Section by a staff writer that pretty much reiterated the problems mentioned in the WSJ article. In the same Inquirer article it mentions that Wal_Mart will offer new hires next year low-premium plans with high deductible. :D :D
     
  9. Crabcake Johnny
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    Crabcake Johnny Guru

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  10. arnguy
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    Thanks Johnpet. I wasn't sure about Assurance being in there early, but I did know that GR was there. I didn't understand why Insurebob said that he wouldn't write their HSA's because those two carriers were late getting into that segment of the health insurance business.

    I am going to try to download the WSJ article possibly tomorrow.
     
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