Assurant: Elvis Has Left The Building

[Dave020]

Snippets from today's announcement:

Assurant, Inc., has concluded the review of its health business and will exit the Individual Medical, Small Group Fully Insured and Short Term Medical markets.
• The last day for sales of these products will be June 15, 2015.
• The wind down of these product lines will begin immediately and we expect to substantially complete the exit by the end of 2016.
• The company will meet all claims, benefits, provider payments and agent commission responsibilities during this transition.

We are pleased to tell you that we are finalizing the sale of our remaining business lines, including Small Group Self-Funded and Assurant Supplemental Coverage, as well as the North Star Marketing distribution channel, to National General Holdings Corp, subject to formal documentation and regulatory approval. We’ll share full details when we have them. Until then, you can continue to sell these products to meet customer needs.

 

[STIBROKER]

Snippets from today's announcement:

man.....whats going to happen to my coremed plan......

 

[somarco]

whats going to happen to my coremed plan......

I suggest you find an experienced health insurance agent in your area. Pretty sure there are some TX agents in this forum.

Unfortunately, some of them can't spell ACA and the rest type with an accent.

 

[AllenChicago]

Is there any reason to sell a SEP-eligible person an Assurant QHP before June 16th?

 

[YouGotMyMoney]

Is there any reason to sell a SEP-eligible person an Assurant QHP before June 16th?

No because you won't be paid a commission.

 

[MaryDallas]

Is there any reason to sell a SEP-eligible person an Assurant QHP before June 16th?

This seems to read prior to June 15th you could sell a SEP-eligible person an Assurant QHP and commissions would be paid as well as claims through the end of 2016. However, would you want to?

 

[OregonDave]

I've got a few more details for all of you: National General is AHCP's parent company. AHCP basically owns Assurant now.

There's a reason I picked my team. Here's the story of why:

Aaron Goddard started Velapoint, bought AHCP, owns around half of NHIC, half of Starmount Life, and a bit of agentcubed.

I know the man personally from his first call center, Velapoint, which started in late 2009 and by 2012 was the highest producing health insurance call center nationwide, which is why National General (formerly GMAC) bought half.

I remember the meeting when it was all announced. Analogizing AHCP to "franchises" of Velapoint was my contribution to that meeting. It probably is why I'm one of closest to home Division Presidents and get to benefit from both agencies.

These guys are absolutely dominating the industry. It surprises me sometimes there hasn't been much talk about what's going on in Oregon on here.

As I like to say, if you can't beat 'em, join 'em.

 

[OregonDave]

They are solid, even more so the farther up the chain you go. They're owned by a multi-billion dollar company, American something.

I don't want to over-promote myself but if anyone wants to be part of this juggernaut look me up, I and my partner are the only AHCP division presidents that came from Velapoint and know all those guys. It gives us lots of favors and our contracts.

Additionally, i have never started an agent below Senior agent level and most experienced agents I put straight on mgr comp. For a few high profile major med carriers, nobody has ever not taken the offer after checking to see what the direct rate is.

 

[Ann H]

Velapoint and Agentcubed. I seem to remember that Health Partners America was using them for their "private exchange" idea.

 

[somarco]

Has Agentcubed been replaced by Agentscrewed?