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Assurant: Gone in 2016
- Thread starter Professor Leads
- Start date
- 4,707
What will agents do without those high commissions?
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Obummer yr plan succeeding 2 d stroy insurance....
- 8,448
Excerpt from article: "If the health business segment is not sold, Assurant Inc. said it plans to exit the health insurance market in 2016."
1. Assurant is exiting the health insurance market whether the health segment is sold, or not sold.
2. They will be exiting at the end of 2016? ACA insurers can't voluntarily exit in the middle of the year any longer, can they?
According to https://www.assurant.com/AboutAssurant/CompanyHistory , Assurant Health was founded way back in 1892, and earned numerous awards throughout its long history. It's sad and somewhat amazing that ObamaCare is so toxic, that it killed off this company in less than a year! (Profitable from 1892 thru 2013..then immediate implosion after ObamaCare fully implemented in 2014.)
aikenhealth
Expert
- 94
Assurant was the only real PPO offered in my market on and off the Exchange - the others are EPO's and HMO's with high rejection by regional Dr's and facilities here - too bad - it was a good product.
Do you think another carrier will company will buy their book when they now have $90 million in losses? You are so correct - it only took 2 years of Obamacare to destroy them. My Assurant contact told me they were overwhelmed with very ill consumers which is why they dropped some trouble markets to "0" commissions to try to stop the bleeding but it was too late.
Do you think another carrier will company will buy their book when they now have $90 million in losses? You are so correct - it only took 2 years of Obamacare to destroy them. My Assurant contact told me they were overwhelmed with very ill consumers which is why they dropped some trouble markets to "0" commissions to try to stop the bleeding but it was too late.
They will not have any plans for 2016 unless there is a sale to a new owner who chooses to offer them, it is at the beginning of 2016, not the end:
Absent a sale of Assurant Health, Assurant, Inc. will begin the process to exit the health insurance market this year for all of its product offerings, and will not participate in the next Affordable Care Act Open Enrollment period in November. Assurant’s exit will be substantially complete in 2016.
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Thanks FLM2. I was taking Assurant's words too literally it seems. On the other hand, this particular Assurant article Buffeted by health care reform, Assurant Health faces uncertain future - EnergyBloggers will give you an aneurysm from trying to interpret it.
aikenhealth
Expert
- 94
What form of English was that blog written in?
The information was buried in it but it made my eyes bleed trying to read it
The information was buried in it but it made my eyes bleed trying to read it
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