Assurant: Gone in 2016

[AllenChicago]

Talk about a free-fall...

"Assurant Health posted a $63.7 million operating loss in 2014. Assurant Health will report a net operating loss for the first quarter in the range of $80 million to $90 million, its parent company said."

Ref: Hot market for health insurer M&A bodes well for Assurant Health; future of employees still in doubt - Milwaukee - Milwaukee Business Journal

 

[FLM2]

Talk about a free-fall...

"Assurant Health posted a $63.7 million operating loss in 2014. Assurant Health will report a net operating loss for the first quarter in the range of $80 million to $90 million, its parent company said."

Ref: Hot market for health insurer M&A bodes well for Assurant Health; future of employees still in doubt - Milwaukee - Milwaukee Business Journal

Assurant's loss ratio is in the 180% range on ACA business, they are better off walking away than anything else-that's what happens when you are the only ones with a huge national PPO network combined with good plans.

I have clients who met their MOOP during the first week of the year due to expensive medications, it just isn't a sustainable business model for them since they don't own their network.

 

[AllenChicago]

Assurant's loss ratio is in the 180% range on ACA business, they are better off walking away than anything else-that's what happens when you are the only ones with a huge national PPO network combined with good plans.

I have clients who met their MOOP during the first week of the year due to expensive medications, it just isn't a sustainable business model for them since they don't own their network.

It would be better for clients if another company assumed the portfolio wouldn't it? Then they wouldn't have to potentially pay 2 deductibles in the same calendar year.

 

[FLM2]

It would be better for clients if another company assumed the portfolio wouldn't it? Then they wouldn't have to potentially pay 2 deductibles in the same calendar year.

They aren't walking away this year, they will honor every policy. My reference was to them leaving the business at the end of 2015.

Assurant, regardless of how you feel about them, is a high quality company-they have always paid commissions on a timely basis and, except for earlier this year, been outstanding with customer service as well.

 

[OregonDave]

My business partner and I wrote this. Thinking about doing a series. There are forensics of failing companies and the public needs to recognize them as well as start demanding solutions. Just eight years ago this country managed to organize in response to the housing crisis. The intent was right but the candidate was wrong. It is now time to fight the healthcare crisis. We are the soldiers and the canaries, and each of us has a duty to make as much noise as possible right now. I'm going to fight like hell. Hours after writing and publishing this Martin and had a 10 minute interview scheduled on Lars Larson's talk radio show. The next hour was discussion. You are all as verbose as I and probably as knowledge. Let's save our livelihoods, economy, and healthcare system.

I believe we should have one system, either free market insurance or Medicare for all. No VA, no Medicaid, no TriCare. One or the other. Guaranteed issue, mostly.

What would you promote?

Collapse Of The Health Insurance Industry - Portland Benefits Group

https://www.portlandbenefitsgroup.com/news/113-collapse-of-us-health-insurance-market.html