- 1,926
Anyone have any experience with these plans?
Assurant Self Funded Small Group Plan
- Thread starter bluemarlin08
- Start date
- 4,096
I have presented them a handful of times.
If the group can get through underwriting it can be a good fit.
You need to educate yourself on a self funded contract.
If the group can get through underwriting it can be a good fit.
You need to educate yourself on a self funded contract.
NYinsurance417
Expert
- 69
I think its a great option in today's market. I have a few clients in these programs. I also have been running into several prospects with these products. Learn the product and start talking about it to differentiate yourself.
- 1,737
Good thread, have attended a couple self funded carrier presentations. I have a group of 40 EE's, about 25 on group, old school plan renewing 12/1/14. Getting ready to do self funded proposal.
Two considerations:
1. As I understand it, self funded all EE's get same plan, not like current plan where there's a choice of 3: PPO, PPO with HDHP/HSA design, and HMO/POS. One owner likes the HSA. Self funded premiums in general look amazing and could help make the decision, just not sure about health conditions once we do actual proposal.
2. Should I go ahead and qualify for Marketplace SHOP. Are small employers jumping on that?
Just straight up going for similar deductibles on new 2014 rates may raise their premiums really high.
Also looking into voluntary benefits, especially if higher deductibles in play.
Two considerations:
1. As I understand it, self funded all EE's get same plan, not like current plan where there's a choice of 3: PPO, PPO with HDHP/HSA design, and HMO/POS. One owner likes the HSA. Self funded premiums in general look amazing and could help make the decision, just not sure about health conditions once we do actual proposal.
2. Should I go ahead and qualify for Marketplace SHOP. Are small employers jumping on that?
Just straight up going for similar deductibles on new 2014 rates may raise their premiums really high.
Also looking into voluntary benefits, especially if higher deductibles in play.
ERISAgaga
New Member
I have written a couple with them.
I have several TPAs that I regularly work with that have stronger cost effective plans. I can introduce you to them, just send me a private e-mail with your contact information.
Fully funded programs are great in the 20-100 group size. NO community rating!
I have several TPAs that I regularly work with that have stronger cost effective plans. I can introduce you to them, just send me a private e-mail with your contact information.
Fully funded programs are great in the 20-100 group size. NO community rating!
I was given Assurant self-funded plan as option for a group of 85 that doesn't have ant group plan. It's a nursing home and employees are mostly on medicaid and can't afford group coverage.
I was blown away that this isn't guaranteed issued, and have no doubt that they will not qualify for this kind of coverage. So, why would this be an option if not guaranteed issued. (I know there can be healthy groups but highly unlikely when looking at group this size)
I'd be interested in option if there was a guaranteed issued component to plan.
I was blown away that this isn't guaranteed issued, and have no doubt that they will not qualify for this kind of coverage. So, why would this be an option if not guaranteed issued. (I know there can be healthy groups but highly unlikely when looking at group this size)
I'd be interested in option if there was a guaranteed issued component to plan.
Many years ago John Hancock, Confederation and maybe one other carrier would
write manually rated cases up to 150 lives.
Everyone else wanted claims experience on cases of 50 and up.
Virgin groups are almost impossible to write, especially in low income industries. Participation in a virgin group is another concern, especially one that size.
Consider yourself lucky that someone agreed to even consider it.
write manually rated cases up to 150 lives.
Everyone else wanted claims experience on cases of 50 and up.
Virgin groups are almost impossible to write, especially in low income industries. Participation in a virgin group is another concern, especially one that size.
Consider yourself lucky that someone agreed to even consider it.
