What hospital was this?
Buh Bye Assurant - Up for Sale / Exiting Market
- Thread starter Yagents
- Start date
What hospital was this?
Yes, I agree that carrier compression is here. True, a huge number of agents predicted that these results would come, and here they are. We will sell the best option until it's gone, then sell the best alternative option. Until it's gone...
This really isn't the beginning of carrier compression. Here in AZ, there are 10 players, and 4 are non-commissionable already, with a 5th having laughably low commissions.
The mutilation of the Risk Corridor calculation is to blame for much of this, but not all. The govt changed the rules mid-stream, and the insurance companies had been counting on reimbursement under the old system, only to find they will receive no reimbursement under the new system. That accounts for massive losses, and Assurant named that issue as a large portion of the cause of their losses. Other carriers are saying the same thing.
The rest of their losses are claims losses. Of course, we all have been saying that Assurant gave away the piggy bank in the way they priced for adverse selection with a fantastic network and great benefits. They should have known better. They FAR exceeded the competition with excellent network & benefits, attracting the sickest.
This really isn't the beginning of carrier compression. Here in AZ, there are 10 players, and 4 are non-commissionable already, with a 5th having laughably low commissions.
The mutilation of the Risk Corridor calculation is to blame for much of this, but not all. The govt changed the rules mid-stream, and the insurance companies had been counting on reimbursement under the old system, only to find they will receive no reimbursement under the new system. That accounts for massive losses, and Assurant named that issue as a large portion of the cause of their losses. Other carriers are saying the same thing.
The rest of their losses are claims losses. Of course, we all have been saying that Assurant gave away the piggy bank in the way they priced for adverse selection with a fantastic network and great benefits. They should have known better. They FAR exceeded the competition with excellent network & benefits, attracting the sickest.
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The risk-corridor provisions are so technical that most agents and insurance company employees don't understand them. Yet, subtle negative changes to the provisions, (from the insurers perspective) help drive companies out of business.
We can only imagine what the government will do to pull the rug out from under remaining insurers before, or during, 2016 Open Enrollment. There are thousands of lines within the rules that could be tweaked.
Aside from the impending SCOTUS decision, what is the Congress eyeing right now to hurt health insurers further?
We can only imagine what the government will do to pull the rug out from under remaining insurers before, or during, 2016 Open Enrollment. There are thousands of lines within the rules that could be tweaked.
Aside from the impending SCOTUS decision, what is the Congress eyeing right now to hurt health insurers further?
Already there in most states, unless you don't consider Blue a dominatrix.
You can probably get a Tel-a-doc to write one for you.
Lee has been in this business almost as long as I have been, and he was trained by one of the best in their day. The man knows his stuff.
They actually changed the rules before it ever got out of the starting gate. So many administrative changes it makes one question why they even bothered to pass a law. Why not just do everything ad hoc?
- Thread starter
- #26
How did you know?
Teladoc files for IPO
http://www.modernhealthcare.com/art...0429-NEWS-150429885&utm_campaign=financedaily
You can get unlimited, no consultation cost Teladoc for the family for less than $15 a month and it comes with a discount dental plan.
It actually pays 40% commission lifetime, I just haven't been motivated to go out and market the package.
What? You mean you haven't been motivated to market something that will pay you the whopping sum of $6 per month?
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