Confused About this ObamaCare...

[summerof18]

Selling uninsurable health is going to be something new to me. And I have not been able to keep up with this Health Care reform because I read one thing and then another and they all say something different.
If they are going to be accepting individuals into Major Med plans who have pre existing conditions, then what will be the point of offering and selling these GI Indemity plans to unhealthy people.
Thanks, Confused.
Please someone explain to me in simple terms! LOL

 

[AllenChicago]

Selling uninsurable health is going to be something new to me. And I have not been able to keep up with this Health Care reform because I read one thing and then another and they all say something different.
If they are going to be accepting individuals into Major Med plans who have pre existing conditions, then what will be the point of offering and selling these GI Indemity plans to unhealthy people.
Thanks, Confused.
Please someone explain to me in simple terms! LOL

Welcome to the forum SummerOf18. You'll be able to sell the GI plans to unhealthy people without having to ask any questions. These unhealthy people will be extremely grateful to you, which is what makes selling insurance very rewarding. Hope that answers your question. Don't read any sources other than this forum and you'll be just fine.

By the way SO18, it would be WISE OF YOU to glance over the relevant discussions in this forum since March 2010. Then you'll be all caught up, and can ask your next question.
-allen

 

[taterpeeler]

If they are going to be accepting individuals into Major Med plans who have pre existing conditions, then what will be the point of offering and selling these GI Indemity plans to unhealthy people.
Thanks, Confused.
Please someone explain to me in simple terms! LOL

there will be none... in my view the gi limited benny plans IE: discounts cards with little insurance coverage will vanish in the darkness of night.

are these the plans you are currently marketing?

 

[Yagents]

Today, agents sell GI policies to the uninsurable because they can't get insurance in today's market.

Under Obamacare starting 1/1/14, any agent that sells this type of policy, when a major medical policy is available to the un-insurables is asking for trouble. (lawsuits)

 

[summerof18]

Well after reading the new law, I understand it now. Basically Maj Med will be accepting unhealthy people, but will be VERY VERY VERY expensive, so the Indemity plans may be another option for them. Thats why I will be offering it.
Your thoughts now?

 

[pahealthquotes]

Well after reading the new law, I understand it now. Basically Maj Med will be accepting unhealthy people, but will be VERY VERY VERY expensive, so the Indemity plans may be another option for them. Thats why I will be offering it.
Your thoughts now?

most maj medical plans are already very expensive. Many people will qualify for subsidies. as Peeler stated, mini meds and bull crap discount plans will be gone like a fart in the wind.

 

[Yagents]

indemnity plans should only be sold to those that can't afford the subsidized or non subsidized major medical plans, and who decide to pay the penalty instead, but want some minimal protection. The agent should get a signed disclaimer from the client

 

[summerof18]

Hmmm maybe I should stay away from the health mess and just stick to my life sales and medicare! lol. I havent done mortgage protection before, but thinking off adding that to my list. Your thoughts on MP?
gees now Im all confused on what to get back into selling!

 

[taterpeeler]

as Peeler stated, mini meds and bull crap discount plans will be gone like a fart in the wind.

I like to poot in an elevator and blame it on my 4 year old...

 

[Ann H]

In 33 years in the health insurance business, I have never sold a limited benefit policy. Some agents think they "must offer the client some sort of insurance" if the client cannot get major medical. But I don't think limited benefit meets my ethical standard of "some sort of insurance". When the accumulated premium is larger than any reasonable expectation of claim payment, it is not in the best interest of the client.

Some IFP agents hate group insurance, but I'll tell you that it is an ethical, responsible way to get Guaranteed Issue coverage. Sure I would rather have people own their own policies. But it has been a good option for those who can't. And now that underwriting will change from medical underwriting to income-based underwriting, many won't qualify for major medical due to price alone. That could make the mid to upper class the new uninsured class. I am hoping the private market will return fixed indemnity to a highly regarded standard by keeping the method of payment but dumping the "limited benefit" problem. But if they don't, I still can't sell limited benefit policies when the premium-to-benefit ratio is so bad.