Copays vs. HSA's....LEt's Get it ON!!!!!!!!!

Assurant also allows clients to keep the plan if they move to a GI state. Last year I had one client move to WA and two move to NY. They got to keep their plan and switch to the PHCS network.

And Scott, I'd love to be able to sell Unicare from time to time but I don't live in one of the 3 states they sell in:D
 
The standard PPO plans are laced with extra OOP in the form of multiple deductibles which have to be met by at least two (usually 3) family members. After those deductibles are met, guess what, there's coinsurance on top of that (Assurant LOVES to price those 80/20s out of oblivion) which is often 50/50 until a few more grand are out of pocket.

And, the copays don't count to the deductible. And, medical expenses are not likely to be pre-tax. And Rx drugs have a separate per person deductible on brand Rx adding even more OOP.

When the agent adequately explains the amount of OOP on the reasonably priced PPOs and compares it to the HSA-compatible plan, far less people will go with the copay PPO than they usually would when the agents focus only on the copays and not the MULTIPLE deductibles (which many agents don't go out of their way to clarify). Case closed. Fat lady is wailing not singing.

How many cases have you personally run into where 3 people in the same family have had pneumonia in the same year?? What are the actual odds of 3 people in the same family all getting cancer in the same year? 2 deductibles, 3 deductible who really cares! The odds of them maxing out the deductibles per family isn't really going to happen!!

With HSA's you got one deductible. Let's say one person gets hospitalized and hits the deductible. What are the odds that the rest of the family is going to get sick in the same year? Not very good! So maybe a doctor visit or two will be covered, wow, huge savings!!

Now most of you will say, what if everyone in the family is in a car and it gets hit! Bam, 3 deductibles right? This is why I put all my clients on an accident/injury plan which will cover them up to their deductible! What's the risk? Not much!! They are overall covered better than they were before without it!

I'm not saying I love HSA's, and I'm not saying that I love Co-Pay plans. There is a place for each and I do sell both. It just depends on the client and that is the bottom line!


By the way I can easily replace an HSA with a Co-Pay plan, and a Co-Pay plan with an HSA! There are techniques that I have picked up that make it an easy sale!! Bring on either one!
By the way I have me and my family on an HSA! :)
 
There is ONE scenerio where writing husband and wife on a single HSA policy makes sense. Let's use the example above with a $4K individual deduct vs. an $8K family deduct.

Say the wife broke both legs and had $20K worth of bills. The husband then 'skates free' the rest of the year.

But it is a scrim in that it looks 'real' but the family didn't save any money as opposed to having two $4K deducts AND both get used. However I think it was John P. who had a valid statistic that shows that the overwhelming number of people never reach their deductible most (like 90%) of the years they hold the policy.

Al
 
Kris, I agree to a point & understand your logic.

Multiple family members sick in the same year are low odds. Better odds for multiple family members in the same car accident.

Happens more often than you think.

Not all carriers offer aggregate family deductibles. Some offer their HDHP as $3000 per person, limit 2 per family.

As I move my client toward a $3000 deductible with coinsurance, I point out that their OOP on a major claim is $5000 (including coinsurance). From there it is not a big leap to get them on a $5700 family deductible.

If they are going to breach their deductible it is most likely going to happen in one day in the hospital. They will hit their OOP by the first or second day at the latest, especially with an emergency admission.
 
Then go Google "Wellpoint lawsuit" and tell them to start paying some.


Yea when your the biggest and have the deepest pockets they come after you.....I did the google and I am getting things like this.....


http://www.ama-assn.org/amednews/2005/08/01/prl20801.htm

"WellPoint, the nation's largest private health insurer with about 28.5 million members"

http://www.medicalnewstoday.com/medicalnews.php?newsid=27347

"Wellpoint is the fifth "major insurer" to settle with the physicians....."
 
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