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Death Spiral? Short-term Health Plans Grow As Cheap Alternative to ObamaCare
- Thread starter Tkruger
- Start date
- 8,448
If agents promised some of the things said in that article, we'd lose our license. The SPIN continues and escalates from both ends of the political spectrum.
I won't write a short term plan for more than a couple of months until someone at a company like Health Innovations, anyone, has the balls to say that claims would be paid for a heart attack if someone was being treated for high cholesterol or for a Stroke or TIA if someone is being treated for hypertension.
I've asked this question of multiple insurance companies (including Health Innovations) and am always told it depends on the claim and health history-a convenient way of saying 'we will do anything to deny a claim regardless of what we say in public'.
I've asked this question of multiple insurance companies (including Health Innovations) and am always told it depends on the claim and health history-a convenient way of saying 'we will do anything to deny a claim regardless of what we say in public'.
- 8,448
We have an agent in our office with a $47,000 claim pending with his Errors and Omissions policy right now. A Short Term Medical he sold in Feb 2014 didn't pay for a May 2014 emergency appendix surgery. STM company claimed it was an already existing condition within his body, that had never been diagnosed. They couldn't sue the powerful insurance company, so now they're targeting the agent, saying they didn't give him the go-ahead to start the policy.
I have one STM family left. Husb/Wife are dentists. They buy a new $3,000 deductible STM every January. I remind them of the short-comings...and now the tax penalty. But they can't fathom paying $1,500 per month for Major Medical. But they're paying $860 for the STM.
To be honest, most health insurers are screwing the public BIG TIME by taking advantage of the demand for STM. The prices have gone up over 50% in the last 3 years, with claim payouts not increasing anywhere near that...if increasing at all. Real bastards they are!
The ONLY decent priced one I've found in Illinois is from BCBS. It costs a whopping 50% to 60% LESS than everyone else. But, unfortunately for those with modest incomes, you have to pay for all the months you need, right up front. No refunds.
ac
I have one STM family left. Husb/Wife are dentists. They buy a new $3,000 deductible STM every January. I remind them of the short-comings...and now the tax penalty. But they can't fathom paying $1,500 per month for Major Medical. But they're paying $860 for the STM.
To be honest, most health insurers are screwing the public BIG TIME by taking advantage of the demand for STM. The prices have gone up over 50% in the last 3 years, with claim payouts not increasing anywhere near that...if increasing at all. Real bastards they are!
The ONLY decent priced one I've found in Illinois is from BCBS. It costs a whopping 50% to 60% LESS than everyone else. But, unfortunately for those with modest incomes, you have to pay for all the months you need, right up front. No refunds.
ac
- 8,448
Lucky you! Your sister BCBS here in Il was planning to allow monthly PAC for 2014, but suddenly changed their minds at the last minute.
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Thanks for that post about the E&O claim, Allen......I have never been a fan of products that are underwritten at the time of claim......
AC, which carrier denied the appendectomy? Instead of going after the broke agent they should be pursuing deep pockets carrier. A combination of 6 o"clock news and Twitter should get the carrier to cough up the bux.
Why couldn't the PH sue the carrier?
I am not a fan of STM but seriously considering making it available to my clients that claim they will go bare in 2015 since they can't afford their upgraded Obamacare plan.
Something isn't adding up here.
Why couldn't the PH sue the carrier?
I am not a fan of STM but seriously considering making it available to my clients that claim they will go bare in 2015 since they can't afford their upgraded Obamacare plan.
Something isn't adding up here.
STMM is like lighting a firecracker in the toilet of a fat man with gas
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