Debunking the Myths of the Mini-Med Plan

[JMO Fan]

Mini-med is appropriate for the person who can't/won't buy major med.

For them, it might be better than nothing. But it might not.

Agents should try to get such people into HDHP/HSA if at all possible.

 

[moonlightandmargaritas]

For them, it might be better than nothing. But it might not.

Glad we can get the ambiguity out of it...

 

[SportsNut]

Mini-med is appropriate for the person who can't/won't buy major med.

Scratch won't... If they CAN buy maj med but WON'T, and they wish to buy a mini-med due to price, I would NOT be the agent selling it to them.

If they CAN'T buy maj med, and there is NO state pool, or the affordability of that pool makes it unfeasible for them to buy, then they are a candidate for Mini-Med.

I would also document all of the above adequately, just in case there is ever an issue down the road.

 

[Guest]

Scratch won't... If they CAN buy maj med but WON'T, and they wish to buy a mini-med due to price, I would NOT be the agent selling it to them.

If they CAN'T buy maj med, and there is NO state pool, or the affordability of that pool makes it unfeasible for them to buy, then they are a candidate for Mini-Med.

I would also document all of the above adequately, just in case there is ever an issue down the road.

Exactly

 

[TXINSURANCE]

I am sorry I am confused.

We already have guaranteed acceptance health care. If you are uninsurable you can go to your states risk pool. If your state has political problems and no risk pool - you have HIPAA plans or another mechanism.

There is also my personal favorite - just walk into any ER in America and get the EXACT same health care as someone paying $1000/mo for coverage, and just never pay the bill.

If you are a child, there is SCHIP.

If you are over 65 there is Medicare.

If you are disabled there is Medicare.

If you are illegal you get free access to our ER services across the country - choose any facility and they will not even call immigration to deport you.

If you are incarcerated (high percentage of Americans are) you get free health care.

If you work for a company - well over half of the country gets subsidized health care and pre tax deductions of premiums.

If you have mental problems there is Medicare.

If you are hurt on the job there is workers compensation care.

If you are poor there is Medicaid and Welfare.



I am sorry can someone explain to me the problem again so I can understand?

 

[Guest]

There is also my personal favorite - just walk into any ER in America and get the EXACT same health care as someone paying $1000/mo for coverage, and just never pay the bill.

I've heard that you can't do this, it will now affect your credit report

If you are disabled there is Medicare.

If you are illegal you get free access to our ER services across the country - choose any facility and they will not even call immigration to deport you.

If you are incarcerated (high percentage of Americans are) you get free health care.

If you work for a company - well over half of the country gets subsidized health care and pre tax deductions of premiums.

If you have mental problems there is Medicare.

If you are hurt on the job there is workers compensation care.

If you are poor there is Medicaid and Welfare.

I am sorry can someone explain to me the problem again so I can understand?

What if you can' t afford insurance, are not 65, don't get offered insurance through work, can't afford GI/risk pool and make too much for medicaid, oh and aren't disabled?

Does that make it easier? LOL

 

[agent4sail]

Add to Rob's post; the State of residence (ie: Georgia) does not have a GI or high risk pool.
Client 57yo male, has great current health (8+ years). Only issue is he currently has acid reflux; In 2000, client had open heart surgery, dual bypass. He makes 6 figure income, drives nice, lives nice, and self insures. He knows that one incident can empty their savings. He has contacted me seeking someone to cover him. Any ideas?

 

[Crabcake Johnny]

First of all, all states should adopt a group of 1 plan and anyone who is self-employed should be treated like other business owners.

I get far too many leads from sole props who are uninsurable. I'd also like to see a pooling concept for sole props - maybe a state association concept.

A lot of ideas can work....but not when the issues are decided by politicians who are very well covered.

Put me in charge and here's what happens day 1:

Every politician loses state coverage and has to apply for underwritten plans. You want to see change? You'd see it within months.

 

[moonlightandmargaritas]

Client 57yo male, has great current health (8+ years). Only issue is he currently has acid reflux; In 2000, client had open heart surgery, dual bypass.

Sorry, but this guy is NOT in "great current health". Number one, a bypass is good for about 10 years, give or take, and someone with heart disease is a much, much higher risk for further cardiac stuff.

First of all, all states should adopt a group of 1 plan and anyone who is self-employed should be treated like other business owners.

I get far too many leads from sole props who are uninsurable. I'd also like to see a pooling concept for sole props - maybe a state association concept.

Here in Florida, one person group for legitimate businesses is available on a GI basis during the open enrollment month of August each year. Not cheap, but available.

 

[somarco]

open heart surgery, dual bypass

If had had opted for COBRA he could have gone through the assignment system once COBRA expired. Since he is uninsured now, that option is not available.

There are a few situations where a group of one is available. He must have a business with at least 2 on the payroll full time. One employee opts out due to existing coverage, leaving him as a group of one.

This is not an easy task as most carriers don't want to do it. Aetna comes to mind. Might be others.

You can also pursue the surplus lines market through someone like Petersen and see if they can cobble something.

Beyond that, don't waste your time and jeapordize your security with some Mickey Mouse HIP.