Freedom Life - Avoids Reform with Sneaky Maneuver

Nov 1, 2011

  1. AllenChicago
    Offline

    AllenChicago Guru

    Posts:
    8,434
    Likes Received:
    27
    State:
    Illinois
    Today, a health insurance client forwarded to me a proposal from Freedom Life (US Health Group). I recognized the plan because I used to sell Freedom Life before 2007.

    What amazed me is that the policy has a $5,000,000 life-time cap. Upon closer inspection of the 28 page brochure, I never found the words "major medical". There was a statement that said, "This specialty plan will not subject you to the limitations of Health Reform laws" (paraphrased).

    So it appears that by refusing the remove the $5,000,000 lifetime cap, Freedom Life avoided having their plans and company subject to every aspect of HealthCare Reform, including the MLR, Preventive Care, etc.. It is essentially the same plan they've sold for the past 10+ years, but can't legally be called "Major Medical". Very SNEAKY of them.

    At $361 @ month for a 44 year-old smoker ($6,000 deductible w/ 70-30 of $20,000 and Critical Illness/Accident deductible elimination riders) it was quite expensive, but the brochure was laid out so well with real life stories and examples that the client was impressed enough to consider dumping his $329 a month $1,500 deductible HSA...thinking that the Freedom Life was better! All the more reason why our expertise is so needed during this crazy Health Insurance Reform era we're entering.
    -Allen
     
  2. Norwayguy
    Offline

    Norwayguy I have spent way too much time here.

    Posts:
    8,678
    Likes Received:
    97
    State:
    Maine
    Re: FREEDOM LIFE - Avoids Reform with Sneaky Maneuver.

    I know I don't sell health but are you telling me the client voluntarily paid $32 more per month, increased his deductible $4500 as well as having an additional $6000 of coinsurance because of critical illness and accident elimination riders?
     
  3. AllenChicago
    Offline

    AllenChicago Guru

    Posts:
    8,434
    Likes Received:
    27
    State:
    Illinois
    Re: FREEDOM LIFE - Avoids Reform with Sneaky Maneuver.

    He ALMOST did, because the brochure was so eye-grabbing. I found out that the agent who pitched the Freedom Life proposal is making his rounds with local business owners, like my client. Apparently he's doing a brisk business just walking in and dropping off this brochure.

    I guess it's the world we live in.. Flash and Sizzle sells.
    -ac
     
  4. STIBROKER
    Offline

    STIBROKER Like My post and enter the DRAWING,,,, Moderator

    Posts:
    10,550
    Likes Received:
    546
    State:
    Texas
  5. somarco
    Offline

    somarco GA Medicare Expert

    Posts:
    29,571
    Likes Received:
    3,439
    State:
    Georgia
    Using the link Scott provided it would seem it is a mini med. Value Care or Value Choice.

    I saw nothing about a $5M limit on any of the plans.
     
    somarco, Nov 2, 2011
    #5
  6. AllenChicago
    Offline

    AllenChicago Guru

    Posts:
    8,434
    Likes Received:
    27
    State:
    Illinois
    The plan is called "Secure Advantage". I'll figure out how to do a forum attachment and post the brochure here later today.
    -Allen
     
  7. taterpeeler
    Offline

    taterpeeler Guru

    Posts:
    6,999
    Likes Received:
    15
    State:
    Texas
    i have doubt... why?
     
  8. AllenChicago
    Offline

    AllenChicago Guru

    Posts:
    8,434
    Likes Received:
    27
    State:
    Illinois
    OK..I think the Freedom Life "Secure Advantage" brochure has been successfully attached to this post. At 1.3mb, it's a biggie, but upon inspection you'll see why some people can be dazzled by this thing. It's not major medical (under today's definition), but not a mini-med either. Rather an overpriced combo of sickness/critical illness/injury rolled into one.
    -AC
     

    Attached Files:

Loading...