Golden Rule - changing plans

[Crabcake Johnny]

GR - changing some benefits effective April 4th - at least in MD.

*lower rates for Copay Select ($5,000 ded) and HSA 100 ($7,500+ ded) only

*No limits in preventative

*4 tier drug plan for Copay Select:

Tier 1 - generic $15 copay
Tier 2 - $30 copay w/$150 deductible
Tier 3- $60 copay w/$150 ded
Tier 4 - 25% coinsurance

Tier 4 makes me a bit concerned - I'm gonna want clarification on which drugs fall into certain classes. Chemo or drugs to counteract the effects of chemo could easily be Tier 4.

The 4 tiered drug plan is available on Plan 100 and Plan 80.

 

[somarco]

Humana does a 4 tier Rx with the 25% coinsurance capped at $2500. Tier 4 is injectables.

GR has been rolling out new plan designs in other states. GA remains the same as a non-association offering and individual filing. GR tells me it may be a while, if ever, before some of the new plans are available here.

They are supposed to have a new underwriting manual sometime this spring with more liberal wt limits.

 

[Mr C]

At least it seems like GR is trying to better their portfolio and rates, unlike our friends at Assurant.

 

[Crabcake Johnny]

So true - I've been hearing now for over 2 years that Assurant's gonna become more competitive and I have yet to see it. I do well with their HSA when GR's gonna get nasty with underwriting. If Assurant tracks the way they've been tracking I'd say within 2 years they'll be in very big trouble.

Last year they had a sales decrease of 25% from the previous year. Their reaction to that? Quarterterly rate increases.

Problem is Assurant has no reason to change anything while they have agents running around selling Right Start.

 

[Crabcake Johnny]

Humana does a 4 tier Rx with the 25% coinsurance capped at $2500. Tier 4 is injectables.

GR has been rolling out new plan designs in other states. GA remains the same as a non-association offering and individual filing. GR tells me it may be a while, if ever, before some of the new plans are available here.

They are supposed to have a new underwriting manual sometime this spring with more liberal wt limits.

Yes, I also get a new broker's guide in the mail yesterday - going through it today. No limitations on wellness is a very nice benefit change.