Golden Rule - changing plans

Mar 2, 2008

  1. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,811
    Likes Received:
    15
    State:
    South Carolina
    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.
     
  2. somarco
    Offline

    somarco That Medicare Expert Guy

    Posts:
    29,029
    Likes Received:
    2,625
    State:
    Georgia
    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.
     
    somarco, Mar 2, 2008
    #2
  3. Mr C
    Offline

    Mr C Super Genius

    Posts:
    123
    Likes Received:
    0
    At least it seems like GR is trying to better their portfolio and rates, unlike our friends at Assurant.
     
    Mr C, Mar 2, 2008
    #3
  4. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,811
    Likes Received:
    15
    State:
    South Carolina
    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.
     
  5. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,811
    Likes Received:
    15
    State:
    South Carolina
    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.
     
Loading...