Ugh. I listed to the whole hour and a half video!
They start out weak and end up strong, in my book. Their first point is a marketing idea they have to get brokers to write as much business in 2013 as possible, under the reasoning that UH1 can continue to renew those policies year after year without changing them to QHB plans. Their reasoning is weak. It is based on a speech Obama made after the Supreme Court ruling saying people can keep their current plan. Obama's speeches are not law. Personally, I think this is a marketing push for 2013 business, and I wonder if it will stand up in 2015 and beyond!
At the 49 minute mark, he begins talking about UH1 planning to have compliant QHB's outside the exchange, but also that they "have a game plan" for limited benefit (possibly fixed indemnity?) plans, but they are working with the govt now to make sure those plans are compliant before they release them. I want to keep my eye on this, because if a quality carrier designs a fixed indemnity plan that is NOT severely limited in benefits (like the fixed indemnity plans we see on the market now), then this is a major alternative for those who can't afford Obamacare. Note that he also said some of them may be underwritten.
Beginning at the 54 minute mark is when they really discuss UH1's decision to not participate in the public exchanges. Note that he specifies that it is Golden Rule/UnitedHealth One. United Health Group owns a lot of carriers, so perhaps some of them will participate on the exchange. At the 1:12 mark, he reiterates that UHC and GR/UH1 are separate entities even though UHC owns GR/UH1.
As a part of the previous discussion, and especially at the 58 minute mark, they seem to make a distinction between what HIX participating carriers can do vs carriers who are not participating on the HIX public exchanges. A quote from the 58.05 minute mark is, "So again, the bottom line is if someone is on the public exchange and, as far as we know, on renewal or sooner for interim health sales, you will be pushed out of your current plan and you will have to purchase a guarantee issue metal plan. I know of no exception to that." BTW when he says, "if SOMEONE is on the exchange", he means if a CARRIER is on the exchange. Also, their term "interim health sales" means sales that are not grandfathered, but that are before 1/1/2014. Again at just before the 1 hr 5 min. mark, he restates that UH1 is NOT going to be immune to Obamacare rules like MLR, but they have more flexibility if they don't participate on the public exchange at all. They reiterate in following discussions that UH1/Golden Rule is not going to be on the public exchange.
At about the 1 hour mark he makes a point that I've made repeatedly. People who get subsidies will still often pay as much for their health insurance as they pay now. That's because the premiums will spike, and also because they may have to pay up to 9.5% of their income for their share of the premium. Granted, they will be getting a better health plan, but not everyone wants to spend almost 10% of their income on a richer health insurance plan.
At the 1:03 minute mark - UH1 reiterates that the under 400% of FPL market is not the majority of their business today. It is the small business owner, professional, and the over 400% crowd.
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EDIT: While I was listening to the 1 1/2 hour video and typing my post above, AllenChicago saw that the video has been removed from the internet. So...... at least we know where GR/UH1 is headed, and that gives us a lot of insight!
They start out weak and end up strong, in my book. Their first point is a marketing idea they have to get brokers to write as much business in 2013 as possible, under the reasoning that UH1 can continue to renew those policies year after year without changing them to QHB plans. Their reasoning is weak. It is based on a speech Obama made after the Supreme Court ruling saying people can keep their current plan. Obama's speeches are not law. Personally, I think this is a marketing push for 2013 business, and I wonder if it will stand up in 2015 and beyond!
At the 49 minute mark, he begins talking about UH1 planning to have compliant QHB's outside the exchange, but also that they "have a game plan" for limited benefit (possibly fixed indemnity?) plans, but they are working with the govt now to make sure those plans are compliant before they release them. I want to keep my eye on this, because if a quality carrier designs a fixed indemnity plan that is NOT severely limited in benefits (like the fixed indemnity plans we see on the market now), then this is a major alternative for those who can't afford Obamacare. Note that he also said some of them may be underwritten.
Beginning at the 54 minute mark is when they really discuss UH1's decision to not participate in the public exchanges. Note that he specifies that it is Golden Rule/UnitedHealth One. United Health Group owns a lot of carriers, so perhaps some of them will participate on the exchange. At the 1:12 mark, he reiterates that UHC and GR/UH1 are separate entities even though UHC owns GR/UH1.
As a part of the previous discussion, and especially at the 58 minute mark, they seem to make a distinction between what HIX participating carriers can do vs carriers who are not participating on the HIX public exchanges. A quote from the 58.05 minute mark is, "So again, the bottom line is if someone is on the public exchange and, as far as we know, on renewal or sooner for interim health sales, you will be pushed out of your current plan and you will have to purchase a guarantee issue metal plan. I know of no exception to that." BTW when he says, "if SOMEONE is on the exchange", he means if a CARRIER is on the exchange. Also, their term "interim health sales" means sales that are not grandfathered, but that are before 1/1/2014. Again at just before the 1 hr 5 min. mark, he restates that UH1 is NOT going to be immune to Obamacare rules like MLR, but they have more flexibility if they don't participate on the public exchange at all. They reiterate in following discussions that UH1/Golden Rule is not going to be on the public exchange.
At about the 1 hour mark he makes a point that I've made repeatedly. People who get subsidies will still often pay as much for their health insurance as they pay now. That's because the premiums will spike, and also because they may have to pay up to 9.5% of their income for their share of the premium. Granted, they will be getting a better health plan, but not everyone wants to spend almost 10% of their income on a richer health insurance plan.
At the 1:03 minute mark - UH1 reiterates that the under 400% of FPL market is not the majority of their business today. It is the small business owner, professional, and the over 400% crowd.
- - - - - - - - - - - - - - - - - -
EDIT: While I was listening to the 1 1/2 hour video and typing my post above, AllenChicago saw that the video has been removed from the internet. So...... at least we know where GR/UH1 is headed, and that gives us a lot of insight!
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