Goldenrule MLR Refund - Received

[DavidH]

I am in PA...family plan with $5k deductible. Just received my Golden Rule refund of $977 (quarterly premiums were about $2500).

 

[somarco]

Just received my Golden Rule refund of $977 (quarterly premiums were about $2500).

Kinda makes you wonder how badly they were ripping you off in the past, huh?

 

[DavidH]

Kinda makes you wonder how badly they were ripping you off in the past, huh?

Of course it does...I have been with Golden Rule since January 2002 when I no longer had employer-sponsored health insurance. If I recall, it started at about $200/mo for family coverage and a $1k deductible (maybe even less)...and every year it would go up significantly (and I would raise the deductible to lessen the pain). Luckily we have been a pretty healthy family. The biggest benefit was the drastic discounts in provider costs...especially on things like labwork. The lab would bill Golden Rule, say $120 for some blood work. GR would mark it down to $11 and then not pay it...but at least then I had to only pay $11 and not $120. But finally I have employer-sponsored health insurance again (Aetna)...doesn't save me much money, but much much better coverage and only a $500 deductible!

 

[somarco]

The biggest benefit was the drastic discounts in provider costs...especially on things like labwork. The lab would bill Golden Rule, say $120 for some blood work. GR would mark it down to $11

The "discounts" are undersold by agents and under-appreciated by policyholders for the most part.

The most common complaint I hear, including from some of my clients is, "I had this claim and the carrier didn't pay anything".

I offer to replace their high deductible plan with a lower deductible, copay plan but when they see the premium increase they decide to keep what they have.

Gonna get real interesting out there come 2014 . . .

 

[VolAgent]

The "discounts" are undersold by agents and under-appreciated by policyholders for the most part.

The most common complaint I hear, including from some of my clients is, "I had this claim and the carrier didn't pay anything".

I offer to replace their high deductible plan with a lower deductible, copay plan but when they see the premium increase they decide to keep what they have.

Gonna get real interesting out there come 2014 . . .

I just wish I could get that discount on excluded claims. I'll pay marked down costs all day long.

 

[dgoldenz]

Got my free Obamacare money yesterday. 33 cents from United Healthcare and 86 cents from Anthem.

 

[somarco]

I just wish I could get that discount on excluded claims.

That WOULD be nice.

Before Obamacare, I sold a fair number of Assurant HSA's with a $10,000 deductible maternity rider. Just a few dollars a month (I think less than $10).

Take the premium savings over a traditional maternity and use it to fund the HSA.

Worked like a charm once folks understood it.

 

[Yagents]

So 30 of my old book of goldenrule clients got refunds ranging from 4-7% with avg of 5%, but got rate increases ranging from 10-16% w/avg of 12%. I figured the companies will make it up in about 5 months of higher premiums.