Group Health: More than one carrier in a workplace?

[J.R.]

Does anybody have any experience in selling those mini-med plan SASid insurance development - Basic Health Insurance Plan

SASID is a reputable company from what I hear, so I doubt they'd offer a product that isn't up to par....

If anybody has another mini-med they sell that is credible I'm all ears....

 

[James]

Does anybody have any experience in selling those mini-med plan SASid insurance development - Basic Health Insurance Plan

SASID is a reputable company from what I hear, so I doubt they'd offer a product that isn't up to par....

If anybody has another mini-med they sell that is credible I'm all ears....

Here in Tennessee we have CoverTN, a mini med sponsored by the State and via BC. No money in it but, I can direct them to the website and it is easily done by the owner. Groups of 50 or less now it goes up to groups of 75 this year with 50% of employees making less then 40 grand yearly. Payments are split three ways, State, Employer and Employee. Siimply unbeatable in TN in most cases for small groups.

 

[Crabcake Johnny]

I only see legal liability if you lie when you sell a plan. Carefirst has $500 drug caps in MD and I have no idea what percentage of the individual market they have but it's more than 50%.

If I tell a client "Joe, this plan has a $500 yearly drug limit" and Joe says "Ok, sell me the plan" I cannot be sued.

"Can" Joe sue me? Sure, he can pay his $25 filing fee and serve me with papers but I can't imagine Joe finding an attorney to take the case.

Attorneys only work for no money upfront when the is a "slam dunk" and they know they're receive a percentage of the judgement. However, when they actually have to work; ie; research and try the case the client must now pay the hourly rate upfront.

The other issue is "lawsuit 101" - never sue anyone for an amount of money you can't collect on.

Anyone here want to sue me for $100,000? And exactly how would you execute on that judgement? I'd just BK and in MD BK protects the house - in many states you can't take anyone's house for a civil judgement so again, they simply BK on the judgement and the person who sued is ass out.

Most of the times when "people" are sued it's small claims. That's why I flat out laughed at UGA when they threated to sue me. I was actually on the phone with one of their attorneys and said, verbatim "who are you trying to fool. You can't sue me since you know you'll never collect a dime. So stop wasting my time."

 

[somarco]

Actually, these guys are right. There is nothing wrong with selling Mega, United American, Right Start, Copay Saver or anything else you can make a buck off of as long as you explain to the client what a piece of **** the plan is. Do that, and you can never be sued.

Even if you are sued, quickly go and hide your assets. No one will ever know.

What was I thinking?

 

[Crabcake Johnny]

Bad analogy. There's nothing wrong with selling a plan that's less comprehensive if there are no other options available for the client.

Yes, selling a Mega plan when you could sell a client Copay Select is unethical. But what if GR declines? In my state I'm off to Assurant's Max or HSA. What if they can't get Max or HSA?

Then I'm off to CoreMed. Oh, the 50% drug coinsurance sucks? Sure does. Is it better than Carefirst's $500 cap? Yep.

Oh, but now I have a 62 year old overweight smoker? Done with GR and Assurant and now onto Carefirst. It is what it is.

What I think you're saying is if you can't afford a car with all the top safety features it's better to not have a car at all. I disagree.

Or in the case or health insurance a better analogy would be qualifying for a car. If you're health sucks yes, you take what you can get and options often suck.

If you're credit sucks you're not going to that new car lot - you're going to "Big Billy's Buy Here Pay Here Car Emporium" where you pay 29% interest on a 1998 Cavalier. But if you need a car to get to work then you need a car.

 

[James]

Actually, these guys are right. There is nothing wrong with selling Mega, United American, Right Start, Copay Saver or anything else you can make a buck off of as long as you explain to the client what a piece of **** the plan is. Do that, and you can never be sued.

Even if you are sued, quickly go and hide your assets. No one will ever know.

What was I thinking?

The Almighty Buck, now you're talking like a real American!