Guaranteed Issue - Health Insurance Innovation?

[Suis]

That's unfair to say that these agents are only interested in their commission.

As for wanting to help everyone - sheesh, we're not talking donations here. Or Health Care Reform. Maybe we don't want to only help those who can afford it.

What are agents saying when they ONLY base their help on whether the client won't drop out, OR there won't be commissions "down the road" because the client will leave.

Some people need and want alternatives. Turns out a client of mine can't insure herself. This alternative is just that - an alternative - and it helped her when she had no help. And when she CAN cancel and change to regular health insurance, or pcip or whatever, then she will - and I won't mind because I DO want to help those I can. It's not like it's THAT difficult to sell this plan.

It's one thing to give an opinion about a product - another to chastise and degrade someone who doesn't agree with you.

I learn so very much from this forum and eagerly refer it to fellow agents except I wish I didn't have to caution them to not let the few mean posters get to you. I won't! But I try to remember to be polite and "mind my manners".


Why can't we just be "educational" and not act like we're deity - give opinions in an educated and fact like manner?

One thing I always note - the members of this forum are knowledgeable, experienced and sometimes brilliant and always helpful in different ways.

Hey, we're all in the same boat - let's paddle in sync.

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Thanks for your input and for sharing your experience with this - I'll keep it in mind!
Sue

Ignore all the negative agents, they are the unsuccessful ones.
I never met a whiner yet who made any real money!
When people fail conventional underwriting, but cannot afford the State risk pool plans, The limited Indemnity or Mini med plans as they are often called, make for an affordable solution for their anxiety.
There is no shame in selling insurance, when your products are clearly presented. I sell about 80 - 100 major medical plans every month, and a few of these plans are sold as well. In fact, I sell the particular one you have mentioned here! The 40% commission is not hard to take either, lol !
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Good product! I've been selling it since it's inception! and have been dealing with the same people for over 25 years!

 

[thall]

bcbroker, I doubt that anyone on this forum would be able to educate you on this product. It sounds like your base of clients are also uneducated. Just my personal spin on the situation. t hall Is that some of that Ala. public education? Junk

 

[669comche]

Its still junk, no matter what you say.

My post was in relation to the previous poster who liked his "40%" commission.

Have you actually tried looking at the numbers and figuring out exactly what those types of plans will pay out.

The only way they work at the $1k or $2k per day is if they are in hospital for 30 days or more. I am sorry, but they are poorly designed plans that are expensive and again designed ONLY to help the company that arranges them and the agents that sell them.

Why not put more benefits into it and get rid of the ridiculous 40% commission?

I will tell you why: They never intend on paying out anything in claims and need large commissions to "lure" brokers to sell it.

Its daylight robbery as far as I am concerned.

 

[DS4]

I was recently in our local hospital er outpatient (4 hours) for a kidney stone.
The ER room was $7191.94
The physician fee was $275.
I went here, Health Essential
and for me, the best plan is $279/month.
According to the schedule of benefits, this plan would pay $50.
Someone please prove to me this plan is not crap!
I would guess the loss ratio on this crap at less than 5% of paid premium.

 

[Suis]

But then what if the alternative is to pay the TOTAL bill yourself!
I've heard Defined Solutions may be better but this isn't too bad for those who:
1 Do not have adequate health insurance
2 Have health insurance with high deductibles or out-of-pocket expenses
3 Want to supplement the coverage you may have

Insurance Benefits
-Guaranteed Issue for members & their spouse's ages 18 through 64,
and dependent children through age 26
-$1,000,000 Lifetime Maximum per Covered -PersonU.S. Citizenship not required, only U.S. residency for 12 consecutive months

-In-Hospital Daily Indemnity -
Choice of $500, $750, $1,000 or $1,500 per day
Surgery, Anesthesia, Lab, X-Ray, Wellness, Emergency Room and Ambulance benefits
-Doctor Office Visits - Choice of $25, $50 or $75 per visit benefit *
-Doctors Office Wellness Visit - Choice of $50 or $75 for one visit benefit *
-$2,000 Accidental Injury Medical Benefit
-$10,000 Accidental Death and Dismemberment * You can select the NEW option to change the Doctors Office Visit benefit from an Indemnity to a $30 or $20 Co-Pay Benefit. Non-insurance Benefits
-Access to Beech Street PPO Network Savings
-MedCare USA Prescription Discount Card
-Vision Discounts

Ok enough said about this. Not trying to convince you - just want opinions and I got them - back to work!

 

[bill3173]

Ok enough said about this. Not trying to convince you - just want opinions and I got them - back to work!

These policies have their place and some are better than others. I have people in some of the Companion Life benefit plans, that have called me back to thank me for getting them the coverage and let me know that the drug coverage alone was worth the premium.

The commission is low but the retention rate is high. The only time anyone drops it is if they get a job with group coverage at a lower premium.

 

[DS4]

But then what if the alternative is to pay the TOTAL bill yourself!

Are you serious? Is Luke your brother?
Using my example, I have $7466.94 in expenses and the plan pays $50????
Yeah, your right, I should pay a $279/month premium for this valuable protection so you can make your commission.

 

[Suis]

I don't see the same you see - use the higher paid plan. Luke? Luke Skywalker? Luuuuuke. No, he's not my brother.

Are you serious? Is Luke your brother?
Using my example, I have $7466.94 in expenses and the plan pays $50????
Yeah, your right, I should pay a $279/month premium for this valuable protection so you can make your commission.

 

[DS4]

I don't see the same you see - use the higher paid plan.

I used the most expensive of the 4 plans. Do the 3 cheaper premium plans have better benefits???
I think you are Luke'in me.

 

[thall]

Suis, sell the crap, I don't believe that comm. has anything to do with it with you, you honestly think that you are helping people with this kind of junk. As long as you believe in it you'll do well with it.