Has Aetna individual health dumped out of your state yet....

Discussion in 'Health Insurance and Ancillary Benefits' started by STIBROKER, Dec 15, 2006.

  1. STIBROKER
    Offline

    STIBROKER God Moderator

    Posts:
    10,017
    Likes Received:
    33
    State:
    Texas
    word on the street is hitting people with big increases.....
     
  2. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,814
    Likes Received:
    9
    State:
    South Carolina
    Filed for 19% in MD - filed for 27% in VA and dumping maternity in VA.
     
  3. BKrocko
    Offline

    BKrocko Guru

    Posts:
    314
    Likes Received:
    1
    They just re - entered the CO market and are offering a good product with some of the best rates around for single people. Good small group rates as well. K-Dub is already appointed with them and has had success with the product offering. I will be looking into being appointed with them next week. They give a 12 mth lock on the premium but I wounder if it's a "teaser" rate.

    World increase is 20% this year and Anthem is 25%.
     
  4. taterpeeler
    Offline

    taterpeeler Guru

    Posts:
    7,003
    Likes Received:
    14
    State:
    Texas
    sti...... where the hell did u hear that at?
     
  5. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,814
    Likes Received:
    9
    State:
    South Carolina
    Watch the potential "double-whammy" with Aetna regarding the age bands. Say you sell a client a family plan who's 44 years old. Yes, they now get a one year lock but at the end of that year it's the normal rate increase plus another steep increase since they went into next age group.
     
  6. K-Dub
    Offline

    K-Dub Super Genius

    Posts:
    232
    Likes Received:
    0
    Link?

    I need a link!! I don't want to believe it either! Sti is your source a Mega agent?
     
  7. STIBROKER
    Offline

    STIBROKER God Moderator

    Posts:
    10,017
    Likes Received:
    33
    State:
    Texas
    Re: Link?

    there is no formal confirmation they are pulling out of any state.....just the rate increases ........but if they are now priced 20 to 30 % higher than the competition then the might as well pull......
     
  8. Crabcake Johnny
    Offline

    Crabcake Johnny Guru

    Posts:
    14,814
    Likes Received:
    9
    State:
    South Carolina
    Aetna's actually going for it. By the end of next year they'll be in 30 states. They've also proposed a bonus program that I've been told is a done deal: 20 apps per quarter is $100 per app bonus and 10 apps per quarter is $50 per app.

    Aetna also has enough money to buy and sell most of the other insurance companies five times over - market cap is 22 bill. Compare that to Assurant at 6 bill.

    Not that they'll be competitive in all the states - no insurance company is. But they have the money to hang in there until they establish a foot hold.

    I'd personally like to see a few changes:

    1) Fixed family rates reward large families yet punish small families. For example, a family in MD age 44 pays $512 on the PPO 30. You could be a family of 3 and that rate is horrible. Or you could be a family of 6 and it's the deal of the century.

    2) Aetna rates the entire policy even if only one person get rated. Take that family above; family of 4 for $512 a month. If just the husband gets a B rating the entire plan goes up 25%. Not true with Assurant who will only rate the husband.
     
  9. taterpeeler
    Offline

    taterpeeler Guru

    Posts:
    7,003
    Likes Received:
    14
    State:
    Texas
    John... Split the family up b4 issuse, submit onlne as one, get letter from client requesting split policies... do the same for rated conditions. This not only helps for the cost of the policy, but gives you more app count

    Just a thought, but I have been doing it like that for a year and had NO problems... the key is to get the letter to seperate B4 the policy is issued
     
  10. STIBROKER
    Offline

    STIBROKER God Moderator

    Posts:
    10,017
    Likes Received:
    33
    State:
    Texas
    I have seen them split a rated case at issue here in texas.....
     
Loading...

Share This Page