(Newbie post, I searched posts on the health insurance board here and couldn't find information about the association part of these plans. Forgive me if it's been answered before)
I am from the life and annuity side of the business but wanted to write some individual health (good timing- I know) so I looked for some BGA's for health insurance. I ran into people from US Health & Health Markets and wonder why they have the client join some association that gives "group" pricing to the individual market. The reps told me how these associations are non-profits and endorse the carrier.
With the association membership, all I can see are some basic discounts, legal plans, roadside assistance and an injury rider 5K lump sum that will help if you have a high deductible for $20-40 extra a month. Also in the policy there is a separate $40 a month option that gets you a critical illness rider that can help pay for that high deductible.
The association membership doesnt pay a commission to the agent and the membership is a mandatory part of the policy.
The health product for US Health looks competitive-yet not any cheaper than the other players despite the "group" association pricing. (I didn't dig that deep into Health Markets product)
But it looks like I can go with Blue X, United, Aetna and the usual suspects here in FL. Then if you add a small critical illness and accident injury policy (gap plan?) for less that the combined 60-80 a month membership and rider costs of those groups and get paid an additional commission also? Maybe throw a prepaid legal plan for 15 a month and a AAA membership?
Also it doesn't seem like the association "group" pricing is cheaper than the usual individual plans available
Again I'm new to health insurance but have been in life and annuity for years. I don't want to disparage these companies just understand how they work vs the usual carriers and whether I need to add them to my portfolio or just know the competition.
I am from the life and annuity side of the business but wanted to write some individual health (good timing- I know) so I looked for some BGA's for health insurance. I ran into people from US Health & Health Markets and wonder why they have the client join some association that gives "group" pricing to the individual market. The reps told me how these associations are non-profits and endorse the carrier.
With the association membership, all I can see are some basic discounts, legal plans, roadside assistance and an injury rider 5K lump sum that will help if you have a high deductible for $20-40 extra a month. Also in the policy there is a separate $40 a month option that gets you a critical illness rider that can help pay for that high deductible.
The association membership doesnt pay a commission to the agent and the membership is a mandatory part of the policy.
The health product for US Health looks competitive-yet not any cheaper than the other players despite the "group" association pricing. (I didn't dig that deep into Health Markets product)
But it looks like I can go with Blue X, United, Aetna and the usual suspects here in FL. Then if you add a small critical illness and accident injury policy (gap plan?) for less that the combined 60-80 a month membership and rider costs of those groups and get paid an additional commission also? Maybe throw a prepaid legal plan for 15 a month and a AAA membership?
Also it doesn't seem like the association "group" pricing is cheaper than the usual individual plans available
Again I'm new to health insurance but have been in life and annuity for years. I don't want to disparage these companies just understand how they work vs the usual carriers and whether I need to add them to my portfolio or just know the competition.