How is Assurant Handling Their Individual Medical?

[junkman]

I met a person covered under an Assurant individual medical plan. He has a ton of uncovered dental bills coming and wants to switch to an HSA for him and his wife so he can get the tax deduction for 2015.

I told him to wait until 2016 unless we can come up with a SEP for this year or write a group. Group is currently off the table because of the number of employees and current 1099 status.

He's going to call the carrier & find out what the transition plans are but I figured someone here would know.

 

[FLM2]

I met a person covered under an Assurant individual medical plan. He has a ton of uncovered dental bills coming and wants to switch to an HSA for him and his wife so he can get the tax deduction for 2015.

I told him to wait until 2016 unless we can come up with a SEP for this year or write a group. Group is currently off the table because of the number of employees and current 1099 status.

He's going to call the carrier & find out what the transition plans are but I figured someone here would know.

Assurant has no transition plans, they are leaving the IFP business and won't make any policy changes for the rest of the year.

 

[OregonDave]

My partners at AHCP bought a couple parts of Assurant in order to continue to offer the ancillary products and be the official re-enrollment center.

AHCP's onsite call center, Velapoint will likely assist in plan transitions for those whom request assistance from Assurant. Assurant will likely notify insured members or already has to either contact their agent or contact Velapoint. AHCP agents will probably be called upon to assist if VP has overflow.

Ancillary products can still be sold and at least through AHCP are paying 6 month advances again. Comp is still the same with no changes on the horizon.

As a VP founder, I have stupidly high contracts with them so if anyone wants aboard and wants to be taken to the top please let me know. AHCP has purchased at least 4 insurance companies in the past 6 months.

 

[Yagents]

At least the sales people found a new home (they always do):

Health Insurance Innovations adds Assurant Health alumni | LifeHealthPro

I find it funny that they are trying to buy their "agent" books of business, somehow thinking that the relationship transcends what's best for the client.

Same thing happened to me back in 2003. Upper mgmt fired the entire sales team, paid big money to boost sales, and hired high powered mutual fund wholesalers with existing big financial advisor books of business, to find out.......... even the best salespeople can't sell cancer (ie: a tech mutual fund in the Dot Com / tech crash of 2001)

I became self employed the next day, and never looked back.

 

[FLM2]

At least the sales people found a new home (they always do):

Health Insurance Innovations adds Assurant Health alumni | LifeHealthPro

I find it funny that they are trying to buy their "agent" books of business, somehow thinking that the relationship transcends what's best for the client.

Same thing happened to me back in 2003. Upper mgmt fired the entire sales team, paid big money to boost sales, and hired high powered mutual fund wholesalers with existing big financial advisor books of business, to find out.......... even the best salespeople can't sell cancer (ie: a tech mutual fund in the Dot Com / tech crash of 2001)

I became self employed the next day, and never looked back.

I love how AHCP is positioning itself to steal clients from Assurant's top producers (which includes both of us)-if they think it will be easy they are sadly mistaken-our clients enrolled in those plans because of us, not the insurance company, and aren't going to be swayed by some idiots in a call center.

 

[OregonDave]

I think it's more for consumers who have no agent. Velapoint also operates almost inbound only during OEP. I doubt they'll actually make outbound contact beyond a carrier letter instructing consumers to call their agent or some tollfree number.

Some VP agents have been known to sell over 100 major med and ancillary applications in a week, 30 a day, etc. Their sales system, which is now AHCP's, is phenomenal, and consistently a one call close. It' why they are the highest volume health agency nationwide and owned by NGIC and AHCP in some complicated relationship profitable enough that they seem to be buying an insurance company every quarter.

It is... What it is. They're completely unstoppable, and let's face it, the present healthcare system alludes itself to consolidation.

If you can't beat 'em, join em.

The choices are simple if you do though: If you go direct Rob Liano does the meetings and training, but if you go with me, the first and best National Sales Manager does the training, the one who brought Velapoint's system to AHCP so successfully in the first place.

That man, my partner, Martin Lewin, shared a cubicle wall at Velapoint with almost every agent who became a $2,000,000+ annual producer there, including myself.

Dave Taxer