Insurers Administrative Corporation...anyone used or dealt with???

Jul 22, 2008

  1. nc health agent
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    Guys, I really would like some info. on this company. Has anyone worked with them/ wrote business using their products? Their rates are great in my state but I have never heard of them and cannot find much on the web. so I'm asking for a bone!;)
     
  2. somarco
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    somarco GA Medicare Expert

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    IAC has their finger in a lot of different pies. Which product line? Individual major med, group medical, dental, TPA services?
     
    somarco, Jul 22, 2008
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  3. nc health agent
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    At this time, just looking at their individual major medical lines....really like the daily plan...caps daily max out of pocket at $500, unlimited days, annual max at $4000....and it has co-pays.

    30 year old male $142/month

    Not bad.:yes:
     
  4. somarco
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    somarco GA Medicare Expert

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    Who is the carrier?

    Do you have a link?

    What I have seen from them in the past were gimmick plans from no-name carriers.

    FWIW their web site doesn't indicate they have an individual product available in NC
     
    Last edited: Jul 22, 2008
    somarco, Jul 22, 2008
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  5. Expat
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    Most likely they are pushing World.
     
    Expat, Jul 22, 2008
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  6. somarco
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    somarco GA Medicare Expert

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    They use Std Security, Fidelity Security and Madison National. The Madison plan was a "360" or something like that. A hocus-pocus plan with a lot of holes (as I recall) filled in by critical ilness & accident benefits.
     
    somarco, Jul 22, 2008
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  7. nc health agent
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    I have actually moved back to WV to be closer to family...found the IAC on a Norvax quote engine at hsafinder.com....

    They also listed World so I dont believe its the same...
     
  8. Bob_The_Insurance_Guy
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    Bob_The_Insurance_Guy Guru

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    Here, in Georgia, they only have their group plans approved. It will be next year before Oxendine approves the Daily Plan for us.

    I have one client with them. Getting claims paid is horrible, and I am trying to get my client to agree to move. Here's the catch 22 - she tells me that my service is excellent, and for that, she will put up with the slow claims payment.

    :GEEK:

    Totally confused!

    She isn't shopping around. In fact, they are adding another employee next month on the plan!

    I keep telling her that I am an independent, and can find another carrier, but she doesn't want to move.

    Their online portal for the employees is excellent, though, and I think that is why she is staying. Go figure.
     
  9. taterpeeler
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    taterpeeler Guru

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    I wrote Fidelity Security with IAC... I only had a few problems with them... overall, they are fine.... had some 50k claims paid... but also had 2 policies recinded or re underwritten after a claim based on info not released at time of application but that was based on about 500,000 in av.... I wrote the co-pay plan. Would I write them again? yes and no, dont think they are any better than anyone else here in Texas at this point. I would rather write the name brand companies, but if their rates were lower yes.... decent product line for co-pays
     
  10. The Rabbi
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    Don't forget the 12% interest on advances.
     
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