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

[nc health agent]

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!

 

[somarco]

IAC has their finger in a lot of different pies. Which product line? Individual major med, group medical, dental, TPA services?

 

[nc health agent]

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.

 

[somarco]

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

 

[Expat]

Most likely they are pushing World.

 

[somarco]

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.

 

[nc health agent]

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...

 

[Bob_The_Insurance_Guy]

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.



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.

 

[taterpeeler]

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

 

[The Rabbi]

Don't forget the 12% interest on advances.