It Looks Like Health Insurance, but It’s Not. ‘Just Trust God,’ Buyers Are Told.

[vic120]

Newby said:

To me the only thing that is a REAL health insurance plan is a major medical plan that is guaranteed renewable to age 65. Anything that only signs you up for 3-years is not anything I would ever consider unless I just needed something short-term between jobs like it's intended for.

I've seriously considered selling (and have been appointed to do so) STM and fixed indemnity, but am afraid of getting sued. I sleep very well at night, selling MA and MS.

My State (PA) DOI Commissioner doesn't like STM, and suspended 12 producer licenses a couple years back as the plans weren't explained well. People "thought" they had major medical. Not worth the risk, imo. I've had both before, but understood the risks, but if someone wants it, I'm happy to pass them along to someone else.

STM's are good for what they are, For what we used to sell them for before Obama Care

Specifically for a healthy person or family that Has just changed jobs or moved or for some other reason just needs a temporary plan with low premium high deductible in case of a major incident before other cov starts

 

[yorkriver1]

STM's at nat gen have served my clients well. Covered when they should, and not covered when they shouldn't.
Helpful comments about NatGen, I have been using them for STM, not too much, but healthy folk, looking for catastrophic.
My thoughts today, what might happen to the health sharing plans if we have massive numbers of people otherwise healthy coming down with Corona Virus. No reinsurance for those plans, as I understand it. The modern invention of such things as reinsurance was in response to the failures of the original forms of risk management that involved people sharing loss.