Land Of Lincoln

[steven2244]

My problem with them now is cancelling people - albeit people that 'thought' they were on auto pay

Nightmare - one is having chemo treatment payments reversed

I hate this biz!

 

[SamIam]

My problem with them now is cancelling people - albeit people that 'thought' they were on auto pay

Nightmare - one is having chemo treatment payments reversed

I hate this biz!

I told my clients they have to keep a eye on that. They aren't pulling like they should.

 

[AllenChicago]

I learned after my 2013 to 2014 transition disaster to keep clients away from Auto-Pay. Thankfully, most (+90%) of them listened to me.

With life insurance, auto-pay is a blessing. With ObamaScrew plans, it's a bomb that could go off at any moment, and severely hurt the client-customer, as you pointed out Steven.

 

[AllenChicago]

July 5, 2016

The Illinois Director of Insurance has ordered Land of Lincoln Health NOT to pay into the ACA insurer risk-pool this year. If it did, LOLH would be out of business.

Excerpt:

"The Illinois Department of Insurance has stepped in to protect the policyholders of troubled Land of Lincoln Health, a startup insurer created under the Affordable Care Act.

The agency has ordered the Chicago-based nonprofit insurer to withhold paying $31.8 million it owes under a federally mandated program for adjusting financial risk under the health care law.

Acting agency Director Anne Melissa Dowling said in a letter dated Thursday to federal authorities that she issued the order to "preserve the solvency" and "to prevent an immediate liquidation" of Land of Lincoln. In addition, the company stopped renewing group policies and can't write any new insurance business without Dowling's prior approval."

Source: Illinois regulators move to protect Land of Lincoln policyholders - Chicago Tribune

IMO, this sets a bad precedent and example. What if every health insurer in financial distress (which is most of them) decided to skip paying into the risk-adjustment pool this year.
-ac

 

[FRJ]

July 5, 2016

The Illinois Director of Insurance has ordered Land of Lincoln Health NOT to pay into the ACA insurer risk-pool this year. If it did, LOLH would be out of business.

Excerpt:

"The Illinois Department of Insurance has stepped in to protect the policyholders of troubled Land of Lincoln Health, a startup insurer created under the Affordable Care Act.

The agency has ordered the Chicago-based nonprofit insurer to withhold paying $31.8 million it owes under a federally mandated program for adjusting financial risk under the health care law.

Acting agency Director Anne Melissa Dowling said in a letter dated Thursday to federal authorities that she issued the order to "preserve the solvency" and "to prevent an immediate liquidation" of Land of Lincoln. In addition, the company stopped renewing group policies and can't write any new insurance business without Dowling's prior approval."

Source: Illinois regulators move to protect Land of Lincoln policyholders - Chicago Tribune

IMO, this sets a bad precedent and example. What if every health insurer in financial distress (which is most of them) decided to skip paying into the risk-adjustment pool this year.
-ac

I don't know - the feds reneged on paying out as intended so it seems fair to me. I hope they make it, they've been good to work with.

 

[AllenChicago]

I don't know - the feds reneged on paying out as intended so it seems fair to me. I hope they make it, they've been good to work with.

you got that right. Land of Lincoln Health has nothing to lose at this point by fighting fire with fire.

 

[AllenChicago]

I don't know - the feds reneged on paying out as intended so it seems fair to me. I hope they make it, they've been good to work with.

July 12, 2016

BAD NEWS Illinois Agents... The Feds are not allowing Land of Lincoln Health to delay paying the $31 million into the 2016 risk-adjustment pool. And, the Feds are not going to pay LOLH the $73 million that was initially promised, from the 2015 risk-adjustment fund.

This perfect storm of bad luck has caused the Illinois Dept of Insurance to take measures that will shut-down Land of Lincoln Health over the next few months.

Full Story: Illinois moves to shut down failing health insurance co-op | Chicago Sun-Times

Moving our Land of Lincoln Health clients to $0 commission companies that have smaller networks, later this Summer, will not be fun!

 

[steven2244]

Just carry on

I put 200 in LLH

If I do a good job, something good will come from it

In business we have good years and bad

The need for health insurance experts like us ain't goin' nowhere

 

[AllenChicago]

Just carry on

I put 200 in LLH

If I do a good job, something good will come from it

In business we have good years and bad

The need for health insurance experts like us ain't goin' nowhere

Where are most of your LOLH clients located? If in COOK county, you can place them with Harken and they might actually thank you for it. Plus, I believe Harken is still paying us for our efforts.

 

[SamIam]

Mine are all in Du page, Will Kane which means no Harkin.