Limited Health Plans

[tins]

It's amazing....

Hi Arn. I miss you, old feller.

 

[lifeandhealth]

HHS has plans to kill standalone LB plans. (see article posted on thread)
They must be bought and sold to people who have major medical (as a supplement).
If you only own an LB plan, you will also have to pay the penalty.

Is there an update regarding HHS to do away with lim med plans?

 

[Yagents]

Still in comment period...................................90 days I think

 

[Happy Texan]

Our patented paid-up benefits rider is a limited benefits plan.
It is the primary payer for self-funded employers with 200 or more employees.
By sharing the risk with the employer below the stop-loss specific attachment point, our unique plan saves premiums over the short term and 60-80% of employer premiums over 3 to 5 years.
Those agents with self-funded employers of 200 or more employees are welcome to contact me at [email protected]
Don Levit,CLU,ChFC
Principal of National Prosperity Life and Health

 

[taterpeeler]

I think we need new moderaters.....why are u here huckester

 

[Gabe9175]

I would never sell one of these plans alone, only with a high deductible Major Med. And even then you need to find a reputable company. Also, look at the schedule of benefits or what they actually pay per procedure. Many of them go by Medicare reimbursed amounts, others are just ridiculously low. Something like heart surgery for example may only pay a max of $3,000. This is the hidden fine print of these plans.

Most of these types of policies are not all that good. The only Limited Benefit policy I would ever write would be the Health Access with Assurant.

 

[Yagents]

No MEC..........No fixed indemnity

http://m.lifehealthpro.com/2014/05/...utm_campaign=LifeHealthPro_eNLs&_LID=63272263

 

[Happy Texan]

I cannot understand why the ACA has picked on fixed indemnity plans as a no-no.
The comments in the regulation specifically stated some people can afford only fixed indemnity plans, and the coverage is better than nothing.
This is even putting in bold-faced type on the front page that the policy does not satisfy minimum essential coverage for the ACA, so that consumers will not be "mislead."
How do cancer plans and critical illness plans escape the vehemence of the ACA?
Don Levit

 

[Norwayguy]

I cannot understand why the ACA has picked on fixed indemnity plans as a no-no.
The comments in the regulation specifically stated some people can afford only fixed indemnity plans, and the coverage is better than nothing.
This is even putting in bold-faced type on the front page that the policy does not satisfy minimum essential coverage for the ACA, so that consumers will not be "mislead."
How do cancer plans and critical illness plans escape the vehemence of the ACA?
Don Levit

Please do not ask that question next thing you know cancer and critical illness policies might have to meet minimum benefit standards, have annual enrollment periods, cost more than they do now for less coverage and become a pain to sell.

 

[AllenChicago]

No MEC..........No fixed indemnity

HHS sets complicated fixed indemnity rules | LifeHealthPro

November 11, 2014

Today, United American announced the immediate suspension of their Limited Benefit plan(s) sales.

Copy/Paste of Today's e-mail:
To: All United American General Agents
From: Charles Mankamyer, Senior Vice President, General Agents
Re: United American Suspending Sales of Indemnity

Plans HIXC, HMXC, and SE2

Effective Nov. 10, 2014, United American will suspend sales of Indemnity Plans HIXC, HMXC, and SE2. No applications may be taken after Nov. 10, 2014. Coverage must be effective no later than Dec. 1, 2014.

Updated commission schedules to follow.

Please contact Agency Service at 1-800-925-7355 or email [email protected] with questions.


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