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If a company goes into receivership, does not the client have 63 days of GI options?
No. Shenandoah clients did not have an opportunity to move on a GI basis. Still don't.
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If a company goes into receivership, does not the client have 63 days of GI options?
What, you mean you are NOT drinking...? I thought for sure you were...
After being in the bar business for many years, I am an expert at spotting those with impaired thoughts from the overindulgence of alcohol... and thought for sure you fit that bill... (not pun intended, Bill).
I'll just put all of my clients with mutual of Omaha because they are A rated and never have increases...
I'll take that as a compliment. My guess would be that anyone that had an iq higher than a snail's would seem impaired to you.
I have to disagree with Frank a bit on this one. I had a few people with Shenandoah Life med sups when they hit the wall.
They didn't pull the product. They just had huge rate increases.
I only had 3 of them and 2 were healthy enough to move elsewhere. The other stayed an extra year and then went with an MAPD.
Shenandoah was A rated but failed. It can happen to ANY company. But if you accept low rated or unrated companies it is even more likely.
I guess I don't understand the logic here...
An A rated company went broke and was taken over by the state so that the policy holders saw huge rate increases. And this is the argument for selling policies from only A rated companies.
Mutual of Omaha decided to abandon the major med business after being the only game in town (other than BX) for many years and when they did they left policyholders in a lurch.
Ratings mean nothing. Many well known gap carriers are B rated or unrated. In GA the following gap carriers are non-rated.
Blue Cross
Heartland
Assured
Family
GPM
Medico
Secure Horizons
Consumers Life
Continental
USAA
Yet there are a lot of people that will buy from at least some of these carriers without giving it a second thought.