- 672
Bob, the per incident maximum is determined by the plan level you select. I'm on the Gold plan (with the Brother's Keeper option) so it is unlimited (no annual or lifetime maximum).
Medi -Share and Others Are Baffling
- Thread starter HealthGuy
- Start date
Bob, the per incident maximum is determined by the plan level you select. I'm on the Gold plan (with the Brother's Keeper option) so it is unlimited (no annual or lifetime maximum).
- 1,737
Right now, I have a prospect who can't afford $500/month for health insurance, looking to avoid the penalty by buing a Christian sharing plan. I am looking into the +/- of these plans. I am concerned about the financial risk to the member.
Insurance companies are under state mandated rules for cash reserves in ratio to their actuarial claims exposure. Then, if outlier events happen, they also have reinsurance to pay catastrophic level claims.
If someone gets a superbug infection that goes septic, which is happening in large, mostly unreported numbers these days, their many days in intensive care in balance between living and dying could run into multi 7 figure bills. I am aware of a specific example.
One way these plans would take care of that is they all have an upper limit, like major medical health plans used to do. Some, $250,000, some $1 million, as mentioned before.
Even when cherry picking for the healthy, in the long run, at least some Christian member cost sharing plans will have catastrophic claims that could wipe out their collected premiums.
I agree we are covering much more now with ACA that ever before without a more aggressive cost control program in place. It has been stated that drug prices have risen astronomically because there is unlimited coverage in all ACA plans. Older plans had, say, in one I know of, a $10,000 separate annual limit on drugs. Just one example.
It just seems unlikely, without some very strict underwriting, or even cancellations for claims history, that the ministry plans can all be viable long term.
Insurance companies are under state mandated rules for cash reserves in ratio to their actuarial claims exposure. Then, if outlier events happen, they also have reinsurance to pay catastrophic level claims.
If someone gets a superbug infection that goes septic, which is happening in large, mostly unreported numbers these days, their many days in intensive care in balance between living and dying could run into multi 7 figure bills. I am aware of a specific example.
One way these plans would take care of that is they all have an upper limit, like major medical health plans used to do. Some, $250,000, some $1 million, as mentioned before.
Even when cherry picking for the healthy, in the long run, at least some Christian member cost sharing plans will have catastrophic claims that could wipe out their collected premiums.
I agree we are covering much more now with ACA that ever before without a more aggressive cost control program in place. It has been stated that drug prices have risen astronomically because there is unlimited coverage in all ACA plans. Older plans had, say, in one I know of, a $10,000 separate annual limit on drugs. Just one example.
It just seems unlikely, without some very strict underwriting, or even cancellations for claims history, that the ministry plans can all be viable long term.
- 6,994
Obviously, the no guarantee at the top end is the greatest concern.
Are there super high deductible health insurance plans to cover catastrophic incidences?? Like $50,000-$250,000?
Are there super high deductible health insurance plans to cover catastrophic incidences?? Like $50,000-$250,000?
- 6,994
Man, I was hoping there was something I could get to cover super catastrophic...
You, and others.
Given the pricing (before it was outlawed) the $15,000 deductible (and sometimes the $10k) was the best buy.
Go lower and the price climbs. Go higher than $15k and you don't get much of a premium break for the additional risk.
If you go back about 40 yrs or so, Union Mutual had an individual plan with a $50k deductible then 100% to $1M or maybe it was $2.
Pretty sure Kemper had a high ded 100% plan about the same time as well.
The World plan was a decent seller. Assurant wasn't bad but they were never competitive in GA.
- 6,994
So what's the lowest premium high deductible plan in IN? Family of 3? Obviously no subsidies.
Ask the folks at hc.gov. I have no idea. Have been in a time warp back to 1968 and I am not licensed in IN. Most carriers have stopped paying commission on U65 health insurance so you may find it impossible to get information from an agent.
Welcome to our world bro.
And this is why I left the health insurance biz 2 yrs ago.
I happen to be a member of CHM. It works! However, I can REALLY say it is not for everyone.
