Mega Strikes Again NASE/UGA/HEALTHMARKETS

[Crabcake Johnny]

Re: MEGA Life & Health bills that were not coverd

UICI is a stock company and I hope it goes the way of Enron--with the top dogs behind bars and the company out of business.

There is no more UICI - they got bought out last year by a company led by Blackstone. They are now privately held. They formally changed their name to Healthmarkets:

http://healthmarkets.com

 

[Destry]

Actually, Mega/MW do have a place in Mass. I used to be with them but now I'm in commercial lines. The alternative for that lady in the article would have been 700-1000 a month for her and her husband. Most people can't afford the HMO/PPO products in Mass so they turn to those companies. However, they need to proactive in shifting carriers as their needs change.

I don't write health in Mass unless the group is 50 or above. Under that and the rates are just fucking stupid. I bump into Cobras that are 800-900 for 62 yr old women and 1500-2K for families. They aren't left with options at those prices.

Now I disagree with marketing those products in a Non-GI state. But Mass is GI. Why pay 2-3 times the Mega rate when can take a high deductible plan and switch as your needs change.

 

[K-Dub]

You know....

In that scenario I'd rather self insure myself! At least I'd know going in to the hospital I'd get better service saying I'm not insured as opposed to flashing a Mega/Midwest ID card!!

 

[somarco]

Why pay 2-3 times the Mega rate when can take a high deductible plan and switch as your needs change.

Gee, I don't know . . . maybe so their claim would be paid?

I don't write business in MA, but I seem to recall seeing something recently that the DOI "relaxed" their rules a bit to allow HDHP's. Carriers do not have to offer first dollar benefits and copays so coverage can be more affordable.

Are you saying you can't get a plan with a $5000 - $10,000 deductible for about the same price as the stuff sold by Mega that only pays 20% of a major claim?

 

[STIBROKER]

Are you saying you can't get a plan with a $5000 - $10,000 deductible for about the same price as the stuff sold by Mega that only pays 20% of a major claim?

 

[Destry]

No such thing in Mass as a 10K deductible. They tend to range from 1-5K and those plans don't cover RX at all. They tend to be 800-1000 for that type of deductible for non-group 35 year old family. Mega/MW for a 5K deductible plan for that demographic is 400-550. That's the Signature plan, not the scheduled plan. If you want the low deductible plans with RX coverage a 35 year old family would be 1400-2000.

The strategy here is to have high deductible limited CAT plan and play the odds that you don't get burned. Then as the needs change they sign up with the high end plans.

 

[midwestbroker]

Sometimes we all need some tough love.

I know that it has got my head out of my rear a few times!

 

[somarco]

I find it interesting that BankNorth in MA offers HSA's when the HDHP is not available (at least according to Destry).

http://www.tdbanknorth.com/investorrelations/newsreleasesId.aspx?ReleaseID=645042

If the HDHP/HSA is not available for individuals in MA, then it looks like Teddy & Swift Boat Johnny have managed to convince the residents that what is good for the nation does not apply to MA residents.

Didn't MA burn witches too?

 

[Crabcake Johnny]

http://www.mass.gov/?pageID=ocaterm..._doi_Consumer_css_health_plans06_12&csid=Eoca


I think you have a lot of research to do. That 35 year old male can get an outstanding Blue Cross plan for under $300 a month and although prescriptions aren't covered, Mega only covers drugs for a very low yearly limit anyway. Aside from the drugs, the Blue Cross plans I'm looking at not only destroy the Mega plan benefits but are also cheaper.

I think you need to actually run rates for all the carrriers listed and view their benefits - which you obviously have not done.

 

[Mass-guy]

Your times on the site are screwed up. It's 7:50 in Boston right now.