Wow. Learn something new everyday in this bizHRA Reimbursement. It can only be tax free off exchange. MP doesn't know the rules of ICHRA, they are only determining if the applicant qualifies for a plan/subsidy.
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Wow. Learn something new everyday in this bizHRA Reimbursement. It can only be tax free off exchange. MP doesn't know the rules of ICHRA, they are only determining if the applicant qualifies for a plan/subsidy.
Your first paragraph is incorrect. I'm not sure you're following what we're talking about. I think you are confusing "off exchange" with Non ACA plansThe biggest difference between on and off exchange plans is that off exchange are medically underwritten meaning the applicant will have to get approved based on their health and having no pre-existing conditions. Whereas, marketplace will accept any person no matter the health issues they have.
In my 18 years of working exclusively with off exchange health plans only until my retirement 2 years ago, I can tell you that 80% of agents in this space have no clue that off exchange is even an option.
The primary go to carrier who offers the best plan in off exchange is United Healthcare through US Health Advisors. They offer United Healthcare Open Choice PPO. The problem here is that this organization requires you to be captive meaning you're not able to sell for any other carrier or company of any kind. They also require you to be licensed in all 32 states they operate in. Contrary to popular belief among agents who aren't affiliated with them, this product is a full on nationwide PPO that covers everything you would expect the plan to cover but the strict underwriting guidelines will eliminate a lot of the applicants you speak with. Also, it's important to note that this plan specifically limits what it will pay towards maternity so it isn't appropriate for those who are pregnant. Also, this particular organization pays extremely well. In fact, it's the highest commission of any organization out there with an 9 month advance and they pay very large quarterly bonuses as well. Before I retired I was making well over 600K per year and I had zero agents working under me. I also had an 89% persistency rating with a lot of very happy clients. I continue to be paid out on my book in retirement and 2 years later it still pays a strong 6 figure residual.
Because of laws Joe Biden passed that went into effect last September, there aren't very many other legitimate options that are actually full coverage meaning they cover wellness, prescriptions, surgeries, etc. Prior to that law he passed, there used to be several other options that lasted either 2 years or 3 years depending on the state whereas United's plan that I mentioned earlier runs in perpetuity for as long as the insured wants to keep it.
There are a handful of crappy plans that will pay to license the PHCS PPO and the Aetna and Cigna PPO but the pay is very low and the quality of these products is even worse. There are also MEC plans available but they cover bare minimum essentials only and don't pay much commission.
Hope this helps.
Wouldn't those two things be synonymous by definition? Non ACA implies off exchange.Your first paragraph is incorrect. I'm not sure you're following what we're talking about. I think you are confusing "off exchange" with Non ACA plans
ACA is a qualifier for health plans under the ACA. On or off exchange plans are all ACA qualified plans. Most group health plans are qualified ACA plans.Wouldn't those two things be synonymous by definition? Non ACA implies off exchange.