Physicians Mutual Innovative F and Anniversary Rule?
- Thread starter TDS551
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To my understanding, with this "Innovative" thing, they actually put you in a HDF for 3 years and then move it over to Plan F. They are not changing the plans at all, so it's a standard HDF or standard Plan F, so the rules would apply as if nothing was different than any other company.
I've ran into it twice and they were issued a hdF so if you are using the anniversary rule when they are on hdF they can change to hdF, not a standard plan F since it will not be issued until the end of the "trick".
It is ridiculously priced for a hdF and still considerably over the market for a plan F. Not a good deal now and not a good deal when they issue the new plan.
It is ridiculously priced for a hdF and still considerably over the market for a plan F. Not a good deal now and not a good deal when they issue the new plan.
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John Toncray
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The Plan F Innovative is golden for long term price stability. Sure as long as your client is healthy you can move them around the playing board but what happens when they come down with a serious illness? Hope you put them in a low increase plan and company. With the PM Innovative plan sold as an Issued Age plan I have seen very low increases over the long term compared to say AETNA, MoO, BC/BS ect. For example...A male client who signed on at age 65 who is now 71 has experienced only a $14 increase. How many of you can say that?
- 29,487
Are you with PMIC?
Issue age doesn't mean squat. After a couple of years it'll catch attained age.
John Toncray
New Member
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Are you with PMIC?
Issue age doesn't mean squat. After a couple of years it'll catch attained age.
Yes I am with PMIC. I also have a few others that I work with as well.
In my experience, Attained Age is the run away train of premiums. I have an 80 yr client who pays $186 on Issued Age with PMIC. I have a 80 yr client on BC/BS who is paying $283, 4 years before that he was on MoO paying $298. Tell me again how it doesn't mean squat. LoL I know you have a great time shifting your clients around until underwriting does them in but I just can't imagine doing that to my clients.
- 29,487
I was with PMIC back around the turn of the century, then they stopped being competitive. Comparing against BCBS and MOFO...that's funny!
I remember when UA was pushing the fact that they were issue age back in the 90's. Now, they're one of the highest...higher than other companies attained age.
What Plan are you talking about? F? Innovative F?
John Toncray
New Member
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I was with PMIC back around the turn of the century, then they stopped being competitive. Comparing against BCBS and MOFO...that's funny!
I remember when UA was pushing the fact that they were issue age back in the 90's. Now, they're one of the highest...higher than other companies attained age.
What Plan are you talking about? F? Innovative F?
Compare it to any company out there for long term stability and it is hard to beat. Upfront cost may be more expensive but you know as well as I do that for most of our clients, they have to think long term. Underwriting is the beast that eats their pocketbooks alive in the long term.
What companies are you happy with for long term stability?
I am talking about the Innovative F, Standard F, HDF and G.
- 29,487
I'm not happy with anybody's rates over time. They ALL go up.
It's hard to verify. I notice that PMIC's not on CSG anymore.
When they were, you had to scroll down to the bottom to find them...one of the most expensive.
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