Selling Assurant Health?
- Thread starter japetta
- Start date
- 10,276
I can only speak for about three states, but typically, their ST rates are good, HSA rates are decent and well...that's about it.
- 3,863
I thought they were stopping ST plans?
- 10,276
Maybe they are. So far, they are still showing up in quotes.
Michele120
Expert
- 20
Be careful shopping commission rates right now. I am an independent agent with contracts with 5 different health insurance companies. That includes Assurant. I have received warning letters from all 5 of them that commissions will be decreased in January. They are waiting until after tomorrow's NAIC meeting before they determine how much they will cut commissions in January.
^This, except nobody even comes close to Anthem's STM rates in Virginia. Their OneDeductible HSA plan is occasionally competitive in more metropolitan areas, but very highly priced in rural areas.
- 323
I have heard nothing about Assurant ending STM. A few of their major med plans are going (or gone), but STM is going to be one place they can probably still make money.
- 901
Assurant is removing its 12 month coverage option. Can only buy up to 6 months at a time ST plans. Otherwise, business as usual - and they anticipate ST growing by leaps and bounds.
Of course, when you have those 5 year look back reasonably prudent person pre-x definitions, it can be a highly profitable block of business.
My suspicion is that one day more and more states will disallow that broad of a pre-x definition even on ST plans. One would hope so, actually.
And in fact, if Assurant and other companies were smart, they would start writing more and more "higher quality" ST plans with more regular pre-x definitions with the understanding that their risk is limited by the shelf-life of the policy.
Of course, when you have those 5 year look back reasonably prudent person pre-x definitions, it can be a highly profitable block of business.
My suspicion is that one day more and more states will disallow that broad of a pre-x definition even on ST plans. One would hope so, actually.
And in fact, if Assurant and other companies were smart, they would start writing more and more "higher quality" ST plans with more regular pre-x definitions with the understanding that their risk is limited by the shelf-life of the policy.
At some point in the future, or what? Still giving me the ability to quote 12 months online. Doing one for a guy today, in fact.
- 3,863
99% of short term plans are not subject to the MLR. Most are actuarially priced for a 50% or less claims loss ratio.
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