Short Term Medical-Risk Vs Reward

[AllenChicago]

Well, it makes a lot more sense when we know what state you're in.

Guess you just have to cross your fingers and hope the Fed's don't follow NY's example.

Prez Obama's home state of Illinois has forbid the adjustment of policy renewals. Also, I think Oregon as well.
-ac

 

[Yagents]

I agree...but STM isn't included in the "Sell with Certainty" offer, correct?

Rate is locked for 1 year, so is the plan. So, no on plan extension 12/14'

 

[AllenChicago]

I think there will be a point in time after August 1, 2013 when some companies will announce that they're no longer accepting major medical applications for 2013 plans.

I'm getting this impression because Blue Cross of Illinois is suddenly discouraging applicants from obtaining Major Medical at their Blue Cross Blue Shield of Illinois - Health Insurance Illinois - BCBSIL website. I had a prospect call me yesterday because every time he ran a quote, the website told him that all he qualified for was a Short Term policy. It turned out that the only way he could get a major medical quote and apply was to request an effective date that fell between August 10th and August 27th.

New Blue Cross rules say that an applicant must request an effective date that is more than 13 days into the future, but less than 31 days into the future. The website gives no indication of this, and brokers who don't read their newsletter wouldn't know it either.

Since BCBS-IL doesn't have a strategy to extend NON-GF policies out to December 2014, I'm getting the feeling that they will simply stop accepting applications all-together for 2013 MajMed plans before the Exchanges go live. Just sharing an experience and a hunch.
-ac

 

[FLM2]

I didn't know, or haven't seen this announcement from Humana. Can you forward to me at [email protected] ? Or point me elsewhere?
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Humana letter regarding this went out to clients within the past few days-they can either renew their policy on December 1st or switch to an ACA compliant plan effective Jan 1st.

Webinar tomorrow will cover it in detail.

I had heard exactly this from a reliable source last month, don't know why they waited so long to announce it.

 

[TXINSURANCE]

Illinois does not permit renewal date manipulation. See DOI for bulletin.