Short term medical

[sbg_ben]

I have no problem selling any other type of health insurance but I struggle with understanding this. The main parts I have trouble understand g are the length of the policy (and how many times you can rewrite it), prescription coverage, and pre existing conditions.

For some reason these policies go over my head and I’m wondering if any one knows any good resources to help me understand them.

Thanks!

 

[somarco]

My response is simple.

Avoid them.

Potential snake pit.

If you have enough other tools in your kit you don't need the product.

 

[yankee466]

I have no problem selling any other type of health insurance but I struggle with understanding this. The main parts I have trouble understand g are the length of the policy (and how many times you can rewrite it), prescription coverage, and pre existing conditions.

For some reason these policies go over my head and I’m wondering if any one knows any good resources to help me understand them.

Thanks!

Its all pretty simply actually.....in general, they don't cover pre-ex, wellness, or Rx, allbeit a few exceptions with Rx and wellness on some plans. The max duration per law is three months, and the ones that permit renewals....some only once, and some up to three renewals....will NOT consider any new pre-ex that pop up once you are covered, but the deductible starts over for each three month period., and the start date of the renewal is retroactive to the start date of the first sign up. UHC, Pivot, NGIS, IHC all have subtle differences in their plans and options. A new STM plan is rumored to hit the market shortly to make up for the loss of Peterson.

If you are not a good Christian, can't form a small group, can not get ACA until open enrollment, don't want to buy limited benefit plans, or not about to turn 65......then likely it is this or nothing. Suggest you only sell it to healthy individuals who are prepared to prove good health if something goes bump in the night. Commissions are great.....so you have to decide. They are very affordable compared to ACA full priced plans. HCC used to have the best value, then Peterson.......so, depending on the person's age, you should consider UHC (only renews once) or Pivot (renews three times)

Good luck...

 

[sbg_ben]

Its all pretty simply actually.....in general, they don't cover pre-ex, wellness, or Rx, allbeit a few exceptions with Rx and wellness on some plans. The max duration per law is three months, and the ones that permit renewals....some only once, and some up to three renewals....will NOT consider any new pre-ex that pop up once you are covered, but the deductible starts over for each three month period., and the start date of the renewal is retroactive to the start date of the first sign up. UHC, Pivot, NGIS, IHC all have subtle differences in their plans and options. A new STM plan is rumored to hit the market shortly to make up for the loss of Peterson.

If you are not a good Christian, can't form a small group, can not get ACA until open enrollment, don't want to buy limited benefit plans, or not about to turn 65......then likely it is this or nothing. Suggest you only sell it to healthy individuals who are prepared to prove good health if something goes bump in the night. Commissions are great.....so you have to decide. They are very affordable compared to ACA full priced plans. HCC used to have the best value, then Peterson.......so, depending on the person's age, you should consider UHC (only renews once) or Pivot (renews three times)

Good luck...

Thank you that was helpful. Best explanation I’ve heard actually.

In general how far back does a pre existing condition go? Or is it just any condition you were ever treated for in the past? I’ve only been in insurance for a little over a year so I haven’t dealt much with pre ex.

I’m not going to go after these plans aggressively but like you said sometimes it is the only option and I like to help my people.

Can pivot renew 3x in every state or does it vary?

 

[somarco]

how far back does a pre existing condition go

Varies by state and carrier. Many use a 5 yr lookback. Major claims (sickness, not accident) will almost always be underwritten at point of claim. Anything that even smells of pre-ex will almost certainly result in claim being denied.

Need I go on?

I’ve only been in insurance for a little over a year so I haven’t dealt much with pre ex.

Obamacare compliant plans can't ask about health. They really aren't insurance since there is no risk assessment.

Yankee can address your Pivot question. Never heard of them.

 

[yankee466]

Thank you that was helpful. Best explanation I’ve heard actually.

In general how far back does a pre existing condition go? Or is it just any condition you were ever treated for in the past? I’ve only been in insurance for a little over a year so I haven’t dealt much with pre ex.

I’m not going to go after these plans aggressively but like you said sometimes it is the only option and I like to help my people.

Can pivot renew 3x in every state or does it vary?

I can not speak for every state....as there are always state variations with some products. I am in Georgia. Pivot, aka Companion Life, has a 60 month look back on pre-ex....and you have to first answer NO to a series of medical questions to be approved for coverage.

Pre-existing Conditions
a. Charges resulting directly or indirectly from a condition
for which a Covered Person received medical treatment,
diagnosis, care or advice within the sixty-month period
immediately preceding such person’s Effective Date are
excluded for the first 12 months of coverage hereunder.
b. Pre-existing conditions includes conditions that produced
any symptoms which would have caused a reasonable
person to seek diagnosis, care or treatment within the sixtymonth
period immediately prior to the coverage effective
date.

There is also IHC and NGIS offering short term plan....but they are a tad pricey IMHO.