Starmark-assurant-cigna

[leevena]

So far what I have seen with Assurant's self funded plans they kick the pants off of everything else on strait premium. Am I missing something on the cost analysis?

Difficult for me to answer for you. The key to these types of plans is the net cost of the plan, not the billed costs. Assurant may be the best cost alternative, I am not debating that (we market them too).

----------

Difficult for me to answer for you. The key to these types of plans is the net cost of the plan, not the billed costs. Assurant may be the best cost alternative, I am not debating that (we market them too).

Big J. Yesterday when I posted this I was somewhat distracted. Here is an example of what I was trying to convey to you. Market A appears to be the lower cost, but holds back some of the refund (50%), while Market B is appears to be more expensive but refunds all of the surplus. Also, look at the SL Prem, this is what I mean when I refer to some markets having a higher risk load. Market A is charging $400 while B is lower at $200. Does this make sense? Sorry tried to line up the columns and it won't go right.


Market A Market B

Single Single Admin $50.00 $50.00
SL Prem $400.00 $200.00
Agg $200.00 $450.00
Mo Cost $650.00 $700.00

claim cost 100% $200.00 $450.00

Claim cost 85% $170.00 $382.50
Claim surplus $30.00 $67.50
Avail to ER (50%) $15.00 $67.50
Net Cost $635.00 $632.50

 

[thebig_j]

I'm not 100% following you. Are you using the premium cost and the "refund" cost to see which is a better value?

I am looking at these assurant self funded plan beating the pants off of fully insured on strait premium. The extra amount left in the claims fund at the end of the year is icing on the cake.

If i'm still missing the point I would love clarification.

I also did learn that CIGNA wont quote a self funded group with under 25 lives. Assurant Will.

 

[NYinsurance417]

I have two groups sending in medical questionnaires next week. Excited to see the rates and underwriting process. I will keep you posted. From my understanding I can send them to assurant for underwriting as well.

 

[thebig_j]

Would it be more accurate to call the Assurant plans "level funded" as opposed to self funded. I have a GA quoting me a "level funded" product with KHP and she says it works exactly the same as the Assurant self funded plans? Anyone agree with this?

 

[Sam]

Yes, they are level funded, which makes it much simpler to explain to clients.

 

[Guest]

Everyone- I am going to sign up with both carriers next week. My main question is, when you are first trying to get the appointment, what do you say so the owner will sit down and listen to the presentation? Thanks, Bear

 

[jzp0010]

Everyone- I am going to sign up with both carriers next week. My main question is, when you are first trying to get the appointment, what do you say so the owner will sit down and listen to the presentation? Thanks, Bear

Simply tell them self-funded plans are governed by ERISA and are not impacted by Obama's mandates.. seems to do the trick for me.

 

[Pompilija]

Can someone help me with this Thread, I don't understand what is exactly Starmark-assurant-cigna, I am not from USA, but I want to understand this program?

 

[tonyisme]

I'm looking for an agent experienced with groups under 50 in the Atlanta GA area. I have a prospect for domestic group there. We are agents and write to me if you are in Atlanta area and have hc reform experience.
Write me [email protected]