The Death of the Mini-Med.

[taterpeeler]

Seems Universal theme parks and Darden Foods(we knew that one) has decided Mini-Meds(AKA limited benefit plans) are toast.

Those of you that think these shell of a products will survive need to explain


Universal Orlando dropping health insurance: Universal Orlando will drop health insurance for part-time workers - OrlandoSentinel.com

 

[AllenChicago]

How did an HHS announcement of this magnitude escape those of us here on the forum?!?

Perhaps this is why the Regional Sales Manager from a mid-sized company suddenly cancelled his upcoming briefing at our agency, with no reason given. He was going to explain how his company planned to circumvent ObamaCare by selling plans just like what we have today..even though they would be labeled as Non-ACA compliant.

If limited-benefit plans are indeed going to be made illegal to sell, this means that Sebelius is sewing up all the holes in the bag forcing the mice to run out the top and right into the trap. BANG!

 

[HealthGuy]

Then why is Assurant beefing up and expanding sales with Health Access?

 

[taterpeeler]

Then why is Assurant beefing up and expanding sales with Health Access?

ignorance? dunno........but lets keep in mind this is coming from a reporter.... not a knowledgbale health insurance person in the know

 

[Ann H]

ignorance? dunno........but lets keep in mind this is coming from a reporter.... not a knowledgbale health insurance person in the know

Actually, I had read it in two other news sources today. But I didn't really think it meant there was NO market for supplemental or alternative policies. I just think those two huge companies saw that all those part-time employees will get subsidies or other GI coverage anyway, so there was no need to lay out the cash for the premium.

Actually, the death of the mini-med is one of the few good things to come out of this law. The other good thing was PCIP, even though it is now "in its final resting place", too.

 

[HealthGuy]

Ann and Tater I love you both you know I do but the mini med I dont believe is going anywhere. Assurant has spent millions marketing it, millions selling it, and they believe its going to be a stop gap for people who pay the penalty and go without Obamacrap coverage. Time will tell, but I think these plans will only become MORE popular.

 

[taterpeeler]

Ann and Tater I love you both you know I do but the mini med I dont believe is going anywhere. Assurant has spent millions marketing it, millions selling it, and they believe its going to be a stop gap for people who pay the penalty and go without Obamacrap coverage. Time will tell, but I think these plans will only become MORE popular.

for your sake you better hope your right even if all the writing on the wall is staring you in the face

man once told me his woman would never cheat on him even if his buddies were telling him his woman was seen out with another dude..... guess what, she was cheating....

 

[STIBROKER]

Ann and Tater I love you both you know I do but the mini med I dont believe is going anywhere. Assurant has spent millions marketing it, millions selling it, and they believe its going to be a stop gap for people who pay the penalty and go without Obamacrap coverage. Time will tell, but I think these plans will only become MORE popular.

yea.....and works on assurant's side when it comes to the mlr......

 

[somarco]

Mini-meds do not meet Obamacare guidelines for creditable coverage but I don't think they will be illegal, any more than HIP, CI or cancer plans.

But I could be wrong.

 

[Ann H]

I've often said that a carrier who designs a quality indemnity plan may win a lot of sales. It cannot be limited benefit, with extremely low dollar amounts, though, because those policies are worthless.

HHS says a plan like this can be exempt from Obamacare, if it pays a fixed rate, like a fixed dollar amount or per diem rate, not a reimbursement. It can't have deductibles, copays or co-insurance. From my understanding, it can use medical underwriting and pre-ex clauses.

Since most carriers already have "allowable" fees in their network contracts, they surely could come up with a fixed dollar amount, tied to medical inflation for future years. For instance, if $75 is their allowable amount for an urgent care visit, then a benefit of $40 would be good enough to provide valuable coverage while still making the member have some skin in the game. If a hospital room & board charge costs $1000 a day, then $500 for the first 5 days and $950 every day thereafter may be fair. That gives the member an internal "copay" or "deductible" without actually stating it as so. One of the problems is with making an out-of-pocket maximum on an indemnity plan without running afoul of Obamacare rules. But if a carrier can do it correctly, use a good network, make some type of out-of-pocket maximum, have fair underwriting, and rates far below Obamacare EHB plans, then I can see how it would sell.