Got an email today about this new plan, looks interesting for upcoming Obanacare enrollment.
United Healthcare Hospital Indemnity Plan
- Thread starter Iwillpay
- Start date
- 8,448
Indeed it does! But be sure to market this plan properly, or your screen name will be prophetic of your future.
- Thread starter
- #4
I did my research and see the pros and con of the policy.
It does fit a place with the U65 healhty Obamacare clients especially on the Bronze plan.
I've been layering the bronze/silver plans with a hospital indemnity product for a while now.
Excellent option for clients who went the cheap way, found they don't like having a $3000-6350 deductible, and then found out the hard way they're stuck in their plan until the end of the year (the plan I'm selling doesn't have to coordinate effective dates and has no OEP). If they want to lower their deductible/OOP expense, an indemnity plan (although reimbursement and not off-the-top) is a nice way of doing it.
It also works well in groups where the owners only want to offer silver or bronze-offer the indemnity plan on a voluntary basis which does not calculate into the 9.5% affordability requirement!
Excellent option for clients who went the cheap way, found they don't like having a $3000-6350 deductible, and then found out the hard way they're stuck in their plan until the end of the year (the plan I'm selling doesn't have to coordinate effective dates and has no OEP). If they want to lower their deductible/OOP expense, an indemnity plan (although reimbursement and not off-the-top) is a nice way of doing it.
It also works well in groups where the owners only want to offer silver or bronze-offer the indemnity plan on a voluntary basis which does not calculate into the 9.5% affordability requirement!
Long ago I looked at layering coverage and decided to pass.
I suppose these plans work great, as long as you are admitted to the hospital. Not so much if you rack up a bunch of bills outpatient.
Too many ways you can get nailed if someone has a large claim and the plan doesn't pay. You can bet, not matter how well you 'splained it, memories will fade and all they have to say is "You told me it would cover everything"
If you want to make a few bucks on the front end and hope you never have to pay on the back end, good luck.
I suppose these plans work great, as long as you are admitted to the hospital. Not so much if you rack up a bunch of bills outpatient.
Too many ways you can get nailed if someone has a large claim and the plan doesn't pay. You can bet, not matter how well you 'splained it, memories will fade and all they have to say is "You told me it would cover everything"
If you want to make a few bucks on the front end and hope you never have to pay on the back end, good luck.
- 1,735
Ditto to above, not comfortable the insured's will remember all the things that aren't covered on an accident or HI or CI policy
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