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US HEALTH AND LIFE INSURANCE COMPANY - Home
Anyone have experience selling there group product under 50?
Anyone have experience selling there group product under 50?
US Health & Life
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"agg" what does this mean
I know they have a TPA with Automated Business Solutions or the TPA might own the full insured division.
This is a self-funded product, except it is made to look like a fully insured. By the way, I am in no way disparaging this, we have been successfully marketing these products for years.
Agg only means that there is only an aggregate stop loss, no spec. The group will be given a rate that looks fully insured, because it is rated to the max. If the group does a good job of controlling costs (incentives, case mgt, proactive cost controls, etc.) they are eligible for a refund of the claims. For example, we had a group with $400,000 of "fully-insured" premium and a claim cost of $221,000. If claims came in under $221,000, the group got that amount back.
You can do a couple of things with this product. First is sell it just like any other product. Keep in mind, the carrier is not going to underwrite everyone, so you need to become a field underwriter of sorts so as to not waste your time.
The second is that you could accumulate enough memebership via sales that you could create your own captive program. This essentially is creating your own insurance company.
Agg only means that there is only an aggregate stop loss, no spec. The group will be given a rate that looks fully insured, because it is rated to the max. If the group does a good job of controlling costs (incentives, case mgt, proactive cost controls, etc.) they are eligible for a refund of the claims. For example, we had a group with $400,000 of "fully-insured" premium and a claim cost of $221,000. If claims came in under $221,000, the group got that amount back.
You can do a couple of things with this product. First is sell it just like any other product. Keep in mind, the carrier is not going to underwrite everyone, so you need to become a field underwriter of sorts so as to not waste your time.
The second is that you could accumulate enough memebership via sales that you could create your own captive program. This essentially is creating your own insurance company.
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- #5
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I am not sure we are talking about the same thing.
US Health & life is launching a small group fully insured product in my state.
I know they are in the TPA business but I am interested if anyone has done business with them.
US Health & life is launching a small group fully insured product in my state.
I know they are in the TPA business but I am interested if anyone has done business with them.
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I had some conversations with them, ABC. They seem on the up & up, and have a fairly decent product line. In the end, it is what Lee is talking about that they are really trying to push, more the small group self-funded plans.
Lee's offerings are superior, after researching.
Lee's offerings are superior, after researching.
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I am impressed by the company name, but apparently they are not licensed in PA.
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- #8
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They have taken over the what is left from the American Community block. I had move my group biz from them 1 year before they went under.
To have a new carrier coming into the small group market is a really good sign. So I am hoping they will be competitive.
As for partial self funded products they told me that they will be offering them in the future.
To have a new carrier coming into the small group market is a really good sign. So I am hoping they will be competitive.
As for partial self funded products they told me that they will be offering them in the future.
