- 1,328
Good point... had you done a 1035 exchange, the poor bloke would still be alive...
WHAT made you a believer in this business?
- Thread starter NewHealthStrategies
- Start date
- 3,384
For me when I switched to health insurance. Guy was referred to me by a client (one of my first health insurance clients and with Blue Cross CA) because his wife was ill and they had just lost their group plan (realtors) through the defunct Lifeguard.
That is when I found out about HIPAA for the first time and we submitted the application with him literally counting the 18 months prior coverage on a napkin (yes, we submitted a copy of the napkin).
Turns out she had leukemia, and was on full-time inpatient infusion therapy. Sadly, she passed away, and the full bill was nearly 1 million dollars. Hospital waived the deductible because of the size of the bill. It was then that I know how powerful good coverage was in terms of the potential catastrophic loss.
That is when I found out about HIPAA for the first time and we submitted the application with him literally counting the 18 months prior coverage on a napkin (yes, we submitted a copy of the napkin).
Turns out she had leukemia, and was on full-time inpatient infusion therapy. Sadly, she passed away, and the full bill was nearly 1 million dollars. Hospital waived the deductible because of the size of the bill. It was then that I know how powerful good coverage was in terms of the potential catastrophic loss.
- 1,328
I don't see how this article is relevant?
These folks surrendered their existing LIFE policy. A 1035 exchange would have been totally acceptable based upon the details given...
The reason I do health insurance -- (I know you financial planner guys think you're above selling health insurance
but.......... it's not that difficult if you do it right.
My moment was when I got a call from a 33 year old young man that had just been diagnosed with Hepatitis C. (Wonderful young family.) He was looking at maybe a liver transplant or a round of Rx drugs that could possibly run $1,600 each week and/or possibly some new drugs that could run $13,000 each month. Yes, that is $13K per month!!!
I had sold him a plan that didn't have a limit on transplant or Rx -- other than the plan limit of $5M. When he called me to let me know of his diagnosis he had remembered my presentation of why the limit on Rx could come back and haunt him if he was diagnosed with a serious illness. He is very grateful that he has that plan.
This young man had received two blood transfusions when he was 6 months old that saved his life but gave him Hep C. He also was a bull rider for several years so he is the typical bullet-proof young man you see out there, maybe even more so. His wife prompted him to get the plan with the better Rx for around $25 more a month mostly because of the children.
After our initial conversation about the coverage his wife sent me a thank you with their kid's pictures included. It was extremely gratifying.
I know most of the time the limit on Rx is not an issue but isn't insurance supposed to be for the things that are typically not an issue not the daily crap we can pay for ourselves. I constantly get the "Why don't you offer BC/BS or Aetna more you do?" question from other agents. That's why. Although it's getting more and more difficult to find a plan with good Rx coverage. (GR just changed their Tier 4 Rx to 25% copay instead of a set $ amount.)
That's my soapbox today
but.......... it's not that difficult if you do it right. My moment was when I got a call from a 33 year old young man that had just been diagnosed with Hepatitis C. (Wonderful young family.) He was looking at maybe a liver transplant or a round of Rx drugs that could possibly run $1,600 each week and/or possibly some new drugs that could run $13,000 each month. Yes, that is $13K per month!!!
I had sold him a plan that didn't have a limit on transplant or Rx -- other than the plan limit of $5M. When he called me to let me know of his diagnosis he had remembered my presentation of why the limit on Rx could come back and haunt him if he was diagnosed with a serious illness. He is very grateful that he has that plan.
This young man had received two blood transfusions when he was 6 months old that saved his life but gave him Hep C. He also was a bull rider for several years so he is the typical bullet-proof young man you see out there, maybe even more so. His wife prompted him to get the plan with the better Rx for around $25 more a month mostly because of the children.
After our initial conversation about the coverage his wife sent me a thank you with their kid's pictures included. It was extremely gratifying.
I know most of the time the limit on Rx is not an issue but isn't insurance supposed to be for the things that are typically not an issue not the daily crap we can pay for ourselves. I constantly get the "Why don't you offer BC/BS or Aetna more you do?" question from other agents. That's why. Although it's getting more and more difficult to find a plan with good Rx coverage. (GR just changed their Tier 4 Rx to 25% copay instead of a set $ amount.)
That's my soapbox today
- Staff
- #16
Sorry to tell you this but there is no major med company in texas that will accept a Hep C case(unless you wrote a 2 man group max rated).......unless it is the risk pool....then would still have a prex waiting period.....
Last edited:
As much as I appreciate the real LIFE stories the life insurance industry publishes in magazines during life insurance awareness month, I think the ones that end tragically provide much greater motiviation for me as an agent. I've not been in this situation directly but we all know someone we could have and should have sold a policy for major commission.
I guess I didn't make it clear, he signed with me two years before he was diagnosed with the Hep C. No pre - existing because there weren't any symptoms, he wasn't aware of it or hadn't sought treatment for it. They are currently paying all his bills without any argument so I know what I'm talking about.
- Staff
- #19
Similar threads
