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soardove
New Member
@goillini52 Ha! I like this shirt. 
What makes an individual major medical carrier good or bad for brokers to work with?
- Thread starter soardove
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I'm okay with catching some grief. I really am interested in answers to my question though. Decent is new, and I want to know where (besides my shirt) we can start to be a good partner to brokers.
OP flag says TX, website says
One Embarcadero Center #26609, San Francisco, CA 94126
and
Decent, P.O. Box 4366, Seattle, WA 98194-0366
Is the company really in 3 states?
Self funded or fully insured product? Reinsurance? Issuing carrier?
FWIW most agents left the true major med market in 2014 or shortly after. Many of those that remain are offering STM, indemnity plans, sharing programs . . .
One Embarcadero Center #26609, San Francisco, CA 94126
and
Decent, P.O. Box 4366, Seattle, WA 98194-0366
Is the company really in 3 states?
Self funded or fully insured product? Reinsurance? Issuing carrier?
FWIW most agents left the true major med market in 2014 or shortly after. Many of those that remain are offering STM, indemnity plans, sharing programs . . .
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- #15
soardove
New Member
Thanks @somarco ! We do have offices in 3 states, but our plans are only available thus far in Austin, Texas and that's where I am. I updated the main website address to be less confusing.
Self-funded, plus stop loss reinsurance. Not STM, indemnity, or health sharing. Decent partnered with the Texas Freelance Association to help self-employed people and 1099 contractors band together via a MEWA to self-insure and reduce costs, similar to large companies who self-insure. All plans are ACA-compliant and sold off-exchange, and we don't do medical underwriting. I want to follow the rules about promoting, so please message me if you'd like to know more.
In the meantime, any tips on how to be good for brokers to work with?
Self-funded, plus stop loss reinsurance. Not STM, indemnity, or health sharing. Decent partnered with the Texas Freelance Association to help self-employed people and 1099 contractors band together via a MEWA to self-insure and reduce costs, similar to large companies who self-insure. All plans are ACA-compliant and sold off-exchange, and we don't do medical underwriting. I want to follow the rules about promoting, so please message me if you'd like to know more.
In the meantime, any tips on how to be good for brokers to work with?
Lee has more current experience with MEWA's than I do. Don't think he managed any for individual products, only employer groups.
You are not the first to try this approach. Probably won't be the last. MEWA's are tough to manage . . . stay ahead of the claims.
I thought this one crashed and burned but it seems to have come back from the dead.
Freelancers Union
A number of years ago I had the reinsurance on homogenous associations, mostly professional, not trades. It's a toss up as to which was worse.
Good luck.
You are not the first to try this approach. Probably won't be the last. MEWA's are tough to manage . . . stay ahead of the claims.
I thought this one crashed and burned but it seems to have come back from the dead.
Freelancers Union
A number of years ago I had the reinsurance on homogenous associations, mostly professional, not trades. It's a toss up as to which was worse.
Good luck.
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- #17
First thing I would do is change the name.. "Decent" heath care sounds as if it is "just OK'..... but, nothing to write home about..
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- #19
soardove
New Member
@rousemark Thanks for the feedback. Maybe we can earn the name "Good" in a few years...
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Will you be competing with large carriers offering self funded group coverage in terms of plan design?
Most leave out some of the items from ACA like pediatric vision/dental. They are medically underwritten, so I would think you could be up for adverse selection if you don't medically underwrite. Well, unless there is a strict pre-existing condition clause built in.
I guess since the association approach would be for individual business owners it's a bit different market. As an agent, I would be wary of any plan without very reliable reinsurance, if self funded.
Plans offered would be more attractive to agents with fewer not covered items to explain. Have been reading fine print on STM policies. Back to the days of UCR balances and obscure terms that mean things aren't covered right away. Six month wait for cholecystectomy. I had to look it up: gall bladder removal.
Most leave out some of the items from ACA like pediatric vision/dental. They are medically underwritten, so I would think you could be up for adverse selection if you don't medically underwrite. Well, unless there is a strict pre-existing condition clause built in.
I guess since the association approach would be for individual business owners it's a bit different market. As an agent, I would be wary of any plan without very reliable reinsurance, if self funded.
Plans offered would be more attractive to agents with fewer not covered items to explain. Have been reading fine print on STM policies. Back to the days of UCR balances and obscure terms that mean things aren't covered right away. Six month wait for cholecystectomy. I had to look it up: gall bladder removal.
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