Why does the DoI care about replacement?
- Thread starter Survivor
- Start date
- 15,319
They want to make sure you are replacing coverage because it's in the clients best interest and not simply to make a quick commission. They don't want agents to churn policies which is what many of us do and do in the client's best interest with MA plans.
Rick
- 9,744
Just a guess, but there are less than ethical people working in our business that might suggest a switch that's not in the policyholders' best interest.
Not sure how effective it is, but it's a state insurance department's way of trying to "protect" the consumer - by letting them know they should get a full disclosure of the facts before replacing, and be fully advised in the premises.
OneMorePolicy
Expert
- 59
Even the new insurance carrier doesn't want you to sell their policy if the client will be in a worse position after the replacement (reading their training manual now, rubbing my eyes again and that message is still there, gotta keep the client's welfare numero uno)
Agent Jeff
Expert
- 80
It's to keep the insurance industry from ruining its reputation by performing transactions that do little but transfer value from trusting client to the insurance companies.
- 14,808
We should have replacement rules for health. Would put companies like Mega out of business.
- 3,863
Depending on the state, we do.
In Texas you have to sign a "replacement of insurance form" - which basically says you may be replacing with lower benefits, blah blah blah
No one reads it... It is the old "Hey sign here, here, and here"... People buy what slimy agents sell them. There is really no way to get a grip on replacement - I think the form is a complete joke and waste of time in Texas.
Again it goes back to - unless individual health plans were standardized A-Z (or similar) there is no way to rank or rate carriers, etc., etc., A good Mega Life agent could easily spin Mega as better than BCBS, etc., etc.,
I like your idea of having standardized plans that consumers can select. An excellent article that I came across after visiting Bob's site can be found here California Medicine Man: Health Insurance: catastrophic versus insular?
We need to get away from the "I'm entitled to this and I'm entitled to that" mentality and find the "Ask what YOU can do for your country" mentality of JFK's time. Each citizen is entitled to Life, Liberty and the Pursuit of Happiness. In other words, once you're born you have the liberty to work your ass off like the rest of us and find the things in life that make you happy.
People are living longer, living healthier lives, and we even have the ability to watch tv while we're in the crapper or listen to music in the shower without fear of being electrocuted....Life is good..........
I rather let the market dictate what does and does not happen. As HSA's become more prevalent I see price transparency increasing throughout the nation, which will in turn increase the quality of health care, as well as stabilize health care costs. Give consumers the ability to choose multiple options and the market will work itself out eventually. We are becoming a society that is so bored with our lives that we have to watch other people who are bored on television. When are we going to have televised executions that we can order on pay per view?
Places like the Minute Clinic will hopefully pick up momentum and people will soon learn to think for themselves about how they spend their money. We cannot expect anybody to take responsibility when it is not their money at stake.
I don't know about you guys and gals, but when I was growing up I only went to an emergency room when I had a limb missing (jokingly). I'd go to the doctor when I was sick because we know that men go once every 10 years and women usually take care of those things. Not a bad way to live, but get rid of the copay's and let doctors compete for business just as any other business does on the market. The intelligent person will recognize that the facets of an individuals health include environmental, GENETIC and social influences. Women and children should be taken care of first because I'm old fashioned and it's the right thing to do for the future.
If you're not a citizen, you either PAY ON THE SPOT OR SET UP A PAYMENT PLAN W/ COLLATERAL. Start operating a hospital as a business and you'll be left with people who cannot hack it and others filling their place, as well as the abolition of the "immigrants cause health care costs to go up" excuse that is BS.
- 3,863
There are millions of non citizens living in the U.S. - my wife being one of them (she has insurance and of course in not illegal). I also have a guest here from another country - she is a visitor (she has insurance also through IMG, and of course is not illegal either).
I assume you were speaking of illegals - and I agree 100%... However, here is a better idea - when an ILLEGAL seeks medical treatment, INS picks them up at the hospital detains and deports them. How many illegals would seek medical care if they knew before release they would be deported?
Why stop at illegals?
Why should ANYONE with no insurance receive care without collateral?
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