Insurance Rumors

[ABC]

So on the I am hearing rumors that Wellpoint (Anthem) is pulling out of the short term medical market.

Anyone else hearing this?

Just got informed this is not a rumor.

So we now see the big players in the market start to make their exit from the Individual.

 

[senior-advisor-indiana]

I also heard this just today.

 

[Dave020]

Just Indiana, or other Anthem states?

 

[somarco]

Why pull out of the STM market? Those plans are exempt from Obamacrap.

 

[STIBROKER]

and hardly pay claims....I tell you wellpoint knows something....like when they yanked Unicare.....

 

[somarco]

According to my local BX rep, who isn't always on top of things, no plans to pull the BCBSGA STM line.

 

[cmbilt]

According to my local BX rep, who isn't always on top of things, no plans to pull the BCBSGA STM line.

Thanks Somarco. Just spoke with my rep too who confirmed.

 

[somarco]

This just in . . .

Indiana just pulled Short term. We got late notice but it did go out in the
Broker Advisor. I have attached below.
Short Term product sales discontinued in Indiana effective April 1 (IN)

At Anthem Blue Cross and Blue Shield, we strive to provide the best coverage
to our members, offering both stability and affordability
through our individual health coverage plans. We have made the
strategic decision to discontinue the sale of short-term individual health
insurance policies in Indiana effective April 1, 2011, as current premium
rates are insufficient to adequately cover claims and other costs.

This decision does not impact our current short-term policyholders. It
pertains only to the sale of new short-term policies. Anthem remains
committed to providing a variety of benefit plans for individuals and
families in Indiana.

Some important items to note:

* All applications must be submitted online or received in our
office by end of day 3/30/2011 for a 3/31/2011 effective date. This is
the last day short term applications will be accepted.
* We will deactivate Blue Short TermSM from our online broker
rating tools and from Plan Finder on 3/30/2011.
* This change will not impact existing short term policyholders.
Those individuals currently enrolled will continue to have the same coverage
through the stated policy period of the existing short term policy. If a
member is in his or her first short term period, he or she can not apply for
a second term.
* Please discard all Blue Short Term applications and marketing
materials associated with this discontinued product.

If you have further questions, please contact your local Regional Sales
Manager, or Broker Services at 1-800-742-8199.

Please ask me about Senior Dental and Vision!!
Wendy Frady -Regional Sales Manager Individual Products Anthem Blue Cross &
Blue Shield

 

[STIBROKER]

 

[AllGold]

So they under-priced STM and have decided to yank it entirely until they can figure out / get approval for increased rates? Think it will be back later this year?