Land Of Lincoln

[ARus]

Where are most of your LOLH clients located? If in COOK county, you can place them with Harken and they might actually thank you for it. Plus, I believe Harken is still paying us for our efforts.

LLH first is owned from its members, and the board should ask its members for help. If each member pay $800, they are out of trouble. The co-op is a good thing and hate when good things are going down, and more, I hate when people (including us-brokers) do nothing to help themselves. Doesn't matter where we will move our clients, they will pay more for the remaining period of the year, and will recieve less.

All this people (our clients) should be aware of it. No magic pill, but when you are a partial owner, you should behave as such.

I can't really understand all this sheepish mentality. It is worst than that mentality people have under dictatorship. There at least they are worried about their lives. What they have to loose here is control over their finances.

Can you do something: yes, instead of moving people here and there, we can send them information about the reality - they will pay more with any other insurer, or they will have something with is nothing (the company with no network). So, they can send mails to LLH and ask the company to ask each member for 1 time help of 800!!! They are the owners-the members!!!

 

[AllenChicago]

ARus, I agree with your overall concept that members/insureds could help LOLH stay afloat. How do you arrive at the $800 figure? I don't think it would get the company "out of trouble" long-term, if claims and expenses are higher than the monthly premiums received?

One thing I know for sure is that the tentative September 30th LOLH plan termination date will make clients angry who have ongoing chronic medical issues. They will have to start with an entirely new deductible/OOP on October 1, 2016.

 

[ARus]

ARus, I agree with your overall concept that members/insureds could help LOLH stay afloat. How do you arrive at the $800 figure? I don't think it would get the company "out of trouble" long-term, if claims and expenses are higher than the monthly premiums received?

One thing I know for sure is that the tentative September 30th LOLH plan termination date will make clients angry who have ongoing chronic medical issues. They will have to start with an entirely new deductible/OOP on October 1, 2016.

If you divide 32 million by 46000 (members) is 800.

LOLH's management wasn't communicating their problems. They should be taken in court for this fact. They weren't enough proactive.

Members should start sending mails and e-mails and agents should do same as well. We were misleading our clients because of the LOLH management lack of transparency.

I prepared a mail to my clients. Actualy 2 emails/mails: one to them and one to LOLH . I can do at least this. They are members and should exercise their rights. One of them today told me, that his doctor informed him that his insurance doesn't work anymore. Hi is a district manager in our industry, and shared that at least he should do not learn the news from his doctor.

I also think that a copy from the mail sent to LOLH should be forwarded to Federal Trade Commission as well.

What you think?

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ARus, I agree with your overall concept that members/insureds could help LOLH stay afloat. How do you arrive at the $800 figure? I don't think it would get the company "out of trouble" long-term, if claims and expenses are higher than the monthly premiums received?

One thing I know for sure is that the tentative September 30th LOLH plan termination date will make clients angry who have ongoing chronic medical issues. They will have to start with an entirely new deductible/OOP on October 1, 2016.

Yes, I agree that the problem probably is bigger and the financial trouble is larger, but do you know any business which made profit during its first 3 to 5 years? I don't. And LOLH numbers weren't bad at all. I they gave up? Who told them to do it? Is this a political game?

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Seven Remaining Obamacare Co-Ops Prepare Survival Strategies | Kaiser Health News

is a good review how other co-ops are dealing with challenges.

 

[AllenChicago]

**IMPORTANT & TIME SENSITIVE**

Monday July 18, 2016

It looks like no amount of letter writing, or other efforts, is going to make a difference at this point. ALL Land of Lincoln Individual and Group policies will terminate at the end of the day, on September 30, 2016. Starting with a new company will also mean starting a new deductible. Clients will be starting a new deductible on October 1st..and then again on January 1, 2017.

Land of Lincoln Health now has a Web Page that describes what existing clients need to do, starting on August 2nd, in order to transfer to another company.

Here's a link to that page: https://www.landoflincolnhealth.org/important-notice-members/

FYI: Oregon's Co-Op recently started a shut-down, for the same reasons as LOLH. But the state of Oregon is covering any portion of the deductible that was already met, when the client chooses a new company. Illinois is broke, so that wasn't possible here. Bad news for those who have already paid a lot of out-of-pocket medical expenses this year.

 

[FRJ]

Major poop. Since no other insurers are paying, that's a nice stream of income going out the window.

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Where are most of your LOLH clients located? If in COOK county, you can place them with Harken and they might actually thank you for it. Plus, I believe Harken is still paying us for our efforts.

No, I believe they're at zero as well. They had been paying until April or so.

 

[ARus]

Major poop. Since no other insurers are paying, that's a nice stream of income going out the window.

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No, I believe they're at zero as well. They had been paying until April or so.

So, we should prepare our luggage and move on a different line of business. I expected it, but not so soon

 

[AllenChicago]

So, we should prepare our luggage and move on a different line of business. I expected it, but not so soon

Hopefully LOLH will still pay commissions on the June/July/Aug/Sept premiums. We (brokers) have yet to receive an official e-mail notification from Land of Lincoln Health regarding any aspects of their shut-down. At least I haven't received anything. Have any of you?

 

[ARus]

Hopefully LOLH will still pay commissions on the June/July/Aug/Sept premiums. We (brokers) have yet to receive an official e-mail notification from Land of Lincoln Health regarding any aspects of their shut-down. At least I haven't received anything. Have any of you?

No, I didn't as well. Should we inform our customers, or we should wait first to recieve our mails?

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Q7: What happens if the CO-OP time-line changes as a result of State Department of Insurance (DOI) concerns?

A7: Consistent with recommendations of the CO-OP Advisory Board, CO-OPs should begin discussions with the State DOI as soon as possible and prior to submitting an application in order to be able to provide solvency information as required in the application and comply with any State requirements that will be essential to formation, operation, and licensure of the CO-OP. Successful applicants will have three years from the first drawdown of Start-up Loans to work with their State DOI to become licensed in order to offer qualified health plans. Successful applicants will be unable to draw down solvency loan funds until such funds are required by the State DOI to complete the licensure process.

Also:
Q11: Would a conversion to a for-profit entity be prohibited in all situations? What if the CO-OP Members voted in favor of such a conversion if it meant that coverage would be preserved? What happens if, after several years of operations, the CO-OP needs additional financial support and the most suitable alternative is private equity? Would a conversion be prohibited?

A11: Under the Final Rule, a CO-OP conversion to a for-profit entity is prohibited in all circumstances.

and here:
Q35: Can the Solvency Loans be requested over a ramp-up period (i.e. 2014 through 2016)?

A35: As stated in the FOA, applicants should request the total amount they anticipate requiring during the life of the loan. However, as further stated in the FOA, “CMS anticipates that Solvency Loan recipients may need to draw down the loan in multiple phases.”

and more here: https://www.cms.gov/CCIIO/Resources/Funding-Opportunities/coop_foa_faq.html

Obviously we know very little how LOLH behaved businesswise during last year and how sudden their failure became?

 

[leevena]

LLH first is owned from its members, and the board should ask its members for help. If each member pay $800, they are out of trouble. The co-op is a good thing and hate when good things are going down, and more, I hate when people (including us-brokers) do nothing to help themselves. Doesn't matter where we will move our clients, they will pay more for the remaining period of the year, and will recieve less.

All this people (our clients) should be aware of it. No magic pill, but when you are a partial owner, you should behave as such.

I can't really understand all this sheepish mentality. It is worst than that mentality people have under dictatorship. There at least they are worried about their lives. What they have to loose here is control over their finances.

Can you do something: yes, instead of moving people here and there, we can send them information about the reality - they will pay more with any other insurer, or they will have something with is nothing (the company with no network). So, they can send mails to LLH and ask the company to ask each member for 1 time help of 800!!! They are the owners-the members!!!

I cannot believe what you wrote here, are you serious or tongue-in cheek?

Do you really believe the policyholders should come up with money? Taking that logic, then stockholders should also come up with money in a similar situation. And keep in mind most people own stock, either directly or via mutual funds.

The coop is a good thing? These coops were doom to failure from the very beginning, and I said as much on this forum a few years ago.

 

[ARus]

I cannot believe what you wrote here, are you serious or tongue-in cheek?

Do you really believe the policyholders should come up with money? Taking that logic, then stockholders should also come up with money in a similar situation. And keep in mind most people own stock, either directly or via mutual funds.

The coop is a good thing? These coops were doom to failure from the very beginning, and I said as much on this forum a few years ago.

You should try to think out from the box, or all monopolists out here and there will and are making our lives miserable. It is a difference between stocks and mutual funds and co-op members' ownership. In co-op you are owning even physical parts from the entity or its system which is making money for you and other members. On the stock market you are owner of an imaginable VALUE (xaxaxa) and if you don't like it, you can sale it. In co-ops you can't sale your part. You are in, you are co-owner; you are out-you don't have nothing. This is what I remember about it. And it still exists and works. LOLH was not good enough, because was not for profit. But they can ask for help their members based on the fact they aren't for profit.

I understand the fact you think I am creasy to have this idea. Most people are thinking as you, and there is the problem.