Limited Benefit Plans

[STIBROKER]

They are required to do so in GA.

Same for yr end deductible carryover.

State specific.

same way in texas.......................

 

[DBKuhnke]

Yes that was where I was going with this. So what do people who need insurance for like 30-90 days do for coverage? Underwriting can take that long for some people...

The question is, what do they need coverage for? Access to care, to show continuous coverage, preexisting condition? The telemedicine program HealthNation and some others will at least provide access to primary care who can prescreen issues. You also get Pharmacy discounts averaging 37%, a patient advocate who can negotiate bills pre and post incurred, and it is only $30 per month.

 

[DS4]

The telemedicine program HealthNation and some others will at least provide access to primary care who can prescreen issues. You also get Pharmacy discounts averaging 37%, a patient advocate who can negotiate bills pre and post incurred, and it is only $30 per month.

If I enroll, will I receive a free butcher apron? Did the dingo eat your baby?

 

[Bob_The_Insurance_Guy]

I choose to not sell LB plans, I don't care for the late night client call, crying their eyes out because they are not getting the care they need or it financially wiped them out. If you must sell it, have the client sign a disclaimer form. You'll sleep better, and your E&O costs will be minimized.

Briefecase, I agree with your comments, but it's a crap shoot. A number of facilities are demanding payment if not life threatening. The hospital does call and verify coverage, and the type of plan. But what's funny, is the hospital staff has no idea how the insurance side works, or the terminology. Ex: We went to ER a few months ago, I handed over my card, my son got the care. I have a 10k HSA. 30 min later, staff comes in and states they called my insurance company, and "I do not have any copay" for the ER visit, so no money is due at this time. I laughed and thought about the fricken idiots we have in the system.

They actually have it correct. With a HDHP, there is no copay at time of service. The bill is sent to the insurance company for adjudication, then you are sent a bill for the negotiated rate. Then you have 30 days to pay that bill. This is one of the benefits of HDHP's and is often overlooked when selling this product.

The education is, evidently, not only on the consumer side, but, sadly, also on the agent's side.

As for Limited Benefit Plans, I have 1 person that has been on one for the past 3 years. I not only had her sign something, I also sent it to my attorney, and made her aware of that fact. Every six months I remind her of it. She is well aware of it's limitations. She has it strictly for the doctor visit charge and the savings on one of her most expensive medications.

 

[stiffy]

limited med is a lawsuit waiting to happen. I remember when I worked in a call ctr. and one of the guys there came up with "health, dental, vision, full package" as he was pitching it. I called him out on it, "Only you could call this a full package," I said. Soon everyone started colloquially calling it the "full package."

 

[dgoldenz]

limited med is a lawsuit waiting to happen. I remember when I worked in a call ctr. and one of the guys there came up with "health, dental, vision, full package" as he was pitching it. I called him out on it, "Only you could call this a full package," I said. Soon everyone started colloquially calling it the "full package."

I ran into one of those today and was about to get the "I already found something" line, but I pressed her on what exactly it was since I know nobody sells a health/dental/vision combo. Lady thought she had an Aetna major med plan because that's what the guy was pitching. "It's full coverage" is what she was told.

Turns out it was an overpriced 6-month STM policy. Of course, that won't cover any pre-ex either. The policy was through Starr Indemnity, not Aetna. Wrote her a policy with Anthem for a few bucks more a month and got a referral out of it too.

 

[somarco]

Good for you David. When I run in to this I will ask but not pursue if they have an attitude. Have turned a few around, but most seem annoyed someone called . . . even though they provided a phone number.

Had one a few years ago that I called as soon as the notice hit my email box.

I already bought?

Really? In the last 15 seconds?

Yes I did.

 

[Yagents]

I just got done watching John Grisham's "The Rainmaker" movie. For those of you selling Limited Bene plans, or thinking of doing it......you should watch the movie. Substitute "denying" claims with "maxed" out claims. You are dealing with people's lives and assets. If this movie doesn't open your eyes or your heart, then get out of the biz !!

 

[somarco]

is fitting as well.

 

[AllGold]

Good for you David. When I run in to this I will ask but not pursue if they have an attitude. Have turned a few around, but most seem annoyed someone called . . . even though they provided a phone number.

Had one a few years ago that I called as soon as the notice hit my email box.

I already bought?

Really? In the last 15 seconds?

Yes I did.

I get those occasionally. You have to wonder what kind of a disservice they may have done to themselves.