The parent, no matter how sound, is not the one issuing the policy. When the sub-carrier retreats from the state, that block is closed. Those who cannot move are part of a block that is getting older and sicker. Eventually that block will go into a death spiral . . . typically 5 to 7 years after the block is closed.
LVHN dropping Aetna insurance coverage
- Thread starter Northeast Agent
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The parent, no matter how sound, is not the one issuing the policy. When the sub-carrier retreats from the state, that block is closed. Those who cannot move are part of a block that is getting older and sicker. Eventually that block will go into a death spiral . . . typically 5 to 7 years after the block is closed.
- 29,491
I realize that, I just got out of one by switching to a GI BCBSIL.
What carriers that have been around for a few years haven't closed a block of business? The only ones I can think of are Oxford and Atlantic Coast Life.
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UHC (which I don't use) has been reasonably stable, Anthem and a few smaller carriers such as PAL and Bankers Fidelity.
Oxford is not available here . . . might have been a few years ago, can't say for sure.
ACL is in the top third of non-competitive companies.
I have no reason to chase the low ball rate or carriers who will approve anyone who can fog a mirror.
And yes, I will walk away from a case if it doesn't fit my business model. I would rather do that than put up with the headache of dealing with double digit rate increases.
- 29,491
Doesn't UHC have a new UHC (not ARRP) product coming out? They've never been competitive on their premium here. I forgot about Bankers Fidelity, I just replaced my last one. The woman's premium is less than half of what it was with Bankers Fidelity. PAL, is that Pan American? Never picked them up.
The only carrier I know of that takes anybody that can fog a mirror is BCBSIL...they're GI.
I like to move my clients every couple of years, as long as they can....before they get locked into a closed book. It's a win win situation. Their premium stays reasonable, and I get a fresh 6 years of FYC. Also. with the monthly savings, they often take out another policy. They know I'm looking out for them, and that leads to referrals.
Not competitive here either until they finally introduced G in 2020. They got rich hosing folks on their F plan and touting the benefits of an ARP membership.
I don't do much with BFLIC any more . . . except a few N plans. Most of the G plans that have been on the books for years are still in the hunt.
PAL = Philadelphia American Life, a New Era sub. Most of my T65 G folks go with Anthem but I will use PAL for underwritten cases from time to time.
All carriers here (except USAA) are issue age. Once they have been on the books 3 - 4 years most of the time there is no reason to move them. If I pick my carriers based on longevity it usually works out. Got burned on the MOO merry go round early on . . . and Equitable shot themselves in the foot and had to sell to SILAC. That hasn't ended well.
Might be a different story in a state where attained age is the game plan.
- 29,491
New Era isn't competitive here. Humana Acheive is Issue Age, Physicians Mutual has Issue Age and Attained Age, AARP's Community Rated and all the rest are Attained Age in Illinois.
have either of you in this conversation tested the Medical Savings Account waters? policies are available in GA & IL.
I've had many, many, MANY conversations with clients in GA, IL, TX, the Carolinas the past few years - but no one decided they wanted to be driving the Medicare coverage DeLorean -- until, maybe, this AEP.....
- 29,491
Lasso looks like a good product, but I didn't certify with them again for 2023 because nobody will take it in my neck of the woods.
Agreed. Seems like it's been an option with potential virtues for people who want a cap on the annual maximum they might spend, don't want to hassle with networks but don't want to hassle with monthly premiums (other than a standalone Rx plan) either. Still, no one's made the plunge yet.
I'd give it a go myself but MSAs aren't available in CT from Lasso or anyone else.
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