Mega Strikes Again NASE/UGA/HEALTHMARKETS

[Crabcake Johnny]

If you want to call some one out; calling them a liar, insinuating they got fired from a company, etc...you can either post your real name or the post can get deleted. We won't have any cowardly attacks on this board. Anyone has anything to say to me just call me: 410-870-0738.

 

[NHB_MMA]

All of them are only concerned about their stock. I have two friends still there - one in for 8 years one in for 10. One of them made me laugh when they said it's like prison sentence "only 18 months to go." Neither or them are barely selling anything - just biding time. I don't say as I can blame them. One of them, if he quit, would be walking away from over $400,000 in stock.

Wow, that has to be tough. What do you do in such a situation? I mean, I know you have quotas and stuff, but their stuff is such crap. I think the only thing I could do is work it to death selling their major medical plan (NASE did have one MM plan when I was there although it was so pricey everyone went with the R&B plan) to people that want a high deductible.

When I was there about a week or two, I went with an agent to meet a pet shop owner that was uninsured. The guy wasn't broke, but he just would not spend $600 or so per month on his health insurance. He didn't get anything from BCBS or any of the other large companies in the area, because he was seeking a large deductible like 10K. The agent is sitting there pricing out that R&B garbage and I'm like "Joe, I don't mean to interupt here, but for this situation what about the other plan?". Everyone was happy when it was done. I'm sure the plan was not the lowest priced 10K deductible plan out there, but the guy was taken care nonetheless. The drug coverage was a little shady, but, being that the coverage was major medical, one can honestly say it was better than nothing. As discussed before, the R&B is worse than being uninsured. If I'm going to filing bankruptcy anyway, I might as well save the $300-$400 I per month for the lousy coverage.

 

[Eric2000]

Todays Boston Globe

Affordable insurance serves a market
November 7, 2006

IT'S A nice-sounding idea: Ban health insurance that lacks comprehensive coverage. Defined-benefit plans, one activist says, should "never hit the market" ("Low-cost insurer leaves some with bills and a bitter taste," Business, Oct. 31).

That's like requiring everybody to drive a Lexus. Trouble is, not everyone can afford Lexus-style health insurance. More than 1 million insurance customers choose HealthMarkets companies because we offer value, flexibility, and affordable rates.

The Globe portrayed HealthMarkets as responding to a customer issue because, according to the customer, we feared "really bad press." Our records show the customer never brought her complaint to the company. Once informed by the paper, we worked to resolve the issue. It was the right thing to do.

We work to ensure our customers fully understand the products they buy. We contact every new customer who purchases a defined-benefit policy to review selections. We have made approximately 160,000 benefit confirmation calls since 2005.

Because of the high cost of comprehensive insurance, many people face the difficult choice between limited coverage and no coverage at all.

The costs are especially high for individuals, small businesses, and the self-employed-market we have served proudly for more than 20 years.

WILLIAM J. GEDWED
President and CEO
HealthMarkets
North Richland Hills, Texas

 

[STIBROKER]

Todays Boston Globe

Affordable insurance serves a market
November 7, 2006

IT'S A nice-sounding idea: Ban health insurance that lacks comprehensive coverage. Defined-benefit plans, one activist says, should "never hit the market" ("Low-cost insurer leaves some with bills and a bitter taste," Business, Oct. 31).

That's like requiring everybody to drive a Lexus. Trouble is, not everyone can afford Lexus-style health insurance. More than 1 million insurance customers choose HealthMarkets companies because we offer value, flexibility, and affordable rates.

The Globe portrayed HealthMarkets as responding to a customer issue because, according to the customer, we feared "really bad press." Our records show the customer never brought her complaint to the company. Once informed by the paper, we worked to resolve the issue. It was the right thing to do.

We work to ensure our customers fully understand the products they buy. We contact every new customer who purchases a defined-benefit policy to review selections. We have made approximately 160,000 benefit confirmation calls since 2005.

Because of the high cost of comprehensive insurance, many people face the difficult choice between limited coverage and no coverage at all.

The costs are especially high for individuals, small businesses, and the self-employed-market we have served proudly for more than 20 years.

WILLIAM J. GEDWED
President and CEO
HealthMarkets
North Richland Hills, Texas

did he pay it out of his salary.....

http://swz.salary.com/execcomp/layouthtmls/excl_execreport_104694.html

no....Trouble is that here in texas is that I have many plans that are more comprehensive than mega life at lower rates.......

 

[Crabcake Johnny]

I'd like Mr. Gedwed to reply to this:

Maryland zip code 21122 - divorced struggling single mom age 30 with 2 kids.

I can get her and her kids major medical starting at $160 per month.

So my question to Mr. Gedwed is in Maryland what does Mega Life bring to the table for that lady and which plan would have to be sold to get her under $200 per month?

The plans I'd offer don't have caps on in or out-patient procedures and also include benefits for lab, chemo, therapy, etc...They certainly don't have per-occurance deductibles.

Although in some markets Mega Life might be competitive or even possibly a bargain there are many markets where Mega simply doesn't have much to offer. Maryland would be such an example. I'd love to sit down with Mr. Gedwed in my office one day and run quotes for all the carriers and compare them to Mega. I think "wow" would be the word he'd use.

I love the Lexus analogy. The truth is in Maryland it's Mega that has the Lexus prices IF you try to give the client maximum coverage and it's the other carriers who offer lower prices.

Anyone in doubt - and if you're a Mega agent - feel free to run your own rates:

http://aetna.com
http://www.goldenrulehealth.com
http://assuranthealth.com
http://carefirst.com
http://celtic-net.com

I'd link to the Mega rates and plan details but they're not available online. Sorry.

 

[Eric2000]

In regards to Mr Gedwed's salary, why is that relevant? Are you telling me the President and CEO of Aetna, BCBS,Cigna does not make that sort of money? It is up to the consumer to choose what they are purchasing and going by the number of Mega plans sold in Maryland, it looks like a large majority enjoy the rates/benefits they get through HealthMarkets.

 

[STIBROKER]

It is up to the consumer to choose what they are purchasing and going by the number of Mega plans sold in Maryland, it looks like a large majority enjoy the rates/benefits they get through HealthMarkets.

\


no it's up to the agent to educate a client.....and with all the green agents you go through and making them believe mega is the best plan and all the major co's are c r a p is not doing the consumer any good....your large majority is happy with the small claims you droll out to them.......its the ones with the major claims you are having problems with and after all....is that not why we buy health insurance and if I thought mega had the best deal on me I would have it on my own family....but you guys charge to much for you limited benefit plans.....

 

[Crabcake Johnny]

In regards to Mr Gedwed's salary, why is that relevant? Are you telling me the President and CEO of Aetna, BCBS,Cigna does not make that sort of money? It is up to the consumer to choose what they are purchasing and going by the number of Mega plans sold in Maryland, it looks like a large majority enjoy the rates/benefits they get through HealthMarkets.

And your source for Mega's market percentage is Maryland would be where? My source shows they have an incredibally small percentage of the market. But maybe the department of insurance is wrong. Who knows.

 

[Crabcake Johnny]

Mega's market share in Maryland as reported by the DOI:

Mega Life & Health Premiums written: $10,164,129
Market Share: .24%

Congrats. Mega has one quarter of one percent in Maryland. Yep, they're really banging it out.

Mega agents just don't have any clue. I remember when I was at UGA if division submitted AV was $500,000 for the week everyone went nuts. $500,000? There are health insurance brokerages in Marland that hit those numbers by noon on Monday.

 

[STIBROKER]

I by the number of Mega plans sold in Maryland, it looks like a large majority enjoy the rates/benefits they get through HealthMarkets.

heres one....

http://www.ripoffreport.com/reports/ripoff114803.htm

NASE - the National Association of Self Employed - is offering health insurance to small business owners which is completely bogus. I was assured by the salesman that I would be out of pocket for no more than $5,000 per year for medical expenses.

But after an emergency appendectomy, I find that they only include "covered expenses" Which basically means that I might, maybe, get as much as $5,000 for a $27,000 bill. It's been four months and I haven't seen a penny yet.

They insist on automatic debit of the premium and I can certainly see why. They want to keep taking.

Do not fall for this scam. Get yourself a reputable insurance company. NASE is cheating small business owners.

Frances
Odenton, Maryland
U.S.A.