Trustmark and Starmark Are Exiting the Fully Insured Market

[Sam]

I just heard that due to MLR and other ACA restrictions, Trustmark and Starmark are fully exiting the fully insured group market. Effective immediately, they will not be quoting any new groups and they will give out renewals through 12-1 and then shut it down.

If groups renew 12/1, they can keep their plans for one year.

This will not impact their partially self-funded business.

 

[houcoogster]

I just heard that due to MLR and other ACA restrictions, Trustmark and Starmark are fully exiting the fully insured group market. Effective immediately, they will not be quoting any new groups and they will give out renewals through 12-1 and then shut it down.

If groups renew 12/1, they can keep their plans for one year.

This will not impact their partially self-funded business.

I can't believe these capitalist pigs!
If they can't make money on it they are out of it. That's very selfish of them.

 

[Post Quartermaster]

This will not impact their partially self-funded business.

They are writing a ton of new self funded business from what I am seeing and hearing....

 

[stuy119]

Good thing the law increased competition, as predicted.

 

[ABC]

They were never really competitive in the small group market in my city. There was a couple of years the competed.

I have looked at their partially self funded product and it has merit.

I just don't know if groups under 20 will want to continue to do business the same way with underwriting. These plans have the underwriting factor to them.

Do you have a link on the article?

 

[Post Quartermaster]

They were never really competitive in the small group market in my city. There was a couple of years the competed.

I have looked at their partially self funded product and it has merit.

I just don't know if groups under 20 will want to continue to do business the same way with underwriting. These plans have the underwriting factor to them.

Do you have a link on the article?

In situations where the self funded products fit, they make alot of sense....especially young and healthy groups.


Tax savings, potential premium savings, plan flexibility and some operational advantages.


All of my traditional carriers are going to 3:1 age banding on small group - in the past, most carriers here composite rated around 12-14 ee's. Lack of composite rates is a small HR headache for medium sized groups. Also, one of our main carriers has filed 5, yes, FIVE metal plans for small group - in the past we have had at least 25+ plans per carrier. We may not have 25 different plans across all of our 5 main fully insured carriers in 2014 - that just sucks. Hard to get business if you cannot show something "different".....