I decided to take a critical look at AIM's website. Here is what I see.
"The nations leading guaranteed issue health plans" - According to what standards and who bestows this platitude?
HIPAA compliant - Says who?
the industry’s best guaranteed issue limited medical plan - Limited medical plans are not creditable coverage
fully insured by AM Best Companies - Fully insured . . . I have yet to find a state where this fully insured plan is filed with the DOI.
Anyone bother clicking the link to see who awards that seal? Here is where it goes. This would seem to imply the DOL sanctions these plans. I doubt it . . .
Our medical plans are low-cost alternative (Limited Medical), providing medical insurance at fixed amounts, and these limited benefits are paired with medical discount to designated providers. The Limited Benefit Medical Plan offered thru AIM is a group insurance program. - Limited benefit group plan. So which states have approved this group plan for issuance?
The AIM/AMLI plans: Silver, Gold, Diamond & Health-Max Plus are HIPAA compliant. Persons who leave the plan will receive a HIPAA Certificate of Credible Coverage. Those who enter the plan presenting a Certificate of Credible Coverage will receive credit toward this plan's preexisting conditions limitation. - Is credible coverage anything like creditable coverage. Is this just a clerical error or intentional in an attempt to avoid liability?
So, what are the options for someone who is uninsurable (diabetic, on pain medication, etc, etc) with no access to a group plan. Agreed that AIM is probably a junk policy, and from what I hear have gone down hill in service...to boot. I wrestle with the idea ( read "my conscience") to offer this type policy to someone who cannot get another policy, particularly if they have no other options available. Is getting some indemnity policy better than nothing at all? And if it's a legit company with hospitalization coverage/Dr. visits/lab work, etc. would it not be better to having some coverage than not? The failings with AIM and others like it are no max OOP protection (deal killer in my mind). The other major failing is the limited Rx coverage--which is OK if you can buy generics--but does not cover cutting edge biologicals or brand-name select drugs, i.e Remicade, Avastin, Ervitux and many others. These drugs run into the $50K-$100K annual costs, and unless they can get a major med, will not be able to afford those drugs.
So back to choices.. If someone knows of a good policy outside this "junk" field, could you share who/what it is? And if there is a better alternative than this type...what?
I would be willing to sign on as a sub-agent for a good program. Thanks
Alph-red-o
So, what are the options for someone who is uninsurable (diabetic, on pain medication, etc, etc) with no access to a group plan. Agreed that AIM is probably a junk policy, and from what I hear have gone down hill in service...to boot. I wrestle with the idea ( read "my conscience") to offer this type policy to someone who cannot get another policy, particularly if they have no other options available. Is getting some indemnity policy better than nothing at all? And if it's a legit company with hospitalization coverage/Dr. visits/lab work, etc. would it not be better to having some coverage than not? The failings with AIM and others like it are no max OOP protection (deal killer in my mind). The other major failing is the limited Rx coverage--which is OK if you can buy generics--but does not cover cutting edge biologicals or brand-name select drugs, i.e Remicade, Avastin, Ervitux and many others. These drugs run into the $50K-$100K annual costs, and unless they can get a major med, will not be able to afford those drugs.
So back to choices.. If someone knows of a good policy outside this "junk" field, could you share who/what it is? And if there is a better alternative than this type...what?
I would be willing to sign on as a sub-agent for a good program. Thanks
Alph-red-o
AIM is actually no longer taking applications. Which isn't necessarily a bad thing.
Depending on state - there may be risk pool options available to them. Otherwise, Teamcorp, Homeland, Defined Solutions, etc. are still available - and while not as comprehensive as AIM - they're still in business. (Probably because their plans weren't irresponsibly put together / priced)
I would assume since the NY state lawsuit with AMLI. With AMLI being their underwriter, I can only imagine all GI products with them are being put on hold. Just my opinion ( and from what I heard from our carrier ).
With a relatively short time in this biz, since '03 I have not seen a single GI product similar to AIM last. Even ICan's GI plan went under and they had millions of capital and posted prime-time TV ads with Billy Mays.
Since '03 I have been pitched no less than 6 different GI plans - every one except AIM is defunct and now it appears AIM "might" be going down.
I do not write any of these limited plans due to legal exposure. If you wish to write 'em fine.
Sometimes it is what it is. What to do with with someone who's uninsurable with no options? The ugly truth? Get a job or nothing.
What do you do with someone who needs to find a place to live but has trashed credit and no job? Nothing. Live with friends or relatives. You can't help everyone.
------------------------------------ Health Insurance Agents: Training, Support, Discounts, E&O for $440 www.ihiaa.com
I know im knew guys but i thought i would offer my input since i ran a call center selling health insurance over the phone for years. IRG the third part admin for AIM is having trouble paying the claims. The website looks nice and its easy to sell. Hey 100 percent of RBVS Surgery covered, who wouldnt. But there are a lot of fishy things going with that company and your license is not worth losing over it, trust me. You are probably better off selling AIG, which i know has a horrible reputation right now, but they will probably be around for a while.
AIM had a stench coming off it from the very first. A bit surprised they lasted this long.
I wouldn't want to be an agent right now that sold that product. Once the AG's get involved, and they will since the DOI really doesn't have any teeth, all hell will break loose.
I do not write any of these limited plans due to legal exposure. If you wish to write 'em fine.
Sometimes it is what it is. What to do with with someone who's uninsurable with no options? The ugly truth? Get a job or nothing.
What do you do with someone who needs to find a place to live but has trashed credit and no job? Nothing. Live with friends or relatives. You can't help everyone.
To tie a bow on this thread...not forever, but for now at least...consensus from highly ethical, caring agents that want to help people out is not to sell them. If so, it's great to finally know (hear my sigh of relieffffffffffffff....).. now I can go back to selling real insurance.
Alph-red-o
Yep we were naive in the beggining to sell AIM but now i see what they are up too.....its smoke and mirrors
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The creditable coverage aspect is bogus too....had clients on AIM for years and when it came to be fully underwritten with adding surcharges and rate ups up front ...they were still denied on Major Medical even with creditable coverage for more than 18 or 36 months
Last edited by fina : 10-30-2009 at 08:59 PM.
Reason: Posts merged
I was weary of the AIM health plans. I emailed my state insurance department and asked if it was OK to sell these plans. They told me that it was (I have it in writing).
I have enrolled 2 applicants in the AIM health plan within the last week, so I'm confused when you say they are no longer accepting applicants. Maybe just not in your state??
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I just logged on the my AIM back office website. They have a new plan administrator, IIM, inc. They have also changed the insurance company that underwrites the plan since I started selling their policies a few months ago. I'm revisiting my decision to sell this product.
The DOI is not the one to come looking for you when this thing blows up (if it hasn't already). It is the AG.
So who is this new TPA and what kind of ties do they have to the old one? And who is the new carrier?
Since I have been aware of AIM, and that is close to 3 years now, they have had no less than 4 carriers fronting the thing which makes my radar go off. I have never seen anything to support some of the claims they make, such as "creditable coverage". When asked point blank their response has been "no one has ever questioned it".
Do you have letters from carriers or the DOL saying the product is creditable coverage?
Nope.
OK, so how about providing letters of documentation from the states where the product is filed to PROVE it is approved on those states?
Nada.
I am not a fan of limited benefit plans, but if I were to ask Time for proof their Health Access product is approved in my state do you think I could get it?
Of course they, nor any other limited benefit plan, make the claim they offer creditable coverage. Wonder why?
If there are 20 hookers on the street and 19 admit to being a hooker while the 20th says that they have never been arrested, does that mean the 20th is not a hooker?
AIM Guaranteed Issue Website
Anyone bother clicking the link to see who awards that seal? 
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