Sell it to any individual/couple without small children, who are not on three or more medications.
It is my top selling product. What I sacrifice in commissions, I make up for in volume. I sell the $5k/$10K 100% plan all day long. Never touch the 80/20.
Very simple to understand: All doctor visits, hospital stays, and medication refills go towards satisfying this one number. Once that number is met, the insurance company pays everything else.
Most insurance agents don't like selling it, because you lose commission.
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512Mb MP3 Player. Back-lit blue display, FM Radio and built-in speaker or use the included HI Fi earphones to enjoy up to 8 hours of WMA (Windows Media Audio) or 4 hours of MP3 music. Can also be used as a digital voice recorder and as a 512 Mb USB drive for data storage. Black Assurant logo on body.
Here's the reason behind my questions. I was told, by Assurant, that the one deductible traditional does not use a network, no negotiated rates, if one wants a network you use one deductible PPO, is this how you understand the contract. I assumed, the plan used PHCS in Tenn, NO NETWORK.
The traditional plan is straight indemnity. No networks. Pays R&C. Providers are not limited on balance billing.
For zip 37203 you have a choice of PHCS or THC for networks (if you opt for the PPO One Deductible plan.
I have never understood why anyone would want a traditional plan. They pay more in premium. They pay more when they use the services. There are virtually no caps on their out of pocket.
You can probably find other carriers that offer non-network plans as well.
That is the only plan Time has that is worth selling. Only question is, is it competitive in your area. Some places it is, some not.
I'm at a loss here Bob between the aforementioned remarks and this comment
That is correct.
The traditional plan is straight indemnity. No networks. Pays R&C. Providers are not limited on balance billing.
For zip 37203 you have a choice of PHCS or THC for networks (if you opt for the PPO One Deductible plan.
I have never understood why anyone would want a traditional plan. They pay more in premium. They pay more when they use the services. There are virtually no caps on their out of pocket.
You can probably find other carriers that offer non-network plans as well.
It seems as though in one comment you endorse the indemnity plan and say it's the best and in the second comment you appear to be against the same plan. Can you or somebody else explain to me the reasoning behind buying an indemnity plan???
GR's standard plan is quite competitive in the states I sell in, however, their indemnity rates are though the roof.... With the exception of being restricted to specific doctors, which in my area, the One Net and PHCS pretty much sum up the market (Northern VA and MD at least). I cannot see the benefit in selling any of the traditional plans because of the balanced billing and higher expenses. Especially considering the size of the PHCS network and it's ties to other networks. Thoughts???
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"Tell me and I will forget. Show me and I will remember. Involve me and I will understand." Confucius
The One Deductible product is the only product Time has that (IMHO) is worth offering to clients. Ned did not make the distinction in the traditional & PPO product until later in the thread. At that point I mentioned the differences in the way claims are adjudicated which is the only difference in the two products.
The traditional plan was identified in the topic, it was specifically what I was referring to.
Bob the insurance guy, are you referring to the TRADITIONAL plan. If so, you might be under the same impression I had been, that it was a network plan. If you had the same impression, send me a PM, I am working with Assurant to redo all policies sold as traditional plans. I confess that I should have been more thorough with this, never would have sold this plan if I had understood there was no network, hope my E&O is ok.
No network and more expensive. There simply is no penalty for being out of network however clients will get balance billed into oblivion and no network re-pricing. I don't even know why it still exists.
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I have never bothered to quote anything other than One Deductible PPO, Core Med or Max. The rest of the plans are garbage.
I have never sold a Core Med and never plan on doing so. I have one Max on the books and wish I did not have that one.
With a 70% price differential (at least on a few plans I compared) I have no idea how you have managed to write the product. You must be a helluva salesman.
The 1 Ded PPO is moderately competitive in select situations in GA. The Traditional is out of sight.
Bob Ins Guy can speak for himself, but I doubt he is selling the Traditional plan either. Can't say I have ever quoted it.
Ditto - how did you manage to sell it? MD zip 21113 male 40, wife 40 two kids on One Deductible Traditional is $570 for a $5,700 deductible - $392 for a HSA PPO. I'm not sure I could have talked my clients into the extra $178 per month.
Unless I'm missing something, Assurant only sells network plans in CA... and the prices are so high I doubt they sell many of those.
Al
They sell the One Deductible traditional, no network, but in Johns example above, for the same family living in 94536 (California - Fremont or East side of the Bay), you pay $728.77 a month. I have no idea why you would even bother..... it's not in the ballpark.
Balance billing means the provider is free to bill the patient whatever they wish . . . and the patient is obligated to pay it.
In a PPO policy the providers have agreed to accept a pre-negotiated fee for their services. They are prohibited by contract from billing the patient for the difference in the negotiated rate and their "going" rate.
When you have a traditional indemnity policy (no network) the carriers follow R&C (reasonable & customary) which is almost always a higher reimbursement than negotiated rates. Thus the premium difference in a "traditional" policy and a PPO policy.
So the policyholder gets hosed 3 ways.
They pay more for the indemnity policy.
They pay more for services rendered.
There is no cap on what the providers can charge which makes out of pocket meaningless in these policies.
Assurant One deductible Traditional Plan
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