American National?

[natem2112]

Hi there,

I was wondering if any of you had any experience with American National for individual health insurance.

Supposedly they are coming out with a ultra-competitive HSA with in the next few months.

I've heard a few things about them, however not anything to base an opinion off of.

Let's hear what you guys have to say about them.

 

[James]

Been checking out ProducerWeb Site lately?

 

[natem2112]

Been checking out ProducerWeb Site lately?

Actaully no...why?


I's been almost a year since I've been on ProducerWeb......

 

[insurebob]

If someone is just coming out with a HSA plan, I would wait a good 12 months or so to see if they still are in the HSA business. That is why I don't sell Aetna, UHC (GR). These are two companies that are rock solid, but waited too long to get into the individual HSA business.

Ref: Long Term Care.

 

[Crabcake Johnny]

Not a fan of any company that doesn't show rates and plan details online.

 

[STIBROKER]

Texas Health Insurance


repost from the other side...

http://insurance-forums.com/topic.asp?TOPIC_ID=1933&SearchTerms=American,National

yea I sold them in the past(this was the one that help me make up my mind to stop selling ass. health plans if at all poss...).......but they ran into some prob's......

http://www.thedoveagency.com/WSJNASEArticle.pdf#search=%22Nonprofit%20Groups%20That%20Tout%20Insurance%20Have%20Hidden%20Links%22

"Stan Firebaugh, the owner of a national insurance agency in Dallas, says he took control of the
Health Through Exercise group in 1987. At around that time its name was changed to the National
Business Association. Mr. Firebaugh's insurance agency made a proposal to American National
Insurance Co. of Galveston, Texas, on how to put the National Business Association to use,
according to officials with the agency and the insurer. "The concept embodied in this proposal --
namely that of mass-marketing health insurance products via monthly bank authorizations to self-
employed individuals through a captive, nonprofit association -- is a successful, well-established
concept," the agency wrote. The NBA began endorsing American National as its insurer in 1989.
Mr. Firebaugh's agency receives commissions on policy sales and a share of association dues.
He denies any involvement with the proposal to American National and says the National
Business Association is completely independent. The association "was never set up to sell strictly
health insurance," he says.
For a decade, Patrick Archibald served as president or a board member of the National Business
Association and manager of Mr. Firebaugh's insurance agency. In effect, he was touting his
agency's product to his association's members. He left the insurance agency in 1998 but stayed on
at the association until April 2001. Mr. Archibald could not be reached.
"The association was portrayed as independent," says Betty Wendland, 61, a retired saleswoman
who joined the NBA and bought its insurance in 1999. "You joined this group and then you buy
this insurance. I never assumed they were one and the same." Mrs. Wendland's rates went up 61%
over the course of eight months before she found a new policy from a different insurer last year.
"At my age, it isn't easy to get insurance," she says.
Mrs. Wendland and some other policyholders learned about the cozy relationship from an agent
after American National cut benefits and raised premiums in 1999.
She and others filed a class-action suit in 2000 in state court in Austin, Texas, claiming that the
NBA, Mr. Firebaugh's agency and American National had marketed insurance "through a sham
organization." The suit alleges that more than 60,000 customers were defrauded and that the NBA
"exists primarily for the purpose of selling health insurance and making profits."
William Watson, American National's chief health actuary, said in a deposition last year that it
didn't concern him that Mr. Archibald was running the association and the insurance agency.
American National declined to comment because the litigation is pending. The defendants,
including Mr. Archibald and Mr. Firebaugh, have denied the allegations in the suit."

 

[natem2112]

repost from the other side...

http://insurance-forums.com/topic.asp?TOPIC_ID=1933&SearchTerms=American,National

yea I sold them in the past(this was the one that help me make up my mind to stop selling ass. health plans if at all poss...).......but they ran into some prob's......

http://www.thedoveagency.com/WSJNAS...Groups That Tout Insurance Have Hidden Links"

"Stan Firebaugh, the owner of a national insurance agency in Dallas, says he took control of the
Health Through Exercise group in 1987. At around that time its name was changed to the National
Business Association. Mr. Firebaugh's insurance agency made a proposal to American National
Insurance Co. of Galveston, Texas, on how to put the National Business Association to use,
according to officials with the agency and the insurer. "The concept embodied in this proposal --
namely that of mass-marketing health insurance products via monthly bank authorizations to self-
employed individuals through a captive, nonprofit association -- is a successful, well-established
concept," the agency wrote. The NBA began endorsing American National as its insurer in 1989.
Mr. Firebaugh's agency receives commissions on policy sales and a share of association dues.
He denies any involvement with the proposal to American National and says the National
Business Association is completely independent. The association "was never set up to sell strictly
health insurance," he says.
For a decade, Patrick Archibald served as president or a board member of the National Business
Association and manager of Mr. Firebaugh's insurance agency. In effect, he was touting his
agency's product to his association's members. He left the insurance agency in 1998 but stayed on
at the association until April 2001. Mr. Archibald could not be reached.
"The association was portrayed as independent," says Betty Wendland, 61, a retired saleswoman
who joined the NBA and bought its insurance in 1999. "You joined this group and then you buy
this insurance. I never assumed they were one and the same." Mrs. Wendland's rates went up 61%
over the course of eight months before she found a new policy from a different insurer last year.
"At my age, it isn't easy to get insurance," she says.
Mrs. Wendland and some other policyholders learned about the cozy relationship from an agent
after American National cut benefits and raised premiums in 1999.
She and others filed a class-action suit in 2000 in state court in Austin, Texas, claiming that the
NBA, Mr. Firebaugh's agency and American National had marketed insurance "through a sham
organization." The suit alleges that more than 60,000 customers were defrauded and that the NBA
"exists primarily for the purpose of selling health insurance and making profits."
William Watson, American National's chief health actuary, said in a deposition last year that it
didn't concern him that Mr. Archibald was running the association and the insurance agency.
American National declined to comment because the litigation is pending. The defendants,
including Mr. Archibald and Mr. Firebaugh, have denied the allegations in the suit."

Well, that about answers it for now.

Thanks Guys, it's great to ask a question like that and get the exact info you need to at least begin making a decision.

 

[arnguy]

Insurebob mentioned that he would not write an HSA with Assurant and GR(UHC) because they came into the HSA business late. I believe that GR has been in the individual HSA business from the get-go, and previously they were pushing MSA (the precursor to HSA).

Also, on the topic of HSA's, I would like to hear some comments about them----both individual and group. Just this past Monday, the Wall Street Journal had a lengthy article on the problems that employers are having with group HSA's. Just today, the Philadelphia Inquirer, had an article in their Business Section by a staff writer that pretty much reiterated the problems mentioned in the WSJ article. In the same Inquirer article it mentions that Wal_Mart will offer new hires next year low-premium plans with high deductible.

 

[Crabcake Johnny]

Assurant Health sold the 1st HSA in the country to Pam Wimbish at 12:01am when HSAs became eligible to be sold. And everyone's been chasing Assurant every since.

http://www.dpath.com/articles/ART_1stPersonHSA_May.htm


http://www.rsdgreg.com/pdfs/new pdf 8-31-04/Pam Wimbash-HSA story.pdf

 

[arnguy]

Thanks Johnpet. I wasn't sure about Assurance being in there early, but I did know that GR was there. I didn't understand why Insurebob said that he wouldn't write their HSA's because those two carriers were late getting into that segment of the health insurance business.

I am going to try to download the WSJ article possibly tomorrow.