Anybody have experience with Reserve National products?

[arnguy]

OMG I though the owner is good friends with Michael Rodent! Same guy, huh?

 

[thall]

Have run across them before, like everything else there's a place for everything that is sold out there. I think people in most situations would be better off with a discount plan rather than this kind of junk insurance.

 

[incis]

davidleekline...dude American Community???your kidding right.

Yes RN has very, very limited benefit products....where they confuse the client is that they say it pays up to 100k so the client thinks they are covered for like a 100k heart attack.....ya 100k in very limited incriments....like let's say the product pays up to $8000 for some surgery....well it will take a lot of $8000 surgerys to meet 100k...the reality is no one will ever meet the 100k so it can be real misleading to the average person.

 

[raven585]

incis,

I came on here to check what people thought about insurance plans of all kinds. I am an agent and actually had Reserve National for 8 years. Two years ago, I was diagnosed with Hodgkins Disease. My hospital bills were enormous. Just the hospital alone was 90k. My surgery itself and chemo was over 7500 dollars. All in all I paid OOP close to 9000. My final total of bills tallied upwards of 130k. The reason I went with Reserve National is because a friend works for them, and made sure I had the right coverage.

When you get on this website and say they have very very limited benefit products, you dont tell the whole story. They have a lot of plans that are 80% only, and can be limited in certain areas, but thats what people can afford. If I would have been able to afford a BCBS or Anthem plan I would have. My OOP was a little bit higher than I bargained for but for the price I paid I could say it was better than what I expected. When you say 100k in very limited increments, thats not true. The 100k is Miscellaneous Benefit at 80% per hospital stay. The surgeon benefit I had paid 100% in that area. I also had an indemnity plan that paid me 1500 a day while hospitalized. Most of the agents with RN would definately add on coverage to be as good or better than a BCBS plan out there as long as the budget dictated they could do that because obviously that makes it better for the client and better for their commission. That $8000 surgery scenario is false...that is the actual SURGEON benefit, not the benefit for the whole surgery. The surgeon benefit I had paid 100% to the surgeon, facility, up to 15,000. The miscellaneous area was 80% as well as the schedule for doctors, etc etc.

I sound like Im making an ad for RN, but I couldnt stand sitting here reading those things when they simply arent true. Now I have insurance with my wifes company, and unfortunately were at the end of COBRA, but we get the HCTC credit. In February I may have to get on the State ICHIAA.

Now I deal with mainly P&C, and Annuities. I was really thinking of selling Medicare so I could branch out a bit more, and it really looks as though that market will get better once MA is getting cut out. In four of five states quite a few companies are already folding up.

 

[thall]

raven585, I think the biggest problem agents have with these types of policies they are targeted toward the less educated, less informed. Most are under the impression that they have major medical until they get sick.

 

[incis]

raven, on the one hand you say that you could not afford a bxbs plan and on the other you say that RN agents would make the coverage good or better than a bxbs plan....on RN website they have no major med products and I have sold in the midwest in several states for several years and I have never seen anything like what you are talking about.....

I would like to see the policy/brochure on that product....I had a guy recently who had RN and I took him to a good major med...the RN guy went back and replaced my major med with a basic hospital plan and made it sould like it was the same thing only cheaper.....I have run into that kind of character from RN reps for years. If what you say is true (which I doubt) it is by far the exception.

 

[raven585]

incis,

I dont want to go back and forth here. I made a pretty lengthy post stating a lot of what I didnt like about what I was seeing posted about certain insurance plans. With all due respect, I have never met you and I dont want to start a war here on these forums. With that said, when I originally decided to go with RN I had looked at some Anthem plans, and Golden Rule plans and wanted to do some comparisons. The friend of mine that works for RN and has for some 20 years gave me some really good information about either choice. RN WAS cheaper, and did what I wanted it to do for a pretty good price. Limited benefit plans that offer options for outpatient, and options for different areas of coverage arent considered major medical, however most states consider a full optioned plan like this with the right amount of coverage actually major medical in benefit. Just because you havent seen a plan like what I mentioned doesnt mean it isnt around. EVERY insurance company has limits on their payout of claims, EVERY insurance company. Every time I would talk to that RN agent, he would tell me so many stories of helping someone out who had huge rate increases with ABC company and now they could save some money, still keep their main coverage, and sometimes add on some things they didnt have before. Sometimes, they couldnt help someone. In either case, he was doing a great service to his client.

What I cant stand is to be out in the field doing what I do and hear an agent that bashes another policy or company, OR completely lies to a client just to earn their business. I can tell you that RN agents are very stand up people. They dont sell fraudulently, or mislead anyone. You can research that in every state. I did before I bought.

Another thing that bothers me is to hear about brokers who sell a policy because the commission is great...and as soon as their commission gets cut in half, they start selling a different plan and tell all their clients how good this new one is.....guess what, its SALES! If a company is doing a good job and dont have BBB hits, or other Insurance Department problems etc etc, then let it be competition. What I HAVE seen is some VERY bad health plans out there such as United American, Mega Life, Midwest National, Assurant, and a few others that the agents have told the client that this is a great policy, or its major medical, etc etc, only to find out that they had 20k max on hospital care and no coverage on emergency treatment and VERY limited coverage in most areas. That is a problem and I agree with that. But you tell me, is a 250,000 80% plan, with 1500 a day hospital indemnity coverage a piece of garbage? I didnt think so, and neither did the hospital that received the payout.

 

[thall]

raven585, It is what it is. I'm glad that you had a good experience with Reserve, I'm glad your friend took care of you. O course there are a lot of things that go on out there that are questionable. At the end of the day as long as your customers know what an indemnity policy is, it is not a major medical policy.

 

[magagent]

I know what you are referring to, it is called their "Policy Saver one". It might not be garbage, but it is certainly not a major medical.

I have ran across, numerous RN agents in numerous states peedling this as major medical, when on the bottom of the application is says this is not "Major Medical Health Coverage.

 

[lajoga]

I see a lot of very uneducated comments on here that are seemingly posted by folks that have no clue what they are speaking of......I experience with a lot of different companies,,like the blues and the principles that are destroying budgets with high deductibles,,,rates that increase nearly 30 percent yearly and claim everything is pre-existing when claims come in..... myself,,,and several others including small companies I know,,,have had great experience with RNI,,,,,. Make sure you know your policy and your agent...Not an 800 number you never get to speak to anyone that knows any answers...