Health Insurance For College Students

halis · 11-25-2008, 08:00 PM

Okay, so I am a P&C agent in Missouri (St. Louis) and I have only written a little bit of individual health. I am appointed with Assurant and Golden Rule and I need to quote a friend of mine who is in Grad School.

He works part-time, lives in Kansas City, but doesn't have a lot of money and right now he doesn't have any health insurance at all.

He is 25 years old, single, smokes, drinks occassionally, but he has never had any health problems, hasn't been to the doctor in years. Good height weight ratio.

I think he mentioned that he could get coverage through the school somehow but it was very expensive.

What is a good plan through one of the carriers mentioned that will cover him the best if something catastrophic were to happen, that is also affordable?

somarco · 11-25-2008, 08:15 PM

Golden Rule Plan 100

halis · 11-25-2008, 08:48 PM

Thank you sir.

halis · 12-03-2008, 06:43 AM

Somarco I have another one for you. My fiance's father works for Chrysler. He might be transferring as his plant got shutdown. If he doesn't transfer though, he may end up needing coverage. Out of GR and Assurant where should I put him and what plan?

He is in his 50's, non-smoker, light drinker, maybe 5'8" 220, only medication is anti-depressants. His wife is covered under him right now as well.

What would they be best off doing if he had to get individual health insurance? I'm sure he is used to a plan that covers everything under the sun that is paid for right out of his paycheck, so he will want something that feels like he is paying for similar coverage.

somarco · 12-03-2008, 07:30 AM

I don't have my build tables in front of me, so he may be rated by some carriers based on BMI. Figure anywhere from +10% to +25%.

Add another 20% or so for meds.

This pretty much makes any low deductible, copay plan ridiculously priced for the benefit. A HDHP (HSA compatible) makes more sense if you know how to show the value.

That being said, I think Time has a $0 deductible plan with copays. So does Aetna.

The Aetna plan has a so-so price but the OOP on a major claim will hurt your pocket.

Golden Rule's Copay Select is a great plan but pricey. He will be a std rate (assuming his build doesn't exceed their limit) and no coverage for anti-depressants.

mkortz · 12-04-2008, 11:28 AM

Originally Posted by halis

Okay, so I am a P&C agent in Missouri (St. Louis) and I have only written a little bit of individual health. I am appointed with Assurant and Golden Rule and I need to quote a friend of mine who is in Grad School.

He works part-time, lives in Kansas City, but doesn't have a lot of money and right now he doesn't have any health insurance at all.

He is 25 years old, single, smokes, drinks occassionally, but he has never had any health problems, hasn't been to the doctor in years. Good height weight ratio.

I think he mentioned that he could get coverage through the school somehow but it was very expensive.

What is a good plan through one of the carriers mentioned that will cover him the best if something catastrophic were to happen, that is also affordable?

Can you get appointed with Blue Cross (Anthem)? They have a product geared for that type of person. It's called Tonik. You can get a quote on any of the health insurance websites.

somarco · 12-04-2008, 04:20 PM

Tonik sucks.

agent4sail · 12-04-2008, 07:45 PM

Originally Posted by somarco

Tonik sucks.

I was looking at the Tonik plan for my daughter in law, a college student, as an alternative to the added cost of being added to my sons group. Why does Tonik suck?

somarco · 12-04-2008, 08:12 PM

Overpriced, at least in my area. Rx has a $2k deductible. Usually better alternatives with other carriers.

The product has been out about 3 years now. Beginning to get some whiskers on it. Renewals are out of sight.

Getting her off the group plan probably makes sense, but I would look at something other than Tonik.

halis · 12-05-2008, 07:48 AM

I was filling out the appointment app for BCBS and they require $35,000 in annual premium to keep the contract in MO, so I trashed it. I was focusing on P&C and didn't think I would write much health.

I've heard that all they like to do is steal your whole book anyway, so why even bother with them?

mkortz · 12-05-2008, 10:54 AM

Originally Posted by halis

I was filling out the appointment app for BCBS and they require $35,000 in annual premium to keep the contract in MO, so I trashed it. I was focusing on P&C and didn't think I would write much health.

I've heard that all they like to do is steal your whole book anyway, so why even bother with them?

That's pretty brutal. In CA, I'm pretty sure they want a minimum number of new lives each year.

They seem pretty lax on it though. I didn't sell any new plans for three years and kept getting renewals.

somarco · 12-05-2008, 10:57 AM

GA tried to impose production requirements in an attempt to rid themselves of 70% of their brokers.

As far as I know, they never carried through on the threat.

I never cared for them as a carrier and they still don't give me a good reason to promote them. They are in trouble in a number of states on their individual & small group business. Can't imagine how long that will continue.

michaelsavannah · 12-09-2008, 10:25 PM

For this client profile, I would advise he take a higher deductible/coinsurance plan. Assurant's CoreMed with no office visit copay will give lower premium since he doesn't frequent the doctors often.

somarco · 12-10-2008, 06:59 AM

Have you read the Rx provisions in Core Med? Might as well not have an Rx benefit.

djs · 12-10-2008, 11:09 AM

Originally Posted by somarco

Overpriced, at least in my area. Rx has a $2k deductible. Usually better alternatives with other carriers.

The product has been out about 3 years now. Beginning to get some whiskers on it. Renewals are out of sight.

Getting her off the group plan probably makes sense, but I would look at something other than Tonik.

Hmm, must be different in different places. It's not the best product out there, but it is very simple, straightforward, and has first dollar benefits. Go the the doctor, pay $40. People who buy Tonik like that. Generic prescriptions are covered.

Okay, you get screwed as soon as you need an xray or lab work, but hey, that is what it is.

I don't push Tonik, don't sell much, but it definitely has a fit for some individuals.

Dan

agentonfire · 12-10-2008, 07:57 PM

I have noticed the same for Tonik, it is catered for certain individuals!