Indiana Marketplace Rates 2016

[jemelton]

Any fellow Indiana agents out there? From the estimators or rates on Hc.gov it appears like the "non insurance companies" are beating the pants off of traditional companies like Anthem and UHC on price (and it's not even close). What now? It seems as if we will be able to write significantly less business due to drastic rate increases.

The "insurance companies" have much better networks in some cases but are 30-50% more in price.

 

[Yagents]

Happening in many states. Just got to hold on tight until the market washes the rest of them out. "Unsustainable pricing" is what Anthem CEO said

http://www.modernhealthcare.com/art...ntent=20151028-NEWS-151029890&utm_campaign=am

 

[RayNY]

They're unsustainably priced with projected losses, and are counting on reinsurance/risk corridor/etc to make them whole.

The safety net goes away after 2016, so expect 2017 rates to be a better representation of risk and network.

 

[jemelton]

So do insurance companies such as Anthem UHC not have those benefits as these new pop up health plan issuers??

 

[mwoodbrid]

So do insurance companies such as Anthem UHC not have those benefits as these new pop up health plan issuers??

They do, they just plan on living longer than a year.

 

[RayNY]

They do, they just plan on living longer than a year.

Don't forget: they also have grandfathered plans, viable and long-term experience, and stakeholders/investors to report to that won't allow such a risky tactic.

 

[jemelton]

Still makes it difficult when plans are 300-500 more. I understand long term the "insurance companies" are the most fiscially responsible but by the time all these new players are gone comm maybe non existent for the broker.

I also have a hard time recommending a plan that I am not contracted with. If it's really the only choice based on budget I was thinking of charging a fee since I am not making a commission.

 

[Yagents]

I also have a hard time recommending a plan that I am not contracted with. If it's really the only choice based on budget I was thinking of charging a fee since I am not making a commission.

Your state determines whether you are allowed to charge a fee. FL for example does not, and when I spoke to the FL DOI, they said it's up to CMS rules, which are non existent, except all the messaging about scams charging prospects a fee to sign up for O'care.