Anyone Heard of USHealth Advisors?

[SingingSabre]

I just read through this entire ridiculous post. If you don't work for USHealth you have no frame of reference to debate their products. They do offer fixed indemnity guaranteed issue fixed benefit products. Why? Because people with pre-existing conditions who are ineligible for major medical coverage need as much coverage as they can afford. Considering that Obamacare has suspended PCIP both on the state and federal level, choosing a plan with built in ancillary products like accident coverage and critical illness coverage is a better option than one without.

For those of you hating on consumers choosing USHealth's comprehensive plan with a 3 year rate lock in lieu of a major med plan, I'll ask you this. How many major med plans will allow you to build in critical illness coverage, supplemental accident coverage, hospital confinement coverage, disability coverage, life insurance, dental in a plan that offers any kind of rate guarantee? The answer is none. How do I know? I know because I was a broker for years and was very successful. I came to USHealth because I recognized the climate of this business is changing. The commissions dwindled to nothing, and the one size fits all plans offered by major meds carriers don't meet the needs of consumers and the best major med option, an HSA, is going to fall through the cracks of Obamacare based on all we know.

For you brokers who reference 1/1/2014, you all should do some research on your exchanges. First off, there is still no clear explanation of all that has to be covered with a compliant plan. However, we do know two things. We know that the IRS has released a press release explaining that for a family of 5 the premium is expected to be $20,000 a year at the lowest, bronze, level of coverage. Humana is already quoting some compliant plans in TX. For a family of 4 the premium range is $1400-4000/mo. We also know that the architects of this bill have made everyone associated with it exempt from the coverage.

The issues that cause forums and threads like these are that people from different sales backgrounds come to USHealth thinking that they can sell anything, and they cram to get licensed but have no understanding or experience working with health insurance. They also underestimate the importance of that experience. That doesn't mean that the coverage isn't great, it means that the products are being misrepresented by some and people are sometimes being sold fixed indemnity plans because it is all the can qualify for or afford. The same scenario happens in the major med brokerage world everyday. Agents getting the sell and not explaining the coverage to the client. It's funny to listen to people hate on USHealth who have no idea what they're talking about and taking the position that a major med policy is always the best option.

If you don't think that carrying comprehensive coverage that covers you just as a major med plan does all the while limiting your financial liability by building in ancillaries into one plan, and stabilizing your premium for 3 years at time; just wait until 1/1/2014. What good is the greatest coverage if you can't afford the premium. That penalty is going to be a drop in the bucket compared to the savings on premiums alone. Wake up.

Here's the issue.

US Health Advisors seems to offer only indemnity plans and they have absolutely no easily accessible information on what their plans actually entail. The majority of us, on this forum, are insurance agents, and thus have our clients' best interests in mind when learning about new things.

When a company comes along and says "we're not subject to ACA mandates or regulation" and touts indemnity only products, we see them as another supplemental company (Aflac, Unum, Colonial, etc.).

So, unless you can direct us to current information, we're going to continue to be highly skeptical of anything you say.

 

[pcbinsurance]

I doubt he's still selling that or even in the business.

I would like to know how current US Health guys/gals are doing these days, so I'm curiously happy you revived this thread.

 

[Yagents]

so I'm curiously happy you revived this thread

Me too, especially now that Assurant is cancelling their indemnity product

 

[rugerred]

Me too, especially now that Assurant is cancelling their indemnity product

Have you seen anything from assurant? I know several agents still selling that product. I am contracted with them and sold some mm but haven't seen any notice of them shuting down Access.

Sent from my Samsung Galaxy

 

[kgmom219]

Me too, especially now that Assurant is cancelling their indemnity product

I met with one yesterday (he needs someone to send his T65's to) and it was pretty interesting.

They sell this weird indemnity product, that isn't ACA compliant. Requires underwriting. Then they try and move them to a plan that has EHB after 6 months. "But you can always switch back". Its crap. NASE still sucks. They just change their name every few years and hope people forget who they are.

 

[SingingSabre]

I sat down with one of these agents Monday this week and have a good bit to share. Much of my issue was with the agent himself, but the company seemed shady as heck as well. Plus, since agents tend to be a reflection of the company, I think it's more than fair to say that what he said, insurance wise, is probably condoned.

The guy I met with said "they got into business because of Obamacare"; that people were being taken for a ride from insurance companies for years and that "USHealth Advisors (USHA hereon out) saw where things were headed and innovated new products to help protect people."

He ranted about how ACA compliant plans pay for abortions (factually incorrect), can't deny insurance for preexisting conditions, and that people would still be paying $10,000+ for their medical coverage.

As has already been covered in this thread, USHA offers indemnity benefits rather than true insurance. For the uninitiated, that means they will pay out a set amount per procedure, sickness, or injury. They offer discounts within their network of doctors and providers with less of a discount outside their network, just like a standard PPO.

The trick is that once you get their price sheet and see $10/generic drug and other prices laid out, you start thinking that is what you'll owe toward those services. It's actually what they'll pay out for those services. He had a lot of receipts where people went to the hospital and ended up getting money back after USHA paid their bills and sent them the difference (if the bills come out to less than what the indemnity payout is, you get that difference). These bills, though, were all from 2011. I think we know how much things have changed since then.

He couldn't tell me how often they adjust for inflation or other cost changes with the state offices, where they file what they'll pay out to customers.

There are a number of things that aren't covered:
Birth control -- ever
Preexisting conditions for the first 12 months
Wellness/preventative care visits for the first 6 months
Prescriptions aren't covered, you just get $10 back if you sign up for that option.
There are a ton of other things they won't cover, but it's not listed in their online brochure.

In order to get that brochure, you have to sign up and become a member of their "association" (seriously).

There is no out of pocket maximum for a consumer. Consumers will still pay the ACA penalty, but the agent I spoke with suggested lying to the IRS about your insurance status at the end of the year. Yes, he suggested fraud. When I pointed out what he just told me, he said "Of course I would never suggest that!". Right.

They say that if you sign up for the lowest cost and lowest benefit plan and something happens, within 90 days after that something happening, you can upgrade to a higher level plan and have slightly more coverage. That would raise the maximum of what they'll pay out for you that year from $100,000 to $250,000.

The amounts they pay out for cancer treatments, accident recovery, and AD&D are considerably less in volume and considerably more restrictive than what Aflac, Colonial, or even Unum provide.

Honestly, people would be better off with a bronze level ACA plan, getting a CI rider on their life, and a midrange Aflac cancer and accident policy if they wanted all the bells and whistles of these plans.

EDIT: I almost forgot to mention, when I asked him what their AM Best rating was, he said they were ineligible for one. In truth, it's B-.

 

[AllenChicago]

If these plans are sold to individuals after 12/31/2014 who DO NOT have an in-force ACA-Compliant major medical plan, the company and agents will face U.S. Government fines and penalties.

I'm sure the USHA agents aren't sharing this with their prospects. For that matter, the USHealth/FreedomLife company probably hasn't informed the agents. They'll rake in all the premiums they can and then shut-down at the end of this year. With a B- rating, the company is already on a slippery slope at the edge of the abyss.
ac

 

[SingingSabre]

If these plans are sold to individuals after 12/31/2014 who DO NOT have an in-force ACA-Compliant major medical plan, the company and agents will face U.S. Government fines and penalties.

I'm sure the USHA agents aren't sharing this with their prospects. For that matter, the USHealth/FreedomLife company probably hasn't informed the agents. They'll rake in all the premiums they can and then shut-down at the end of this year. With a B- rating, the company is already on a slippery slope at the edge of the abyss.
ac

Out of curiosity, which part of the law penalizes agents and the company for selling non ACA compliant programs?

It's an indemnity policy, so I see it falling under the supplemental category, which is excluded from penalties and has fewer regulations.

 

[Yagents]

These plans can only be sold to someone with MEC coverage that complies with law. Agent must ask, but not required to verify, AND CARRIER MUST disclose in 199 point font

 

[KennyWest]

As an FYI.. the 12/31/2014 date is not the date applicable. The rules are based on when the plans RENEW, which for most is annually and thus a plan with an effective date for example of 12/01/2014 would not be applicable to it until it renewed a year later. Insurance companies are smart though, already seeing some which simply are doing away with the "renewal" aspect and leaving open ended. Limited benefit plans do have a purpose, two of which are those where they are outside open enrollment and the better plans are better than nothing (speaking of ones underwritten by good carriers, low premiums and where pre-ex only applies to HSA <hospital, surgery, anesthesia) and secondly as supplements to offset deductibles, copays, etc. What they do nto do a good job at is as a replacement for major med...