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You won't find a better carrier than Assurant. There's a reason why State Farm, USAA, and others utilize Assurant as their exclusive individual vendor.
Now, if you're looking for cheaper - that's another story.
Humana One Good or Bad?
- Thread starter NCnatwidagent
- Start date
You won't find a better carrier than Assurant. There's a reason why State Farm, USAA, and others utilize Assurant as their exclusive individual vendor.
Now, if you're looking for cheaper - that's another story.
I seriously doubt Assurant is committed to being a player in the major medical market much longer. Others that will probably bail include Aetna and Cigna.
Assurant has been so far out of the market for so long, both pricing and underwriting, that there is no reason to even consider them a player.
Assurant has been so far out of the market for so long, both pricing and underwriting, that there is no reason to even consider them a player.
Cigna is supposed to offer new products here in July but I am not holding my breath. Won't be the first time a carrier has retooled only to bow out.
They are only offering individual major med in about a dozen states with no plans to enter more states. There are only 2 states where they are writing a fair amount of business, FL is one, GA is not.
The new plans are "Value" plans similar to what is already on the market from other carriers that have better rates and more reasonable underwriting.
Cigna has the money to do whatever they want, but I can't see them making a big splash only to see it come to a halt in 3 years. Even Humana that is in 30+ states is hedging their bets.
At one time I thought Humana and UHC would be market players after 2014 but not so sure any more.
Cigna's rep calls me every couple of weeks wanting feedback on who is writing what and asking me to explain plan differences. She was thrown for a loop by the fact that Humana cut their rates 15% or so about a month ago making them the one to beat in GA at least for now.
They are only offering individual major med in about a dozen states with no plans to enter more states. There are only 2 states where they are writing a fair amount of business, FL is one, GA is not.
The new plans are "Value" plans similar to what is already on the market from other carriers that have better rates and more reasonable underwriting.
Cigna has the money to do whatever they want, but I can't see them making a big splash only to see it come to a halt in 3 years. Even Humana that is in 30+ states is hedging their bets.
At one time I thought Humana and UHC would be market players after 2014 but not so sure any more.
Cigna's rep calls me every couple of weeks wanting feedback on who is writing what and asking me to explain plan differences. She was thrown for a loop by the fact that Humana cut their rates 15% or so about a month ago making them the one to beat in GA at least for now.
A reduction in carriers is a big problem. Although I would cringe over the idea of shoring up Cigna's marketing, or sending sales to Aetna, nonetheless it's a big problem when a state has only 1 or 2 carriers left. Usually the last carrier standing is Blue Cross Blue Shield (sometimes in the company of some regional small players). The reason BCBS still stands is because they are a non-profit health plan only. They don't have pension sales like Cigna, ancillary lines, and other types of insurance and investments to sell. They only do health insurance (maybe with an associated dental or vision). The other carriers look at the health insurance slice of business and decide to close it in order to retain their assets and focus on profitable lines. BCBS trudges on, and often remains the last soldier standing. When BCBS is the last carrier standing in a local market, they usually cut out the agent's commissions. I agree that Cigna is wavering, and Aetna has shot themselves in the foot. But nonetheless, we need multiple carriers in a market.
Perhaps in your state, but not everywhere. Most are for profit carriers.
And FWIW, the "not for profit" status has very little bearing on whether they can compete or not.
True, but the designers of Obamacrap, whether by design or unintentional, will leave consumers with almost no choice. This is what has happened in ME, VT, NY and is close to happening in MA.
- Thread starter
- #17
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I've never had any problems with Assurant. Just seems that lately they are focusing mainly on group and have cut out alot of IM policies. Also the rates are crazy!You won't find a better carrier than Assurant. There's a reason why State Farm, USAA, and others utilize Assurant as their exclusive individual vendor.
Now, if you're looking for cheaper - that's another story.
I'm just looking for alternatives to offer.
- 8,448
DEEEP inside the State of Illinois Department of Insurance Website are reports that show how many complaints are filed by consumers against specific companies.
Humana had an amazingly high 22% complaint ratio for it's individual plans in 2010. That means that 22 out of every 100 individual Humana policy owners took the time to file a formal complaint against Humana last year. Quite astounding that Humana's ratio is higher than TIME, CELTIC, etc..
Here's a link to the report:
http://www.insurance.illinois.gov/Complaints/2010IndividualAHComplaintRatio.pdf
Note1: Health Care Service Corporation on the report is Blue Cross Blue Shield of Illinois' parent company.
Note2: Only companies with at least 5 consumer complaints in 2010 are on this list.
-Allen
Humana had an amazingly high 22% complaint ratio for it's individual plans in 2010. That means that 22 out of every 100 individual Humana policy owners took the time to file a formal complaint against Humana last year. Quite astounding that Humana's ratio is higher than TIME, CELTIC, etc..
Here's a link to the report:
http://www.insurance.illinois.gov/Complaints/2010IndividualAHComplaintRatio.pdf
Note1: Health Care Service Corporation on the report is Blue Cross Blue Shield of Illinois' parent company.
Note2: Only companies with at least 5 consumer complaints in 2010 are on this list.
-Allen
DEEEP inside the State of Illinois Department of Insurance Website are reports that show how many complaints are filed by consumers against specific companies.
Humana had an amazingly high 22% complaint ratio for it's individual plans in 2010. That means that 22 out of every 100 individual Humana policy owners took the time to file a formal complaint against Humana last year. Quite astounding that Humana's ratio is higher than TIME, CELTIC, etc..
Here's a link to the report:
http://www.insurance.illinois.gov/Complaints/2010IndividualAHComplaintRatio.pdf
Note1: Health Care Service Corporation on the report is Blue Cross Blue Shield of Illinois' parent company.
Note2: Only companies with at least 5 consumer complaints in 2010 are on this list.
-Allen
That's per 10,000, not per 100...that equals out to 0.2%. I'll bet most of those people bought non-Rx policies and then complained when the Rx wasn't covered. I'd also bet most of the underwriting complaints across the board are valid and the people were just pissed off because they got declined.
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