- 396
Who and what plans are out there?
Major Medical Supplement
- Thread starter SouthernComfort
- Start date
I like the Assurant supplemental products like Dental, Critical Illness, Cancer/Heart/Stroke, and two types of Accident. Assurity Life has a simplified Critical Illness product that is pretty good too.
Happy Texan
Expert
- 87
How about a product that pays first dollar benefits.
The insurer assumes this up-front risk, increasing every month if benefits accrued are higher than claims.
The secondary insurer's risk is being lowered each month as the participant's ACOUNT BALANCE INCREASES (ON A PAID-FOR BASIS) MORE THAN THE ACCOUNT REDUCES DUE TO CLAIMS.
The secondary insurer, for the immediate future, will be the employer in self-funded plans of 200 employees or more.
The employer likes transferring his up-front risk to the insurer, necessitating less reserves it must hold each month as its exposure reduces (and the insurer exposure increases).
Over time the insurer can assume 60% of the employer's up-front risk, on a paid for basis.
This reduces the employer's premiums and reserve needed by 60%.
The same process will occur on the public exchanges in the next year or two, as the insurer already on the exchange takes the place of the employer.
Don Levit,CLU,ChFC
Treasurer of National Prosperity Life and Health
The insurer assumes this up-front risk, increasing every month if benefits accrued are higher than claims.
The secondary insurer's risk is being lowered each month as the participant's ACOUNT BALANCE INCREASES (ON A PAID-FOR BASIS) MORE THAN THE ACCOUNT REDUCES DUE TO CLAIMS.
The secondary insurer, for the immediate future, will be the employer in self-funded plans of 200 employees or more.
The employer likes transferring his up-front risk to the insurer, necessitating less reserves it must hold each month as its exposure reduces (and the insurer exposure increases).
Over time the insurer can assume 60% of the employer's up-front risk, on a paid for basis.
This reduces the employer's premiums and reserve needed by 60%.
The same process will occur on the public exchanges in the next year or two, as the insurer already on the exchange takes the place of the employer.
Don Levit,CLU,ChFC
Treasurer of National Prosperity Life and Health
Are you referring to their Health Access policies?
Happy Texan
Expert
- 87
Cant say that I have every heard of it. What carrier offers this?
Happy Texan
Expert
- 87
National Prosperity Life and Health
We are looking for approval from the Texas Department of Insurance within the week.
Don Levit
Treasurer of NPLH
We are looking for approval from the Texas Department of Insurance within the week.
Don Levit
Treasurer of NPLH
I just realized that, very crafty dangling of the carrot though
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