Will Health Insurance Supp Market Survive ACA?

[Zoaty]

Hey Pros,

With regards to the health insurance supplement market (not medicare sup), do you think these types of plans are going to be around for the long haul?

Do you think the ACA will eventually require plans to cover most things in the future that are presently being covered by various supplemental dental plans, cancer plans, and other indemnity plans etc?

Which are the greatest at risk supplement markets? Dental comes to mind since Qualified Dental Plans are offered on the exchanges as I understand it.

Do you think the high dollar ACA plan premiums for MEC will wipe out individuals ability to pay for such supplemental coverage products?

Just want to hear some veteran thoughts on the topic.

Thx!

 

[GreenSky]

I think we'll have single payer without the need for supplements sooner rather than later.

Obamacrap was about the worst plan imaginable. It will yield to Canadian style crappy coverage and swallow up Medicare.

And nobody has a crystal ball so just because I'm the most brilliant person on the forum doesn't mean I'm correct. Although anyone that disagrees would be wrong.

Rick

 

[somarco]

There is still a market for ancillary lines in Canada, UK and other places.

The challenge in the US is the policyholder is expected to pay for at least a portion of their coverage (vs getting it "free" up north and across the pond).

So there will be a need. Having the funds to pay for extra coverage is another issue.

Agents have 2 - 3 years to make money in traditional health insurance then go look for something else.

 

[taterpeeler]

I think we roll 3 more years or 4 and then we will roll to medicare for all.... at that point game on for the agents but bad for the country

 

[KennyWest]

Agree with Charlie on this though I think it will take longer than 3 or 4 years.

And, it is not "free" in CA, UK, etc. I have lots of friends in EU and one of my best friends (now U.S. citizen) grew up, married, etc. in CA.

There are a million reasons why I think it will take longer. Regardless of them comparing the U.S. to CA or UK or pretty much any EU country on an economic item like this is like comparing apples to lightbulbs. WAY too many differences in a ton of different areas from economies, economics, population distribution and density and on and on and on.

----------

Might add, today's environment proves that private businesses will always be smarter than the federal govt. can ever comprehend being when it comes to innovation, how to succeed, etc.

 

[pcbinsurance]

For Kenny's sake, I hope you're right:

 

[TXINSURANCE]

Single payor my !$!#%! Don't hold your breathe on that one. Follow the money...

 

[taterpeeler]

For Kenny's sake, I hope you're right:

-OH MY GOD- you killed kenny! - YouTube

I am offended by the nasty nature of the clip yup posted... I'm reporting that post to Sam...I won't sleep tonite and my entire AEP is now probably ruined... My kids will go hungry

 

[Josh]

I think we roll 3 more years or 4 and then we will roll to medicare for all.... at that point game on for the agents but bad for the country

Game on for agents?

MA has done nothing but get worse for agents for years, give it another three or four and agents might be out of selling MA altogether. Don't get me wrong, I doubt there will be a flat out ban, but every move they've made lately has either been a comp cut or a marketing restriction. Most of these marketing restrictions actually force agents to do nothing more than take orders. Agents can't even do plan review meetings with their current clients anymore. "Yup Betty, it's a shame the Humana plan lost half their network, increased the premium from $0 to $50, and all your copays tripled this year, (but CMS won't let me tell you that UHC just picked up all those doctors, went from $50/month to $0/month, and have lower copays than the plan you had before)".

 

[KennyWest]

For Kenny's sake, I hope you're right:

-OH MY GOD- you killed kenny! - YouTube