Scroll down for a discussion on ok texas....get ready for..... within the Individual Health Insurance Forum.
Precedent Insurance Company..............I just heard a radio spot for these guys saying buy heath insurance as you need it.....and to get a plan design you ...
Precedent Insurance Company..............I just heard a radio spot for these guys saying buy heath insurance as you need it.....and to get a plan design you have to fill out a questionnaire just to get a rate and a outline....here is da site....will keep you posted on what I come up with.....
precedent.com
General Questions or Application Assistance
1-8-PRECEDENT (877-323-3368) Policyholder Contact Info
Customer Service: (888) 445-5572 Correspondence:
Precedent Insurance Company
Box 477907
Broadview Heights, OH 44147-7907 Corporate offices:
Precedent Insurance Company
39201 Seven Mile Road
Livonia, MI 48152-1094 E-mail:comments@precedent.com Press Contacts
OK, so I am watching the video and looking at Tempo. According to the chart there is $0 premium to activate the first $1000 of benefits, $1800 to take it to level 2 ($7500), $2100 (I assume additional) to take it to $15000 and $6000 to take it all the way up to $1M.
Man this is like a high tec UA plan I think......they are not giving caps and have a disclaimer that this is a limited benifit plan ....you sure can not get plan details from their web site.....
Watch the video. It is mind numbing, so pour yourself a tall one first. Go the plans and click on the graph when prompted.
Seems to operate more like a self funded plan than anything. Kind of scary.
If I had to guess, I would say it IS self funded up to $15,000. They play games with the network discounts through various levels until you get to $15k where the "real" insurance kicks in. Everything underneath is discounts & loans.
Can't imagine the TDI would approve that if I am right.
This is complete crap but the website is AWESOME - BEST I HAVE SEEN!!! Blows Tonik / SOUND away in design.
Paying $1000, $2500, and $5000 and access to some PPO network.
I didn't see ANY RX coverage mentioned.
It will NOT quote price - I completed their entire application and it said "someone will call me to complete"
OK here is the catch... taken from www. precedent.com faq's...
Q: Can I activate more than one coverage level at a time with a Coverage on Demand plan? A: Yes, but you need to activate them in order. For example, if you need Level 4 coverage, you must buy the Level 2 and Level 3 coverage levels as well. So, based upon the above numbers for someone age 23 to 27, Level 4 coverage would run $9,900 for the Tempo plan and $8,950 for the Rhythm and Groove plans. That sounds like a lot of money, but it will look like a bargain if you are faced with large, unexpected medical bills. We pay 100% of your medical costs, in network, under Levels 2, 3, and 4. Furthermore, you may be eligible to finance your Activation Premiums and spread the payments out over up to three years (subject to credit approval).
This does bring up some good points that the big players need to realize...
1. Younger crowd can not pay and does not want deductibles
2. Dental, Vision, Physicals, Glasses, little bills people want paid
3. Co-insurance is out of style
4. Individual (one person) plans are the new thing
5. Credit card billing every month - come on carriers!!!
The younger market is ripe for the picking but we have a lot of old crummy plans on the market that do not match the younger "uninsured" at all..
I give them credit for the AWESOME website and at least thinking of a new concept - which is why I do a lot of SOUND / TONIK - it broke the mold of the old traditional BORING Health Insurance plan.
I am sure these folks will be sued and out of business eventually. I would love to get my hands on the actual policy, I am sure it is next to impossible to figure out.
They did make mention of plans for less than "$100 per month vs. $200 - $300 for plans sold by agents" which leads me to believe there is a required monthly premium (or deposit). I did find an article by a woman in TX who sells for Precedent and also sells mini-meds.
This confirms my earlier suggestion that this may be a Care Entree kind of plan coupled with a self funded portion (up to $15,000).
Here is what the plan looks like for a 21yr old male NS that live in Austin.
Plan Name: Tempo
Premium, Coverage Level 1 Monthly:$87.32 Quarterly:$261.96 Annually:$1,047.84 Coverage Levels and Activation Premiums: Coverage Level:Maximum Benefit Payable:Activation Premium:1$ 1,000none*2$ 7,500$1,7003$15,000$2,0004$ 5 million$5,700Benefit Levels Deductible: none Medical Benefit Coverage Percentage Coverage Level 1 Participating ProvidersNon Participating ProvidersWe pay60%50%You pay40%50%
Coverage Level 2 - 4 Participating ProvidersNon Participating ProvidersWe pay100%70%You pay0%30%Prescription Drug Benefit Coverage Percentage We pay 60% of participating pharmacy costs Special Benefits and Provisions, all Coverage Levels: Preventive Care: $400 per benefit period Accident Benefit: We will waive the Deductible and pay the Covered Charges at the Network Benefit Percentage. The Deductible will be applied to any Covered Charges incurred after the 30 day limit has been met. Dental Benefit:$250 per benefit period Vision Benefit: 1 vision examination per benefit period Lifetime Maximum Benefit:$ 5 millionFor a full description of your plan benefits,view [COLOR=#810081]Plan Details[/COLOR]. * Premiums for Coverage Level 1 benefits. Activation Premiums for Coverage Level 1 do not apply
Plan Name: Rhythm
Premium, Coverage Level 1 Monthly:$88.96 Quarterly:$266.88 Annually:$1,067.52 Coverage Levels and Activation Premiums:
Coverage Level:
Maximum Benefit Payable:Activation Premium:1$ 2,500none*2$10,000$2,1503$20,000$2,5504$ 5 million$3,800Benefit Levels Deductible: $250 Medical Benefit Coverage Percentage Coverage Level 1 Participating ProvidersNon Participating ProvidersWe pay70%50%You pay30%50%
Coverage Level 2 - 4 Participating ProvidersNon Participating ProvidersWe pay100%70%You pay0%30%Prescription Drug Benefit Coverage Percentage We pay 60% of participating pharmacy costs Special Benefits and Provisions, all Coverage Levels: Preventive Care: $400 per benefit period Accident Benefit: We will waive the Deductible and pay the Covered Charges at the Network Benefit Percentage. The Deductible will be applied to any Covered Charges incurred after the 30 day limit has been met. Dental Benefit:$250 per benefit period Vision Benefit: 1 vision examination per benefit period Lifetime Maximum Benefit:$ 5 millionFor a full description of your plan benefits,view [COLOR=#810081]Plan Details[/COLOR]. * Premiums for Coverage Level 1 benefits. Activation Premiums for Coverage Level 1 do not apply
ok texas....get ready for.....
Linear Mode
