Ultra high deductible stop loss plans

newmindfashion · 09-11-2007, 02:37 PM

Hey all,
I think this may be a repeat of a prior similar thread but was wondering if
Anyone here knows of an insurance carrier option that will cover claims after a very high deductible. Say 50K then 100%.

I know Assurant has a 25K deductible but its not available in CT or NH (what else is new!)

Any other companies that anyone knows of? Does this type of ultra high deductible fall under a different catagory of health insurance other than major medical? Feedback appreciated.

Consultant · 09-11-2007, 05:34 PM

What factors in a family/individual would you recommend a 50k deductible?
(Assurant has the highest deductible that I know of here in CA)

If its simply afford ability. How could one afford the deductible?

Is it tax deductibility of the 50k? You can only contribute up to 5,650 a year. One could earn 500 a month if fully invested $50,00 (tax-free) but that would take approx. 8 years to accumulate. Which may be a good addition to a retirement portfolio - Ceteris Paribus. (Many factors would have to work with you)

Please elaborate...

somarco · 09-11-2007, 05:44 PM

GTL has a Preferred Catastophic plan with SIR's from $25k to $50k in $5k increments.

newmindfashion · 09-11-2007, 07:20 PM

[COLOR=black]Consultant - [/COLOR]

Who said I recommended it? There are some very wealthy people in this country and some have asked me about it over the years.

At the moment, one of my customers is low on cash and wants to sign up for a limited scheduled policy through a musician's union but wants to protect the high end too, thus my question. I assume you don't have a source to suggest?

newmindfashion · 09-11-2007, 07:23 PM

Bob,
Thank you as always. I'll check to see if they're in any of my states of business. Looks interesting.

GreenSky · 09-11-2007, 07:41 PM

While I don't know what is available now, I will point out that when I was much younger I bought a plan for my wife with a $25K deductible.

While we were at students at UCLA, we had a plan that covered us for 100% of expenses with a maximum benefit of $50,000. Kemper Insurance had an 80/20 plan with a deducitible of $25,000 and they would not coordinate with our university plan.

Back in 1976 I was pretty sure I would not have to worry much about any medical bills between the two plans.

Rick

somarco · 09-11-2007, 08:35 PM

US Life used to offer a plan with a $100,000 deductible through PIU but it appears they have withdrawn that product. I believe there are high net worth individuals who wouldn't mind buying products with $50k or higher SIR's. OTOH, there probably isn't enough demand to keep the product on the shelf.