Assurant Health No matter how the industry changes, you can rely on us to keep you selling.
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Transcript of Assurant Health No matter how the industry changes, you can rely on us to keep you selling.
![Page 1: Assurant Health No matter how the industry changes, you can rely on us to keep you selling.](https://reader033.fdocuments.in/reader033/viewer/2022051619/56649dff5503460f94ae7c4b/html5/thumbnails/1.jpg)
Assurant HealthNo matter how the industry changes, you can rely on us to keep you selling.
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Individual Medical Plans2
Assurant HealthCommitted to showing you a way forward for success
• Part of Assurant, Inc., a Fortune 500 company • Rated A- (Excellent) by A.M. Best Company*• 120 years of experience**• Health insurance solutions for small
businesses and individuals nationwide
*Source A.M. Best Ratings and Analysis of Time Insurance and John Alden Life Insurance Company (December 2011)**Assurant Health is the brand name for products underwritten and issued by Time Insurance Company (est. 1892) and John Alden Life Insurance Company (est. 1961)
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Competitive Differences
Complete Individual Medical Product and Price Point Portfolio
• Proven History – in the Individual Medical Market since 1892
• Focused – 75% of Business is Individual Medical
• Differentiated – Premium Product in a Look-Alike Market
• Nimble – No Other Carrier Can Adapt as Quickly
• Dedicated – to the individual consumer and independent agent
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New Broader Network
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Aetna relationship brings expanded options and cost savings
BIG—numbers, access, deal
A new relationship between Assurant Health and Aetna® provides Assurant Health individual and small group major medical customers access to Aetna Signature Administrators® national PPO network for expanded network options and cost savings
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Individual Medical Plans6
What difference does the new network make?
– Access to a broader, nationwide network• Almost one million providers and 7,500 hospitals and facilities
nationwide
– Better negotiated pricing• Lower cost of care for your customers
– Reduced rates!• Significant rate reductions in many markets throughout the country
A continued commitment to agents and the health insurance market
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ASA Network Implementation• Feb release states
AK, AL, AZ, CT, FL,GA, IA, IL, LA, MD, MI, MO, NE, OK, PA, TX,
VA, WI, WV, WY
• May Release States– June 1 – Effective Date
• AR, DE, KY, ND, SC, – July 1 – Effective Date
• DC, MS, OH, TN
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Assurant Health Individual MedicalHealth care financing solutions that provide the best value for your customers
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Individual Medical Plans9
What are your customers looking for?
• An affordable way to manage and reduce health care expenses
• A plan that fits their needs and budget yet still has all the benefits they value
• Your guidance to figure out what’s best for them
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Individual Medical Plans10
Assurant Health makes it easy to offer solutions for your customers
– Affordable• Build plans that fit with health care reform (PPACA)• Promote cost-effective alternatives to copay plans
– Valuable• Offer features that help your clients get the most for their
health care dollars
– Easy• Seamlessly combine supplemental products with IM plans
—Assurant Health is one of the only carriers in the IM market that makes it possible
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Assurant Health Individual Medical Best value in the individual marketplace
• The old way…. • A new and better way…
MarketChanges
• Use copays for office visits and preventive care
• Customers could afford low deductibles
• Preventive paid at 100% — eliminates need for copay
• Higher deductibles offer premiums customers can afford
• Affordable supplemental plans help cover unexpected costs
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Individual Medical Plans12
Why copays no longer make sense
• Preventive office visits are now paid at 100% • Customers with non copay plans have
premium savings they can use to:– Pay for any non preventive office visits– Buy supplemental plans and enhance coverage
• Copays make the costs of office visits more predictable — not more affordable
Show your customers a better, more affordable way.
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Individual Medical Plans13
Preventive services — what’s included
• Preventive services recommended as part of PPACA and associated office visits are paid at 100%
• Here are just a few examples of recommended preventive services:
– Child immunizations to age 21– Well-baby and well-child visits to age 21– Annual Pap tests for women– Annual mammograms for women 40 and older
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Individual Medical Plans14
Preventive services examples
• Examples of included services– A woman goes for an annual exam with a Pap test. Both
the Pap test and the office visit will be paid at 100% as long as the main purpose of the exam is preventive
– A man goes for an annual physical and has his cholesterol tested as a preventive measure. Both the cholesterol test and the office visit will be paid at 100% if the main purpose of the exam is preventive
• Example of a not-included service– A man who has high cholesterol schedules an office visit
each year so his doctor can monitor his condition• The visit and tests are for his diagnosed condition, not a new
screening for the purposes of prevention• The services he receives, including cholesterol tests, will be subject
to deductible and coinsurance
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What a copay saves • Average office visit charge: $136• Average network discount: 35%• Average discounted office visit charge: $88• Average office visit copay: $35• Average non preventive office visits per year: 1.6 • Average annual cost of non preventive office visits
– Without a copay: $141/yr– With a copay: $56/yr
• Savings from a copay is only $85/yr or $7/mo• Conclusion: A copay plan is an affordable option only when
priced within $85/yr (or $7/mo) of a comparable non copay plan
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Individual Medical Plans16
Drop the copay and enhance coverage by adding:• Assurant Supplemental Coverage
– Dental– Accident Fixed-Benefit– Accident Medical Expense– Term Life-Critical Illness*– Cancer and Heart/Stroke*
• SuiteSolutions– SecureSolution– SelectSolution*
• Dental-Vision Discount Plan
Products vary by state*Based on informal guidance from the IRS, Critical Illness plans may be incompatible with HSA plans. Clients should consult a tax advisor if they wish to purchase a Critical Illness plan and fund an HSA.
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Individual Medical Plans1717
Extra protection and value for your customers
Current plan
New planWith Dental, Cancer
and Heart/Stroke and AME
Individual deductible $3,500 / 80% $5,000 / 50%
Monthly premium $578 $371
Dental coverage (Intermediate) $55 $55
Cancer and Heart/Stroke coverage ($30,000) $60
Accident Medical Expense coverage ($5,000 AME) $64
Total monthly payment $633 $550
Total Savings $83 per month
Adjust major medical to a higher deductible
Retain Dental coverage
Add Cancer and Heart/Stroke coverage
Add Accident Medical Expense coverage
See the savings
Extra protection
helps cover out-of-pocket
costs!
* Premiums based on male preferred/female standard age 42 and two children, with prior coverage, effective date of 5/1/2012 in ZIP code 75250. Individual major medical premiums reflect CoreMed plans with integrated Rx Coverage.
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Individual Medical Plans18
And higher compensation for youPlan Type Sold
Plan Design Details
Monthly Premium
First-year compensation
CoreMed Major Medical
$3,500 deductible; 80% coinsurance; prescriptions subject to plandeductible and coinsurance; $750 facility fee
$578$832
Compensation for medical plan
alone
Dental None
Accident Medical Expense
None
Cancer-Heart-Stroke
None
Total $578 $832Premiums based on male preferred/female standard age 42 and two children, with prior coverage, effective date of 5/1/2012 in ZIP code 75250. Agent compensation based on 2012 schedules. Numbers have been rounded to the nearest dollar and are used for illustration purposes only.
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Individual Medical Plans19
And higher compensation for youPlan Type Sold
Plan Design Details
Monthly Premium
First-year compensation
CoreMed Major Medical
$5,000 deductible; 80% coinsurance; prescriptions subject to plandeductible and coinsurance; $750 facility fee
$472$680
Compensation for medical plan
alone
Dental Intermediate Plan $55 $347Accident Medical Expense
$5000 Benefit Amount; includes 24Hr, $250 deductible, and $5000 AD&D for each insured
$64 $374
Cancer-Heart-Stroke
$30,000 face amount for Cancer & Heart-Stroke $60 $432
Total after adding supplemental
$651 $1,833Premiums based on male preferred/female standard age 42 and two children, with prior coverage, effective date of 5/1/2012 in ZIP code 75250. Agent compensation based on 2012 schedules. Numbers have been rounded to the nearest dollar and are used for illustration purposes only.
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Individual Medical Plans20
And higher compensation for youPlan Type Sold
Plan Design Details
Monthly Premium
First-year compensation
CoreMed Major Medical
$5,000 deductible; 50% coinsurance; prescriptions subject to plandeductible and coinsurance; $750 facility fee
$371$534
Compensation for medical plan
alone
Dental Intermediate Plan $55 $347Accident Medical Expense
$5000 Benefit Amount; includes 24Hr, $250 deductible, and $5000 AD&D for each insured
$64 $374
Cancer-Heart-Stroke
$30,000 face amount for Cancer & Heart-Stroke $60 $432
Total after adding supplemental
$550 $1,687Premiums based on male preferred/female standard age 42 and two children, with prior coverage, effective date of 5/1/2012 in ZIP code 75250. Agent compensation based on 2012 schedules. Numbers have been rounded to the nearest dollar and are used for illustration purposes only.
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Individual Medical Plans21
And higher compensation for youPlan Type Sold
Plan Design Details
Monthly Premium
First-year compensation
CoreMed Major Medical
$7,500 deductible; 50% coinsurance; prescriptions subject to plandeductible and coinsurance; $750 facility fee
$328$472
Compensation for medical plan
alone
Dental Intermediate Plan $55 $347Accident Medical Expense
$7500 Benefit Amount; includes 24Hr, $250 deductible, and $5000 AD&D for each insured
$72 $421
Cancer-Heart-Stroke
$30,000 face amount for Cancer & Heart-Stroke $60 $432
Total after adding supplemental
$515 $1,672Premiums based on male preferred/female standard age 42 and two children, with prior coverage, effective date of 5/1/2012 in ZIP code 75250. Agent compensation based on 2012 schedules. Numbers have been rounded to the nearest dollar and are used for illustration purposes only.
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Individual Medical Plans22
And higher compensation for youPlan Type Sold
Plan Design Details
Monthly Premium
First-year compensation
CoreMed Major Medical
$10,000 deductible; 50% coinsurance; prescriptions subject to plandeductible and coinsurance; $750 facility fee
$271$390
Compensation for medical plan
alone
Dental Intermediate Plan $55 $347Accident Medical Expense
$10,00 Benefit Amount; includes 24Hr, $250 deductible, and $5000 AD&D for each insured
$85 $497
Cancer-Heart-Stroke
$30,000 face amount for Cancer & Heart-Stroke $60 $432
Total after adding supplemental
$471 $1,666Premiums based on male preferred/female standard age 42 and two children, with prior coverage, effective date of 5/1/2012 in ZIP code 75250. Agent compensation based on 2012 schedules. Numbers have been rounded to the nearest dollar and are used for illustration purposes only.
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Individual Medical Plans23
Easy to add supplemental to any plan
It's easy to create bundled solutions that enhance your clients’ protection and increase your compensation. – Easy, online quotes and submissions– One integrated application for major medical
and supplemental products– No additional health questions
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Assurant Health Individual Major MedicalProduct Portfolio
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Major Medical Product Portfolio
• CoreMed – For those who want to control premium costs without
sacrificing benefits– Unique features help customers break the copay
addiction!
• OneDeductible– Simple — one deductible for all family members
• HSA-compatible options • Extra features that help maximize health care
dollars
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CoreMedFlexible options and great value
Family deductible – just 2x per family!
Option to use Health Savings Account (HSA) to pay medical expenses with tax-free money!
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Individual Medical Plans27
CoreMed• For those who want to control premium costs
without sacrificing benefits• Offers tremendous flexibility with a wide array of
options, including the ability to pay medical expenses with tax-free money through a Health Savings Account (HSA)
• Clients can customize coverage to their family’s health care and financial needs
• Package with supplemental coverage to build a complete package that helps:– Manage and reduce health care expenses – Pay unexpected out-of-pocket costs
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Individual Medical Plans28
Deductible1 $2,000; $3,500; $5,000; $7,500; $10,000; $15,000 or $25,000
Coinsurance 100%, 80/20, 70/30 or 50/50 (Georgia: 60/40 vs. 50/50)
Coinsurance Out-of-Pocket Maximum1 $0 to $7,500 depending on coinsurance
Facility FeesGives clients another option to save premium dollars by not paying for services they don’t use.
Option 1: $750 per day for the first three days as inpatient, $200 per outpatient surgery
Option 2: No inpatient or outpatient facility fees
CoreMed plan design options
1 Family deductible and coinsurance out-of-pocket maximums are two times the individual amounts listed and are met collectively by two or more people.
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Individual Medical Plans29
HSA-Compatible Options (Deductible/Benefit Percentage/Coinsurance/ Coinsurance Out-of-Pocket Maximum)
1. Choose one plan design option:•$3,500/50%/50%/$2,000•$5,000/100%/0%/$02. Choose facility fees option 2
Preventive ServicesBenefits will be paid in accordance with the Patient Protection and Affordable Care Act; others subject to plan deductible and coinsurance
Office Visits Subject to plan deductible and coinsurance
Prescription Drugs Subject to plan deductible and coinsurance
Emergency Room $75 emergency room fee, waived if admitted to hospital
Home Health Care Limited to 160 hours
Air/Ground Ambulance
No limits on number of trips
Intensive Care Unit (ICU)
No daily limits
Transplant Coverage
Kidney, cornea, skin, bone marrow, heart, liver and lung transplants are covered as any other service. All transplants include the following:• As much as $10,000 toward travel expenses• As much as $10,000 toward donor expenses
CoreMed plan benefits
Availability of certain benefits varies by state.
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Individual Medical Plans30
Sample CoreMed ratesRates below for plans with prescriptions and office visits subject to the plan deductible/coinsurance, $750 facility fee
Deductible $3,500 $5,000 $10,000
Coinsurance 80% 50% 50%
OOP $3,500 $3,500 $3,500Single male 42 $191 $133 $96
Single Female 42 $247 $185 $135
Family 42 + 2 children
$550 $401 $294
Numbers have been manually entered. Premiums based on preferred rates with prior coverage. Effective date 5/1/2012. ZIP code 75250.
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OneDeductibleSimplicity and savings
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Individual Medical Plans32
OneDeductible
• Simple — one deductible for all family members • Add an HSA
– Realize tax advantages – Multiple options for HSA administration
• As with CoreMed, package with supplemental coverage to build a complete package that helps:– Manage and reduce health care expenses – Pay unexpected out-of-pocket costs
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Individual Medical Plans33
OneDeductible plan design options
Deductible•Family shares one deductible•No separate deductibles
Individual plan options: $2,850, $3,750, $5,000 Family plan options: $5,700, $7,500, $10,000
Coinsurance 100%, 80/20, 50/50
Coinsurance Out-of-Pocket Maximum
$0 to $2,500 — depending on coinsurance
Prescription Drugs Subject to plan deductible and coinsurance
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Individual Medical Plans34
Preventive ServicesBenefits will be paid in accordance with the Patient Protection and Affordable Care Act; others subject to plan deductible and coinsurance
Emergency Room$75 emergency room fee, waived if admitted to hospital
Home Health Care Limited to 160 hours
Inpatient Rehabilitation Facility, Subacute Rehabilitation and Skilled Nursing Facilities
Limited to 90 days
Air and Ground Ambulance No limits on number of trips
Behavioral Health and Substance Abuse
Subject to plan deductible, then 50% coinsurance to out-of-pocket maximum;
100% coverage after out-of-pocket maximum
Intensive Care Unit (ICU) No daily limits
Transplant Coverage
Kidney, cornea, skin, bone marrow, heart, liver and lung transplants are covered as any other service. All transplants include the following:• As much as $10,000 toward travel expenses• As much as $10,000 toward donor expenses
OneDeductible plan benefits
Availability of certain benefits varies by state.
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Individual Medical Plans35
Sample OneDeductible rates
Deductible $2,850 $3,750 $5,000
Family Deductible
$5,700 $7,500 $10,000
Coinsurance 100% 100% 100%Single male 42 $xxx $xxx $xxx
Single female 42 $xxx $xxx $xxx
Family 42 + 2 children
$xxx $xxx $xxx
Numbers have been manually entered. Premiums based on preferred rates with prior coverage. Effective date xx/1/2012. ZIP code xxxxx.
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More ways to optimize dollars
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Individual Medical Plans37
Health Savings Accounts (HSA’s) can be added for additional savings to qualified CoreMed and One Deductible plans. An HSA plan:• A qualified high-deductible health plan• A tax-favored savings account• Clients can use an HSA to pay medical expenses not paid by their high-
deductible health plan — including bills that go toward meeting the deductible and many other expenses
Client financial benefits:• No income tax on money deposited in HSA• No tax on interest or earnings as long as money withdrawn is for qualified
medical expenses• Unspent money rolls over year to year for future medical expenses or
supplementing retirement income — NOT “use it or lose it”• At age 65, clients can withdraw money from HSA for non-medical expenses
without penalty, paying only standard income tax
Assurant Health is not engaged in rendering tax advice. Please see a qualified tax professional.
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Individual Medical Plans38
Health Savings Account (HSA) administration
Assurant Health HSA administration advantages:– No account fees– Competitive interest rate– Automatic contribution (deposit) options– Checkbook and VISA debit card– HSA Tools — free online option to pay bills and manage
account
HSA administration options – HSA Tools– HSA Fundamentals– Any outside administrator you choose
NoSF
Funding an HSA is easy!Premium savings from
the high-deductible health insurance plan can be used to fund HSA contributions
Assurant Health is not engaged in rendering tax advice. Please see a qualified tax professional.
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Individual Medical Plans39
2012 HSA law
• HSA contributions are allowed to the maximum amount ($3,100 / $6,250) for any HSA qualifying deductible
• Additional “catch-up” of $1,000 for those age 55 and older
• Allows a one-time rollover from an HRA and FSA into an HSA
• Allows a one-time rollover from an IRA to an HSA
Assurant Health is not engaged in rendering tax advice. Please see a qualified tax professional.
References are to federal tax laws. State laws may differ.
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Individual Medical Plans40
Assurant Supplemental Coverage• Dental• Accident (Fixed-Benefit & Accident Medical
Expense)• Critical Illness & Cancer Heart/Stroke
– Benefits are paid in addition to other medical coverage– Benefits are paid directly to customer– Pays their portion of medical costs– Minimizes the amount customers pay out of their own
pockets – No additional medical questions/nominal underwriting
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Other supplemental and discount options
SuiteSolutions® 2 benefit levels
– SecureSolutions– SelectSolution
• Protection from the financial effects of accidents and disability
• Helps pay out-of-pocket costs due to accidents• Pays cash benefits for accidental death, dismemberment
and disability• Option for cash benefits due to critical illness
Dental-Vision Discount Plan• Provides discounts from a nationwide network of dental and
eyewear providers
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Individual Medical Plans42
SuiteSolutions plans are separate contracts. SuiteSolutions is not available in AZ, MD, NC, OR or SD. SecureSolution is only available in CA, CO, CT, FL, GA, ID, IN, KS, MN, ND, NH, OH, PA, TN, and VA. SelectSolution is not available in IN.
SuiteSolutions® • Available through membership in Health
Advocates Alliance• Accident Medical Expense (AME) and Critical
Illness benefit – $2,500– $5,000– $10,000
• Weekly Accident Indemnity Benefit– 70% of basic weekly salary to a maximum of $250 per week, for up to
52 weeks for primary insured only
• Death Benefit– $25,000 primary insured $1,000 spouse & each child
• Dismemberment – $25,000 primary insured $1,000 spouse & each child
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Individual Medical Plans43
Valuable features with all individual plans • Patient Care
– Personal assistance to help navigate through the health care system
• Retail health clinics– Convenient, cost-saving and covered as network
providers
• Health Management Team– Registered nurses on staff to help manage complex or
catastrophic diseases, injuries or conditions
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Individual Medical Plans44
Patient Care• Patient Care is a health care advocacy service
available to customers covered by Assurant Health• A Patient Care Advocate will:
– Help find network providers – Assist with billing and/or claim issues – Research cost and quality information for services and
treatments – And more…
Patient Care is an independent advocacy company and is not affiliated with Assurant Health.
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See how Patient Care can help your clients save money by giving them more information about their health care options.
Individual Medical Plans45
Patient Care cost comparison example — colonoscopy
Option 1 Option 2 Option 3
Estimated doctor cost
$1,437 $1,924 $1,290
Estimated facility cost
$3,360(hospital 1)
$4,175(hospital 2)
$1,297(outpatient
center)
Total cost $4,797 $6,099 $2,587
For illustration only. Estimated cost includes network discounts.
$3,500 inpotentialsavings!
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Individual Medical Plans46
Retail health clinics
• CVS – Minute Clinics• Walgreens – Take Care Clinics
– Convenient– Quick access and savings for common medical services
such as flu shots, strep throat, physical examinations, immunizations
– Covered the same as services performed by providers in network
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Underwriting Highlights
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ExpressYES — Elements
• Express Underwriting – in seconds:– 17 health questions– MIB– Rx check
• Immediate notice of approval on Confirmation screen
• Printable insurance card available upon approval• “Instant Active” indicated in Underwriting Status
04/19/23
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Individual Medical Plans49
Possible outcomes
• Instant issue — clean clients whose MIB and Rx checks pass at point of electronic submission
• Rate up — commonly for HBP, cholesterol, build (25%)
• Exclusion rider — may be time-defined or permanent
• Condition-specific deductible — unique response to minor conditions you or your clients don’t want to see excluded
• Decline — our least favorite outcome by far! Pivot to Assurant Health Access?
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Individual Medical Plans50
CSDs – Yes, please!
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Individual Medical Plans51
Pre-screens
• Available Mon-Fri, 7:30 a.m. to 6 p.m. Central Time, by telephone at:
888.575.6421
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MyBook• All active policies display• Terminated policies display for 15 months• Alert History screen – displays alerts for 24
months• Alerts display:
– Renewals– Late Payments– Terminations– Rewrites– Renewed (if still active 2 months after renewal)– Paid (when payment made)– Reinstated (when reinstated)– Terminated (when terminated or lapsed)– Closed (when 2nd late payment alert occurs)
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Thank you!
Product forms: Series TIM, TIM.POL.001.TX, TIM.POL.001.TX-LB
Coverage is renewable provided: eligibility and participation requirements are met, you have not moved outside the service area for a PPO plan, and there has been no discontinuation of the plan or the company’s business operations in this state. The company has the right to change premium rates upon providing appropriate notice.
For agent use only. Not for distribution to consumers.
Assurant Health is the brand name for products underwritten and issued by Time Insurance Company, Milwaukee, WI.
This plan includes limitations and exclusions, such as limitations on coverage for pre-existing conditions and exclusion of maternity care. For a complete list of limitations and exclusions, please see assuranthealth.com (major medical insurance details compare our plans).