Do you pay Health Insurance out of your profits?
- Thread starter deadreader
- Start date
There are based in Dallas and the Dallas Mornings News have been running articles on them in the business section of the paper off and on for months now. They're are lawsuits flying all over the place over them. Basically if you start filing claims your premimums start rising and eventually after enough claims they drop you. Also the IRS is considering changing their status to that of an insurance company and not an association because there main focus is selling insurance. Also the State is looking at their activities.
Proof in point, the Association is run by the children of the CEO of the insurance they push. The insurance is by way of a company called UICI.
Don't take my word for it but search the archives of the Dallas Morning News. Quite a few articles on the subject. You may have to purchase the articles to get the reprints. If memory serves the last article was in the last month or so. The sales reps will probably try and gloss over it.
UICI is a publicly traded company, don't no what the ticker is. They also are in hot water over something else but don't remember the details. The Founder and retired CEO has come back to straighten out the mess.
Good luck
Bsulli
"Catastrophic" insurance is when you have a $XXXX deductable annually, all costs after that are typically paid. There is a lifetime cap, usually a couple of million. All medical expenses incurred count to the annual deductable. The higher the deductable, the lower the premium. If you're young and healty and want to take the chance that you won't be diagnosed with serious condition in the next 12 months, give Mutual of Omaha a call.
NASE seemed to negogiate good deals with insurance. But I recall they were too iffy on the details. You sort of had to buy first and just trust them, 'cause they would not provide specifics. Their rep told me, and I quote, "We're gonna take care of you like you're my mother." Yeh, right, BS. Put it in writing. They wouldn't.
Health insurance is typically paid monthy, no deductable, but there is a small or non-extistent co-pay with office visits and procedures. For example, I'll pay $20 to see a Dr. or Specialist or for an in-office procedure. An emergency room visit will cost me $50. And if I'm admitted into a hospital, that's $500. That's for the NYC area. Though the monthly is a few hundred for 2 people, I like it because I don't have to hold back if I think I should get to the doctor just to check something out premptively. Warren Zevon said his problem probably came from avoiding doctors for 20 years.
I did find an agency smart enough to group small businesspeople like me together to qualify for group rates. Don't know if they can help or refer all areas:
http://www.abouthealthinsurance.com/
NASE seemed to negogiate good deals with insurance. But I recall they were too iffy on the details. You sort of had to buy first and just trust them, 'cause they would not provide specifics. Their rep told me, and I quote, "We're gonna take care of you like you're my mother." Yeh, right, BS. Put it in writing. They wouldn't.
Health insurance is typically paid monthy, no deductable, but there is a small or non-extistent co-pay with office visits and procedures. For example, I'll pay $20 to see a Dr. or Specialist or for an in-office procedure. An emergency room visit will cost me $50. And if I'm admitted into a hospital, that's $500. That's for the NYC area. Though the monthly is a few hundred for 2 people, I like it because I don't have to hold back if I think I should get to the doctor just to check something out premptively. Warren Zevon said his problem probably came from avoiding doctors for 20 years.
I did find an agency smart enough to group small businesspeople like me together to qualify for group rates. Don't know if they can help or refer all areas:
http://www.abouthealthinsurance.com/
Headline: UICI's stock falls on article about policy sales
Insurer says report on 'teaser' rates contains 'inaccuracies'
Relevance: 17
Writer: ROGER YU Staff Writer
Published: November 22, 2002
Page Number: 4D
Word Count: 630
Edition: SECOND
Summary: UICI shares fell sharply Thursday after a report that the Dallas-based health insurer and its industry peers sell policies to members of nonprofit associations that have links to the insurers.
The Wall Street Journal report said that clients are drawn with "teaser" premium rates only to face precipitous rate increases soon after enrollment.
UICI, whose shares fell $2.15 to $14, responded in a written statement that it is "disturbed by the inaccuracies and
One of many hits on the company.
Bsulli
Insurer says report on 'teaser' rates contains 'inaccuracies'
Relevance: 17
Writer: ROGER YU Staff Writer
Published: November 22, 2002
Page Number: 4D
Word Count: 630
Edition: SECOND
Summary: UICI shares fell sharply Thursday after a report that the Dallas-based health insurer and its industry peers sell policies to members of nonprofit associations that have links to the insurers.
The Wall Street Journal report said that clients are drawn with "teaser" premium rates only to face precipitous rate increases soon after enrollment.
UICI, whose shares fell $2.15 to $14, responded in a written statement that it is "disturbed by the inaccuracies and
One of many hits on the company.
Bsulli
I had NASE for about 1 month... You don't get all the details until you actually sign up, then I realized this was the worst insurance EVER created. Amazingly, I got them to refund all of my premiums without any hassles.
The main problem was that there were low dollar limits on almost everything. And being that it was a "cafeteria plan" whatever options you chose had serious limitations on what they pay out. Their response was that you can negotiate with the hospital for partial payment. Well, ya know what? When I'm in the hospital having a triple bypass I'm not gonna be negotiation anything except for them to help me stay alive... no matter what the cost! They might as well just ship me off to the county hospital. IMHO, insurance is what you buy and hope you never use... but when you need it... it darn well better payout for what you need.
I'm sure you can find more info by searching google for: NASE scam
Oh, and all the other NASE membership crap they offer you isn't worth shit. Don't waste your time.
The main problem was that there were low dollar limits on almost everything. And being that it was a "cafeteria plan" whatever options you chose had serious limitations on what they pay out. Their response was that you can negotiate with the hospital for partial payment. Well, ya know what? When I'm in the hospital having a triple bypass I'm not gonna be negotiation anything except for them to help me stay alive... no matter what the cost! They might as well just ship me off to the county hospital. IMHO, insurance is what you buy and hope you never use... but when you need it... it darn well better payout for what you need.
I'm sure you can find more info by searching google for: NASE scam
Oh, and all the other NASE membership crap they offer you isn't worth shit. Don't waste your time.