Friday, October 21, 2016
MediShare: Epilogue
So, the other day I asked about folks' experiences with Health Care Sharing Ministries and, as usual, our readers came through in a big way.
Thank you!
One thing missing, though, was an agent's perspective; that is, from someone who'd actually sold such a plan. Fortunately, I received an email from one such, who's graciously agreed to let me share her story:
"I'm a financial advisor and licensed insurance agent (since ’97). I moved my family to Samaritans two years ago when that insurance we were promised we could keep was no longer available. It took me some time to get comfortable with the idea of believers sharing burdens like this. In part my skepticism was a result of my training in the industry; insure risk, insure risk, insure risk.
Also, my skepticism was partially anchored in knowing human nature. This year we had a small need, $1,800. The plan worked as explained, and receiving notes of encouragement from all those folks was encouraging. It's a privilege to pray for and encourage those to whom we send our monthly contributions, so to receive it in return warmed my soul.
We have found that generally telling doctors that we are cash pay affords better treatment, better pricing, easier appointment times and we've become much more aware of cost [ed: which tracks with what other commenters have noted] as we don't wish to burden the group any more than is absolutely necessary. It's been eye opening to see just how badly and invasive the insurance industry has injected itself between the doctor/patient relationship. Now, even if the ACA is repealed, I don't think I'll go back to regular insurance."
Thank you, this is exactly the kind of input I was seeking.
So, I think at this point that I need to "move on" from my skepticism of this model, at least insofar as this new product is concerned.
Thank you!
One thing missing, though, was an agent's perspective; that is, from someone who'd actually sold such a plan. Fortunately, I received an email from one such, who's graciously agreed to let me share her story:
"I'm a financial advisor and licensed insurance agent (since ’97). I moved my family to Samaritans two years ago when that insurance we were promised we could keep was no longer available. It took me some time to get comfortable with the idea of believers sharing burdens like this. In part my skepticism was a result of my training in the industry; insure risk, insure risk, insure risk.
Also, my skepticism was partially anchored in knowing human nature. This year we had a small need, $1,800. The plan worked as explained, and receiving notes of encouragement from all those folks was encouraging. It's a privilege to pray for and encourage those to whom we send our monthly contributions, so to receive it in return warmed my soul.
We have found that generally telling doctors that we are cash pay affords better treatment, better pricing, easier appointment times and we've become much more aware of cost [ed: which tracks with what other commenters have noted] as we don't wish to burden the group any more than is absolutely necessary. It's been eye opening to see just how badly and invasive the insurance industry has injected itself between the doctor/patient relationship. Now, even if the ACA is repealed, I don't think I'll go back to regular insurance."
Thank you, this is exactly the kind of input I was seeking.
So, I think at this point that I need to "move on" from my skepticism of this model, at least insofar as this new product is concerned.
Thursday, October 20, 2016
Goodbye Snoopy
Long time representative of a large financial institution was given his walking
papers. Easily recognized and loved by all, Snoopy is out of a job.
Metropolitan Life has fired Snoopy.
What is the world coming to?
Next thing you know, AFLAC will say goodbye to Yogi and the duck.
Metropolitan Life has fired Snoopy.
The largest U.S. life insurer announced Thursday that it will phase out the use of Snoopy and Peanuts characters in its marketing. It also unveiled a new tagline, “MetLife. Navigating life together,” in what the New York-based company called the most significant change to its brand in three decades. - Bloomberg
What is the world coming to?
Next thing you know, AFLAC will say goodbye to Yogi and the duck.
Health Wonk Review: Mom's always right edition
Peggy Salvatore hosts this week's terrific compendium of health care wonkery, from political prognostications to Big Tobacco.
Not to be missed.
Not to be missed.
Blast from the Past: Penn Treaty in the News
Co-Blogger Bob just sent me this:
"Penn Treaty and its affiliates are so broke that their unpaid obligations for Pennsylvania are expected to top $500 million, "close to or at the 2 percent cap" for annual surcharges on Pennsylvania health-insurance policy premiums"
So says Sean McKenna, spokesctitter for the national life and health guaranty group [ed: basically FDIC for insurance]. And what does this mean?
Well:
"[Pennsylvania] braces for largest health insurance failure in U.S. history"
Sounds ominous, no?
We first wrote of PT's woes almost exactly 7 years ago, when this whole mess began to unravel for them. This news, though, is much bigger: some $4 billion in the hole, perhaps things would have "passed quietly to reinsurance - a sort of insurer underworld of risk-swapping - if Penn Treaty had been liquidated when it was first taken over."
Oh well, hindsight's always 20/20, right?
"Penn Treaty and its affiliates are so broke that their unpaid obligations for Pennsylvania are expected to top $500 million, "close to or at the 2 percent cap" for annual surcharges on Pennsylvania health-insurance policy premiums"
So says Sean McKenna, spokesctitter for the national life and health guaranty group [ed: basically FDIC for insurance]. And what does this mean?
Well:
"[Pennsylvania] braces for largest health insurance failure in U.S. history"
Sounds ominous, no?
We first wrote of PT's woes almost exactly 7 years ago, when this whole mess began to unravel for them. This news, though, is much bigger: some $4 billion in the hole, perhaps things would have "passed quietly to reinsurance - a sort of insurer underworld of risk-swapping - if Penn Treaty had been liquidated when it was first taken over."
Oh well, hindsight's always 20/20, right?
Wednesday, October 19, 2016
Spectacular O'Care Fail
Along with halting the ocean's rise, we were promised that everyone would have health insurance. Hey, they even made it illegal not to have it. And of course this has been a rousing success, and there are no longer any uninsured folks roaming the streets.
Wait, what?
"Why 27 Million Are Still Uninsured Under Obamacare"
I would of course counter: what does it matter? That is, the "why" is irrelevant, only the fact that, 6+ years in, over half of that baseline number (the thoroughly debunked 47 million) still have no health insurance.
But hey, #Winning.
[Hat Tip: FoIB Holly R]
Wait, what?
"Why 27 Million Are Still Uninsured Under Obamacare"
I would of course counter: what does it matter? That is, the "why" is irrelevant, only the fact that, 6+ years in, over half of that baseline number (the thoroughly debunked 47 million) still have no health insurance.
But hey, #Winning.
[Hat Tip: FoIB Holly R]
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