--of these emails I've received from insurance carriers in past month--looks like dejavu (only on national level) of when KY had healthcare reform.
Within 6 months we only had 1 carrier left -it was repealed following year and took next 10 years to get most carriers back.
Subject: The Principal to Exit Medical Insurance Business
<!-- Date -->Date: Oct 13, 2010 11:45 AM
As you may know, The Principal? made an announcement on October 1, 2010 to exit the medical insurance business (insured and self-insured). This decision impacted their fully insured insured medical, self-funded medical and flexible spending accounts.
North America Administrators, L.P. (NAA) can assist you with clients or prospects wanting to explore this approach or continue providing their employee benefit plans on a self-funded basis. This would include medical, dental, vision, STD, HRA, HSA, FSA plan designs. We have competitive risk transfer products for groups as small as 35 or more covered employees.
We welcome an opportunity to work with you!
G. Bruce Thompson
North America Administrators, L. P.
--:nooo: Been writing business with Principal for over 25 years---this will get real interesting in the next 6 months --
+++++++++++++++++++++++++++++++
another insurance related email I got from BC BS TN on breakdown of premium dollar
Where Your Premium Dollars Go
The rising costs for medical services continue to drive premium dollars higher. At BlueCross BlueShield of Tennessee we work hard to keep premiums as affordable as possible and to ensure that the premiums you pay are going toward the care you receive. In fact, we pay out nearly $46 million in claims each working day to the providers that deliver your care.
So, how much does BlueCross BlueShield of Tennessee spend on health care costs? The graphic below shows how our members? premium dollar was used in 2009:
As seen in the graphic above, the majority of premium dollars currently paid by our members is spent directly on patient care. The Patient Protection and Affordable Care Act of 2010, requires insurers to spend specific amounts on care. For large employer group coverage that means 85 percent of every premium dollar must be spent on patient care. For small employer groups and individuals, it?s 80 percent. The level of transparency the law requires will help make certain that future premium increases reflect only the rising costs of care ? and that all Americans recognize and act on our shared responsibility for bringing those costs under control.
Within 6 months we only had 1 carrier left -it was repealed following year and took next 10 years to get most carriers back.
Subject: The Principal to Exit Medical Insurance Business
<!-- Date -->Date: Oct 13, 2010 11:45 AM
As you may know, The Principal? made an announcement on October 1, 2010 to exit the medical insurance business (insured and self-insured). This decision impacted their fully insured insured medical, self-funded medical and flexible spending accounts.
North America Administrators, L.P. (NAA) can assist you with clients or prospects wanting to explore this approach or continue providing their employee benefit plans on a self-funded basis. This would include medical, dental, vision, STD, HRA, HSA, FSA plan designs. We have competitive risk transfer products for groups as small as 35 or more covered employees.
We welcome an opportunity to work with you!
G. Bruce Thompson
North America Administrators, L. P.
--:nooo: Been writing business with Principal for over 25 years---this will get real interesting in the next 6 months --
+++++++++++++++++++++++++++++++
another insurance related email I got from BC BS TN on breakdown of premium dollar
Where Your Premium Dollars Go
The rising costs for medical services continue to drive premium dollars higher. At BlueCross BlueShield of Tennessee we work hard to keep premiums as affordable as possible and to ensure that the premiums you pay are going toward the care you receive. In fact, we pay out nearly $46 million in claims each working day to the providers that deliver your care.
So, how much does BlueCross BlueShield of Tennessee spend on health care costs? The graphic below shows how our members? premium dollar was used in 2009:
As seen in the graphic above, the majority of premium dollars currently paid by our members is spent directly on patient care. The Patient Protection and Affordable Care Act of 2010, requires insurers to spend specific amounts on care. For large employer group coverage that means 85 percent of every premium dollar must be spent on patient care. For small employer groups and individuals, it?s 80 percent. The level of transparency the law requires will help make certain that future premium increases reflect only the rising costs of care ? and that all Americans recognize and act on our shared responsibility for bringing those costs under control.
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