Posted on 10/26/2021 12:10:13 PM PDT by US Navy Vet
They canceled me about 25 years ago They said since I was divorced/single with children I would probably get desperate and burn the house down for the insurance money I was flabbergasted but couldn’t do anything about it Same company
“If what you say is true, then the insurance companies and brokers did give us bad information. We had to switch from an employer plan to individual plan - a lot more money.”
If you lost your group plan say Nov 1st and had a $350,000 medical claim on Nov 13rd, you have 31 days under federal law to sign up for a individual plan after Nov 1st. That insurance is retroed back to Nov 1st(again under federal law) even if you signed up for it on say Nov 28th. and your claim on the 13th would have been paid.
He’s in Iowa.
I had my independent agent reshop our home and car about a year ago. He ended up splitting the two up, because the Homeowners insurance through a company called Openly was cheaper than other carriers’ bundled policies. According to my agent, they are fairly new, but were started by two executives that left Liberty Mutual and are backed by another insurance company.
That’s ood. I have had State Farm for over 30 years and have made multiple claims.
I'm a smart dude, but that stuff just baffles me - I'll be prayin'
Insurance- you're betting you'll have a disaster, they're betting you won't.
setter wrote:
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“The trouble is, by law, the sign-up period for insurance starts in January. So for 2 months we couldn’t even get coverage”
Someone gave you really bad information.
You had a “qualifying event”-losing coverage through no fault of your own.
Any insurance company in your area that sells individual coverage has to pick you up the day you lost coverage with no medical questions and no pre- existing or waiting period.
This is a federal law and applies to all 50 states.
I work in the health insurance industry.”
Does it also apply to medigap plan G coverage that one purchases from a company?
Normally one must wait till the open enrollment to switch companies with no questions asked.
How did they find out you were divorced/single with children?
Did you file a complaint about it?
why are they cancelling it?
We were cancelled by Jake from State Farm. Allstate picked us up. You want to get it done before you actually expire, especially if you carry a mortgage.
“Does it also apply to medigap plan G coverage that one purchases from a company? Normally one must wait till the open enrollment to switch companies with no questions asked.”
Not really the same thing. People on medicare generally do not lose their coverage so they have to wait for the open enrollment to change plans or companies.
I had a company insured who was paying for med sups for the retirees and the company went bankrupt and the people lost their coverage through the group but the med sup company just moved them to indiviual payment and billed the people direct.
QE is generally for under age 65. Someone gets married -adding a spouse or a new baby, someone quits their job, employee goes from F/T to P/t and lose their health insurance benefits as a result.
Maybe Nationwide? We had a significant claim several years ago, and they did not cancel us or raise rates in what seemed to be unfair manner (MANY in our area had to have new roofs due to hailstorm).
The downside of it is that the deductible is high, I think 4% of the market value of the house, IIRC (which was unchanged related to the claim).
Call Jenni Brothers at Gallagher, Regency Circle.
Prayers up!
I had a similar problem with State Farm many years ago, but with my auto coverage. I had been hit three times by other drivers, while I was sitting perfectly still in traffic, and they decided they were going to put me in their risk pool because of it. I called my independent agent who hooked me up with another company. I've never owned a home, so only have renter's insurance, and thankfully, I've never had to use it in all the year's I've had it. Wish you luck.
I’m trying to remember every detail about it. We went through our broker and directly to insurers. There was a hiccup having to do with the state licensing and who would be providing insurance in our state in the next year.
Fortunately nothing major happened, I suppose if something did occur we would have gotten the advice you are giving from someone else.
happened to us with Allstate. Good luck!!
Me too. In fact they wrote us a check for $45,000+ this spring for a new roof right on the spot (hail damage). Took the adjustor about an hour to look, measure and do the paperwork.
“Fortunately nothing major happened, I suppose if something did occur we would have gotten the advice you are giving from someone else.”
Lawyers love these cases. You would have won in an instant if no one told you about it.
I enroll and terminate employees for my groups (they send me new hires info andtermed employees). I send the ex employee an email and also a certified letter telling them their options.
I had a close call 4 years ago and learned my lesson.
One kid was a detail guy at a car dealership 19 years old perfect health who had quit. I neglected to send out the info to him because I knew he had a new job with benefits.
Turned out he had a large claim from an accident but I was lucky enough to sign him up on get this..the 31st day. I though for sure my E&O insurance would have been used.
Lucked out and lots of prayer.
Lord please let US Navy Vet find the right insurance agent. Amen
Not only did nobody tell us, they told us the opposite, in writing and via emails. I protested vociferously, particularly to the broker, that how could the sign-up period be January for a person dropped in November? Why can they drop people mid year and leave them no option? etc. I guess I had a really bad broker.
But ugh at the idea of lawyers. Other than a small claims case filed 30+ years ago that settled quickly I have never sued anyone. Been involved in other people’s legal drama, know lots of people in the legal field. It’s such an emotional and financial drain and time waster most of the time. Of course, hit with a massive bill we would have been forced.
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