Does anyone know anything nearly this Insurance co. for Seniors?
This is the web site http://www.univhc.com/index.asp... It really sounds to right to be true. The name of the company is Universal Health Care. It is offered to Seniors on Medicare. Just wondered if anyone have had an experience moral or bad beside this company.
Answers:
I just checked ambest.com. AM Best does not rate this company. That's not to speak that they're not reputable; they may just be too small and/or too foreign to have made the radar.
You can telephone or visit the website of your state insurance department to determine if nearby have be any complaints filed against the company. As long as you can verify that they are a licensed carter in your state, you can be assured that they can be held adjectives for their policy provisions.
Do keep contained by mind that if they're a new, growing company, they own likely set premiums low to gain flea market share. Be prepared to shop around at renewal time, as your premiums may increase significantly.
rob@safemoneyconcept.com
I am glad to see it happen. From an insurance agent's point of outlook, it is a no brainer. The company is Medicare-approved which is no easy exploit. I am 60 and am glad to see this happen. I see it as the emergence of the privitization of Medicare. You can see by the plan that it is possible for a private company to administer health perfectionism for a lot smaller quantity than the government (no big surprise) and abundantly less than the HMO's. If you reside within Florida, I can assist you.
This one took a little while for me to track down, so I grasp why you're confused! Here's what I found:
1) This company is fully licensed and in virtuous standing with the Florida Dept. of Insurance, where on earth the Company is domiciled. It appears UHC does all its business contained by FL.
2) Some previous answerers have stated the Company's deficiency of a AM Best rating shows it isn't monitored by anyone. This is incorrect. By virtue of its licensure near the FL Dept. of Insurance (which is mandatory with Medicare Advantage and Part D plans), the FL Insurance Department is responsible for ensure this Company has passable monetary reserves to pay claims and other expenses. Further, Medicare contracts are administered differently than contracts issued by private insurers -- the feds CLOSELY monitor the insurer's holdings. If a company go belly up, members are transitioned into another plan.
3) The Company's claims aren't any different than others that are offering like product.
4) However, the differences become apparent when you compare the benefits UHC offer to enrollees. Here's a list of stand-alone Medicare Rx plans offered surrounded by Florida:
http://www.medicare.gov/medicarereform/m...
The premium is actually a bit high than others; but most of all, the number of popular drugs it covers (known as its "formulary") is the LOWEST on the entire record!
Here's a list of FL Medicare HMO/PPO plans:
http://www.medicare.gov/medicarereform/m...
Again, you see the premium is ok, but UHC doesn't submission Part D coverage with these plans.
To truely compare adjectives available plans, go to www.Medicare.gov and use the "Compare Medicare Prescription Drug Plans" go through tool and the "Learn More About Plans in Your Area" turn out tool. You'll be given charts that show you what's available to you based on where on earth you live.
AM Best does NOT have a rating for this insurance company. I would NEVER EVER EVER recommend buying insurance from an unrated company. It channel that NO ONE is monitoring their capacity to reward out claims.
It's NR-5. When it's too new, or too small, it's NR-1 or NR-2. This is flat out "not followed". They also do no appear to be a publicly traded company - which process no financial statements on file next to the SEC.
If you REALLY REALLY want to go near them, call the BBB first and see what they articulate.