Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Assurant selling/close health insurance
Old 05-01-2015, 08:53 AM   #1
Recycles dryer sheets
 
Join Date: Jan 2013
Posts: 187
Assurant selling/close health insurance

Does this impact anyone here?

https://www.assurant.com/en/NewsRoom...s-and-Services

In reshaping the Company’s portfolio, Assurant is exploring strategic alternatives for its employee benefits and health business segments, including the sale of each business. Absent a sale of the health business segment, the Company plans to substantially complete its exit from the health insurance market in 2016.

I have not retired yet, but I just wonder, will this impact me when I do next year?
__________________

__________________
InTheSticks is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-01-2015, 09:04 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,107
Quote:
Originally Posted by InTheSticks View Post

I have not retired yet, but I just wonder, will this impact me when I do next year?
Are you an Assurant employee? Do you have Assurant health insurance?

If not, I don't see how it would impact you.
__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 05-01-2015, 09:05 AM   #3
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,455
IIRC Assurant has (had) competitive policy offerings in a dozen states or so. They use other insurers' networks and really don't bring much to the marketplace except price.

We have Assurant policies and will need to find a new insurer for next year, but that is nothing new and with the exchange structure is much easier than ever.
__________________
MichaelB is offline   Reply With Quote
Old 05-01-2015, 09:12 AM   #4
Recycles dryer sheets
 
Join Date: Jan 2013
Posts: 187
Less competition is never good for consumers.
__________________
InTheSticks is offline   Reply With Quote
Old 05-01-2015, 11:08 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Apr 2013
Posts: 5,578
I'm pretty sure another player will buy their book of business, if there's anything worth buying. There's been a lot of consolidating in the insurance industry for years. Not saying that's particularly a great thing IMHO.
__________________
MRG is online now   Reply With Quote
Old 05-01-2015, 02:07 PM   #6
Full time employment: Posting here.
Silver's Avatar
 
Join Date: Sep 2010
Location: Orlando, Fl
Posts: 580
Quote:
Originally Posted by MichaelB View Post
IIRC Assurant has (had) competitive policy offerings in a dozen states or so. They use other insurers' networks and really don't bring much to the marketplace except price.

We have Assurant policies and will need to find a new insurer for next year, but that is nothing new and with the exchange structure is much easier than ever.
We also have Assurant through the ACA marketplace, and have been pleased thus far. We switched in January from Blue Cross, who increased their rates 43% for the exact same coverage. I'm sorry to hear we'll need to change again next year.
__________________
You're only crazy if you're poor. If you have money, you're eccentric.
Silver is offline   Reply With Quote
Old 05-02-2015, 04:32 PM   #7
Thinks s/he gets paid by the post
MooreBonds's Avatar
 
Join Date: Aug 2004
Location: St. Louis
Posts: 2,091
I've had individual health insurance policies a year or two after I started working after college, in the early 2000s. Assurant had the best price by far in 2001 when I started shopping around, and was an Assurant customer for their high deductible HSA policy from about 2001 until about 2007. Then, in my annual quote searching, I saw where Anthem was considerably lower than Assurant's consistent price increasing each year, so I moved over to Anthem, who I've been with since (but my grandfathered HSA policy is not ACA-compliant, so will be getting a new policy, and possibly new carrier, this December).

I didn't have any complaints with Assurant, although I only had one claim that they processed quickly through their network pricing to get me the best price on an mRI that I paid out of pocket.
__________________
Dryer sheets Schmyer sheets
MooreBonds is offline   Reply With Quote
Old 09-10-2015, 12:17 PM   #8
Full time employment: Posting here.
 
Join Date: Jan 2014
Posts: 662
Quote:
Sun Life Financial Inc. agreed to buy the employee-benefits business of Assurant Inc. in a complicated transaction valued at $975 million, the latest sign of consolidation in the insurance industry.
The deal appears to cover only the employee benefits business and not the health business segment.

Details: Sun Life to Buy Assurant’s Employee-Benefits Business in $975 Million Deal - WSJ
__________________

__________________
MBSC is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
need help to see if insurance agent is selling me correct insurance..help dooo42 FIRE and Money 3 08-16-2010 09:51 AM
To close, or not to close? (No-interest credit card accounts). Amethyst FIRE and Money 6 05-24-2009 12:12 PM
ETFs that are "close" but not "wash sale close" FinanceGeek FIRE and Money 1 11-18-2007 11:08 AM
Assurant Health runnerr Health and Early Retirement 32 06-05-2007 12:35 PM
health insurance and effect on increased health care costs Martha Other topics 9 08-08-2006 02:54 PM

 

 
All times are GMT -6. The time now is 08:53 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.