Assurant selling/close health insurance

[InTheSticks]

Does this impact anyone here?

https://www.assurant.com/en/NewsRoo...nd-Lifestyle-Protection-Products-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?

 

[REWahoo]

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.

 

[MichaelB]

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.

 

[InTheSticks]

Less competition is never good for consumers.

 

[MRG]

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.

 

[Silver]

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.

 

[MooreBonds]

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.

 

[MBSC]

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