Health Care Reform Information
OptiMed Limited Medical plans fall outside the scope of the new Health Care Reform as “excepted benefits” as defined under HIPAA and the Public Health Service Act (PHS Act).
Do you have groups with employees who are not eligible for Major Medical?
If so, you may want to learn more about OptiMed Guaranteed Issue Limited Medical as an option. In many states groups can be written down to 5 lives.
OptiMed MiniMed: Limited Medical Indemnity Plans
- Guaranteed Issue
- No-Pre-existing Condition Limitations for Group of 10 or more
- $100,000 Per Person Calendar Year Maximum
- Assignment of Benefits
- Flexible Plan Designs (Customization Available upon request)
- Fully Insured Prescription Drug Program
Mini-medical plans fill a rapidly growing niche in the group health insurance marketplace by assisting employers to provide their non-covered employees real benefits that can help with employee retention without causing serious financial pain.
OptiMed Mini-medical plans are limited indemnity benefit plans, meaning they pay only a limited benefit for a covered service at an affordable premium for both employers and employees alike. Mini-medical plans are not to be confused with major medical insurance and they are not meant to replace major medical plans.
What is the Target Market?
1. Employer groups who currently have a major medical plan in place but have part time and hourly employees who do not qualify to participate or who cannot afford the plan.
2. Employer groups who can no longer afford the escalating costs of a traditional plan or who have never considered offering benefits.
3. Franchisor groups who are looking to offer a program to their franchisees to assist retention rates and employee morale.
1/1/2012 Cases: We work to make New Group Implementation simple!
OptiMed provides single sourced administration and as a direct result we are extremely flexible, responsive and work hard to take the burden off of both the broker and HR with new case submittal or rollover business. Our enrollment and fulfillment process is streamlined and rapid.
Rollover business accepted with a simple electronic eligibility file!
Contact Angela Moore or Heather Matias for the latest OptiMed brochure and agent guide, which features our current plan designs. Proposals are available upon request.
MetLife expects to pay more than $1.36 billion in policy dividend payments to eligible life insurance policyholders in 2012.1 This significant payment reinforces our continued commitment to providing policyholders with value.
Click here for details about MetLife's 2012 Dividend Scale. Despite the uncertainty in the financial markets and a sustained low interest rate environment, MetLife's long standing disciplined approach toward making financial decisions has allowed us to continue this tradition of providing our policyholders with these payments.
Effective January 1, 2012, the dividend formula for MetLife Promise Whole LifeSM will change to provide clients with better overall value for their policies. All newly and previously issued MetLife Promise Whole Life policies will see this positive impact on non-guaranteed cash value. Please see News For Life today for more information.
This change and the 2012 dividend scale have received preliminary approval by the board of directors of the issuing companies for implementation. They are expected to receive final approval by the boards in February 2012.
1. "MetLife" consists of Metropolitan Life Insurance Company, MetLife Investors USA Insurance Company, New England Life Insurance Company and General American Life Insurance Company, all of which are wholly owned subsidiaries of MetLife, Inc. This amount is expected to be declared by the boards of directors of the issuing companies in February 2012 and will include all participating whole life policies.
MetLife Promise Whole Life is issued by MetLife Investors USA Insurance Company on Policy Form 5E-12-10 and in New York only by Metropolitan Life Insurance Company on Policy Form 1E-12-10-NY. All guarantees are subject to the claims-paying ability and financial strength of the issuing insurance company. November 2011
As MetLife Promise Whole Life was a new participating product as of January 3, 2011, it has no history of paying any dividends.Contact Steve Gresso at 713.977.0611 for more information.
