 | Employer Medical Stop Loss | | Currently the majority of business is produced on behalf of the IHC Group carriers (Madison National Life, Standard Security Life Insurance Company of New York, Independence American), which issues policies that allow self-insured employers to manage the risk of excessive health insurance exposures by limiting aggregate and specific losses to a predetermined amount.
Our managing general underwriters (MGUs) are responsible for underwriting accounts, billing and collecting premiums, paying commissions to agents, third party administrators and/or brokers, and processing claims. |
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| Major Medical for Individuals and Families | | | Independence American offers consumer driven health plans that are health savings account (HSA) qualified, as well as traditional PPO, co-pay advantage plans and high deductible health plans. We make plans available in the self-employed market and for those not covered by employer group plans. Studies suggest the demand for individual medical products is growing rapidly due, in part, to employers reducing the number of employees eligible for group coverage, and in part due to an increase in the number of self-employed individuals. The most popular of our plans, and the fastest growing, are federally qualified high deductible health plans that allow the policy or certificate holder to establish an HSA. We integrate our own HSA administration seamlessly with our high deductible health plans. |
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| Small Group Major Medical | | Independence American’s small group health plans assist employers with 2-50 employees, and offer high deductible health plans with health savings accounts (HSAs), in addition to low deductible alternatives.
This fully insured major medical coverage is designed to work with health reimbursement accounts (HRAs) and/or HSAs, which are implemented by employers that wish to provide this benefit as part of an employee benefit plan. These plans are offered primarily as Preferred Provider Organizations (PPO) plans, and provide a variety of cost-sharing options, including deductibles, coinsurance and co-payment. These plans, also called consumer driven health plans (CDHPs), are designed to provide participants with economic incentives to be informed consumers of health care. Plans sold with an integrated HSA are the fastest growing segment of small group medical. |
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| Short Term Medical (STM) | | Independence American offers short term medical solutions to individuals with temporary insurance needs, and is the largest writer of 12-month STM products in the United States. Nearly all applications are issued online.
Among the typical purchasers of short term products are self-employed professionals, recent college graduates, persons between jobs, employed individuals not currently eligible for group insurance, and others who need insurance for a specified period of time. |
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| Dental – Individual and Group | | Independence American offers individuals and group dental plans. With aggressive rates, plan flexibility and private label opportunities, our dental products are among the most competitive on the market today.
The dental portfolio includes indemnity and PPO plans for employer groups of two or more lives and for individuals within affinity groups. Employer plans are offered on both employer paid and employee voluntary basis. |
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