I am from alabama we are considering cinergy insurance is it
by Guest » Tue Jun 01, 2010 04:47 am
We want information about cinnergy insurance
Total Comments: 3
Posted: Tue Jun 01, 2010 04:48 am Post Subject: cinergy insurance
is cinergy insurance a good company
Posted: Wed Jun 02, 2010 03:54 am Post Subject: Cynergy
Sounds more like an Electric Power Company to me? Check their AM Best Ratings you can look them up on line. Should be an A or higher rating...
Posted: Wed Jun 02, 2010 06:04 am Post Subject:
Cinergy Health & Life is NOT an insurance company. It is an insurance agency. In California, they are appointed to represent Guarantee Trust Life Life Insurance Company (AM Best B+/negative outlook/size $25-$50 million) and Starr Indemnity & Liability Company (AM Best A/stable outlook/size $500-$750 million). In other states, they also represent Companion Life Insurance Company (AM Best A+/stable outlook/size $1.5-$2 billion).
They have over 100 "endorsed agents" listed on the CA Dept of Insurance website, all are "non-resident producers" (all are probably resident-licensed in Florida), some of whom have appointments with other insurance companies, but it cannot be determined if they are actively writing new business with any of them. It is unlikely that they have any offices or resident agents in Alabama.
According to their website they offer "short term" and "limited" medical insurance plans, and also "critical illness" supplemental insurance plans, as well as the more dubious "medical discount" plans (which are increasingly receiving scrutiny by state insurance regulators) through Patriot Health Florida, Inc. (not listed by AM Best, because it's not an insurance company), whose business address is actually in New York.
Medical discount plans from Patriot range in price from $12.88 (individual "tiered dental") to $49.88 per month ("family premier"), but with them one is only provided with "plans" that offer "discounts to certain health care providers for medical service and do not make payments directly to the providers for medical services". The same or similar discounts can probably be negotiated by the patient directly with the provider, without the need to pay the monthly "dues".
Actual out of pocket expenses plus the cost of the monthly dues could be more (or less) than the cost of a true HMO and copayments for covered service depending on one's health status.
You would definitely want to look closely at the descriptions of what they offer, because none of it is the more valuable (and more expensive) HMO, PPO, or "major medical" insurance most people would prefer to have in the event of a truly serious illness or injury.
It's probably better to find a local agent/broker (someone you can actually meet with face-to-face, instead of a voice at the end of an 800 number/,) who represents insurance companies whose names you recognize, such as Blue Cross/Blue Shield, Aetna, Cigna, United Healthcare, and any number of others. There is far more competition in health care than Obama and the Democrats allow, and you should be able to find good coverage for a fairly reasonable amount of premium, albeit more than $50 per month for a family.
================================================
Insurance company "financial strength ratings" are independent, third-party evaluations of publicly available financial reports, SEC filings, and other non-public information that are used to analyze an insurance company's ability to pay claims. "FSRs" are not a guarantee of an insurer's ability to pay claims, and are subject to change. There are several companies that provide similar financial analyses, among them AM Best, Standard & Poor's, Duff & Phelps, and Moody's.
There are 14 AM Best financial strength ratings from A++ to D, plus E, F, S which indicate that an insurer is under regulatory supervision, in liquidation, or suspended (current financial information is untimely or unavailable). For a copy of the AM Best Guide to Financial Strength Ratings go to:
http://www.ambest.com/ratings/guide.asp
(click on the Guide under the orange "Related Links" heading)
Posted: Tue Jun 01, 2010 04:48 am Post Subject: cinergy insurance
is cinergy insurance a good company
Posted: Wed Jun 02, 2010 03:54 am Post Subject: Cynergy
Sounds more like an Electric Power Company to me? Check their AM Best Ratings you can look them up on line. Should be an A or higher rating...
Posted: Wed Jun 02, 2010 06:04 am Post Subject:
Cinergy Health & Life is NOT an insurance company. It is an insurance agency. In California, they are appointed to represent Guarantee Trust Life Life Insurance Company (AM Best B+/negative outlook/size $25-$50 million) and Starr Indemnity & Liability Company (AM Best A/stable outlook/size $500-$750 million). In other states, they also represent Companion Life Insurance Company (AM Best A+/stable outlook/size $1.5-$2 billion).
They have over 100 "endorsed agents" listed on the CA Dept of Insurance website, all are "non-resident producers" (all are probably resident-licensed in Florida), some of whom have appointments with other insurance companies, but it cannot be determined if they are actively writing new business with any of them. It is unlikely that they have any offices or resident agents in Alabama.
According to their website they offer "short term" and "limited" medical insurance plans, and also "critical illness" supplemental insurance plans, as well as the more dubious "medical discount" plans (which are increasingly receiving scrutiny by state insurance regulators) through Patriot Health Florida, Inc. (not listed by AM Best, because it's not an insurance company), whose business address is actually in New York.
Medical discount plans from Patriot range in price from $12.88 (individual "tiered dental") to $49.88 per month ("family premier"), but with them one is only provided with "plans" that offer "discounts to certain health care providers for medical service and do not make payments directly to the providers for medical services". The same or similar discounts can probably be negotiated by the patient directly with the provider, without the need to pay the monthly "dues".
Actual out of pocket expenses plus the cost of the monthly dues could be more (or less) than the cost of a true HMO and copayments for covered service depending on one's health status.
You would definitely want to look closely at the descriptions of what they offer, because none of it is the more valuable (and more expensive) HMO, PPO, or "major medical" insurance most people would prefer to have in the event of a truly serious illness or injury.
It's probably better to find a local agent/broker (someone you can actually meet with face-to-face, instead of a voice at the end of an 800 number/,) who represents insurance companies whose names you recognize, such as Blue Cross/Blue Shield, Aetna, Cigna, United Healthcare, and any number of others. There is far more competition in health care than Obama and the Democrats allow, and you should be able to find good coverage for a fairly reasonable amount of premium, albeit more than $50 per month for a family.
================================================
Insurance company "financial strength ratings" are independent, third-party evaluations of publicly available financial reports, SEC filings, and other non-public information that are used to analyze an insurance company's ability to pay claims. "FSRs" are not a guarantee of an insurer's ability to pay claims, and are subject to change. There are several companies that provide similar financial analyses, among them AM Best, Standard & Poor's, Duff & Phelps, and Moody's.
There are 14 AM Best financial strength ratings from A++ to D, plus E, F, S which indicate that an insurer is under regulatory supervision, in liquidation, or suspended (current financial information is untimely or unavailable). For a copy of the AM Best Guide to Financial Strength Ratings go to:
http://www.ambest.com/ratings/guide.asp
(click on the Guide under the orange "Related Links" heading)
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