Bottom line: I need a catastrophic major medical plan with a $100,000 deductible, no per-claim or annual caps, and at least a $1 million lifetime maximum (more would be better).
Okay, now from the top:
A few days ago, I received a phone call from a gentleman asking about medical insurance. He's an engineer (no, not that kind) with a company of about 2 or 3 thousand employees, all of whom are in the same boat: covered by a generic-looking group medical plan (office visit co-pays, a drug card, deductible and 80/20, etc). Oh, and there's a very generous $5 million lifetime maximum. The catch: a $100,000 annual cap on all expenses. So if there's a big claim, once it hits $100 grand, "you're on your own." This has the gentleman (and his coworkers) understandably nervous. I proposed a cat (catastrophic) plan with a $100,000 deductible. This would basically pick up after/when someone hits their $100 thou annual max. He loved that idea: he had apparently been speaking with other agents, and they were all pushing him to look at $3,500 or $5,000 deductible (HDHP) plans.
So I said I'd look into it, and get back to him. I popped over to an "insurance warehouse" I've used before, because I knew they'd have one. And indeed they had (almost) exactly what I was looking for: their plan had a $100,000 deductible, and a $1 or $2 million cap lifetime max. But there were some internal limitations ($400/day for hospitalization, for example) that were bothersome, and the plan seemed kinda pricey: about $70 a month (he's already paying about $160 per month for the underlying group plan).
Presuming that there were other such plans available, I started Googling, and eventually figured out that there ARE other cat plans out there, but they're all "affinity" (one must be a lawyer, or doctor, or engineer, etc). I did find one very decent plan offered through an engineers' association: good benefits, decent rates, a $50,000 deductible (which would mean some double-coverage, but certainly not a deal-killer).
So I sent him the link to the engineers' plan, explained that he would be better off with this than the one that I could sell him, and maybe I can help him with something else? Well, he called me back, absolutely stunned that I'd push something I wouldn't make anything from, and said "look, I'm not the only guy in this boat. You come up with something like this that YOU can sell me, and I'll put you in front of the other 2 or 3 thousand guys."
Ooookay, you have my attention, sir.
The challenge is finding a carrier to place this with. I have a limited timeframe (I don't want to keep my contact "on hold" any longer than absolutely necessary, for obvious reasons). If you have access to an appropriate plan, please drop me an email, and perhaps we can help this gentleman and his coworkers.