To room owners and cue makers (fairly long)

[prewarhero]

I wanted to get some feedback from you folks if I may.
I had tried hard to do some work on behalf of those that own pool rooms and cue makers. I am a financial planner, and I spoke to Dan Dishaw at the American Cue Makers association a while back in discussing a possible group plan for the association that would allow members to receive discounted rates on Health, Life, disability, and other type of insurance along with setting up some form of retirement planning that could be universal to those who are involved in the organization.
After speaking to him along with some other cue makers and room owners it seemed there was a major need, since health care costs are going up ever year.
I set out to find a group to insure the association and possibly pitch the idea to the BCA as well. NO COMPANY would insure an association, it appears as though ACA, BCA, and if a Pool room association were to be set up, none would qualify as an insurable group. However, if there seems to be enough interest in the community for some type of voluntary plan with each room or for each cue maker and their family I will look deeper into this and see what more I can do to help the community. Let me know some feedback or if you folks have any questions please ask away.
thanks,
Jordan

 

[Teddy Harris]

NO COMPANY would insure an association, it appears as though ACA, BCA, and if a Pool room association were to be set up, none would qualify as an insurable group. However, if there seems to be enough interest in the community for some type of voluntary plan with each room or for each cue maker and their family I will look deeper into this and see what more I can do to help the community. Let me know some feedback or if you folks have any questions please ask away.
thanks,
Jordan

If they won't insure an association, what type of groups will they insure?
What are the qualifications for an insurable group?

 

[prewarhero]

Hi Ted,
It is not the size of the group that is a problem here. There are two main reasons. Blue cross and the like feel that an association such as the ACA and BCA has a membership not typical to the actuarial tables they base rates on. And secondly, it is a major law, that one can not create a "group" for the purpose of discounted insurance rates. However, we all know the ACA as been around for a long time and did not start up for this purpose, yet I got nowhere with all the insurance companies.

What can we insure?
Well, If you are say a cuemaker, and your wife and and say son, and one employee, you have an insurable group. All you need is three people for a group. With some of the other policies such as disibility insurance (which BTW, is so important these days) you may have accsess to more basic stripped down plans individuals may not have access too and thus, a lower price.

What I try and do for all the small busines' I work with is to look at all the different plans out there and see what works best for them, in a sense that there are (most of the time) more needs then recources and find what we call premium effective programs. I still think this community should have some recource other then being suckered by slick talking insurance agents on an individual basis-Especially with retierment planning.
Jordan