I would strongly discourage any small business owner from purchasing this health insurance. Or, if you can't resist the pitch, ask your agent for specific details about each component of your offering and verify acceptance of the specific offering names
—My "vision" plan (EyeMed Vision Care) was not accepted by my long-time eye doctor. No discount received.
—My "prescription" plan produced no reduction in the cost of my monthly prescription.
—My "annual physical" and gyn exam was not covered, probably in part due to a sweeping rider on my policy.
Regarding NASE, I would also strongly discourage membership in this organization. I am highly suspect of its commitment to act in the best interest of its members. It entered an agreement with Mega in 1996. As members, we have no idea if the organization reviews this agreement on a regular basis to determine its value or review its practices. I suspect that if anyone were to closely examine the relationships between these two organization's board of directors,
On its 2007 Form 990, NASE reported app $5 million in membership revenues. That's $5 million in capital from small business owners across the company. I'm sure that many of these business owners—like myself—consider the dues a necessary requirement to access their health insurance programs. (As a related note NASE reported $610,875 in compensation for NASE president Robert Hughes on their 2007 Form 990.) (Source: Guidestar.org)
I just received a notice from MEGA that they will raise my monthly premium by 19.8% beginning in less than 30 days. They "dated" the letter on December 31 - most likely to achieve regulatory compliance. The postmark shows that it was processed on 1/2. The rate change goes into on 2/1. A rather significant rate hike with barely a month's notice. Simply shameful.
I'm dropping both my NASE membership and my "insurance" as soon as their doors open on Monday. I would rather run the risk of living without insurance than to allow myself to be exploited by these two organizations.
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