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Provident American Corporation, doing business as THE PROVIDENT was founded in 1889. Provident provides specialty life and and
managed health care to small groups and individuals. Provident reinsures health claims above $45,000 per individual. Provident trades on the NASDAQ exchange- (symbol PAMC)
Special Features
Provident Plans are affiliated with different associations. As a
member of Provident and these associations, you will receive benefits such as
health education materials, and toll free confidential health support for chronic illness, substance abuse, Eye ware and hearing discounts. Some Provident plans offer an optional dental plan.
Rates and Service
Initial rates are amongst the lowest cost.
In certain areas Provident offers plans that are 20% below other comparable carriers. Customer service is good. Wait times with the Prescription service NPA are frequently less than 1 minute. Claim are a little slower than average, averaging about 35 days based on our client surveys.
Underwriting and Billing
Underwriting is thorough. Expect medical records to be asked for.
You would expect thorough underwriting with rates somewhere between 10-35% less than other carriers. Billing is by monthly bank draft. There is a nonrefundable application fee that varies to as high as $35.
Renewal Rate History
Any carrier with very low initial rates will have renewals higher
than industry averages. You should expect this carriers rates will rise more than the industry averages. As of 9/98 we lower our rating on Indiana Quest plans due to high renewals.
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