About Golden Rule

Golden Rule has been recognized by Ward Group as one of the 50 Life-Health Top Performers -- companies that have done the best job of balancing financial safety, consistency, and performance over the past five years, as reported in Business Insurance (August 23, 2004). Golden Rule has made the Benchmark 50 Group for eight consecutive years.

Golden Rule is rated A (Excellent) by A.M. Best, and A+ (Strong) by Standard & Poors. These world-wide independent organizations examine insurance companies and other businesses, and publish their opinions about them. These ratings are an indication of our financial strength and stability.

History

Golden Rule was founded on November 16, 1940, by M.A. and his wife, Mary Frances.

In 1948, M.A. and Mary's son, Pat, graduated from St. John's University and returned to Lawrenceville to work for the family business. In 1949, Pat and Frank Ladner (a friend from college) established the L & R Insurance Agency, Inc., a general agency that was to serve the sales needs of Golden Rule.

In 1959, Golden Rule employed just 32 people.

Home Office

Indianapolis Office

Tremendous Growth

Due to the tremendous increase in business, Golden Rule expanded and moved its operations in 1961 from the Rooney home and the Annex to the east side of Lawrenceville's town square. The Company's staff increased to more than 150 employees in 1970. While maintaining its Home Office operations in Lawrenceville, Golden Rule opened another administrative office in Indianapolis, Indiana.

In September of 1977, the Company undertook a unique television and radio advertising campaign to increase the public's awareness of Golden Rule. The first advertisement, titled "Red is for Monday," depicted Golden Rule's color folder system for filing claims as the secret to the Company's quick claims processing. This advertising campaign positioned Golden Rule in the marketplace and helped to set the stage for the Company's major growth in the 1980s.

The Company's top five sales brokers designed a new individual major medical plan called Inflation Guard. The product provided coverage for hospitals' most common semiprivate room rate, so the policyholder would be protected regardless of how much the room rates increased over time.

The Company embarked on a national expansion by licensing independent brokers to provide Golden Rule products to its clients.

Industry Leadership

In June 1985, A.M. Best, the nation's leading evaluator of insurance companies, assigned Golden Rule an "A" (Excellent) rating for the first time. This rating is an indication of a company's financial strength and stability.

Golden Rule maintained its role as a leader and innovator in the insurance industry with the introduction of new products in the 1990s.

After extensive market research, the Company introduced Asset-Care in July 1990 -- a retirement account that protects the policyholder in many different ways.

Also in July 1990, Golden Rule introduced Shared Risk (now titled Basic Plan), a basic insurance plan designed to cover large, unexpected health care expenses. This product lowered the cost of health insurance by 30 percent while providing solid coverage.

In 1993, Golden Rule offered Medical Savings Accounts now called Health Savings Accounts, to its employees.

On August 21, 1996, the Health Insurance Portability and Accountability Act (HIPAA) became law. Golden Rule was instrumental in working with Congress to pass the measure and provide major new tax benefits for small businesses and the self-employed.

Under HIPAA, contributions to MSAs were 100 percent tax-deductible, and funds used for medical expenses were never taxed. Interest on MSAs accrues tax-deferred and is never taxed if used to pay for medical care.

Golden Rule continues to look to the future of the health care industry and create new and innovative products.

More more information on specific plans offered by Golden Rule click here.

To get quotes from Golden Rule click here or call us toll-free at (888) 925-3874.