48 Hour cool off period

Sep 29, 2008

  1. midwestbroker
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    midwestbroker Guru

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    I contacted some carriers about having a letter to waive the 48 hour cooling off period that the client could sign.

    I have not heard anything yet (they did not sound so positive about getting CMS to approve it).

    If anyone finds out otherwise please let us know!
     
  2. mcday
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    mcday Super Genius

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    How would you introduce the letter?

    I don't see how you could do it without breaking the 48 hour rule. If it can be done, I would love to hear how.
     
    mcday, Sep 30, 2008
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  3. allhealthandlife
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    allhealthandlife Guest


    Is there anything in rule that prevents us from cross selling to other members of household who are not the MA/PDP prospects you had an appointment with. Sometimes one spouse clearly wants Med Supp while the other wants MA or what if you make the appointment with wife for MA and the husband is a good FE prospect. If you never spoke with him about MA or PDP is it complaint to pitch him on FE while you there ?
     
  4. retread
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    Mrs. Jones, at our appointment tomorrow I will be discussing Medicare and Medicare Supplement policies. I will also show you some Medicare Advantage options, including <Company A> PPO, <Company B> PPO, and possibly a Private Fee For Service option if it will benefit your situation. You will certainly want to explore some Prescription drug plans... I have several of them to show you. Is that OK? Good. Is Mr. Jones available?

    Mr. Jones, at our appointment tomorrow, I will show you some Final Expense plans that will protect your wife when the need arises. Do you mind if our meeting coincides with your wife's? Good... this will shorten the time needed for both appointments. See you tomorrow, then. Bye.
     
    retread, Sep 30, 2008
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  5. jdeasy
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    jdeasy Guru

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    To me, that looks like a great idea and way to schedule the appointment. That's also my plans of how to do it. However, Pyramid is telling me that it would be a CMS violation to schedule in this manner.

    I feel that they are BS'ing me. Do you have nay insight as to whether this would get an agent crossed up with CMS?
     
    jdeasy, Sep 30, 2008
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  6. retread
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    I think some MAOs are afraid of adverse CMS actions against them, so they over-react to the vagueness in the rules. I think if a rule is vague, then it is a poor rule that can't be successfully enforced. I believe in following the rules... just make them clear to me, but don't read into what is not there.
     
    retread, Sep 30, 2008
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  7. midwestbroker
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    midwestbroker Guru

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    You are allowed to leave other product info behind for them to look at during the 48 hour cool off period. If the client wants to talk about it then, present the letter.

    Agent: Mr Jones, here is some info on final expense coverage for you to look at.
    Mr Jones: How much does it cost?
    Agent: According to Medicare, I am only allow to discuss Medicare Advantage plans at this appointment, unless you give me permission to do otherwise.
     
  8. MSIS
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    They are trying their best to discourage the selling of MA plans. You can't even sell a part D on the same appointment which is even more ridiculous.
     
    MSIS, Sep 30, 2008
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  9. mcday
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    mcday Super Genius

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    The whole thing is crazy! I'm taking steps to protect myself (signed release from prospect), but this whole deal is out of control. Next thing you know, we'll be forced to sign up MAPD plan over a 48 hour period... get the MA portion one day and the PD 2 days later. CRAZY!!!
     
    mcday, Sep 30, 2008
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  10. jdeasy
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    jdeasy Guru

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    Actually, according to one of my FMO reps, that was tossed around by the CMS rule makers to make it a two appointment sale on an MA. If they had implemented that, you would have to go back a second time, at least 48 hours after the presentation, to take the app.

    Wouldn't surprise me at all for that to be in the 2010 rules.
     
    jdeasy, Sep 30, 2008
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