48 Hour cool off period

[Norwayguy]

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.

I guess what drive me nuts about this is that there is no benefit for the agent and no added benefit for the client. Say I sell an MA and seperate PDP during one appointment the client can still think about it for 48 hours and if they don't like the pdp plan I recommended sign up for another plan killing the one I wrote.....

Whats next 1 appointment to explain traditional medicare with out a supplement or MA then a 2nd appointment to explain the supplement a 3rd appointment to explain the MA and finally a 4th appointment where the client is allowed to make a discussion?

Or how about this as a CMS Rule if you sell an MA you must explain every PPO, PFFS plan available to the client each option must take place at a seperate appointment following a 48 hour cool down period....

Can they make the rules any more stupid.

Dear Mr Jones

I am writing to you today wasting both of our times because even though you are not on the do not call list and are a rational being capable of deciding wether or not you wish to meet to discuss your Medicare Options I am no required to send you the enclosed approved marketing material from CMS to try and get you to respond for information so that I then may set up an appointment to go over your Medicare options.

 

[Insuranceman]

I knew when the MA plans first came out that CMS would regulate them to death, but I would never dreamed it would be this bad.

 

[thereaper]

My understanding is this really isn't a cooling off period for your client but rather the time limit you can go back and discuss other products. Also before the first appointment you have to have them sign a form stating what you are going to discuss in the first meeting. If at that meeting they want you to come back and discuss another product you have to get another letter signed stating what products. This applies to any eligible medicare reciepient.

 

[GreenSky]

If you notify the prospect/client in advance, you can talk about MA, PDP, and Med Supps at one meeting. You can't comingle non-health related such as FE or Annuities. I have not heard about LTC but I assume CMS believes that to be non-health. Meeting about health vs. non-health must be separated by at least 48 hrs.

If you are meeting with a REALLY old person, that 48 hours might be the deal breaker!

Rick

 

[midwestbroker]

The reason I have been told of the 48 hour rule was there were agents who would sign clients up for multiple products at one sitting. However, the client would call Coventry and ask about their final expense coverage.

Humana said that in their appointment setting, they are telling clients that they are talking about MA plans, Part D and supplements.

I knew when the MA plans first came out that CMS would regulate them to death, but I would never dreamed it would be this bad.

MA plans have been around for approx 16 years. They were standardized in 1997 in the balance budget act and called Medicare+Choice. In 2003 they were changed to Medicare Advantage and then came the birth of PFFS and Part D.

 

[GreenSky]

MA plans have been around for approx 16 years. They were standardized in 1997 in the balance budget act and called Medicare+Choice. In 2003 they were changed to Medicare Advantage and then came the birth of PFFS and Part D.

Actually they began in 1985 in California. Both FHP and PacifiCare had Medicare HMO plans. PacifiCare acquired FHP in 1996.

Rick

 

[midwestbroker]

Even older then I thought, much like some of the posters here..he he

 

[jdeasy]

If you notify the prospect/client in advance, you can talk about MA, PDP, and Med Supps at one meeting. You can't comingle non-health related such as FE or Annuities. I have not heard about LTC but I assume CMS believes that to be non-health. Meeting about health vs. non-health must be separated by at least 48 hrs.

If you are meeting with a REALLY old person, that 48 hours might be the deal breaker!

Rick

Here's what Pyramid says about that, {I keep using Pyramid because they are the only ones laying out their version of the rules so far},

They say that you cannot schedule an all inclusive appointment. If you schedule an appointment for MA, MAPD and or PDP, you could discuss med sups at that appointment.

If you schedule an appointment for life insurance, med sups, dental insurance or other{?, I don't know what the hell "other" includes}, you cannot discuss MA, MAPD or PDP. If they come up at the meeting, you must schedule an appointment at least 48 hours later to discuss them. They have sent all Pyramid agents a form that states this. The agent and the prospective clients must sign this form and it has to be sent to Pyramid.

I would post this form, but, they claim it is proprietary.

This is obviously Pyramid's version of CMS rules, but, since they are the only ones talking, it's all I've got. I'm not contracted with Humana anymore, one of their agents is telling me that Humana is saying something similar to Pyramid, but, they haven't finalized anything yet.

Wellcare told me today to expect something on thursday, Oct.2nd.

 

[MedSuppPro]

Here's what Pyramid says about that, {I keep using Pyramid because they are the only ones laying out their version of the rules so far}

I give Pyramid credit for their ability to read and react. They have fewer lawyers then other carriers. Way to go Jack Macken!!!

 

[thereaper]

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.

That exact wording was in the Call Letter to all insurers for 2009, the call letter is 267 pages and written last March, I guess they must have taken it out since then, because in our training this year it wasn't mentioned. One of the things it said is that you couldn't even take an app with you on first appointment.