@somarco, true prior to 2006 very few Medicare enrollees had drug coverage (there were two Med Sups that had Rx if I recall correctly). To me, the creation of Part D coupled with the then relatively new direct to consumer marketing for drugs are what have been the primary contributors to the explosion in drug prices.
70% Shopping Rate??
- Thread starter jockin mg
- Start date
@Tom in RI I didn't come on board with Medicare until 2010. Prior to that I worked the medium to large group health market including self funded plans.
I think United American offered an indemnity type of supplement with a limited discount Rx plan. Could be wrong.
No doubt DTC advertising coupled with copay Rx plans caused a run away train.
Doctors like to push the latest "hot" drug without regard to affordability.
I have a new prospect (soon to be client) that has been taking Otezla which he got for next to nothing under the group plan. That's a $2500 drug that will cost $600 on a PDP.
He asked his doc for a different med with a lower cost. The doc suggested Skyrizi . . . which is $19.500 per month before repricing down to only $5k.
I gave him a list of Part B drugs to run by his doc and waiting to hear back.
The drug market is a maze and a lot of folks are in for sticker shock when they leave Obamacare or a group plan.
The 2025 Part D market is going to be a nightmare for everyone. An agent that does not know how to navigate outside of the Part D plans is going to have some unhappy campers as policyholders.
I think United American offered an indemnity type of supplement with a limited discount Rx plan. Could be wrong.
No doubt DTC advertising coupled with copay Rx plans caused a run away train.
Doctors like to push the latest "hot" drug without regard to affordability.
I have a new prospect (soon to be client) that has been taking Otezla which he got for next to nothing under the group plan. That's a $2500 drug that will cost $600 on a PDP.
He asked his doc for a different med with a lower cost. The doc suggested Skyrizi . . . which is $19.500 per month before repricing down to only $5k.
I gave him a list of Part B drugs to run by his doc and waiting to hear back.
The drug market is a maze and a lot of folks are in for sticker shock when they leave Obamacare or a group plan.
The 2025 Part D market is going to be a nightmare for everyone. An agent that does not know how to navigate outside of the Part D plans is going to have some unhappy campers as policyholders.
You don't submit an SOA unless you get a complaint. You keep them for your records in case that happens.
UKTX
Super Genius
- 203
I forget what the famous saying was but the jist of it went something like this......there was more money to be made in making the shovels during the California gold rush than there was in actually mining the gold.
Seems a lot tend to follow this approach in this business.
Just a note on a RetireFlo connection.
Scott Miller (Dalton's dad) helped me get started and grow. I had a few contracts under his agency for several years.
One of the best in the business - built a massive book of business in Columbus, OH - all with an excellent reputation. It's good to see Dalton having success with his RetireFlo system - it doesn't shock me at all. Their agency is one of those agencies you won't hear about on Social, but they did it right.
(to my knowledge they decided a long time ago that they weren't going the FMO route)
Gotcha, my upline wants the SOA with electronic submission.
Yes, I'll have my assistant add their drugs and doctors to S&S. Or, maybe myself. Not sure yet.
I'd tell my upline to kick rocks. Tell them, I'll send them to you when I get a complaint. Your FMO can't require it…unless you're captive.
If not captive, they work for you. Not the other way around.
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