- 6,457
If you start with an N plan, aren't the "lower" options pretty limited?
A Med Supp Co that actually knows how to sell them?
- Thread starter 20th Maine
- Start date
If you start with an N plan, aren't the "lower" options pretty limited?
No.
- 6,457
Ok, thanks. I'll have to do some reading about that.
- 6,457
Last year was my first year with Medicare and a Medigap plan. Early on I made a post about an operation and not being sure how things were going to play out. Goillini posted back with something like " I bet now you wish you'd gone with plan G." But I didn't.
My plan involved playing the average for several years. 4 months in there was no way to know whether I was experiencing the first of a whole string of "bad" years or whether I was just getting whacked with a "bad" year the first year in instead of 3 years out.
So I was doing some yard work yesterday, thinking about your question and a scenario popped into my mind.
Suppose I were to be going along as usual and then suddenly wake up having just had a stroke. I have a paralyzed side and am also not able to talk. But my mind still works. If I had a Plan N, I would have uncertainties about medical costs. It's possible the uncertainties would be enough they would detract from mental focus necessary to work on recovery.
If I had an HDF plan, I would not have those concerns because the amount is controlled.
Keep in mind that one of Somarco's repeated comments is something like "people buy on emotions, not facts".
Somewhere back in the archives is an exchange between Rick and me. I no longer remember the specifics, but in general, I presented my reasons for not wanting to buy a Plan N. Rick, in his usual ascerbic manner, carefully demolished each one of them, using some sample computations and the client experience he has seen over 20+ years of insurance experience.
One of kgmom's sales skills is the ability to tell stories with impact. She told a story about her grandmother and the Medigap costs and inconveniences her grandmother (and grandmother's family) experienced because her grandmother was on Plan N. To the extent I could recall it, I cited that story 2 or 3 times in other spots when I was attempting to draw out comments about Plan N in comparison to F, HDF, or G. Without exception, a variety of agents commented that they believed that was a rather unusual situation which would be most unlikely to recur again for another beneficiary, in another time on another plan.
kgmom's story and reasoning had such a strong emotional impact on me that I am simply unable to personally consider buying a Plan N because of the open ended nature of it's charge structure and the possible issues for my wife or son in keeping up with it.
- 29,487
Put your wife on a Plan G and you should switch now if you can pass UW, I know you've had some health problems this past year. With Plan G the amount you spend each year is also controlled. Right now that would be $183 plus your premium.
Last year was my first year with Medicare and a Medigap plan. Early on I made a post about an operation and not being sure how things were going to play out. Goillini posted back with something like " I bet now you wish you'd gone with plan G." But I didn't.
My plan involved playing the average for several years. 4 months in there was no way to know whether I was experiencing the first of a whole string of "bad" years or whether I was just getting whacked with a "bad" year the first year in instead of 3 years out.
So I was doing some yard work yesterday, thinking about your question and a scenario popped into my mind.
Suppose I were to be going along as usual and then suddenly wake up having just had a stroke. I have a paralyzed side and am also not able to talk. But my mind still works. If I had a Plan N, I would have uncertainties about medical costs. It's possible the uncertainties would be enough they would detract from mental focus necessary to work on recovery.
If I had an HDF plan, I would not have those concerns because the amount is controlled.
Keep in mind that one of Somarco's repeated comments is something like "people buy on emotions, not facts".
Somewhere back in the archives is an exchange between Rick and me. I no longer remember the specifics, but in general, I presented my reasons for not wanting to buy a Plan N. Rick, in his usual ascerbic manner, carefully demolished each one of them, using some sample computations and the client experience he has seen over 20+ years of insurance experience.
One of kgmom's sales skills is the ability to tell stories with impact. She told a story about her grandmother and the Medigap costs and inconveniences her grandmother (and grandmother's family) experienced because her grandmother was on Plan N. To the extent I could recall it, I cited that story 2 or 3 times in other spots when I was attempting to draw out comments about Plan N in comparison to F, HDF, or G. Without exception, a variety of agents commented that they believed that was a rather unusual situation which would be most unlikely to recur again for another beneficiary, in another time on another plan.
kgmom's story and reasoning had such a strong emotional impact on me that I am simply unable to personally consider buying a Plan N because of the open ended nature of it's charge structure and the possible issues for my wife or son in keeping up with it.
Also, I hear that they're doing away with Plan F and you won't be able to keep it, then you'll be stuck with no Medicare Supplement at all.
Last year was my first year with Medicare and a Medigap plan. Early on I made a post about an operation and not being sure how things were going to play out. Goillini posted back with something like " I bet now you wish you'd gone with plan G." But I didn't.
My plan involved playing the average for several years. 4 months in there was no way to know whether I was experiencing the first of a whole string of "bad" years or whether I was just getting whacked with a "bad" year the first year in instead of 3 years out.
So I was doing some yard work yesterday, thinking about your question and a scenario popped into my mind.
Suppose I were to be going along as usual and then suddenly wake up having just had a stroke. I have a paralyzed side and am also not able to talk. But my mind still works. If I had a Plan N, I would have uncertainties about medical costs. It's possible the uncertainties would be enough they would detract from mental focus necessary to work on recovery.
If I had an HDF plan, I would not have those concerns because the amount is controlled.
Keep in mind that one of Somarco's repeated comments is something like "people buy on emotions, not facts".
Somewhere back in the archives is an exchange between Rick and me. I no longer remember the specifics, but in general, I presented my reasons for not wanting to buy a Plan N. Rick, in his usual ascerbic manner, carefully demolished each one of them, using some sample computations and the client experience he has seen over 20+ years of insurance experience.
One of kgmom's sales skills is the ability to tell stories with impact. She told a story about her grandmother and the Medigap costs and inconveniences her grandmother (and grandmother's family) experienced because her grandmother was on Plan N. To the extent I could recall it, I cited that story 2 or 3 times in other spots when I was attempting to draw out comments about Plan N in comparison to F, HDF, or G. Without exception, a variety of agents commented that they believed that was a rather unusual situation which would be most unlikely to recur again for another beneficiary, in another time on another plan.
kgmom's story and reasoning had such a strong emotional impact on me that I am simply unable to personally consider buying a Plan N because of the open ended nature of it's charge structure and the possible issues for my wife or son in keeping up with it.
If the main concern was excess charges and Plan N (a) not covering them and (b) not having an OOP limit, then I'd agree with Rick in that the risk is small. Going from same price HDF to N is a no-brainer.
But if I were you (or your agent) with your specific concerns, then I would suggest Plan K or Plan L.
- You get some "immediate" benefit...which matters,
- you still get a low-low premium (may depend on state),
- and they have an OOP max which is good for your comfort level with Excess charges.
If the premium justifies it, an L may be a better deal than your HDF.
Real question, does anyone actually micromanage the difference between Plan N and G with actual clients like they do on the forum? All this uncertainty leads to a "let me think about it" answer from the prospect.
Perhaps the main take away here should be aa kee it simple stupid approach.
Perhaps the main take away here should be aa kee it simple stupid approach.
With client? No...
Agree. Keep it simple. If going over all three, "So, for $13 more (or whatever) we can eliminate the doctor and ER copay and cover the excess charges. Or, you can save $13 and do N."
Maybe? I don't know if this is micro-managing or not. Here's part of my presentation. Keep in mind, we talk about Excess Charges with the Plan F description.
"We've already discussed why Excess Charges are not a significant issue, but I am not a fan of Plan N and there are 2 reasons. One, plan N only works dollar wise if you go to the doctor less than 2 times a month. And if you ARE going more than 2 times a month, then I am probably not going to be able to move you, because at that point, you won't get through underwriting. Second, while my Grandma had plenty of cash to pay the $20 copay when she passed at 91, what she didn't have was the cognitive ability to actually write the check. We aren't doing this for when you are 65. We are doing this for the next 35 years."
Is that what you were asking? If so, then yes. Every client. Every time.
