I have been in Medicare sales for about 12 years now. Several of which I was a captive agent for MAPD plans, but I am a broker for all of the major MAPD and Med Supp carriers. I am trying to focus more on selling more Med Supps and many of my referrals recently have been to folks turning 65 or those new to Medicare. Now my presentations have to go over not only the MA option, but the options of buying a Med Supp during the guaranteed issue period and adding a separate stand alone Part D plan. As many agents know, this sometimes get "into the weeds" and can be hard to avoid. Several weeks ago, to try to help the prospect understand, I made a chart showing an estimated monthly cost for certain known factors with the MAPD on one side and the Med Supp on the other. I included the Part B premium of $134, any known co pays for prescriptions etc. Obviously the Med Supp side included the Med Supp and the Part D plan premium. On the MAPD side, I included a question mark for out of pocket expenses for co pays because that is the shortcoming with the MA plans and this would help folks decide which direction to go. Well I have had several appointments since I started showing the chart and several of these folks say they still need to thing about it before they decide which way to go. Any other suggestions to make the presentation more straight forward so the options are clear to folks and they can decide during the first appointment?
Advice of Explaining MAPD and Med Supp Options to Age Ins
- Thread starter timeflies
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You don't have to sell anything.
Present facts. Let your prospect decide.
Would you like to keep your doctor or are you open to making a change to save $$?
Would you rather pay now or pay later?
BTW, paragraphs would be nice.
Is your chart CMS approved?
Present facts. Let your prospect decide.
Would you like to keep your doctor or are you open to making a change to save $$?
Would you rather pay now or pay later?
BTW, paragraphs would be nice.
Is your chart CMS approved?
Simplify simplify simplify...
Ask questions - and sometimes a lot - before "presenting" anything.
New to Medicare Mary:
Mary, Medicare costs $134 monthly, no matter what other insurance you add on to it. So, let's just set that aside - right off the bat, we know you pay $134.
Mary, you tell me what you prefer, based on having insurance for the past 45 years.
Would you prefer to pay a little more - let's say, ballpark, $100 per month more (thinking, Plan G), and basically have no copays (free hospital, free doctor's office visit, free labs, free x-rays, free diagnostic exams, no copay for chemo, no copay at the ER, no copay for the ambulance) - or would you rather pay $0 each month and have copays on just about everything?
Her reaction will tell you whether you even need to discuss MAPD or not.
I guarantee she'll either say, "I think I could do $100 monthly" - go into Plan G details. Or she'll say, "I want to keep my monthly as low as possible - let's look at the lower cost options."
If she thinks she can do $100, no need to do networks, ma
In other words, you should be able to get a feeling, before you present anything, which way the person leans.
They don't need to understand the differences between Medigap and MAPD. (Well, most don't. A few engineer clients might want to). They need you to tell them which one fits their preferences more, based on a relaxed, casual conversation (you asking good questions) about how they like their insurance to work.
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Good stuff Scott, but personally I'd feel uncomfortable about using the word "free".
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I agree, good stuff... And I'd throw in my favorite piece about "no co-pays for physical/occupational/speech therapy." That's the one that sets them off with MAPD.
Everyone is "healthy" until they need a knee or hip replacement and PT is $45 per visit in my area. Especially the ones that moved to AZ or TX, had a great MAPD then come back here to help with the grandkids then moan about the cost of everything.
Everyone is "healthy" until they need a knee or hip replacement and PT is $45 per visit in my area. Especially the ones that moved to AZ or TX, had a great MAPD then come back here to help with the grandkids then moan about the cost of everything.
I tell folks MA plans are great as long as you are healthy.
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I say something similar. I tell them that MA plans are great.....as long as you don't have to use them.
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I always start with, They all look wonderful in the TV commercials.
The short version of my explanation is:
There are two completely different Medicare insurance systems. It’s important that you understand both of them then you can make a wiser choice of which do you prefer.
One is where you stay on the original Medicare system. On that one you are actually insured by Medicare. You buy a supplement insurance policy to help pay the deductibles and co-pays. You also buy a separate part D drug plan. The advantage of that choice is that you can go to any doctor and any hospital nationwide that accepts Medicare. And you can choose from any Part D drug plan that matches your prescriptions. Once you meet a small deductible each year you have 100% coverage for anything that Medicare covers. (I usually sell Plan G).
The other plan is where you go off of Medicare coverage and go with a privatized health plan that is regulated by Medicare. When you do that Medicare won’t pay any of your doctor or hospital bills but your coverage is entirely through the insurance company that you choose. It leaves much higher co-pays for you when you use it and you are more restricted on which doctors and hospitals you can go to BUT you have much lower monthly premiums.
At that point, the majority of my appointments know whether they want original or Advantage. And I sold both. I always sold 75% Supplements and 25% advantage.
If an agent is selling to lower incomes (like running FE leads) he will sell mainly advantage. But I’ve even had people on low income subsidies choose supplements. So I try to help all of them understand both options.
The short version of my explanation is:
There are two completely different Medicare insurance systems. It’s important that you understand both of them then you can make a wiser choice of which do you prefer.
One is where you stay on the original Medicare system. On that one you are actually insured by Medicare. You buy a supplement insurance policy to help pay the deductibles and co-pays. You also buy a separate part D drug plan. The advantage of that choice is that you can go to any doctor and any hospital nationwide that accepts Medicare. And you can choose from any Part D drug plan that matches your prescriptions. Once you meet a small deductible each year you have 100% coverage for anything that Medicare covers. (I usually sell Plan G).
The other plan is where you go off of Medicare coverage and go with a privatized health plan that is regulated by Medicare. When you do that Medicare won’t pay any of your doctor or hospital bills but your coverage is entirely through the insurance company that you choose. It leaves much higher co-pays for you when you use it and you are more restricted on which doctors and hospitals you can go to BUT you have much lower monthly premiums.
At that point, the majority of my appointments know whether they want original or Advantage. And I sold both. I always sold 75% Supplements and 25% advantage.
If an agent is selling to lower incomes (like running FE leads) he will sell mainly advantage. But I’ve even had people on low income subsidies choose supplements. So I try to help all of them understand both options.
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