Advice of Explaining MAPD and Med Supp Options to Age Ins

Every response so far has been by Agents who obviously

or probably ever want to sell them

Perhaps I missed it, but I don't recall seeing your poll.

Or are you clairvoyant?

I'm not being a prick I'm just wondering what limitations they don't like.

Thanks for clarifying. I would not have known otherwise.

I looked at my past 20 - I was 10 med supps and 10 mapd. 50/50 again.

Obviously in a rut.

Either that, or play roulette and always bet black.
 
I've been selling Med Supps for 35 years. I start out with AARP UHC "Medicare Made Clear" booklet that is a good generic educational piece. Show them they must have Parts A & B -Called Original Medicare. Then I show them there are 2 ways to get their Medicare benefits, 2 sides of the Medicare coin. We look at the worse case scenario of the out of pocket for a MA plan, if PPO in FL it is $10,000. If I show them an Plan F, their max oop is their annual premium and they have freedom of choice, no referrals, etc.I use a company' Outline of coverage for Plan F (I can always go down to a lower plan from there) showing what Medicare pays, what Plan F pays and what they will pay ($0). Zero's down the line for all the Medicare covered benefits. I close 98% of those I present Med Supp and if they want to go with MA plans then I have all the HMO's & PPO's in the area. I do explain what happens if the doc they want to go to is not in the network and may not accept the PPO's out of networks terms & conditions. That's called CYA. Good luck.
 
I've been selling Med Supps for 35 years. I start out with AARP UHC "Medicare Made Clear" booklet that is a good generic educational piece. Show them they must have Parts A & B -Called Original Medicare. Then I show them there are 2 ways to get their Medicare benefits, 2 sides of the Medicare coin. We look at the worse case scenario of the out of pocket for a MA plan, if PPO in FL it is $10,000. If I show them an Plan F, their max oop is their annual premium and they have freedom of choice, no referrals, etc.I use a company' Outline of coverage for Plan F (I can always go down to a lower plan from there) showing what Medicare pays, what Plan F pays and what they will pay ($0). Zero's down the line for all the Medicare covered benefits. I close 98% of those I present Med Supp and if they want to go with MA plans then I have all the HMO's & PPO's in the area. I do explain what happens if the doc they want to go to is not in the network and may not accept the PPO's out of networks terms & conditions. That's called CYA. Good luck.

35 years. Impressive my friend... you've been selling longer than I've been breathing.

At this point in your career, maily just working referrals?
 
Lots of good comments especially from SSHAFRAN. I will print these off and study them. There are two problems here. Some folks may thing they prefer Med Advantage, and sign up for it, but when they turn 66, they will now need to qualify for Med Supp. Also, when they enroll in MAPD and then get the $1,600 co pay for the 4 day in-patient hospital stay, they have selective memory and they don't recall us discussing those potential charges. It's a balance between being thorough and staying out of the weeds, but CYA in case there are expenses the members say they weren't aware of. Too many options for Medicare beneficiaries.
 
Lots of good comments especially from SSHAFRAN. I will print these off and study them. There are two problems here. Some folks may thing they prefer Med Advantage, and sign up for it, but when they turn 66, they will now need to qualify for Med Supp. Also, when they enroll in MAPD and then get the $1,600 co pay for the 4 day in-patient hospital stay, they have selective memory and they don't recall us discussing those potential charges. It's a balance between being thorough and staying out of the weeds, but CYA in case there are expenses the members say they weren't aware of. Too many options for Medicare beneficiaries.

Not if they are in a trial right situation.
 
If you enroll in an MAPD plan when you turn 65 and decide that a Med Supp plan is a better option, as I understand, you have 12 months to switch to the Med Supp without any underwriting aka guaranteed issue rights. That is why I said, when they turn 66 and they had been on the MAPD for over 12 months, they lose those GI rights for the Med Supp. Is this correct?
 
If you enroll in an MAPD plan when you turn 65 and decide that a Med Supp plan is a better option, as I understand, you have 12 months to switch to the Med Supp without any underwriting aka guaranteed issue rights. That is why I said, when they turn 66 and they had been on the MAPD for over 12 months, they lose those GI rights for the Med Supp. Is this correct?
Yes, but technically they could be older than 65 when they get Part B/MAPD.
 
Yes, but technically they could be older than 65 when they get Part B/MAPD.
That is an extremely important point to keep in mind and I think it will become more and more common.

Although some people hate their jobs so much they will retire for social security at 62 regardless of financial consequences, or have financial situations that dictate that as the best of a number of poor options, others will continue on due to two reasons.

The Medicare and Social Security systems are now out of sync with the Medicare enrollment age remaining at 65 but the Social Security full retirement age steadily increasing to age 67.

I think the commonly promulgated wisdom about maximizing social security benefits is now to work until age 70 if it is at all possible for you to do so and I think we will see a steady increase in that over the next 10 years.

That will mean a) that agents will see a steady increase in the number of people using the Medigap SEP for coming off group plans, and b) I suspect from posts I have seen here, an increase in clients who will have to be given the bad news about no longer having their Medigap OEP because they took part B along with part A when they turned 65.
 

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