Advice of Explaining MAPD and Med Supp Options to Age Ins

[LostDollar]

Yes, it would get you closer to buying an MAPD, most likely. My question isn't meant to convey that it's a 2 question close...you answer this way, then you get this product. The sales process is a series of questions and answers, which leads us closer to what you would feel best owning. I am not biased on the ms/mapd direction we go, but I do want get the sale/customer.

You know where I am. I don't know the percentage of chance, but if you did a Medicare mailing up here, there is a chance you would hit some of the people who are either current or past members of this plan. (I'll be glad to pm you more specific details of the plan if you want them for reference points.) I just think Newby's wording is slightly different than yours and would reduce the potential for misunderstanding when you talk with folks who have had relatively low costs for their EGHP's.

 

[rndz7]

Has worked pretty well the last 7 or 8 years for most of my MA clients. If they were paying 180.00 each for their Med Sups and go to the $0.00 MA they can set aside the $360/month in a savings account and have a pretty nice savings after a few years. Do they all do it? Probably not but I know quite a few that have.

The savings account hook, is interesting . DR

 

[rndz7]

Somarco..............Hmmmmmmmmm....Kick back and answer their questions.............Clients, not customers....The process,,,,,,Yep

 

[LostDollar]

The difficulty with that brief statement is that it does not cover that the maximum out of pocket is twice the total of the out of pocket plus annual premium of the plan one has had in recent years.

Uh, you sure about that?

Well that would be a lie so how can you make that statement ?

I'm sorry LD, but the more times I read this, the more I think I took a couple too many hits.

I'm cornfused.

Current year plan info (and this should be approx the same for what we had in 2016):
PPO plan. $250 cal yr medical deductible. $0 Co-insurance. Cal yr max oop $1,500.
(The plan also includes drug coverage and VSP vision.) (Dental is separate with Delta, but at a far better coverage and rate combination than Delta's non-group offerings here.)

Employee cost (rounded up to even number):
$60 Bi Weekly * 26 = $1,560

250+1500+1560= $3,310 $3,310 = 49.4% $6,700

The first time I looked at the info, I overlooked the BIWEEKLY note on the premiums, so the spouse cost would be over 50% (but still less than 60%).

This plan does not have a single plus one option. It is either single or family.
So the coverage for a spouse would be increase from single to family.

Again rounding up to an even number, we are looking at an increase of $110 biweekly to cover the spouse. $110 * 26 = $2,860.

250+1500+2860= $4,610. $4,610 = 58.1% $6,700

So while a question about "like what you are used to" might point to an MAPD, the details of my last EGHP coverage and MAPD coverage seem quite a bit different-and speaking for myself only-I would feel misled if exposed to that type of approach.

 

[somarco]

If they were paying 180.00 each for their Med Sups and go to the $0.00 MA they can set aside the $360/month in a savings account and have a pretty nice savings after a few years

Sounds familiar . . .

Like BTID?

Yeah, don'tcha know everyone did that and never needed that term insurance when they got old. Tons of money in the bank.

 

[goillini52]

If they were paying 180.00 each for their Med Sups and go to the $0.00 MA they can set aside the $360/month in a savings account and have a pretty nice savings after a few years

Sounds familiar . . .

Like BTID?

Yeah, don'tcha know everyone did that and never needed that term insurance when they got old. Tons of money in the bank.

This deserves more than one Like.

 

[XpressInsurance]

 

[Rob Lion]

What's a good reason to go to a MAPD plan? besides not having the money to pay for a med supp.

 

[XpressInsurance]

What's a good reason to go to a MAPD plan? besides not having the money to pay for a med supp.

It is all about risk you are willing to take, no one knows when you are going to die. I like MAPD plans, most MAPD plans are better than & a hell of a lot cheaper than the plan I am on with my wife's employer. If I was aging in, I would be all over a MAPD. If I later needed a supplement really bad, I would move out of the service area of the plan, like down to my lake house. In the mean time, my wife will spend all the money we saved on supplement premiums.

 

[Rob Lion]

It is all about risk you are willing to take, no one knows when you are going to die. I like MAPD plans, most MAPD plans are better than & a hell of a lot cheaper than the plan I am on with my wife's employer. If I was aging in, I would be all over a MAPD. If I later needed a supplement really bad, I would move out of the service area of the plan, like down to my lake house. In the mean time, my wife will spend all the money we saved on supplement premiums.

I always help people see the point of being on a med supp, i think mapd plans are awful but that's just my opinion.