Mar 22, 2007
This article was in the Tampa Bay Tribune, 3 days ago
yea....thats why I do not work that market.......
an agent (or anyone for that matter) that takes advantage of a senior should be fried! did you see that crook hit that 101 year old lady and mug her the other day on the news. if caught he should be torched!!!
or these new ones......
This is why you stay away from unethical outfits with ads like this:
We teach you how to roll your block at rate increase time, Service your client and get the 12 month advance every year
No money required with your clients application
All applications are submitted on line" Paperless operation"
Policies issued in 1 to 4 days
Hhmmm, one might be able to notice pattern a pattern amongst the perpetrators.
I came across a couple about a month ago that had been enrolled in a MAPD (it wasn't Universal) but was unaware of it. The wife told me that she recalled the agent presenting the plan, but was unaware of being enrolled until I saw the "welcome kit" on her table. They enrolled her husband too, and she said he wasn't even present at the time and he has group insurance and no need for MA besides. But to be enrolled, she must have at least given the agent their Medicare information which of course was not necessary if they didn't want to enroll.
Another problem is Medicare members who are enrolled in a MAPD enrolling in a MA only plan and being unaware that they will lose their Part D benefits in the process unless they also enroll in a stand-alone PDP. I had a client this week who had done this and she said the agent didn't even leave a card or any contact information. She didn't find out until she went to the pharmacy and was told her prescriptions for that month were $200+. Fortunately she has the Low Income Subsidy for Part D. Otherwise she would have been locked out of Part D for the rest of the year with the only recourse being filing a complaint with Medicare alleging misrepresentation and getting a SEP at some point down the line. At best this is a case of gross incompetence on the part of the agent since basically every MA company has a PDP they can sell as well. So the agent misses out on the PDP commission as well as causing their client to lose drug coverage.
I have heard a lot of agents complain about Pyrmaid because they have to call and give their name and agent number and then have the prospect answer a list of questions for the app to be accepted. At least that is what I have had to do. They say it takes too much time.
I appreciate the fact that Pyramid requires that. The prospect has to read and initial the questions before the call is made. The sheet with those questions they initial has to be sent in with the app.
During the phone interview they are asked those same questions. The agent is then given a comfirmation number for each person.
To me that is the company acting responsibily. Isn't it a shame that they feel it is necessary to do that? It is no wonder that the toughest part of selling insurance is getting someone to believe you.
I have seen and heard and come behind some of these nightmares; what angers me is responsible agents are tarred with the very same brush. These same agents think nothing of taking all the money from a 90yr old and tying it up in an indexed annuity with a 17yr term, and because they are captive with these companies are restricted to selling certain products to seniors not based on appropriateness, but on premium.
very very upsetting when you are trying to do a good job for the local population.
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