Are med sups doomed ?

[SamIam]

You do realize not every location has $99 Plan G rates, right? I just wrote a T65 yesterday who lives in my same city, rate is $147. Now if his wife goes with the same carrier when she turns 65, his rate will decrease. But this particular carrier still pays the commission on $147. That's $370 x 6 = $2,220. Add in the PDP and it's a minimum of another $342 over 6 years. This adds up to more than MAPD over the same 6 years.

that was plan N for a Male. Plan N rates will be more stable Plan G $139 but there are cheaper rates but this is with one of the bigger carriers.

 

[me112233]

One would think with all the ridiculous marketing rules that the fed has (and rarely enforces), that stopping the ads promoting "extra benefits" and kickbacks should be stopped. It's scary when you think about it; people are picking their plans based on financial incentives ($25 for OTC items, reduced Part B premiums, $50 for groceries, etc.), when the plans ought to be required to stick specifically with medical benefits and nothing else. Never do you see an advertisement say "we give you $50 for groceries, because if you need inpatient rehab, we're going to deny your claim."

 

[Midlevel]

You must be seeing the wrong people or slanting your presentation to the MAPD or maybe selling in a low income area. In my experience, 65% take Medsupp and 35% take MAPD (Nationally 48% are enrolled in Medicare Advantage). You must not be selling the upside of a Medsupp in that it's easier to use and generally more convenient. And you must not be showing that the average cost of a MAPD is higher than 4 visits to a doctor per year.

Not sure who you are talking to but very few low income. MA are very easy to use in my area,
network is no problem and most have talked for a family member or coworker who are on an MAPD and love it. I show them the G plan and tell them all they will pay is the 226.00 ded and is very good for their medical insurance. Then I proceed to show them the MAPD and copays and extra benefits along with a 28.00 GTL plan. Then I show them the Cost Plan. All are like why would I pay more for a Med Sup and then have a ded and none of the extra benefits and then have to add a PDP with a 505.00 ded. Guess I'm fortunate, having asked a health question other then ESRD for many years.

 

[Midlevel]

If you understand how it works very easy. for a super low price $35 (stable rates) without having to deal with networks or having to fight the insurance companies (big problem with MAPD) or having the carrier involved in healthcare decisions. Medicare is still primary and your only paying 20% of the negotiated rate, so if the DR. is charging $100 the client is only paying $20. Max out-of-pocket is $2700. The best option out there. Yes, you make dramatically less on the Medicare side but tons of other selling opportunities and a lot of referrals.

Been doing this many years and have never seen anyone on a high ded Med Sup.

 

[goillini52]

You do realize not every location has $99 Plan G rates, right? I just wrote a T65 yesterday who lives in my same city, rate is $147. Now if his wife goes with the same carrier when she turns 65, his rate will decrease. But this particular carrier still pays the commission on $147. That's $370 x 6 = $2,220. Add in the PDP and it's a minimum of another $342 over 6 years. This adds up to more than MAPD over the same 6 years.

Also, many Med Supps have a per app bonus.

 

[Chazm]

Also, many Med Supps have a per app bonus.

yup. Right now, and for the last 4 months, I can write a humana achieve with a bonus. T65 is about $475 commission, plus $325 bonus, plus PDP. Close to $900.

 

[Midlevel]

yup. Right now, and for the last 4 months, I can write a humana achieve with a bonus. T65 is about $475 commission, plus $325 bonus, plus PDP. Close to $900.

And people wonder why every Tom, Dick and Harry is getting into Medicare Insurance. Have had 3 school teachers quit teaching the last year to start selling insurance full time in my area.

 

[SamIam]

Not sure who you are talking to but very few low income. MA are very easy to use in my area,
network is no problem and most have talked for a family member or coworker who are on an MAPD and love it. I show them the G plan and tell them all they will pay is the 226.00 ded and is very good for their medical insurance. Then I proceed to show them the MAPD and copays and extra benefits along with a 28.00 GTL plan. Then I show them the Cost Plan. All are like why would I pay more for a Med Sup and then have a ded and none of the extra benefits and then have to add a PDP with a 505.00 ded. Guess I'm fortunate, having asked a health question other then ESRD for many years.

You show them this? [EXTERNAL LINK] - Medicare Advantage Denials of Care I guess where you live this isn't a problem at all. I make them aware of all issues MAPD & Med Sups but once they see this video very rarely will they choose a MAPD.

 

[SamIam]

yup. Right now, and for the last 4 months, I can write a humana achieve with a bonus. T65 is about $475 commission, plus $325 bonus, plus PDP. Close to $900.

Even on a regular plan G T65 I'm about $366 commission which isn't even the lowest price plan. If an agent is selling a Humana at a higher premium for the bonus once again, they are selling it based on a commission just like the MAPD.

 

[T Sparks]

Ok let me try this, I think ....

Trump would buy a Supplement.

And biden would be eligible for a DSNP, or possible a CSNP.