MDInsuranceGirl
New Member
- 12
I'm hoping to get some good info on what Medicare Supp. plans to sell in Maryland. Any info on carriers, contracts, or leads would be greatly appreciated. Thanks!
Best Medicare Supplement Carriers
- Thread starter MDInsuranceGirl
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- medicare
- 190
I would go to ritter's site (google ritter insurance) and sign up (don't have to be licensed with any of their carriers). Click onto the "quote" section and scout out "G", "F" and maybe "J" plans in your area. Pay attention to "ratings", "rates", and "underwritting guidelines (especially diabetes health questions).
jsanchez001
Expert
- 50
Senior Market Sales is a fairly good FMO...they have contracts with several of the largest/best carriers.
- 7,066
I'm hoping to get some good info on what Medicare Supp. plans to sell in Maryland. Any info on carriers, contracts, or leads would be greatly appreciated. Thanks!
In Missouri I recommend Plan D to all my prospects. I never recommend Plan F nor do I sell it and will not sell Plan J. Plan J will no longer be available effective June 1, 2010. Plan G is going to be changed at that time also.
Anytime a company eliminates a plan the healthy people will typically move to another policy. This will leave only chronically ill people in the plan who will have a lot of claims. Claim experience is what drives premium increases.
It will be up to each individual insurance company to decide whether or not to allow current policy holders to move to one of the new Standardized Plans without underwriting requirements. Some may and others may not. There is no way to tell at this time.
Contact your DOI (Department of Insurance) and ask if they have a list of the companies selling Med Supps and their premiums. The Missouri DOI has that information. Although there are a few states that apparently don't, your state may have it available. Select the top three most competitive to begin with.
Company ratings for companies that sell Med Supps are not nearly as important as they are for all other lines of insurance. I really don't pay much attention to them.
If the company goes "belly up" and a senior loses their Med Supp, Medicare gives that senior a period of Guaranteed Issue to take another policy from another company with out having to answer any health questions.
Once a senior has a Med Supp plan the only way they can ever lose it is by no longer paying the premiums.
When working the senior market I think that purchasing "leads" is a huge waste of money. At the present time I work from lists.
- 190
As far as I know, the "underutilized" "preventive Care" benefit and the "outdated" "at home recovery" benefits are being done away with by mid-2010 - LINK (page 12). Once this happens, the "D" plan will become not so attractive IMO. Can't believe everything you read I guess but it seems to me that "F" is the way to go.
- 7,066
You may very well be right. However, it isn't the "At Home Recovery" benefit that makes Plan D so desirable, at least not in Missouri. Plan F is substantially more expensive than Plan D.
With over 99% of doctors now Accepting Assignment the Excess Charges benefit looks great on paper but is very seldom utilized. That then only leave the Medicare Part B deductible that is paid by Plan F. If the difference in premium between Plan F and D is greater than the cost of the Part B deductible than Plan D becomes a much better value for the prospects premium dollar.
Actually it is agents who sell Plan F who have made a great contribution to the success I have selling Med Supps. I really should be encouraging agents to sell Plan F I guess.
- 190
Frank, it seems like you are making an assumption that the part B deductible will always remain at a low enough level to make your "low premium" arguement solvent. Right now the difference in premium between most "D" and "F" plans make the "D" plan a better deal financially. I can pitch both ways but I choose not to "gloss over" the part B excess like you seem to want to do. Why would I ever assume, or lead a client to believe, that the part B deductible will always remain low enough to make "D" the better option?
With "F" = "as long as your policy is in force then you won't have to worry about hospital/doctor deductibles or bills (as long as medicare approves your procedure).
With "D" = "well as you see this plan doesn't pay the part B deductible but don't worry because the difference in premium still makes this plan the better deal. Sure the "F" plan pays 100% of part "B" excesses but very few doctors even charge the part "B" excess fee."
We can argue this all day long but at the end of the day, I choose "F".
With "F" = "as long as your policy is in force then you won't have to worry about hospital/doctor deductibles or bills (as long as medicare approves your procedure).
With "D" = "well as you see this plan doesn't pay the part B deductible but don't worry because the difference in premium still makes this plan the better deal. Sure the "F" plan pays 100% of part "B" excesses but very few doctors even charge the part "B" excess fee."
We can argue this all day long but at the end of the day, I choose "F".
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- 7,066
I have no desire to "argue" the point with you. I was doing nothing more than answering the ladies question and giving reasons for my answer.
As I previously said, agents who sell Plan F have contributed greatly to my success. I encourage you to sell the plan of your choice.
- 107
I never thought of it that way. However, I don't have plan D to offer. That is why I like this site. Always learning something new!
- 2,452
Sell them plan F. You will have less calls at the beginning of the year, reminding forgetful seniors what a Part B deductible is when they are billed by the doctor.
Numbers don't lie; plan Fs stay on the books longer than plan Ds. Unless you sell United American plan Fs of course. That's why it's important to get a competitively priced company, then sell plan F like crazy.
Numbers don't lie; plan Fs stay on the books longer than plan Ds. Unless you sell United American plan Fs of course. That's why it's important to get a competitively priced company, then sell plan F like crazy.
