Bill Would Split Broker Comp from MLR

[somarco]

On the exchange every company is the same and the customer can see all the rates on page 1.

True for gap plans. Not so for MA or IFP.

Consumers are mostly lazy and won't take the time to learn the differences any more than they do today. But when a claim is denied you can bet they will claim they were scammed by a bait and switch tactic.

The exchange won't make it any better or easier for consumers or carriers.

 

[Yagents]

Wrong. Every company and every plan on exchange is different., unlike med supps which are standardized. Prices already available at ehealth subsidiary planprescruber.com. next!

 

[taterpeeler]

Wrong. Every company and every plan on exchange is different., unlike med supps which are standardized. Prices already available at ehealth subsidiary planprescruber.com. next!

Kinda like ...oh, I don't know...MAPD plans... The client can buy frommedicare.gov and they don't...some might but not enough to be profitable.....

I told you people this in 2010.

 

[timsip]

I disagree. Companies need us to sell people that company's plan. That's why the commissions are good. Medicare isn't rocket science. We are paid by the companies not the customers. Do you think Mutual of Transylvania would sell any product if they paid a 5% commision? If the government forced seniors to use an exchange to buy a Medicare Supplement plan commissions would drop like a rock. On the exchange every company is the same and the customer can see all the rates on page 1.

Have you talked to a senior that has been on the same Med Supp for ten years and is paying 50% more than the lower rate? Ever hear the line 'you get what you pay for'? Even with standardized plans, without honest agents that are trying to provide the best coverage for the money and not ones that are chasing commissions, seniors and all other consumers would continue to pay 50% more than they should for their coverage. An exchange wouldn't change that.

 

[somarco]

AARP/UHC I can understand. Even Blue. But MOO always amazes me. Third most popular (by sales) carrier in the state. Their popularity (among seniors) baffles me.

I can understand the love affair agents have . . . up to a point.

My commissions would be almost double what they are now if I sold mostly MOO. Higher rates and higher commissions would put a heck of a lot more $$$ in my pocket but I just can't do that and sleep at night.

 

[Yagents]

Ruh Roh, Looks like medicare agents are obsolete now that they've created a medicare exchange:

EasyMedicareChoices.com

Retiree Health Choices Launches Easymedicarechoices.Com for Boomers

 

[somarco]

the first-of-its-kind retail site for boomers to sort through the complexities of Medicare.

First of its' kind?

I don't think so.

Georgia Medicare Plans - Instant Medicare Supplement Plan Rates - GA Medigap

Love that "Unbiased cost estimate" seal of approval.

 

[Ann H]

People who think the new exchanges will be like Travelocity are mistaken. They think there are 4 choices - Bronze, Silver, Gold, Platinum, like Med Supps Plans A-J. Even now, people want an agent to help them with Medicare choices.

But Bronze is a category, not a plan design. That category must have an overall actuarial value of 60%. Silver 70% actuarial value, Gold 80%, Platinum 90%. And, furthermore, lots of people think actuarial value means the co-insurance, but it's doesn't. A Silver plan with 70% actuarial value might have a higher deductible with 90% co-insurance, whereas another Silver plan might have a lower deductible with 70% co-insurance. So, there will be lots of plans, lots of confusion.

And, then is the confusion over markets and distribution channels. There's a govt exchange/marketplace, private exchanges, employer private exchanges, web-brokers who can use both private and govt. Add to that subsidies, and tax penalties. Then add networks, formularies....

Yeah. Why would someone need an agent?

 

[taterpeeler]

Yeah. Why would someone need an agent?

to get on Bills email list...... to have good 'ol boy talks with me...... for you to recite all 15000 pages of regulations..... heck I don't know