Can You Make Money Selling Medicare Advantage?

[slushpuppyking]

So I've only looked into Medicare Supplements mainly because I spoke to Frank a long time ago and he pointed me in that direction. Only reason I am asking about Medicare Advantage today is because some of my dialer leads for Med Supps is putting me in contact with folks on MA.

I apologize for the mix up and explain that I cannot help them since obviously being on MA is much cheaper than Med Supps.

Am I throwing business away? I've been on this forum for awhile now and hardly notice anyone even talking about MA plans or selling them.

 

[Josh]

There is a great deal of discussion about MA plans and there are quite a few folks on here that do very well with them.

You can't cold call for MA plans and the marketing restrictions are tough, but the short answer to your question is yes. The longer answer is absolutely yes. How long you'll be able to make money at it is up for debate, but it's certainly viable now.

 

[slushpuppyking]

You can't cold call?

So where do leads come from? All mailers?

 

[Josh]

You can't cold call?

So where do leads come from? All mailers?

Mailers, seminars, referrals, etc. It's changed a lot even in the last few years. I had been working as a carrier rep for about four years, but right before I left a little piece of POS legislation (MIPPA) changed the whole landscape of the market.

 

[somarco]

obviously being on MA is much cheaper than Med Supps.

You should talk to someone who was on an MA plan and had to use it. I signed up a lady yesterday that had an MA plan in another state. Her health took a turn for the worse a few months back resulting in her spending 2 weeks in the hospital, 2 in rehab.

Her $27 plan ended up costing her over $3,000 in OOP expenses. Even before her setback, her 1 - 2 monthly doc visits added to the cost of her plan. The Rx coverage that was married to the MA did not include her most expensive meds on their formulary.

Since she has moved out of the service area she is GI and I put her on plan N @ $132 month plus another $38 for PDP that covers all her meds.

In addition to more protection against OOP she no longer has to deal with networks and can use any doc anywhere.

 

[bigeats]

You should talk to someone who was on an MA plan and had to use it. I signed up a lady yesterday that had an MA plan in another state. Her health took a turn for the worse a few months back resulting in her spending 2 weeks in the hospital, 2 in rehab.

Her $27 plan ended up costing her over $3,000 in OOP expenses. Even before her setback, her 1 - 2 monthly doc visits added to the cost of her plan. The Rx coverage that was married to the MA did not include her most expensive meds on their formulary.

Since she has moved out of the service area she is GI and I put her on plan N @ $132 month plus another $38 for PDP that covers all her meds.

In addition to more protection against OOP she no longer has to deal with networks and can use any doc anywhere.

Reminds me of an old saying:

"No product is more expensive than the one that doesn't work."

MA plans ARE great until you have to use them. At that point, their worth becomes questionable.

 

[Crabcake Johnny]

Reminds me of an old saying:

"No product is more expensive than the one that doesn't work."

MA plans ARE great until you have to use them. At that point, their worth becomes questionable.

“The bitterness of poor quality remains long after the sweetness of low price is forgotten.”

 

[Josh]

Reminds me of an old saying:

"No product is more expensive than the one that doesn't work."

MA plans ARE great until you have to use them. At that point, their worth becomes questionable.

That is up for debate. In many areas the cost odd a med Supp for two years can be more than the max out of pocket on an ma plan. There are a lot of great ma plans and seniors in many areas would be foolish to not have one, even if they do end up using it.

 

[DS4]

my dialer leads for Med Supps is putting me in contact with folks on MA......

I cannot help them ......

......Am I throwing business away?

At the very least, you should add this contact to your db. MA plans are very volatile. If that MA non renews, imagine your opportunity!

 

[Stephen]

So I've only looked into Medicare Supplements mainly because I spoke to Frank a long time ago and he pointed me in that direction. Only reason I am asking about Medicare Advantage today is because some of my dialer leads for Med Supps is putting me in contact with folks on MA.

I apologize for the mix up and explain that I cannot help them since obviously being on MA is much cheaper than Med Supps.

Am I throwing business away? I've been on this forum for awhile now and hardly notice anyone even talking about MA plans or selling them.

In a few months companies will start having roll out meetings for the AEP. Learn which plans are the best in your area and attend their meetings.

There are quite a few Medicare Beneficiaries that cannot afford a supplement, or did not want to pay for one when given the opportunity. There is a market for MA, but when people start depending on MA enrollments to keep the lights on is when the trouble starts.

What kind of dialer leads are you using?