Can't Beat Free

[Winter_123]

Just had a client call and leave a message cancelling her med supp application.

She said that she talked with another agent "who showed me a better plan for free and you can't beat free."

Okay fine. Apparently Agent Freebie was not bound by the 48 rule either.

Gotta love it.

 

[Russ]

Can't beat them Med-advantage plans that are free as long as you don't use them. Their especially painful if you go in the hospital though...that $200-$350 a day co-pay kills any sales pitch I've ever offered on them.

Did find one in lower Alabama with BC/BS for just over $70 bucks a month with a zero dollar co-pay for everything! Almost all providers accept it too. PDP benefits with it also.

 

[G.Gordon]

Simple five minute phone conversation should save that client. I've reversed three of my clients desire to leave me for MA.

What plan? they give the name or contract number on the bottom right corner of the ID card

I look up said plan.

Call them back and just tell them you want to make sure they understand the difference. Go line item by line item comparing the MA to the Supplement/Medicare combination.

I've lost three clients this year to MA's... less than 7/10 of 1% of my book. I can live with that. One: I could never get on the phone. The other two: A spousal couple that I've been about to loose anyway... they live over their heads and bitch about premiums all the time... I didn't even flinch when they called to cancel.

 

[retread]

Can't beat them Med-advantage plans that are free as long as you don't use them. Their especially painful if you go in the hospital though...that $200-$350 a day co-pay kills any sales pitch I've ever offered on them.

Did find one in lower Alabama with BC/BS for just over $70 bucks a month with a zero dollar co-pay for everything! Almost all providers accept it too. PDP benefits with it also.

An MAPD plan with a modest premium and $0 co-pays is very hard to beat with a Med Sup.

To be upfront with my clients, I always add up the annual premium and the MOOP of an MAPD plan, then divide by 12 to show the true financial exposure to my clients. This way they can truly compare the cost to a Med Sup + PDP. An ethical approach is one that discloses all facts. I think MA proposals should all have to conform to this standard, but then again, I don't want to upstage CMS.

The $0 MA plans appeal to those who can't afford a Med Sup (or any premium MA plan) and just hope against hope that they don't have any medical issues. For them, it is their best (and only) fit. These are the ones just above the Medicaid level.
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Just had a client call and leave a message cancelling her med supp application.

She said that she talked with another agent "who showed me a better plan for free and you can't beat free."

Okay fine. Apparently Agent Freebie was not bound by the 48 rule either.

Gotta love it.

How would the 48 hour rule apply in this situation? (Just might mention that CMS has quitely dropped enforcement of this provision, anyway....)

 

[Russ]

An MAPD plan with a modest premium and $0 co-pays is very hard to beat with a Med Sup.

Thank God the plan(BC/BS of Alabama,MAPD), isn't available here in Florida. I did lose a med-supp to it. Can't blame the folks. It saves money.

 

[toc3]

How would the 48 hour rule apply in this situation? (Just might mention that CMS has quitely dropped enforcement of this provision, anyway....)[/quote]

Is this true? Where would we find documentation of this? I had a Med supp appointment this week where I wrote both Husband and Wife, they asked about a PDP, I had them sign an SAC form and scheduled for this week. What could I have done differently?

 

[retread]

How would the 48 hour rule apply in this situation? (Just might mention that CMS has quitely dropped enforcement of this provision, anyway....)

Is this true? Where would we find documentation of this? I had a Med supp appointment this week where I wrote both Husband and Wife, they asked about a PDP, I had them sign an SAC form and scheduled for this week. What could I have done differently?[/quote]

If you are writing a Med Sup, the client needs a PDP. Have them sign the SOA and make your presentation. Walk out with both the Med Sup and the PDP. That's the way it is supposed to work. The client is served and you are on your way. I don't think CMS thought this through until enough complaints came in. This is why I say "Read the instructions on the box".... the first paragraph of the latest SOA states " (Please note that an agent may also discuss a Medicare Supplement policy with you.)"

If you have any of the old SOAs prior to 11/29/08, I would advise you to destroy them.

 

[toc3]

Is this true? Where would we find documentation of this? I had a Med supp appointment this week where I wrote both Husband and Wife, they asked about a PDP, I had them sign an SAC form and scheduled for this week. What could I have done differently?

If you are writing a Med Sup, the client needs a PDP. Have them sign the SOA and make your presentation. Walk out with both the Med Sup and the PDP. That's the way it is supposed to work. The client is served and you are on your way. I don't think CMS thought this through until enough complaints came in. This is why I say "Read the instructions on the box".... the first paragraph of the latest SOA states " (Please note that an agent may also discuss a Medicare Supplement policy with you.)"

If you have any of the old SOAs prior to 11/29/08, I would advise you to destroy them.[/quote]

Has the rule also changed about receiving the SOA at the time of appointment instead of having it ruturned to you by mail?

 

[jdeasy]

If you are writing a Med Sup, the client needs a PDP. Have them sign the SOA and make your presentation. Walk out with both the Med Sup and the PDP. That's the way it is supposed to work. The client is served and you are on your way. I don't think CMS thought this through until enough complaints came in. This is why I say "Read the instructions on the box".... the first paragraph of the latest SOA states " (Please note that an agent may also discuss a Medicare Supplement policy with you.)"

If you have any of the old SOAs prior to 11/29/08, I would advise you to destroy them.

Has the rule also changed about receiving the SOA at the time of appointment instead of having it ruturned to you by mail?[/quote]


Yes, you can have the SOA signed in person before you do your presentation.

Retread is right about all the changes when it comes to med sups, MA plans and PDP. I'm not sure if that's the case if you are there for life ins. or not. The last memo I got from a carrier says that you still must wait 48 hours if you first meet with them about life insurance. Of course, the carrier could be wrong. I just haven't seen anything else that would contradict them.

 

[retread]

...Of course, the carrier could be wrong. I just haven't seen anything else that would contradict them.

The carriers are up to their necks trying to process the apps from AEP and are not worried about updating policy that is liberalized. They only move to issue changes that constrict agent activities.... they may or may not change company policy in this regard.

My point is: there is a distinction between CMS regs and company policy. Companies can never make policies less restrictive than federal regulations, but are at liberty to make them more restrictive. So if the regs are relaxed, they are free to keep the restrictions on the books for their internal policy, and may or may not bring them down to the new level. It depends largely on how much they think it will impact sales, or perhaps please some heavy handed manager.
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Just had a client call and leave a message cancelling her med supp application.

She said that she talked with another agent "who showed me a better plan for free and you can't beat free."

Okay fine. Apparently Agent Freebie was not bound by the 48 rule either.

Gotta love it.

I meant to bring this up before... the word "free" is a no-no in MA plan discussions. It would be interesting to find out where this client picked up on the word "free". CMS specifically forbids using this term. If this agent blatently used this term in his presentation, he should be reported.

This thread illustrates why the use of the term "free" is inappropriate. The beneficiary is still subject to co-pays. Using "free" to describe the plan is a misrepresentation.