CIGNA MedSupp Experience

[senior-advisor-indiana]

That's what I've heard, but they just haven't ever been a very viable option in Texas. Average rates, terrible comp. I've been really happy with Forethought's Plan G since 2010. Was already priced great, and their last bump was 3% if I remember right. Hoping to see that again for sure.
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What good is it going to do calling those poor folks stuck on MOOs Plan N? Just going to scratch open a nasty wound if you ask me. Unless you have a good MA option for them, they're done.

Some of them are able to switch. I don't call the ones that I know for sure can't switch, they usually call me.

 

[Superchief]

Some of them are able to switch. I don't call the ones that I know for sure can't switch, they usually call me.

Understandable. Well, look on the bright side. Eventually UHCs Tier 3 (or whatever they call it) Plan N rate will be cheaper and maybe you can move them there.

 

[sman]

DO they have a E-app or phone sales process?

Yes. It is a very easy e-app.

 

[JimmyUt]

Yes. It is a very easy e-app.

I was asking about New Era, sorry not to clarify. Do they have an E-App

 

[sman]

Not that I don't care, I'm just not going to operate out of fear and preemptively call them thus opening a can of worms. Mrs. Jones your rate went up, are you ok? Can you afford that? Is everything alright? Am I going to lose my commission? I'm serving myself, not them. I prefer to remind them when I write the app... these rates are going to go up. If you ever feel they are a burden or if you need to make a change please call me and we'll work together to try and find something more affordable. I say I remind them because most of my business is replacement business where I'm moving someone who took a hike on their overpriced Plan F and put them in a D, G or N.

What makes you think we are operating out of fear? You come across as belittling anyone who doesn't do it your way. I really don't get the constant "fear" comments from you. Seriously, why do you think it's fear?

And how is it not serving your client by making them aware of a lower priced plan? Or as you said, serving yourself? I add value to my clients. And they reward me with a steady stream of referrals.

I simply tell the new client they can expect rate increases annually and I will make them aware if there is a plan that will save them money. If that makes me operating in fear and only serving myself, then I guess I'm guilty as charged. But my bank account really likes the way I work.

Lastly, any expert will tell you client acquisition is more costly than client retention. Of course, I haven't done any type of marketing or lead purchase in about 6 or 7 years so I really don't have a good grasp on the cost of acquiring new clients. Other than the cost of my phone so the referrals can call me.
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I was asking about New Era, sorry not to clarify. Do they have an E-App

Yes, I was speaking of New Era. Their sister company is Philadelphia American. Not sure which one, if either, is in Utah.

 

[JimmyUt]

Yes, I was speaking of New Era. Their sister company is Philadelphia American. Not sure which one, if either, is in Utah.

It is actually Philadelphia, thanks for the info. Can you recommend someone for contracting, the sources I currently use don't have them and these guys are priced at or near the top once folks hit their 70's out here.

 

[Superchief]

What makes you think we are operating out of fear? You come across as belittling anyone who doesn't do it your way. I really don't get the constant "fear" comments from you. Seriously, why do you think it's fear?

And how is it not serving your client by making them aware of a lower priced plan? Or as you said, serving yourself? I add value to my clients. And they reward me with a steady stream of referrals.

I simply tell the new client they can expect rate increases annually and I will make them aware if there is a plan that will save them money. If that makes me operating in fear and only serving myself, then I guess I'm guilty as charged. But my bank account really likes the way I work.

Lastly, any expert will tell you client acquisition is more costly than client retention. Of course, I haven't done any type of marketing or lead purchase in about 6 or 7 years so I really don't have a good grasp on the cost of acquiring new clients. Other than the cost of my phone so the referrals can call me.
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Yes, I was speaking of New Era. Their sister company is Philadelphia American. Not sure which one, if either, is in Utah.

Didn't mean to sound belittling by any means. Hard to interpret tone in plain text and I tend to speak quite direct. I'm also speaking from personal experience. Just my opinion though; nothing truly right or wrong with either style. When I first started, I definitely called my clients preemptively when their rates jumped, and after doing that for a bit I found that the large majority of them were fine with it and I was just wasting my own time and energy. Most of them didn't want to change plans or didn't really understand why I was calling, and I felt as though I was having to resell them. Maybe it was my approach. So instead I just leave them be and go look for new clients. Most of the referrals I get are at point of sale; I certainly don't have a phone ringing off the hook with referrals as you do.

When I did call my own clients after a rate bump it was for fear that I would lose them and thus lose my renewal commission. So it felt self serving more than out of genuine concern. Once I came to the realization that those renewals were impermanent (in the long run) whether I did call them or not, I found myself enjoying my business more by just looking for new people to help. Again, I solely seek out replacement business, so when I save an elderly person several hundred a year they tend to appreciate it, and remember me. So if they have an issue, I feel confident they'll call me.

Again, I truly mean no offense. Just offering my take for what it's worth.

 

[sman]

It is actually Philadelphia, thanks for the info. Can you recommend someone for contracting, the sources I currently use don't have them and these guys are priced at or near the top once folks hit their 70's out here.

Just sent you a PM with some info.
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Didn't mean to sound belittling by any means. Hard to interpret tone in plain text and I tend to speak quite direct. I'm also speaking from personal experience. Just my opinion though; nothing truly right or wrong with either style. When I first started, I definitely called my clients preemptively when their rates jumped, and after doing that for a bit I found that the large majority of them were fine with it and I was just wasting my own time and energy. Most of them didn't want to change plans or didn't really understand why I was calling, and I felt as though I was having to resell them. Maybe it was my approach. So instead I just leave them be and go look for new clients. Most of the referrals I get are at point of sale; I certainly don't have a phone ringing off the hook with referrals as you do.

When I did call my own clients after a rate bump it was for fear that I would lose them and thus lose my renewal commission. So it felt self serving more than out of genuine concern. Once I came to the realization that those renewals were impermanent (in the long run) whether I did call them or not, I found myself enjoying my business more by just looking for new people to help. Again, I solely seek out replacement business, so when I save an elderly person several hundred a year they tend to appreciate it, and remember me. So if they have an issue, I feel confident they'll call me.

Again, I truly mean no offense. Just offering my take for what it's worth.

Tone is usually not transferable in print. However, using terms like "operating in fear" is fairly clear. Now it appears you said that because that's how you operated in the past. Not everyone operates the same way.

I assure you I don't operate in fear. I just feel I'm doing the client a service by proactively making them aware of savings. When a rate increase comes and there are no savings, it's just a simple email telling them their rate is still the lowest. And when there are savings, again, an email with that information. Most people won't make a change unless we get into the $10+ per month rate difference. But I'd rather MY client hear from ME about savings than from somebody else.

And I never said my phone was ringing off the hook with referrals. Just that I get a steady stream of referrals. Rarely does a week go by where I don't get at least one referral. That's not doing a ton of business, but I've built my book to the point where I don't have to go beat the bushes anymore. And I would suspect you don't either if you've been selling Med Supps for 9 years.

 

[Superchief]

Well I haven't exactly been setting records. And the first year plus was captive so I'm not seeing any of that money now. However I feel that one should never stop beating the bushes. Thinking about this more, I would say that is my forte, seeking new business and developing new relationships.

 

[sman]

One should never stop beating the bushes. Thinking about this more, I would say that is my forte, seeking new businessvand developing new relationships.

I develop new relationships every week through my referrals. I just don't do mailings, buy leads, lists, etc.