Closing a book of business

[DonP]

Caveat, not an agent

"when you were first eligible for Medicare Part A at 65,"

Does that mean the whole IEP, or just the month one actually turns 65?

That's a good question . I believe it's any month the whole iep period . But whats very important is part A and b must be the same date for trial right 1. In 12 months can try a mapd and if you don't like can gi sign up for any med sup . Trial right 2 can be any time you get a med sup( ex working 68 yr old ) . You can always try a mapd at any time and have 12 months to go back to that plan . I've probably moved 40 med sups to mapd ( every single one they called me to do ) . Not one time has anyone requested to move back to a med sup ever .

 

[LostDollar]

That's a good question . I believe it's any month the whole iep period . But whats very important is part A and b must be the same date for trial right 1. In 12 months can try a mapd and if you don't like can gi sign up for any med sup . Trial right 2 can be any time you get a med sup( ex working 68 yr old ) . You can always try a mapd at any time and have 12 months to go back to that plan . I've probably moved 40 med sups to mapd ( every single one they called me to do ) . Not one time has anyone requested to move back to a med sup ever .

Thanks, I'll try to remember that.

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Caveat, not an agent.

It just seemed to me like yorkriver might be interpreting trial right 1 too narrowly, applying it just to month 4 of the iep rather than the whole iep; thus incorrectly eliminating the option to use trial right 1.

(The post did not clearly specify whether or not those clients are still in iep, but implied to me that they are.)

 

[Newby]

I tried to avoid the companies that did that. The longer I am in this business, the more I dislike drug companies, insurance companies, and politicians. If life were fair, all fifty states would have a birthday rule.

Ha! Yes just jack the rates up on everybody. That will teach them.

Birthday rule. Ha!

 

[LostDollar]

Ha! Yes just jack the rates up on everybody. That will teach them.

Birthday rule. Ha!

This is a perspective I would never have realized without reading I have done here.

It shows me the concept of actions having unintended negative consequences, but is still way too complex for me really understand and apply when reading about the various insurance options and proposals that pop up here.

 

[Newby]

This is a perspective I would never have realized without reading I have done here.

It shows me the concept of actions having unintended negative consequences, but is still way too complex for me really understand and apply when reading about the various insurance options and proposals that pop up here.

It's a simple concept to understand. If you are an insurance company and you can screen people in bad health from being approved, do you think your rates would be lower or higher than if you had to accept unhealthy applicants?

Birthday rules help people in bad health but penalize people in good health.

 

[25MercuryHP]

Inquiring minds want to know? Why do Medicare Supplement companies close a book of business and then come out with a new plan? Can someone explain the logic in it to me?

Thats why you sell life insurance that needs only one customer service date and has zero rate increases.

 

[LostDollar]

Thats why you sell life insurance that needs only one customer service date and has zero rate increases.

Except when they raise the rate several thousand dollars between a quote and purchase.

 

[T Sparks]

Except when they raise the rate several thousand dollars between a quote and purchase.

That's only if you answer yes to questions such as...

Has one been to a Trump rally in the last 6 months.

 

[25MercuryHP]

Except when they raise the rate several thousand dollars between a quote and purchase.

30 years and that has never happened in guaranteed whole life experience.

Maybe if u sell that variable

 

[renee15]

Inquiring minds want to know? Why do Medicare Supplement companies close a book of business and then come out with a new plan? Can someone explain the logic in it to me?

Property and Casualty does the same thing-especially with auto policies.