Cold calling rules

[theinuranceguy]

Re: Cold calling rules;

What your going to see are these fly by night Medicare Advantage agencies (yes some insurance agencies ONLY sell these) fall off the books really quick. I know some FMO's that have already begun to downsize, because they put alot of stock in these MA's.

Ill have to see what the commissions look like, but for less competition Ill take a cut in commission, no doubt Ill close more deals and make more money over all.

Now at $10 per month per app... thats iffy, That may take some time to make a decent income. By time I mean Years

 

[scottfree]

Re: Cold calling rules;

These rules are not new. Humana got in trouble in Wal Mart (when they had booths there). Agents were walking around the store approaching seniors. As of early 2007, CMS said no more, that you have to be approached by a senior.

No cold calling? Have you talked to a senior that was not on the DNC list? They are getting slammed by telemarketers.

As far as I know, this does only apply to MA and Part D. Supplements, final expense, and other plans are still a free for all, and there is the loop hole.

Midwest, There is that loophole like you suggest but if you set an appointment for supplements and you tell them their options and they want info on MA's you have to come back in 48 hours.

At out AR BCBS meeting they seemed to say that if you set an appointment to cover all their options with Medicare you could talk about MA's, PDP's and Supps without having to set another appointment. As long as they know up front of what you are going to talk about. This meeting was last week and before this BS was released. I don't know one senior that wouldn't want you talk about all their options at one time.

What the hell is CMS thinking? Sorry Mr. Client I can't tell you about these plans, I will come back in 2 days and since it is 8:00 now, lets make the appointment for 8:01.

 

[allhealthandlife]

Re: Cold calling rules;

I wonder if there is compliant literature that we are suppose to show the prospect to prove to them that we really do have to come back in 48 hours to give them the whole story.

Prospects are going to think that either we are loopy or that it is some type of standing room only close when we tell them about the " 48 hour rule "

 

[Winter_123]

Re: Cold calling rules;

What a frigging mess. I am still deciding whether to get involved with the whole MA thing this season. Right now I am thinking I will just take a pass but may change my mind. It is not just the marketing regs thing. It is also the problems with PFFs plans current and future which, in my area, cannot be gotten around by going with PPO's that have skimpy networks. I understand that is not true in all areas and I accept that.

This whole MA thing is a timebomb. Congress will keep cutting the subsidy to them so the premiums will keep going up over time to to the point where you have some crappo plan with a 5000 MOOP and you are paying 90 per month for it. Meanwhile, all these clients will have been in MA's for a couple years so will have lost the right of return to a supp which would be a better deal for a few extra dollars after MA premiums go up and up. What a mess.

Then to top it off you lose your license because you go blind reading the regs trying to figure out if you can talk about medicare options when you make an appointment to talk about medicare options. Oy!

Winter

 

[Frank Stastny]

Re: Cold calling rules;

What a frigging mess. I am still deciding whether to get involved with the whole MA thing this season. Right now I am thinking I will just take a pass but may change my mind. It is not just the marketing regs thing. It is also the problems with PFFs plans current and future which, in my area, cannot be gotten around by going with PPO's that have skimpy networks. I understand that is not true in all areas and I accept that.

This whole MA thing is a timebomb. Congress will keep cutting the subsidy to them so the premiums will keep going up over time to to the point where you have some crappo plan with a 5000 MOOP and you are paying 90 per month for it. Meanwhile, all these clients will have been in MA's for a couple years so will have lost the right of return to a supp which would be a better deal for a few extra dollars after MA premiums go up and up. What a mess.

Then to top it off you lose your license because you go blind reading the regs trying to figure out if you can talk about medicare options when you make an appointment to talk about medicare options. Oy!

Winter

I saw the handwriting on the wall when PFFS plans first came out. I have never gotten involved in them and don't plan to. (I do not have the option of selling HMO's or PPO's in rural Missouri.)

If a prospect wants a PFFS plan then I recommend that they contact another agent.

Med Supps are still alive and well in Missouri. So am I.

 

[Cheech]

It appears that CMS is stating that all calls must be recorded.

So if you meet with a client regarding another product (final expense, Med supp) for them to meet w you again in 48hrs for MA you would have to record the conversation with the client.

Correct me if I am wrong?

 

[MedSuppPro]

It appears that CMS is stating that all calls must be recorded.

Yesterday, I heard this at a meeting...
Where did this "appear"? Maybe you were at the same freeking meeting!

 

[GreenSky]

It appears that CMS is stating that all calls must be recorded.

So if you meet with a client regarding another product (final expense, Med supp) for them to meet w you again in 48hrs for MA you would have to record the conversation with the client.

Correct me if I am wrong?

You must be able to prove to CMS that the meeting was set up in advance and the items to be covered. You can either record the call or send out a letter that must be received prior to the meeting.

By the way, we've only talked about MA plans. You need to do the same for PDP. In 2010, when you replace a PDP you only get a renewal commission. How hard are you going to work to help your client find the plan that covers his medications for $6?

The only thing worse than Congress is CMS.

Rick

 

[Frank Stastny]

How hard are you going to work to help your client find the plan that covers his medications for $6?

The only thing worse than Congress is CMS.

Rick

I don't do it now for $50.

I suggest that they either go on line or to their local pharmacy. If they start taking a new drug that isn't covered by the plan I recommend then I am an SOB. That could jeopardize my credibility with them and cause me to lose their Med Supp business.

It isn't worth the $50.00 especially when I have spent as much as two hours on the phone with them answering all their questions and looking up their meds.

Let the pharmacist take that heat.

 

[OkWhy]

Heck, I sure picked a fine time to start out in the insurance business. Sigh! (Well, it was either this or real estate.)