Comebacks

[somarco]

How do you diffuse the prospect who wants to challenge you? I will volley with them a few times and then move on. Most of the time I remember a snappy comeback . . . but only AFTER I have hung up.

Here are a few that have been successful.

All carriers are the same.

You are correct. That is why I only use one carrier.

The last time I had (insert carrier name) they didn't pay my claim.

So which carriers do pay claims the way you want them to?

I really need a copay plan and a lower deductible.

My wife just loves it when I find clients like you. She can spend more time at the mall. The small commission checks I earn when a client buys a high deductible plan just don't last as long.

I just got a rate increase and I didn't even use the plan last year.

I feel your pain. The last time I filled my tank, gas was $3.49 a gallon. Today it was $3.58. I think the oil companies are in cahoots with the carriers to stick it to us.

I don't need a plan with Rx benefits since I don't take any medicine.

Good for you. Which carriers allow you to buy homeowners insurance after your house catches fire?

If your plan doesn't cover (insert medicine name) then why do I need your plan?

What was I thinking? Your medicine is $180 per month, but I can show you how to get the same for $110 per month . . . even less if you want generics or equivalents. I have another plan that is $150 per month more and will cover your meds, after you satisfy the $500 Rx deductible. Once you do that, your monthly copays will run you $100 per month.

I don't mind the higher deductible, but I still need my copays.

How much is your copay for brakes, new tires or gutters for your home?

 

[moonlightandmargaritas]

If only you could get logic to sell...

 

[somarco]

If only you could get logic to sell...

Hey Sailor. Come here often?

Now tell me that isn't a logical approach . . .

 

[2112Greg]

If only you could get logic to sell...

Isn't THAT the friggin' truth! I showed a perfectly healthy 32m and 27f couple how to reduce their premiums (they'd been paying 350 a month with Unicare) with an HSA and they said they need to have copays - even though they never go go to the doctor. It's maddening! What are these people thinking???

I'll give them what they want, and I'm confident that I've explained the whole thing (being a big HSA fan), but sometimes logic is defied and they need those stupid copays.

Craziness...

 

[djs]

Bottom line is people like known costs. Copays are easy on the budget, even if the premium is higher. After all, isn't that what insurance is all about, transferring the risk from you to the insurance carrier? If you have to pay $5000 to see the doctor before the insurance pays, how much risk (day to day, not catastrophic) have you really transferred?

You can solve the copay question really fast.... ask them how much money they have in their savings account. If $0.00, they will need copays to protect their non existent budget. HSA's won't help.

Dan

 

[InsuranceBenefitsGroup]

Give'em the copay plan and shut em up. Besides, you don't get paid on HSA contributions, so sell the copay plan and EARN your 1st yr commish.

I love the copay addicts. Ilogical all the way to the bank baby!

 

[djs]

It's the same with deductibles in P&C. Higher deductibles (to an extent) make a lot more financial sense, but, it amazes me how many people want $100 deductibles (or lower). I point out that they pay the difference every six months between the $100 deductible and a $500 deductible but they still want the lower deductible.

Then others want a very high deductible, since they want the lowest payment possible (wouldn't have insurance if the bank didn't make them). But then, they can't afford the deductible if something happens, so the insurance isn't working for them as it should.

Logic doesn't play into peoples finances. It's funny when I have these conversations with both mom and dad at the same time. Mom wants to be 'logical' about making it easy to take the kids to the doctor (i.e., copay) and dad wants to be 'logical' about the family finances. Different points of view of logic. It's a matter of knowing what is important to the client, and helping them get that, along with a little education.

Back on topic though, Somarco's comeback list is great!

Dan

 

[GreenSky]

If you have to pay $5000 to see the doctor before the insurance pays, how much risk (day to day, not catastrophic) have you really transferred?

If the copay is $35 and the office visit cost is $70 they still have to pay $2,500 for the $5,000 of office visits. (Who the hell has 80 office visits in a year?)

The premium for this $35 per visit savings is probably $200 a month - or just about the $2,500 they "saved." Even in this VERY unlikely situation of 80 office visits, at best dollars are being traded.

What risk has been transferred? The only good that has happened is that the premium is higher and therefore so is the commission every month.

I have sold copay plans mainly for children or where the policy only offers 3 or 4 office visits before the deductible for people who really won't benefit from the tax implications of an HSA. But the majority of my clients for the past few years are on HSA plans and are very happy with them.

Rick

 

[djs]

Rick

You're preaching to the chior. I'm a big fan of the concept of HSA's, though it's hard to get mom to be for some reason. I don't push clients to hard to get out of their comfort zone on this. I walk them through it, some get it, some don't, some don't want to, some don't like the idea. I don't beat them over the head, it's their health insurance, not mine.

Office visits in my area (bay area, ignoring Walmart) are more like $150 to $200 if not repriced, so your math still works, but different numbers apply. This is also why people like group coverage, people who have been on group don't understand what your talking about.

Dan

 

[GreenSky]

Office visits in my area (bay area, ignoring Walmart) are more like $150 to $200 if not repriced, so your math still works, but different numbers apply. This is also why people like group coverage, people who have been on group don't understand what your talking about.

Dan

But office visits ARE repriced in an HSA. Which insurance carrier allows $150-200 for an in-network office visit?

Rick