ESRD Regs/Medicare

[goillini52]

I can't justify adding anything to Medigap, especially hospital indemnity.

Cancer, Dental/Vision/Hearing, Short Term Nursing Home, Home Health Care???

 

[goillini52]

I edited it to make it less jerkish.

Agent indicated that they sells it to get extra money for the health issues, not because of additional need.

There is some assumption in fact, though. I don't know if they're fixed income. I also don't know about their medical care. Everything else is pretty well supported

Maybe I was a little bit harsh and for that I apologize. Not a justification by any means, I tend to write things as I'm thinking them and I could do better taking a few minutes to re-read before posting.

What an AssH0le.

 

[Travis Price]

What an AssH0le.

Paging Dr. Puck, Hugh

 

[kstein]

We'll have to agree to disagree. I believe in getting the most bang for your buck and if an insurer is kind/dumb enough to offer a decent plan at a decent price without answering health questions than that is on them. If it were me and my health was very poor at 65, I'd buy a Plan G and a fully loaded HI plan.

Overinsurance is a problem for the whole group, not just your client. The purpose of insurance is transfer of risk, not profiting off your medical condition. That's Insurance 100.

If your client is on fixed income. Paying that 80-150 until they "hit the jackpot" is reducing the funds they have available unnecessarily. That's a week of groceries. BAD

They're more apt to go to the hospital when they don't need to get that payday. That spends Medicare dollars, increases Medigap claims, and your Hospital Indemnity claims. Not to account for wasted resources for people that may actually need it. BAD.

If the insurance company is paying out 5-10 grand for your clients annually, they're jacking up rates to stay profitable for the group. Medigap is also increasing rates to cover claims. Medicare spends dollars that could be allocated elsewhere. BAD.

I get it's only a handful of clients, but multiple agents doing a handful of clients can cause major issues disrupting the market.

 

[vic120]

We'll have to agree to disagree. I believe in getting the most bang for your buck and if an insurer is kind/dumb enough to offer a decent plan at a decent price without answering health questions than that is on them. If it were me and my health was very poor at 65, I'd buy a Plan G and a fully loaded HI plan.

You could always supplement the plan G with a good MA plan with dental and vision that would also include an addition drug cov to supplement the PDP plan as well


Funny thing is I did have one ask me to do just that one AEP

 

[Travis Price]

We'll have to agree to disagree. I believe in getting the most bang for your buck and if an insurer is kind/dumb enough to offer a decent plan at a decent price without answering health questions than that is on them. If it were me and my health was very poor at 65, I'd buy a Plan G and a fully loaded HI plan.

It's not an agree to disagree issue. It's a principle of insurance. You're having your clients game the system for profit. That causes issues with claims experience, Medicare funds, Medigap claims experience.

Insurance company is going to be profitable despite the overinsurance. Your client and everyone in the risk pool are the ones that pay for it.

 

[StephanieCJ]

It's not an agree to disagree issue. It's a principle of insurance. You're having your clients game the system for profit. That causes issues with claims experience, Medicare funds, Medigap claims experience.

Insurance company is going to be profitable despite the overinsurance. Your client and everyone in the risk pool are the ones that pay for it.

He doesn't care. It's all in a commission check to him...

 

[Travis Price]

I don't want to be a jerk about it. I think it's a little short sighted, but I'm not the insurance police, so my thoughts on it is really irrelevant.

 

[goillini52]

I don't want to be a jerk about it. I think it's a little short sighted, but I'm not the insurance police, so my thoughts on it is really irrelevant.

If this type of coverage wasn't good for the policyholders, do you really think the insurance companies would offer it?

 

[Travis Price]

If this type of coverage wasn't good for the policyholders, do you really think the insurance companies would offer it?

I don't think Hospital Indemnity is bad. I think the agents application of it in this case is problematic.. HOWEVER, I'm just some *** on an internet forum..