Excess Charges (Med Sups)

[Greenhorn]

Anybody know if most cardiologist, oncologist, etc. etc.
Take the medicare approved amount for their services??
Plans D&G are great premiums, but 15% of a cardiologists bill could be an eye opener. Oh yea G pays 80%.

Lets hear it med sup pros!!

Also can you door knock med sup leads? I say no, but I had the head of an IMO tell me different.

Greenhorn
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[G.Gordon]

Yes you can door knock supp. leads.

Excess charges has to do with providers that do not accept assignment for their services. So the beneficiary would not be saddled with 15% of their original charge, but 15% more than the assigned rate. Look up Limiting Charge on medicare.gov.

The only way a beneficiary gets stuck with the actual charges is if they sign an agreement saying they will pay the difference between medicare's rate and their charges. It is a big production and doesn't happen by accident.

There are very few doc's that don't accept medicare assignment and most that I've encountered are in a specialty such as ortho, plastic serg (read vanity), or weight loss centers.

Almost 90% of my clients are on plan D and G, with the majority on G, and I'd bet in the past five years there haven't been $100 worth of excess charges come to my attention. And IMO it is stupid to pay $250-400/year more in premium to get the part B ded. paid. By June 2010 the 80% excess on plan G goes to 100%.

 

[Todd King]

Good Explanation G.Gordon. Of course the only other problem with the D and G plans are the outdated "At Home Recovery" benefits that will of course be eliminated in 2010.

 

[G.Gordon]

Good Explanation G.Gordon. Of course the only other problem with the D and G plans are the outdated "At Home Recovery" benefits that will of course be eliminated in 2010.

If it's outdated and will be eliminated due to NON-USE... what's the problem?

From the stats... less than .002% of medicare beneficaries ever used the AHR benefit included with supplements. This is mostly do to changes in the late 90's to medicare benefits related to AHR.

Actually, now during presentations I include the fact that the AHR benefit will be eliminated for the above reasons.

 

[Todd King]

If it's outdated and will be eliminated due to NON-USE... what's the problem?

From the stats... less than .002% of medicare beneficaries ever used the AHR benefit included with supplements. This is mostly do to changes in the late 90's to medicare benefits related to AHR.

Actually, now during presentations I include the fact that the AHR benefit will be eliminated for the above reasons.

I did say "problem", but I was referring to trying to sell it as a benefit, when in fact it hasn't been a benefit for years. But just try convincing some other agents of that and you will never get it through to them.

 

[G.Gordon]

I did say "problem", but I was referring to trying to sell it as a benefit, when in fact it hasn't been a benefit for years. But just try convincing some other agents of that and you will never get it through to them.

When someone is weak on knowledge and therefore confidence they have to resort to making "big deals" out of non-issues.

And... we're in the business of selling ourselves to clients... not agents on known facts. I don't waste my breath on agents that try to argue a point contradictory to fact.

 

[Greenhorn]

Thanks Guys, I thought Frank would chime in on this one??
Greenhorn

 

[captain94]

Paging Mr Frank Stansky.....mr. Frank Stansky....

 

[Todd King]

Paging Mr Frank Stansky.....mr. Frank Stansky....

Ummm, you might want to check the spelling of Frank's last name. Don't say I didn't warn you when he tracks you down and uses one of his many guns to get his point across. We all know how mean Frank can get!

 

[Frank Stastny]

Present and still above ground! Sometimes I have to look at my drivers license to check the spelling of my last name.

Sorry guys, I've been working all day. Promise not to let that happen again.

Plan D is the only one I recommend and sell.

However, I encourage all agents in Missouri to sell Plan F. It sure makes selling Med Supps a lot easier when I can explain that the only reason the agent sold them a Plan F is because he made more commission. Not because Plan F is better for the policy holder.

I agree, At Home Recovery is hardly ever used and isn't a big selling point but the premium difference between Plan D and Plan F definitely is, at least in Missouri.

I have found that the majority of seniors make their decision on price, not benefits either real or imagined. It doesn't hurt anything to have At Home Recovery as a part of Plan D. It is not a benefit that is driving the premium higher and when it is gone insurance companies are not going to lower their premiums.

In my opinion they can also do away with the Foreign Travel benefit. A short term policy from a travel agency is much better coverage, it pays to repatriate your client in the event of a medical emergency. The foreign travel coverage provided by a Med Supp policy I have been told will not do that.

I advise all of my clients traveling to other countries to take a short term policy before traveling outside the US.