Explaining MAPD vs Supplement

[Panda1]

I may be late to this question but here's a story I tell.
Are you a betting person? Well with MAPD You go to the casino at 11:59 pm on December 31 and put down $4000 -5000 and at midnight you begin playing the game. Every time you have an X-ray, a lab, or a surgery the dealer takes some money off your pile. At the end of the year you pick up what's left, go home and come back with another $4000 -5000 and start over. But if you run out of money in August the dealer will pay your bills for the rest of the year. Then you start again.

 

[Panda1]

(Continued) When I give them the MEDSUP premium, they seem to figure it out.

 

[rmhaire]

I may be late to this question but here's a story I tell.
Are you a betting person? Well with MAPD You go to the casino at 11:59 pm on December 31 and put down $4000 -5000 and at midnight you begin playing the game. Every time you have an X-ray, a lab, or a surgery the dealer takes some money off your pile. At the end of the year you pick up what's left, go home and come back with another $4000 -5000 and start over. But if you run out of money in August the dealer will pay your bills for the rest of the year. Then you start again.

Good way to do it.

But down here I'd have to double those numbers.

 

[annon123]

(Continued) When I give them the MEDSUP premium, they seem to figure it out.

Or... to continue the story to be fair...

With a MEDSUP you put less on the table up front (MEDSUP premiums and deductible for, for example G) and if your luck is really, really bad you pay nothing more and far less than 4-5K although if your luck is good you won't get that money back. But if your luck is really really bad with 4-5K on the table you will pay that every year forever because you are trapped at that table with those rules, where as if your luck is really, really bad with a medsup you will pay far less forever. Oh, and as you get older the house stacks the odds more and more against you such that the odds become higher and higher that your luck will be really, really bad. Oh, and your luck can be bad in any state using almost any facility with a medsup where as generally it can't with a MAPD.

Now as a gambler - how much will you gamble that you will have good luck forever and ever and ever and will escape how the house is rigging the odds against you the longer you play the gambling game?

 

[EckoRomeo]

Prepay versus pay-as-you-go is the easiest way to explain the difference. With a supplement you're no longer a slave to an insurance company but you have to buy your freedom. Then when I give them the supplement premium majority choose to be slaves to an insurance company. Because most aren't concerned with going out of state for their healthcare but they are concerned with buying groceries.

 

[EckoRomeo]

Or... to continue the story to be fair...

With a MEDSUP you put less on the table up front (MEDSUP premiums and deductible for, for example G) and if your luck is really, really bad you pay nothing more and far less than 4-5K although if your luck is good you won't get that money back. But if your luck is really really bad with 4-5K on the table you will pay that every year forever because you are trapped at that table with those rules, where as if your luck is really, really bad with a medsup you will pay far less forever. Oh, and as you get older the house stacks the odds more and more against you such that the odds become higher and higher that your luck will be really, really bad. Oh, and your luck can be bad in any state using almost any facility with a medsup where as generally it can't with a MAPD.

Now as a gambler - how much will you gamble that you will have good luck forever and ever and ever and will escape how the house is rigging the odds against you the longer you play the gambling game?

I'm pretty sure you have to pay an ever increasing premium for a med supp. You also aren't including the higher RX cost. With dental and vision monthly premiums and copays can easily exceed $250/mth. There are MAPD's that have 3k Moop. People don't buy a supplement to "save" money. They probably won't. They buy it for the freedom.

 

[AmCoble]

Clients seem to relate to it by thinking of it as restaurants: Med Supp plans are like that of a Buffet, you pay a higher price, but it's all covered. Med Advantage plans are like that of an al-la-cart menu plan. You only pay for the services you use.