Farm Bureau MedSup?

[Rearden]

Lady I talked to said a Farm Bureau agent was going to sell her a plan F, age 65 GI, for $92 a month.

Much lower than what else is out there, the agent said, because they don't make a commission on it.

Bull? What's the catch? She's in TN.

 

[G.Gordon]

Traditionally Farm B. uses BCBS products. What are your T65 rates for this client in that area? Should be the exact price if that is FB's source.

 

[Norwayguy]

Sure its not a high deductible plan f? In my state the DOI has a publication listing all the med sup carriers and premiums I would check to see if your state has the same and you can inteligently answer these questions, I don't buy the no commission BS in my state the carriers that sell direct are in the same ball park as everyone else.

 

[Rearden]

Great answers, guys -- keep it coming.

I'm thinking it's BCBS.

Bet it's the High deductible Plan F. Prospect was pretty educated on the basics of MedSupps, and believed what she was quoted on was an F

 

[BenS]

That would be really high for a high ded plan F.

 

[DS4]

That premium is too low for F, and, too high for HD F.

 

[VolAgent]

Farm Bureau of TN does write their own Med Supps. They do offer a health plan, not insurance, which is administered by BCBS of TN.
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Looking at their site, that rate does appear to be right. Also, their rates are unisex.

 

[Rearden]

Damn. That's a killer price for a Med Supp in TN -- most are $120-$135 FNT @ 65.

How do they do it?
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Here we go.

Apparently TRH offers "Health Plans" and not "Insurance."

After searching through some old threads, it looks like TRH Health Plans (I'm assuming Med Supps too) are not guaranteed renewable and can be cancelled for any reason with a 30 day notice.

Competition

BCBS "administers" the plan.

That look accurate?
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Wait. TRH Website says the Med Supp is guaranteed renewable.

Hmm...

 

[jacobtn]

The rate is correct they are very competitive at 65 for some reason, not so is a client ages I usually show them the trh rate sheet and explain they will get a much higher rate later and it is easy to put them on a different carrier. It is not blue cross but you are correct bluecross administers the coverage.

I do call bs on the commission. you know theres a commission...

 

[Rearden]

Are you saying you sell them on another plan that's $20 a month higher today or follow up with them in a year or two when the rate increases kick in?

The rate is correct they are very competitive at 65 for some reason, not so is a client ages I usually show them the trh rate sheet and explain they will get a much higher rate later and it is easy to put them on a different carrier. It is not blue cross but you are correct bluecross administers the coverage.

I do call bs on the commission. you know theres a commission...