Gap Insurance

[somarco]

This is not my market but curious about the types of "gap" plans that are often stacked with Medicare plans. A few that come to mind include . . .

hospital indemnity
cancer
critical illness
dental
vision
home health (?)
short term care

I am sure there are others I have missed.

Which ones are popular with beneficiaries?

 

[axeman462]

This is not my market but curious about the types of "gap" plans that are often stacked with Medicare plans. A few that come to mind include . . .

hospital indemnity
cancer
critical illness
dental
vision
home health (?)
short term care

I am sure there are others I have missed.

Which ones are popular with beneficiaries?

with Medigap I usually do a DVH plan.

with MAPD about the only thing I do is a HIP, usually with Medico/Wellabe. I often tack on the Cancer rider with it though.

Outside of that I personally don't do many "gap" plans, unless you consider FE a "gap" plan?

 

[wolf5150]

UHC/Golden Rule and Allstate Health/National General are popular carriers. However, UHC limits their offerings for the 65+ segment. Allstate/Nat Gen does have accident and fixed indemnity plans for seniors.

 

[somarco]

@wolf5150 thanks, but what I want to know if there are other types of gap policies offered that I did not list.

For instance, is there a policy to pay for a brain transplant . . .

 

[rmhaire]

I always offer a HIP when I sell a MA plan. And offer the others when the shoe fits.

But I'd suggest Home Health Care. I never believed in it until I was on it last year myself.

I had three of the hottest nurses coming by each week. It was all I could do to try and stay sick.

But HHC is worth looking into.

 

[somarco]

@axeman462 thanks . . . and no, FE is not what I would consider a gap plan.

 

[somarco]

@rmhaire is HHC the same as STC (short term care)? Who offer those plans?

 

[annon123]

For instance, is there a policy to pay for a brain transplant . . .

I, personally, would like a life transplant policy that has no waiting period please. I know a few others I could sell one to as well. LOL

 

[rmhaire]

@rmhaire is HHC the same as STC (short term care)? Who offer those plans?

They're close but not quite the same.

STC is more transitional. From hospital to the home. Usually a few weeks.

HHC is more long range. After you get home and can last a year or more.

Most supplemental companies have them. GTL, Aetna and Heartland have them. Humana says they have one but I haven't looked at it.

 

[LeeV]

Learned something very interesting to me a few years ago. Most GAP plans (medical) have very low loss ratios. I have started to use Fully Insured GAP plans inside a self-funded high deductible medical plan to reduce the costs. Stop loss carrier loves it because the claims under the high deductible never hit the self-funded plan.