HD - Plan F also gone in 2020?

[LostDollar]

Anyone have anything official on this? I've not heard one way or the other and was thinking about moving a client into it. They owe about 15K in medical bills but "can't afford" a G plan.

If they could pass underwriting that is (history of heart issues).

If they can pass underwriting and you want a high deductible plan, why not just look at HDF now?

However, if they cannot afford a Plan G premium, how will they afford the full high deductible plan deductible? And, if the bills are already incurred, can they be paid with a newly purchased supplement?

Side comments, I find the high deductible plan works well, but you do need to be able to track review and pay the bills. Personally, I also would not recommend the plan to someone unless they are able to set aside part to all of the difference between a high deductible plan premium and a regular plan premium as a reserve to be used for paying the deductible amounts. For myself, I am working to get to a reserve fund equal to two years of the deductible amount.

 

[JimmyCrappedCorn]

If they can pass underwriting and you want a high deductible plan, why not just look at HDF now?

However, if they cannot afford a Plan G premium, how will they afford the full high deductible plan deductible? And, if the bills are already incurred, can they be paid with a newly purchased supplement?

Side comments, I find the high deductible plan works well, but you do need to be able to track review and pay the bills. Personally, I also would not recommend the plan to someone unless they are able to set aside part to all of the difference between a high deductible plan premium and a regular plan premium as a reserve to be used for paying the deductible amounts. For myself, I am working to get to a reserve fund equal to two years of the deductible amount.

As an agent if I run into some nut case that wants a high deductible F I am going to cut and run fast. In fact I can't run away fast enough or hard enough. I don't care if I can make money off them or not their money is no good here. I don't need their grief and I can afford not to have to and that is what makes being in business for yourself so great.

 

[GreenSky]

As an agent if I run into some nut case that wants a high deductible F I am going to cut and run fast. In fact I can't run away fast enough or hard enough. I don't care if I can make money off them or not their money is no good here. I don't need their grief and I can afford not to have to and that is what makes being in business for yourself so great.

I'd go broke if I only wrote HDF. But the people buying the plan are not broke. They do the math and find it better to "risk" $2,240 than pay an extra $1,500-2000 for Plan F or G.

I probably have 20 HDF plans on the books and have yet to receive one phone call that anyone is unhappy with it. This is the plan both my wife and I will have by the end of the year.

It's not the money you (don't) make selling HDF. It's gaining a client which also gains a potential source of referrals along with cross selling opportunities.

If you think agents sell this because making an annual commission of $75 is important then you have the wrong impression.

Rick

 

[JimmyCrappedCorn]

I'd go broke if I only wrote HDF. But the people buying the plan are not broke. They do the math and find it better to "risk" $2,240 than pay an extra $1,500-2000 for Plan F or G.

I probably have 20 HDF plans on the books and have yet to receive one phone call that anyone is unhappy with it. This is the plan both my wife and I will have by the end of the year.

It's not the money you (don't) make selling HDF. It's gaining a client which also gains a potential source of referrals along with cross selling opportunities.

If you think agents sell this because making an annual commission of $75 is important then you have the wrong impression.

Rick

I'm not running in to many of those people luckily but I'm taking note and listening. One of my problems listening might be from the decade long or better barrage of e-mails, robo calls, and telemarketing from United American. They been trying to sell me on selling that High Deductible F so long its painful.

 

[Chazm]

I'm not running in to many of those people luckily but I'm taking note and listening. One of my problems listening might be from the decade long or better barrage of e-mails, robo calls, and telemarketing from United American. They been trying to sell me on selling that High Deductible F so long its painful.

Yeah I hear ya. I’ve yet to do one but I think they like it because they combine it with some annuity of some sort that can be used to pay your deductible I believe. Don’t quote me on it.

 

[LostDollar]

As an agent if I run into some nut case that wants a high deductible F I am going to cut and run fast. In fact I can't run away fast enough or hard enough. I don't care if I can make money off them or not their money is no good here. I don't need their grief and I can afford not to have to and that is what makes being in business for yourself so great.

That's about what you'd expect from a guy that doesn't believe in Santa Claus.

I hate to have to say this, but if you listen to Rick, you may grow up to be a good insurance agent.

 

[DS4]

I'd go broke if I only wrote HDF.

Don't forget about the potential Part D Sale!
Also, HD F clients will never leave you. What product can they move to that is less money??

 

[LostDollar]

Don't forget about the potential Part D Sale!
Also, HD F clients will never leave you. What product can they move to that is less money??

Your HDF complaint story was "the best".

 

[somarco]

they like it because they combine it with some annuity of some sort that can be used to pay your deductible

Seems like the annuity pays $0 commission. Could be wrong though.

 

[goillini52]

Seems like the annuity pays $0 commission. Could be wrong though.

Probably true. Torchmark's always been about profit.