HD Plan F for G?

[TampaHound]

I was running some numbers today for Florida, and was wondering if a Plan F HD might make more sense in some cases than a plan G.

For the sake of argument I am using a 65 year old non smoking male in zip code 33542 (Florida).

A Plan F is $201 (or $2412 annually)

A Plan G is $173 (or $2076 annually)

The HD Plan F is $67 (or $804 annually)

You do the math and that's a savings of $1,608 vs $336. Frankly the math makes sense to me. This savings could be used to pay for the Dental/Vision/Hearing policy that I'm going to cross sell...er, recommend...for the client next. Assuming they stay healthy for two years and don't spend that savings on hookers and blow, they now have a bit of a next egg build up.

However I'm looking for the emotional sale here. Plus honestly, I'm not sure if the value is really there or not. Remember that the deductible for a HD plan F is $2240. Yes, I know that Medicare still pays 80% while they cover that deductible.

So...is the plan worth it? Will the cost go through the roof in the future cause no body is buying into it? Inquiring minds wanna know!

 

[jemelton]

High F could be the best value in a lot of cases...but agents cant make a living off 20% of $360 per year. Also, many seniors like predictable costs. The fear of the unknown deductible is scary to some.

 

[springbokhouston]

Nothing wrong with HDF if the client is fully aware of what they are getting for their money. I have a hunch that it probably turns out to be the best value over the long term for a Healthy Medicare beneficiary. I probably wouldn't suggest it to anyone that has any income anxiety or is less than healthy coming into a supplement.

Great post mate.

 

[Chazm]

I was running some numbers today for Florida, and was wondering if a Plan F HD might make more sense in some cases than a plan G.

For the sake of argument I am using a 65 year old non smoking male in zip code 33542 (Florida).

A Plan F is $201 (or $2412 annually)

A Plan G is $173 (or $2076 annually)

The HD Plan F is $67 (or $804 annually)

You do the math and that's a savings of $1,608 vs $336. Frankly the math makes sense to me. This savings could be used to pay for the Dental/Vision/Hearing policy that I'm going to cross sell...er, recommend...for the client next. Assuming they stay healthy for two years and don't spend that savings on hookers and blow, they now have a bit of a next egg build up.

However I'm looking for the emotional sale here. Plus honestly, I'm not sure if the value is really there or not. Remember that the deductible for a HD plan F is $2240. Yes, I know that Medicare still pays 80% while they cover that deductible.

So...is the plan worth it? Will the cost go through the roof in the future cause no body is buying into it? Inquiring minds wanna know!

33542 male ns plan F is $193.22. Plan N $138. HDF is $52

You need some better companies

And in about a year they’ll talk to a friend who has a plan F, G or N and wonder why they’re not on that one. It’s a very rare day when I see someone in FL on a HDF.

 

[somarco]

Make more sense to who?

You, or your client?

I really don't understand agents who make decisions about what is or isn't best for their client. I NEVER presume what is best for the client, nor do I make assumptions on what they can or cannot afford.

Must be a lot of timid agents out there afraid to show the product(s) based on what the client wants and then help them decide.

Clients don't make decisions based on logic. Their choices are based on emotion.

If decisions such as these were all based on logic no one would ever buy F or G. They would buy N or HDF. You could throw away your rate sheet for anything other than those two plans, because any LOGICAL person would only buy N or HDF.

 

[TampaHound]

Make more sense to who?

You, or your client?

I really don't understand who make decisions about what is or isn't best for their client. I NEVER presume what is best for the client, nor do I make assumptions on what they can or cannot afford.

Must be a lot of timid agents out there afraid to show the product(s) based on what the client wants and then help them decide.

Clients don't make decisions based on logic. Their choices are based on emotion.

If decisions such as these were all based on logic no one would ever buy F or G. They would buy N or HDF. You could throw away your rate sheet for anything other than those two plans, because any LOGICAL person would only buy N or HDF.

I always try to do right for the client. I'm paid the same if it's a F, G, Q, Z or DD which is the nice thing about my job. However I understand what your trying to say.

The problem that I have with an N is the excess charges (although that is generally not a problem) and the $20 copay. The client gets sick. 1 time not that big of a deal. 2 times? 3? Now that policy is costing them money. The "G" makes a little more sense than the "N".

 

[TampaHound]

33542 male ns plan F is $193.22. Plan N $138. HDF is $52

You need some better companies

And in about a year they’ll talk to a friend who has a plan F, G or N and wonder why they’re not on that one. It’s a very rare day when I see someone in FL on a HDF.

I was using Humana rates for no particular reason. But the "My friends all have X" argument is tough to overcome.

 

[springbokhouston]

I was using Humana rates for no particular reason. But the "My friends all have X" argument is tough to overcome.

"my friends all drive porsches i must make amends"

 

[Chazm]

I was using Humana rates for no particular reason. But the "My friends all have X" argument is tough to overcome.

UHC is best for F. Humana for G. UA for hdf

 

[somarco]

The problem that I have with an N is the excess charges (although that is generally not a problem) and the $20 copay. The client gets sick. 1 time not that big of a deal. 2 times? 3? Now that policy is costing them money. The "G" makes a little more sense than the "N".

There are agents on this forum with clients who have had N for a number of years and never encountered xs charges.

Sounds to me like you are trying to justify avoiding presenting N.

This is not about what you earn on one plan over another. This is about explaining options, asking questions, and finding out what the client wants and needs.

Then showing him or her how to enroll in that plan.

Yes, it really is that simple.