HD Plan F for G?

[springbokhouston]

A few Med Supp carriers are moving towards higher comps for Plan N which will negate the agent's bias for selling one over the other. Do what's right for the client, sometimes that extra $20 monthly discount is perfect for someone that's on the verge of losing their supp due to premium. Also be clued up on MAPD and how to cover the gaps using HIP plans as a fall back option. Present, educate and let the client decide which way they want to go.

 

[Chazm]

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".

They won’t even pay $20. Most pay about $14 a visit. Outpatient therapy is $0 so in FL it’ll take someone about 24 Office visits in a year to not be better off with N.

On top of that, UHC allows members to switch to any plan, no health questions asked and they keep their age band.

N is one of my fav plans for my clients, if it’s explained correctly.
I put one lady on a hdf, made sure I explained it as best as I could. In the end she called me and said she was tired of paying $30 here, $80 there. She wanted a simple plan. Pay a premium like her friends and never worry about anything else.

 

[LostDollar]

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 wonder if F may not hang on longer as a viable option in FL than in other states.

 

[Chazm]

A few Med Supp carriers are moving towards higher comps for Plan N which will negate the agent's bias for selling one over the other. Do what's right for the client, sometimes that extra $20 monthly discount is perfect for someone that's on the verge of losing their supp due to premium. Also be clued up on MAPD and how to cover the gaps using HIP plans as a fall back option. Present, educate and let the client decide which way they want to go.

And it FL it’s a $55 month discount. More for people over 65

 

[Chazm]

I wonder if F may not hang on longer as a viable option in FL than in other states.

I’m not sure what you mean. In other states plan F hasn’t been a good option for a while. Until 5 months ago, a plan G cost you almost as much as a F here in FL. So not many have it.
The only better priced G now is Humana. And we have zero idea what their rate history is here.

I’ve still done a few F’s here this year but I now explain the death spiral possibility and how G and N work. Most don’t choose F.

 

[springbokhouston]

I wonder if F may not hang on longer as a viable option in FL than in other states.

F will not be a viable option to anyone entering Medicare after 2020. In most cases I find Plan G to be a no-brainer over Plan F, outside of Florida of course. It seems that UHC has figured out how to perfectly position the pricing for the time being in the Sunshine State.

 

[springbokhouston]

They won’t even pay $20. Most pay about $14 a visit. Outpatient therapy is $0 so in FL it’ll take someone about 24 Office visits in a year to not be better off with N..

Good point Chazm. Plan N charges "Up To $20" for an office visit.

 

[LostDollar]

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".

When I was selling books door to door, or trying to, I prejudged what my customers could afford to buy from me before I even left Nashville. I did not have the confidence to do differently but That was a stupid thing to do.

I have been reading posts here since Oct 2016. Maybe I have the wrong message, but the message I think I have from successful Medigap agents is that were I to sell medigap, I need to have a basic understanding of Plans F, G, N and HDF (and the future HDG). I then need to understand the psychology of Medigap supplement buyers and learn how to relate the characteristics of the different kinds of buyers to the different plan types. If I try to inflict my personal buying bias on another person's buying process, I am likely to fail miserably. ie just because I would not buy a plan N does not mean I should not learn how to explain it properly and give someone else a chance to buy it if they wish to do so.

 

[LostDollar]

I’m not sure what you mean. In other states plan F hasn’t been a good option for a while. Until 5 months ago, a plan G cost you almost as much as a F here in FL. So not many have it.
The only better priced G now is Humana. And we have zero idea what their rate history is here.

I’ve still done a few F’s here this year but I now explain the death spiral possibility and how G and N work. Most don’t choose F.

Ok, I'm probably not paying good enough attention. I thought your Plan F sales were heavier than that.

 

[Chazm]

Ok, I'm probably not paying good enough attention. I thought your Plan F sales were heavier than that.

Oh they used to be. It was only F and N prior to January. But this year G has come on nicely. I’ve only sold N and G in other states though.