Health Reform and Med Supps

[Success]

This could have been posted in the Health Insurance Reform Forum, but my questions relate to mostly Med Supps.

I have been watching and reading about the Health Reform. It is very confusing, and I do not have enough time to research and learn the whole mess.

Can someone tell me what they think will happen to Med Supp producers and the Med Supp market in general?

I just started selling Med Supps and want to have at least a semi-secure future (that is about all that could be aspired).

The more you could explain, the better...

 

[Yoda]

Re: Health Reform???

This could have been posted in the Health Insurance Reform Forum, but my questions relate to mostly Med Supps.

I have been watching and reading about the Health Reform. It is very confusing, and I do not have enough time to research and learn the whole mess.

Can someone tell me what they think will happen to Med Supp producers and the Med Supp market in general?

I just started selling Med Supps and want to have at least a semi-secure future (that is about all that could be aspired).

The more you could explain, the better...

Nobody knows for sure at this point. That being said it looks like med supps are going to around for years and years to come. The new Health Care Reform bill looks like it is going to kill the Medicare Advantage and that is the best news we have had in years. One of the biggest fears med supp agents need to worry about is the insurance companies trying to cut the agents out of the picture. And believe me if the insurance companies can they will. Theres alot of talk in that health care reform about creating "insurance exchanges" that makes me a tad bit nervous. If the public could be trained by the insurance companies to go to the internet to shop for their health insurance when they are underage then it would be that much easier to get them to go to the internet and shop for med supps when they become of medicare age. Of course at this point its all speculation but those exchanges they are talking about could end up steering people to buy insurance off the net. Who knows yet.

 

[GreenSky]

Re: Health Reform???

Yoda - Using a large, bold font doesn't make you smarter, just more (if possible) annoying.

Rick

 

[captain94]

Re: Health Reform???

I wonder about the "Cant be denied coverage for pre-existing conditions" Clause. Will that make Med-supps G.I. and fully underwritten to determine rates?

 

[insurance0707]

Re: Health Reform???

I was wondering about that myself. I kind of hope they make med supps GI, but I can see that might raise premiums also

 

[captain94]

Re: Health Reform???

I was wondering about that myself. I kind of hope they make med supps GI, but I can see that might raise premiums also

Unless they keep a preferred rate and universal rate and the unhealthy seniors get the universal rate. Like what AAPR does.

 

[Yoda]

Re: Health Reform???

I wander about the "Cant be denied coverage for pre-existing conditions" Clause. Will that make Med-supps G.I. and fully underwritten to determine rates?

You got to consider the different ways you can play with the wording. Are they saying you cant be denied coverage once you have the policy if they find out you had preexisting conditions or are they saying you cant be denied getting insurance if you had pre existing conditions. At this point its all a little murky.

 

[captain94]

Re: Health Reform???

You got to consider the different ways you can play with the wording. Are they saying you cant be denied coverage once you have the policy if they find out you had preexisting coverage or are they saying you cant be denied getting insurance if you had pre existing conditions. At this point its all a little murky.

I think its they cant be denied coverage but who knows what it will be after all the attorneys read the bill and look for loop holes.

Back to his original question I dont see med-supps going anyware. Nothing pays 100% of all your medical bills so "Gap" coverage will be needed.
I see Medicares deductibles and co-pays going up not down. that has been the norm since it was created and as the "Baby Boomers" hit and Medicare runs low on funding they will find everyway they can to cut the cost, Part B premiums will go up and out of pocket costs will to.

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[Success]

Re: Health Reform???

That is what I thought... Medicare will keep cutting costs, and the supplements will need to stay around to pay the difference. Hopefully the premiums don't become so high that people can't afford them.

 

[MedSuppPro]

Re: Health Reform???

Hopefully the premiums don't become so high that people can't afford them.

Frank has trained you well...

With over 10 million seniors on MA plans, we will see CHANGE they will hate. This fall we will see major disenrollments.

At least Half will not be able to purchase a MedSupp. Five million seniors will become under-insured. 5 million will say: "Screw it -- I'll go with Medicare only".

5 million seniors will become under-insured!

5 million seniors will be screwed by Clunker Care!