Hi Deductible Plan F vs Plan F, or other Med Supps

[somarco]

I think about this every year when I the recertifications

Isn't it wonderful to offer "free" Medicare plans that cover everything?

 

[vic120]

Isn't it wonderful to offer "free" Medicare plans that cover everything?

I breeze through it every year, although I lean heavy Medsupp, I do make a good amount from MA and PDP. Just have to laugh how the govt makes all these rules for agents (who are lic and trained) but let everyone else break the rules (who have little to no knowledge or training)

 

[junkman]

It has been YEARD since my family premium has been much under $12,000/yr or the OOP has been under $6,000.

A med sup would be welcomed.

Only those of my acquaintances without money opt for an Advantage plan. Some others are paying the up charge to providers for better access. We are in the early stages where we have a obviously multi-tiered healthcare system. It's been multi-tiered for awhile but it is now affecting the middle class.

 

[LostDollar]

Interesting comments. A lot of agents don't like the idea of him having to pay the claims for the High Deductible F, when the worst case scenario, his annual cost would be less than his current Plan F premium, so he would not be worse off, and may even save a lot of money. He does have a bias towards his current company, so it may be difficult to try and switch him to a Plan N and cut his premium in half. If the agents on the forum don't think he would be comfortable with a High deductible Plan F, I doubt that most would recommend an MAPD to their prospects, since the MOOP is almost always $5,000-6,700 annually.

What need does this person have to save an additional $1200 per year by taking an HDF at the price of noticeably more inconvenience in personal processing of medical paperwork? And possibly getting stuck with that paperwork for the rest of his life?

Well people are healthy until they are not. IMO your client is getting to the age where the unexpected can be expected.

 

[GreenSky]

What need does this person have to save an additional $1200 per year by taking an HDF at the price of noticeably more inconvenience in personal processing of medical paperwork? And possibly getting stuck with that paperwork for the rest of his life?

Well people are healthy until they are not. IMO your client is getting to the age where the unexpected can be expected.

Thanks for your opinion. Glad to see you’re still here educating insurance agents.

Of course, you’re wrong but that’s not unusual.

Rick

 

[DS4]

I recently had someone on HD F cancel their policy. They were paying $47/mo. Apparently, several months ago, they were in the hospital for 3 days, had surgery, etc. They never made it to their $2240 deductible. They called me irate that their med supp didn't pay anything! They told me they were going to cancel the policy! I gave them the 800# to call and cancel. I'm sure going to miss that $4.70 renewal commission each month.

 

[LostDollar]

I recently had someone on HD F cancel their policy. They were paying $47/mo. Apparently, several months ago, they were in the hospital for 3 days, had surgery, etc. They never made it to their $2240 deductible. They called me irate that their med supp didn't pay anything! They told me they were going to cancel the policy! I gave them the 800# to call and cancel. I'm sure going to miss that $4.70 renewal commission each month.

2 years ago I would have been unable to appreciate the perspective behind this post. Today I appreciate you having taken the time to make it.

 

[LostDollar]

Thanks for your opinion. Glad to see you’re still here educating insurance agents.

Of course, you’re wrong but that’s not unusual.

Rick

I speak, or query, from experience as a holder of the plan type in question and as a member of the senior age group whose Nevada residents you will be working to protect.

 

[DS4]

Most all Med Supp clients on HD F, and, most agents, don't realize that it will take a big claim to hit the $2240 mark.

 

[LostDollar]

Most all Med Supp clients on HD F, and, most agents, don't realize that it will take a big claim to hit the $2240 mark.

I wasn't sure how that was going to work, but I think I was pleasantly surprised last year. I think Medicare must negotiate a pretty significant charge reduction.

If I could find the post Rick made about HDF claims and lay out all my eobs, I think even with two surgeries last year, that I came in pretty close to a "reasonable" claims number that he predicts for the plan. But I also think I may be reconsidering the length of time I originally planned to keep the plan.