High Deductible plans F and G

[goillini52]

No harm? How many great veteran agents left the forum because of him?

Sure, 6 months ago. But good enough example to be repeated to build a case for G, and for all the newer agents that actually produce.

I'll admit that at times, LD would be like a dog with a bone sometimes and wouldn't let go. This was pointed out to him and he's gotten better about it. He does come up with some good thoughts and some of the conversations he starts can be insightful.

The veteran agents have come back to the Forum(except for *ick) and some are even conversating with him.

 

[vic120]

I'll admit that at times, LD would be like a dog with a bone sometimes and wouldn't let go. This was pointed out to him and he's gotten better about it. He does come up with some good thoughts and some of the conversations he starts can be insightful.

The veteran agents have come back to the Forum(except for *ick) and some are even conversating with him.

I would agree with this 100%

 

[Bevo]

I'll end on this last note: We all know Plan G and N are the way to go. They were even before the news of Plan F leaving came out.

So.....shut up and sell. Build your book like never before and dont sweat the small stuff, which believe me this ALL is. Constant speculation is bubblegum for the mind and can cost you revenue which matters most. Because none of us would do this for free.

 

[Travis Price]

When the G plan replaces F as the "go to" plan for GI we will see higher rate increases. GI impacts loss ratio's (which drive premiums) more than anything else.

It will take a few years before GI poisons the G well like it has the F plan well.

Another reason why F rates are so high is because the carriers can get away with it. This is especially true for carriers like UHC, MOO and BX. They write a lot of business direct, especially UHC and BX.

T65 calls the carrier (or AARP) and asks for advice. "We have a plan with $0 OOP and the premium is only $X. How does that sound?"

SIGN ME UP.

Once F is no longer an option UHC and BX will continue to get the majority of their business direct. They don't need agents but they tolerate them.

First thing, I'm quoting Bob's post for emphasis, not for direct comment.

Bx here hire their own agents. I can contract with them, but screw them and UHC. Here, UHC is never competitive and Bx is only competitive for 1 year.

Concerning G, this is only logical. It's why I say Plan G isn't always the best fit. I'll totally offer Plan N here because we'll over 90% of the doctors and hospitals here accept assignment. I did a YouTube video for one of my articles going through the Provider finder tool and before I searched I spent a good 20 minutes trying to find a provider that doesn't accept assignment.

Just throwing this out there, excess charges are only for Part B. So, when you go to the doctor that doesn't accept assignment, you might spend $35 instead of $20.. unless you're going 2-3x a month.. it may not be a big issue.

Plan N won't be GI, which means you either jump on in initial, which is unlikely as most people shove F or G, or you do underwriting and pass. Lower claims + healther risk pool= lower premiums and increases.

 

[Midlevel]

Interested in thoughts on how much the Part B deductible will go up once the Government gets everyone on a G Plan like they want. I don't think even they are dumb enough to think that paying $185.00 one time a year is going to keep anyone from using their insurance. Maybe $500, $750 or $1000 may get people thinking though?

 

[vic120]

Interested in thoughts on how much the Part B deductible will go up once the Government gets everyone on a G Plan like they want. I don't think even they are dumb enough to think that paying $185.00 one time a year is going to keep anyone from using their insurance. Maybe $500, $750 or $1000 may get people thinking though?

I've thought about that and I believe this might happen

However, we also know the plan F premium will compensate

Also if it does we may find a new push to MA

If it gets as bad as $1000 deductible I am sure MA will not be as good either

 

[LostDollar]

Sure, they don't want to get sued. I get it and would do the same on that level. I'm more addressing where this information is coming from, not how agents are reacting to it.

Had I not witnessed first hand a compliance officer of a top carrier/organization and her/their very clear agenda 4 years ago on this I wouldn't have this opinion. They are far less worried about agents saying the wrong thing than they are losing their most beloved treasure. The almighty dollar. It's a spin with an alleged noble cause, as they all are. "Protect the consumer, we love the consumer." It's working hook, line, and sinker.

Bonus: One might consider...which carrier likely has the most Plan F policy holders in force with the most to lose?

I suspect that I do not fully understand or appreciate the level of courtesy and patience which you extended me in making this post. Thank you for taking the time to do it.

It clarifies that if one wants to understand the business side of the Medicare supplement business that IMO and carrier actions and purposes have to be considered too.

Your post also presents me with a bit of a challenge. Rousemark fussed me out awhile back for imputing underlying purpose of action to someone. So now, in addition to wading through the minefield of NAIC, State Insurance Depts, IMO's, Carriers and agents/business owners for a large variety of business sizes, I have to consider bevo vs rousemark on how to evaluate stated vs imputed reasons for expressed opinions or statements.

Almost makes me want to go sell an HDF plan! It would probably be easier.

 

[Chazm]

I've thought about that and I believe this might happen

However, we also know the plan F premium will compensate

Also if it does we may find a new push to MA

If it gets as bad as $1000 deductible I am sure MA will not be as good either

I’ve been hearing for years that MA plans are supposed to get worse. Still waitin...

 

[vic120]

I’ve been hearing for years that MA plans are supposed to get worse. Still waitin...

I don't think that would happen unless the part B deductible had big increases

However, if it does it would affect everything

Def not saying this would happen as in midlevel's post

Just saying it is a possibility (not saying Huge possibility) If it does then the result will follow

I am def hoping it does not happen Because if it does I do believe it would affect more then just medicare

 

[Travis Price]

Personally, and it's just me...

There are things that are and are not within your control. CMS is 100% outside of your control.

Worry about what you can do now, and prepare for what could be in the future, but don't worry about what-ifs.