Hospital Indemnity Plans - really a good add-on for MAPD?

[PCBI]

That's what I was thinking. Some on here still say you need it, but I couldn't understand why.

The only logical reason is to hedge against the possibility that the $0 co-pay inpatient MAPD Plans change in the future and the client can't get a hospital indemnity plan then.

lol
if u think signing upna client on a zero premium plan is gonna stay that way ur blinded by short term paralysis

HIP policies cost 28-35.00 a month and include NH

this zero premium plan is gonna change u better b prepared

 

[PCBI]

Move over Todd. I'll handle this.

Why in hell would anyone need a hospital indemnity plan when there is no hospital cost to offset? Let me give you 3 reasons:

1) The agent wants to make another commission,
2) The client is an *** and wants to profit on a hospital stay,
3) The agent wants to make another commission.

Rick

bc that 0 copay plan wont stay that way look at all the other states

more and more out of pocket costs for seniors every year

its called free so u will b payn for it sooner ir later

reality

 

[Todd King]

Move over Todd. I'll handle this.

Why in hell would anyone need a hospital indemnity plan when there is no hospital cost to offset? Let me give you 3 reasons:

1) The agent wants to make another commission,
2) The client is an *** and wants to profit on a hospital stay,
3) The agent wants to make another commission.

Rick

Thank you for standing in! LOL

The next question here then is a matter of ethics....or is it? If the client does want one so that they can possibly profit from it, do you go ahead and sell it to them?

YES YOU DO! (as long as you have explained why they really don't need it).

 

[Tim Resnick]

Thank you for standing in! LOL

The next question here then is a matter of ethics....or is it? If the client does want one so that they can possibly profit from it, do you go ahead and sell it to them?

YES YOU DO! (as long as you have explained why they really don't need it).

Do you tell them upfront?

'Hey ms.jones, you actually make money when you go into the hospital...kinda like a 5 day get-away for you. Pick your hospital NOW and avoid the rush!' (sign here and make the check payable to xyz insurance). We'll get it submitted right away!'

 

[Tim Resnick]

Sell them a HMA account that they can use for any medical expense instead.

Hi B,...what is HMA account?

Health Maintenance ?

 

[Todd King]

Do you tell them upfront?

'Hey ms.jones, you actually make money when you go into the hospital...kinda like a 5 day get-away for you. Pick your hospital NOW and avoid the rush!' (sign here and make the check payable to xyz insurance). We'll get it submitted right away!'

I very much believe in my client's Insurance education. After I educate them, and they still want to go against my advice.....no problem!

 

[Derek Streich]

SureBridge just launched a new hip plan (HospitalWise). Issued up to age 90, good rates, great uw process, and strong compensation.

 

[joe92275]

There are 2 major holes in MA plans: hospitalization and chemo treatment. There are some areas of the country with $0.00 hospital copay plans, but they are not the norm. It’s prudent to suggest a plan to help a MA buyer with their out of pocket risk. Either event can cause great financial strain on the member. Best to present and let them decide. Most opt to buy one.

 

[Northeast Agent]

Great news for our California agents!

LifeSecure is releasing their newly upgraded Hospital Recovery 3.0 plan in CA tomorrow, February 25th!

LifeSecure's updated Hospital Recovery 3.0 plan includes:

• Up to a $900 daily benefit
• Guaranteed renewable for life
• Unique guaranteed issue clause allowing clients from age 64 1/2 to 65 a guaranteed issue enrollment into the plan with no cap on daily benefit amounts
• Up to a 35 day coverage for a hospital stay at the given daily benefit rate your client chooses
• Riders included in this plan include:
  • Emergency Room and Ambulance Rider
  • Major Diagnostic Exam Rider
  • Rehabilitation Facility Rider

 

[vic120]

I don't know about these when I started the FMO I started with was very high on these, I sold a few GTL in the beginning but I don't think too many made any claims or if they did I don't know that they filed

They are not cheap either minimum rate I think was around $45 some as much as $70 without really any maybe one or 2 riders And more for those over 70 years old

This makes me wonder do the rates go up and people cancel many times before its use

And then I believe the rates went up and I stopped selling them, I find a plan N was not much more and covered more no need to do extra filing or anything besides the extra freedom and such not sure why someone would want to do MA plus expensive indemnity

Now if it were good at $40 or $45 with the right riders I would feel different about it

Could be I mentally took myself out of something worthwhile but I don't see it

I do have people happy with the Home healthcare with Drug reimbursement but they stop[ped selling those that plan was nice