Humana PFFS/PDP Recertification

[GreenSky]

Received an email from my Humana FMO (yes, he will release) with instructions on how to recertify for the rest of 2007 and all of 2008. No big deal, took about 40 minutes including reading all the material.

Humana is opening the recertification up from 7/5 to 7/26. I would wonder why the cutoff is 7/26. Are we going to be back in business 8/1?

Also, heard a rumor that CMS is considering eliminating the use of independent agents for this product.

Rick

 

[senior-advisor-indiana]

That would piss alot of people off. I need a Humana contract for their PDP.

 

[policy doctor]

re; CMS rumor

They really don't need the indy agents as in the past. When they rolled out this program massively2005/2006 they knew many Med Supp agents would roll over a high % of their existing client base plus anyone else they could find. uninsurables,poor. In addition those agencies operating under a captive status recruited many newbies lured by a chance to earn a good income and they telemarketed the seniors to death.

Simultaneously, there was a big media blitz including TV ads to call those 1-800 numbers and enroll on the phone, or online. (so the house was competing against us). Now you know all those sales results were tracked by category and we don't know the % of each, but I bet those phone-ins and online enrollments showed some decent results.

On this forum we have agents bragging about how they never see the client....they enroll them online. So a simple product like an MA, or even Med Supp...can be marketed and sold without us. Heck, AARP has proven that the last 20 years. Now AARP is going to have a 2-yr Advantage program (see my post in News HOund) enrolling WITHOUT agents. Do you think that the MA co's are foreseeing that agents will rollover/replace one company to another to start that first year commission again? Those renewals do stink. Best way to stop that is to accept a replacement at renewal commission only, or halt sales by indy agents.

Final Expense is being marketed the same way...at 50% commission. Other life products, auto & home...same thing. We all better smell the coffee...This chipping away at market share is taking it's toll....and just because you found some troll in a trailer who was excited 'cause you came by to sell him...their numbers are dwindling too unless you speak a foreign language, or 2, or 3 LOLOL

 

[senior-advisor-indiana]

Thats rediculous. Seniors need agents to explain every little detail. YOu think the med supp companies can just advertise to get people to switch for $10 a month? NO! You think a senior is gonna drop full coverage to go to a free plan without someone besides TV convincing themn? Hell no. There will always be agents in the senior market.

You need to find a new up line if you are only getting 50% on final expense plans. I haven't seen commish that low since I was captive with senior solutions.

 

[GreenSky]

This is simply a guess on my part but I would think that more captive agents abused the PFFS marketing than independent agents.

Newbies starting off captive have little to lose. I have been licensed for 31 years by explaining the entire picture.

How many agents here that wrote PFFS actually called the physician first to see if they were deemed? I did or made sure the carrier did and had before the enrollment. If everyone was as conscientious, we might not be in this mess.

Okay, I'm jumping down off my pedestal now.

Rick

 

[policy doctor]

Au contraire, Pierre

As the education level goes up, people are able to do their own research and analyse for themselves.

Med Supps are not complicated. Med Advantage even less. Your basic understanding starts with Medicare: what it is, what it covers, and what it does not. The rest is like a glove covering a hand.

The younger seniors as a group are more sophisticated than their older (mid 70's and up)counterparts. They experienced Medicare thru their circle of family and friends. All they know is that there is very little left for them to pay out of pocket if they have a good plan.

So what are you telling them in person that you can't explain over the phone? All you need is for them to be on the same page with you. I give them a choice...face to face or phone. Both methods work.

Re final expense. I'm getting 102% on Fe...what made you think i'm getting 50%???? Reread that again....there is marketing of FE on the phone by an agency that only pays 50% to their agents. I am not with them, just aware of who and what they do.

 

[policy doctor]

Greensky

I agree with that comment about captive agents. We had a few come on these boards and display their ignorance. It's even worse if you talk with them personally.

There is a big difference between Insurance Agent and Salesman.
The agent wants to hold his clients captive and looks out for their future welfare, hoping to grow his business with them.
The salesman is interested in making money....one time transactions are fine.

Just a philosophy

 

[senior-advisor-indiana]

Oh sorry I thought you were implying that you were making 50%. How do you figure that med supps are more complicated than MA's? Med supps are very simple.
Rick, I made sure I called the physicians also. I too believe it would be captive agents abusing the plans more because thats all they have to sell. You definetly are a product pusher when you are captive.

 

[policy doctor]

Where did I say that med supps are complicated? this conversation is getting complicated.

I called a few dr offices, but told my clients to verify with their dr office first about MA participation before they enrolled with me. I'm in a big metro area and not about to call multiple offices.

 

[senior-advisor-indiana]

Med Supps are not complicated. Med Advantage even less.

That means that MA's are less complicated than med supps. Doesn't it??