Spud
Expert
- 93
Hi, comments please from brokers doing med sup business in States which moved from issue to community rating on new policies AND offering existing Med Sup policy holders a GI to switch plans annually.
Question on my mind include:
1. Hardly any company pays a commission on GI business anymore; did this change when the State law was updated to include an annual GI right to change plans?
2. Did companies offering Med sup plans send out amendments to the brokers contract; if so, what areas were updated? Did commission rates change?
3. Issue age to community rated and adding the GI language suggests a noticeable boost in monthly premiums for Med Sup plans for those new to Medicare (65 - 75 or so age range);
4. Blue Cross of Idaho appears to be behind this legislation; they have 5% Med sup market share in Idaho; did the market share of Blue Cross in other states which offer GI boost their market share after this change was made (over the next 2 or so years)?
Question on my mind include:
1. Hardly any company pays a commission on GI business anymore; did this change when the State law was updated to include an annual GI right to change plans?
2. Did companies offering Med sup plans send out amendments to the brokers contract; if so, what areas were updated? Did commission rates change?
3. Issue age to community rated and adding the GI language suggests a noticeable boost in monthly premiums for Med Sup plans for those new to Medicare (65 - 75 or so age range);
4. Blue Cross of Idaho appears to be behind this legislation; they have 5% Med sup market share in Idaho; did the market share of Blue Cross in other states which offer GI boost their market share after this change was made (over the next 2 or so years)?
