It Does Not Look Good for Agents Selling Medicare Supplements.

[captain94]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

I may be reading this wrong, but it says that Medigap policies are "sold" by private insurance companies. It fills in the gap of the health insurance provided by the government, thus the name Medigap. One cannot have a Medigap policy UNLESS they have A and B, but they can have A and B without a Medigap. So am I to believe this is Health insurance or a supplemental insurance to fill the gap for A and B? Just asking.

That is the reel question, From what I was told (From My FMO) Medsupps are "Private Health Plans"
but are not Health Insurance Plans they are supplemental like a cancer plan or a critical Illness plan and thus are NOT affected by the 85% law. Reading the bill it names Medicare as well as Medicaid and Medicare advantage specifically but not Medsupps at all.
There for I think Frank is right and we will be fine.
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[Jack C...]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

That is the reel question, From what I was told (From My FMO) Medsupps are "Private Health Plans"
but are not Health Insurance Plans they are supplemental like a cancer plan or a critical Illness plan and thus are NOT affected by the 85% law. Reading the bill it names Medicare as well as Medicaid and Medicare advantage specifically but not Medsupps at all.
There for I think Frank is right and we will be fine.
</IMG>

Yesterday, I called your State Board of Insurance, I was again told medicare supplement insurance has to follow the new law.just passed, confirming what I have been telling all of you for the last week.( Med Sups will be GI and 80% of premiums have to be paid back to medical services)

All of you who sell medicare Supplement Insurance, please call your DOI now. and stop taking the advice of someone in your up line..

Call your State DOI now.

 

[azmedsupagent]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

I may be reading this wrong, but it says that Medigap policies are "sold" by private insurance companies. It fills in the gap of the health insurance provided by the government, thus the name Medigap. One cannot have a Medigap policy UNLESS they have A and B, but they can have A and B without a Medigap. So am I to believe this is Health insurance or a supplemental insurance to fill the gap for A and B? Just asking.

Its a "supplemental insurance" which is the reason this entire thread is pointless. The healthcare bill does not mention secondary, optional supplemental insurances. Medicare A and B is already garuntee issue. I have checked with the legal dept one of the largest GAs in Arizona who confirmed both the negative effect on comissions the 85% loss ratio will have on IFP and Group after jan and also confirmed that medicare supplements are not effected by this legislation. I have very reliable sources that I have known for years on a personal level. So Please do get out the med supp market! Ill stick around and rake in the dough. You guys all probably think the world is going to end in 2012 don't you... Group think is sometimes dangerous.

 

[Crabcake Johnny]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

Med Supps will not be affected by the legislation.

 

[Russ]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

Med Supps will not be affected by the legislation.

If that is true, then that is fantastic news.

 

[Crabcake Johnny]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

It's true and don't bother calling the DOI - they're clueless.

 

[Yoda]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

It's true and don't bother calling the DOI - they're clueless.

Thats a fact. People at the DOI get their job by knowing the right people not by knowing what they are talking about. Calling the DOI and asking a question like this is ridiculous! Frankly speaking, employees at the DOI will spend much more time contemplating about whether they are eating at the Olive Garden or Ruby Tuesdays tonight then they will spend learning the ramifications the Health Care reform bill will have on agents commissions..

 

[captain94]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

Yesterday, I called your State Board of Insurance, I was again told medicare supplement insurance has to follow the new law.just passed, confirming what I have been telling all of you for the last week.( Med Sups will be GI and 80% of premiums have to be paid back to medical services)

Why are you calling my state board if you are in Alabama? Just a question. Anyway I would not put much into what they say, they told me I can License a S corp wich I cant it has to be a LLC.

Maybe the bill will include it maybe it wont( I dont think it does) I will not run now, I still will write business and wait and see what happens and adjust from there. I cant do anything about it anyway so sitting on the phone with the DOI just to find out they know less than I do is a huge waste of time.

 

[Crabcake Johnny]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

The DOI doesn't know any more about the legislation than my 8 year old son.

 

[moonlightandmargaritas]

Re: It Does Not Look Good for Agents Selling Medicare Supplements

The DOI doesn't know any more about the legislation than my 8 year old son.

And probably a good deal less!