MA Gap Plans

Discussion in 'Senior Insurance Forum' started by midwestbroker, Sep 16, 2006.

  1. midwestbroker
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    midwestbroker Guru

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    I have some info from info from an carrier about gap plans for MA plans.

    They cover the hospital co-pays that MA plans have.

    They also feature riders:
    A lump sum for hospital confinement
    Skilled Nursing
    Durable Medical Equiptment
    Ambulance

    From what I figure, if you added this with a $195 benefit per hospital stay (will cover up to 10 days) would add $20.52 per month.

    Seems worth it to me.

    Any thoughts?
     
  2. Guest
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    Guest Guest

    Guarantee Trust Life?
     
  3. midwestbroker
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    midwestbroker Guru

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    Yep that is them.

    I have never heard of them before.

    AM Best has them as B+ rated with a negative outlook. Have you done anything with them?
     
  4. Guest
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    I wrote lots of Medigap business with them in DE and MD from 2001-2004 and I have been pretty pleased with them. Normal rate increases, Excellent service for agents and insured, Financially good--not aware of the negative outlook you speak of. Still, I'm not sold on theses MA gap plans yet. I think it's a little overkill, although that may be because I am from the school of thought that says consumers should assume some of the risk for their health.
     
  5. James
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    That is the idea of the Co Pays, while no or little premium the copays can easily add up to a greater amount then the cost of a Supplement. I like the idea basically, don't know about the amount the Federal Government gives to the Carriers, at 7,500 to 8,000 grand a year, yet I guess that is the average cost of the Federal Government per Medicare Enrollee.
     
  6. Guest
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    I suppose if you're selling zero premium MA plans they would be useful.
     
  7. midwestbroker
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    I agree wtih you in the fact that people should assume some of their health costs.

    However, if they are going to buy on of these plans I would rather it be from me. Not only for the comm stand point, but I could fully explain how the plans would tie together, and make sure that is what they want. A lot of folks are used to the plan F; they pay one premium and forget about the rest.

    I am looking to have it in my back pocket, not push it. If they want it great. If not no big deal. At least they know their options.
     
  8. Guest
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    I agree. more options = more customers.
     
  9. Guest
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    What company will write a good Plan G or F for a 59 year old female in California on Medicare A/B/D for reason of disability? Will anyone write under age 64?

    Thanks,
    Al
     
  10. midwestbroker
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    Does anyone know of any other Gap carriers out there?

    Medicare Advantage Gap, not Medigap.
     
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