MA & Indemnity Plans

1manshow

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Is anyone using indemnity plans alongside the MA's to help with out of pocket?

If so, is there one plan that is significantly better than others?

Mainly planning this strategy for next season
 
I used GTL when I was in the field full time, but that was all I knew.

I recorded a webinar I did last year on HIP and also have a white paper that you can access here:

Hospital Indemnity Plans - SMS University

Yes, this is kind of a shameless self promotion, but the video and white paper are open access (no need to share any information to receive). There is also a carrier grid to show other carriers, but it may be dated as I put it together earlier this year.

Hope this helps.
 
I use gtl occasionally esp if they are sick and t65. I've paired it w plan F or G on occasion and the couple I've done make money off it every year bc they go in the hospital consistently when the weather changes. Pays for their Christmas gifts!
 
GTL $300/day up to 10 days is the one I usually write. People only have a copay for the 1st four days but end up getting a $3000.00 check for being in the hospital for 10 days or longer. Had it happen 4 times this year where client make about $1400 by being in the Hospital. That really pisses off their friends who say they don't pay anything when they go to the Hospital because they have the F plan. Ha
 
G Gordon...I'm not seeing your logic. Maybe you can help me understand so I won't mislead a client.

I had one this year that hit the 6000 out of pocket...and it killed their bank acct. Th logic of paying an extra $400/year and have had almost all that money paid back from an indemnity policy makes sense to me.
 
I never saw the logic of selling a plan and then adding on another policy (or two or three) to fill the gaps in the terrific coverage you sold them. Have yet to see a decent gap plan that is 100% foolproof.

If they need something to cover gaps they need a Medigap.

Of course the agent that peddles $0 premium MA then adds on other policies makes a lot more money than one that sells Medigap without additional policies.
 
If they need something to cover gaps they need a Medigap.

I have plenty of clients who wish they could afford one. Perhaps I should be less logical and show them how eating ramen 6 nights a week - instead of just 3 - might allow them to realize this dream.
 
Personally, I would never even offer a MA...but some of these people are so strapped for cash that they cant afford anything else. A $40/month premium to keep them out of the poorhouse in the event of a hospital trip makes sense to me.
 
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