MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agents

[jdeasy]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

Are there no ways out of this for MAPD folks? How about if someone has one of those $0 premium MAPD plans and they take a supp? What would happen then? Could you use the MAPD plan for the PD part only, and then buy a supp and tell the doctor's insurance dept to run you through original medicare, then let the supp pick up?

No, you cannot do that. It would be better for the person to get them into a stand alone PDP this AEP and a stand alone MA plan. They will have more options later.

As far as getting out of an MA or MAPD after April 1, it just can't be done unless they qualify for an SEP.

With Coventry and Wellcare getting out of the PFFS, those enrollees are going to have a GI for a med sup.

 

[DavidD1]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

Been doing insurance for some time, but I'm going to spread my wings in the senior market.

A company offered me a $2,000 dollar bonus each month if I write either 10 MA plans or write medicare supplemensts that equal $7500 in AP each month. It has a 10% contract and they provide leads.

what do you think about the offer and the math vs another company offering a 15-19% contract but no leads?

if the gurus and others think it's a good deal, i will be more than glad to pass on contracting information and the specific company....really don't want to get into all that IF YOU THINK IT SUCKS.

thanks

 

[Frank Stastny]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

Been doing insurance for some time, but I'm going to spread my wings in the senior market.

A company offered me a $2,000 dollar bonus each month if I write either 10 MA plans or write medicare supplements that equal $7500 in AP each month. It has a 10% contract and they provide leads.

what do you think about the offer and the math vs another company offering a 15-19% contract but no leads?

if the gurus and others think it's a good deal, i will be more than glad to pass on contracting information and the specific company....really don't want to get into all that IF YOU THINK IT SUCKS.

thanks

It's too late to do the math on it but it appears that you would have to write around 20 apps per month averaging $1,500 per year each at 18% commission to reach a point where the money is close to equal. I may be all off.

I don't think it matters though. Because it looks like they are going to make their money in the second through the sixth year. They are giving you 10% commission and they are probably going to be collecting 18% to 22% in years 2 - 6.

It looks like they are more than going to make that $2,000 back and then some from the business you write. You also have to also have to consider that you will not be the agent of record. They may be counting on you leaving before the six years is up and they they get to keep 100% of the commission.

I don't think I would take a deal like that.

 

[kennethbroyles]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

I was checking out what the new MA PFFS plans look like for next year. They look like good news for the Med. Supp agents. In my area zero premium plans are going to $ 65-80 for the cheaper plans.[/quote

How do you get to see the Ma plans early? I was on a call yesterday that said all plans had to re-submit and some were not going to. Meaning they are pulling out of E TN. Maybe just TN?

 

[Insuranceman]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

So far I've received emails from brokers representing Cigna and Pyrimid showing plan details for my area in 2010. I'm still waiting for Secure Horizons and Humana to show thier hands.

 

[stormtracker]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

So far I've received emails from brokers representing Cigna and Pyrimid showing plan details for my area in 2010. I'm still waiting for Secure Horizons and Humana to show thier hands.

Funny how the plans can be nailed down this early, but commissions couldn't be accurately determined until the selling season had ended...

 

[jdeasy]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

Funny how the plans can be nailed down this early, but commissions couldn't be accurately determined until the selling season had ended...

And some still haven't. Wellcare still says that they have not received the the last true-up reports from CMS.

 

[MrMack]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

So far I've received emails from brokers representing Cigna and Pyrimid showing plan details for my area in 2010. I'm still waiting for Secure Horizons and Humana to show thier hands.

I have heard Secure Horizons will wait until October 1 so that other companies won't be able to come back with new proposals.

 

[stormtracker]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

I have noticed that agents have ABSOLUTELY no say in this whole mess... Why did we put up with this and where was the REGULATORY oversight? Hmm, I guess that could be asked of the banking industry, investment industry, beef industry, etc... Do we have a trend here?

 

[vaxmanid]

Re: MA PFFS Plans for 2010 Looks Like Good News for Med Supp Agen

I have heard Secure Horizons will wait until October 1 so that other companies won't be able to come back with new proposals.

And I was told October 15. I'm sure for the same competitive reasons. As I recall the fallout last year there was a real cat fight between UHC and Humana with CMS lowering the boom nixing alleged raises in commissions. When its all said and done, CMS once again determining commission rates.