Somehow I doubt that. Don’t let me run into one of your clients .I have a $3200 moop with 0/$15 drs and I’m face to face which clients love .The ship is steaming in the other direction and your fighting it .
-
Do you have any victories you'd like to share for the month of May? Help us celebrate others by posting here.
MAPD Enrollment grew 9% this year and will pass Medigap enrollment next year
- Thread starter Fire
- Start date
Somehow I doubt that. Don’t let me run into one of your clients .I have a $3200 moop with 0/$15 drs and I’m face to face which clients love .The ship is steaming in the other direction and your fighting it .
I don't care if you believe me or not. I would show you my 1099's but I don't want to embarrass you.
My business is 100% telephonic and 80% of new clients come via referral. Almost 100% specifically ask for a Medigap . . . why would I refuse them? Many say "I have looked around and I definitely DON'T want an Advantage plan.
My clients give me all their personal information by phone and email . . . including their Medicare number, SSN and bank information. Underwritten applications involve conveying PHI in addition to their Rx history and condition treated.
These folks have never met me yet they not only trust me but the business stays on the books.
Last year I lost 4 clients to MAPD . . . more than I have lost in any year in the past 11.
Two of these folks were being stretched by premiums . . . they also have high medical bills for chronic conditions . . . there is a good chance they will spend $2000 or more in OOP copays for their "free" Medicare plan.
I use $2000 because that is about what their Medigap premiums were running plus their $230 Part B deductible (2022).
The other two were healthy clients I only had for a few months.
Correction, I lost 5 last year.
I forgot about the lady (tobacco user) with 2 bum knees that needed to be replaced once she enrolled in Medicare . . . one knee scheduled for November . . . the other for January or February.
The premium was a bit of a stretch, mostly because of the tobacco load but it was softened by the $203 deductible (2021) and $233 this year.
Her policy was issued but never funded. I normally don't call to find out what happened but in this case I did. She said the premium was going to be too much of a stretch so she enrolled in a $0 plan.
We had discussed the MA option before she committed to getting the Medigap plan. I estimated her OOP for each knee (inpatient surgery plus 3 months PT) to be somewhere in the $2,000 to $3,000 range . . . she said she could not afford that
I have no idea if she ever got her surgery or not . . . it is no longer my concern.
My "ship" is doing just fine, but I appreciate your concern for my wellbeing.
I'm still one of the old guard that resists the MAPD scourge. All the scope of appointments, annual training, regulations, etc. Main thing I cant stand is how these plans are protected by the disenrollment period, which means an ever growing number of people cant be sold except for a tiny window at the end of the year.
Still, it has its perks... being virtually guaranteed issue. I'll still do it, but its a case now of "if you cant beat 'em, join em). Still the most reliable way of getting to the other higher end products.
Still, it has its perks... being virtually guaranteed issue. I'll still do it, but its a case now of "if you cant beat 'em, join em). Still the most reliable way of getting to the other higher end products.
- 4,139
You're really overselling this in-person thing.
I won't speak for anyone else.. but I can tell you the only people that I've lost were people that moved here and then moved to another state after the winter, and I've fired a person that was DSNP for a reason I can't remember anymore.
I tell people I don't do in-person appointments and am happy to refer them if they want someone in their home. I've literally referred 3 people and I close conservatively 40% of the time.
I offer both Medicare Advantage and Medigap plans. My mix is probably 30/70 Medigap.
I don't care if you run into one of my clients and persuade them to sign up with your plan. If they're happy, I'm happy for them. We are not in competition. There are literally thousands of people turning 65 every single day.
The only people that turn this into a competition are too insecure to just do their job.
And people who put square pegs in round holes
The truth is if you do the right thing by clients and keep in touch You should not lose too many
As I believe you see for yourself as You indicated you don't lose too many without an actual reason
- 4,139
Literally, the hardest part of this job is getting leads on a consistent basis. I don't "buy" leads.. I did it once and it made me feel gross. I do send out marketing pieces and do online marketing and I just wait for the phone to ring. 10 years ago people, even on this forum, used to think that was not really working.
I think it's the best way to be successful with my time. I'd rather work 20 hours and make 100$ an hour vs 50-70 hours and make 20$ an hour. The rest of my time is split up to other projects and that's okay with me.
I'm leaving a high-stress job to make my life easier. Not to be in a position to be stressed out working 3500 hours a year, white-knuckling through appointments.
Don likes to be in people's homes. Good for him, honestly. I hate being in people's homes because I feel more confident on the phone. There are more than enough people out there that will work the way that you want to work. Crapping on someone else business doesn't seem productive.
I'm a firm believer that my job isn't to sell you anything. I suggest options based on my experience and your situation. If you don't like that route.. You tell me what you want, my job is to find you the best option. That's it.
I'm an order taker. That money spends the exact same way.
All I'm saying is, do things you want to do them. Be happy with your business. Don't try to crap on what Bob, myself, Vic, Don, or whoever else does. Unless you want to pay my bills.. cause I'd be happy with that too and you can say I don't know what I'm doing all day and I'll sleep in and pot is legal in MI.
My Long Term Care clients almost always get Medicare supplements, my heavily subsidized ACA clients turning 65 generally get $0 premium advantage plans and are bummed at the $170/month part B cost.
Pretty simple profiles here. Notable exceptions of course, but since I am referral only, thats how it plays out.....and I have tons of LTC clients. Low income cloients tend to refer other low income clients.
Some healthy clients may save the $150/med sup + rx premium by getting the Joe Namath plan and use that money to buy some LTC insurance. which is really the big risk anyway...isn't it? Whats a $6000/year MOOP when compared to a $6000/month assisted living bill?
Pretty simple profiles here. Notable exceptions of course, but since I am referral only, thats how it plays out.....and I have tons of LTC clients. Low income cloients tend to refer other low income clients.
Some healthy clients may save the $150/med sup + rx premium by getting the Joe Namath plan and use that money to buy some LTC insurance. which is really the big risk anyway...isn't it? Whats a $6000/year MOOP when compared to a $6000/month assisted living bill?
InsuranceGuy29
Guru
- 418
I can only speak for my area, but MAPD plans have only gotten better-and-better, every single year. A supplement right out of the gate really isn’t necessary for most people, unless they’re extremely sick and going for treatments every single day or week. If I was aging into Medicare, an MAPD would be a no-brainer to take. I’d then take all the savings and invest them.
100% agree . People who make $100k or more a yr will buy a med sup and i agree . People between $60-$90k will tussle what to buy . $40-$60k will be 80-20% mapd/med sup . Below $40k will be 95% mapd. I think the acceptance with mapd is “ Its actually as good or better than my group coverage but its zero cost . You’ll never here me argue a sup is much better coverage than a mapd . But its about costs for many lower income people . The big rise in mapd the last few yrs speaks for itself. The $170.10 part b has pushed more people to mapd .
- 4,139
Yeah, this is not what I find at all. 40-60k is 20/80 in my experience Medigap.
Also, not really. The big push to MAPD is insurance companies and agents that make more money off of MAPD vs HDG/F with a lower MOOP. The actually cost of coverage is essentially neutral with less hassles.
The truth is making 6 bucks a month sucks on an HDG plan, so AGENTS usually don't bring it up.
I know Lost Dollar will disagree, but routine DVH is meh, OTC is okay, but as long as they get that Silver Sneakers they almost never use.. everything is gravy ::Eyeroll::
If you're selling LTC, then paying 30-40$ a month + usually 7.50$ for PDP is nothing for your clients and offers better overall benefits.
Similar threads
