MAPD out of pocket insurance

[jack3454]

I was watching a video can’t remember who it was, but he mentioned there are insurances that people can get to pay for the max out of pocket for MAPD plans if something serious happens to them. Does anyone know what this is about and what its called?

 

[straightnochaser]

That's called an Indemnity plan, typically hospital, cancer, SNF etc

 

[Packerland]

We sell a hospital in dimity and cancer policy with about half of the Medicare Advantage plans we sell we also sell about 10% of all Medicare supplements we sell with a cancer policy.

 

[StephanieCJ]

I have found that the hospital indemnity part is not really worth it if you do the math (all of the hospitals in our area will do a payment plan), but I do sell the cancer plans. Most of the people who are going to go for MAPD are also probably not saving for the MOOP if a cancer diagnosis comes up. I also usually go for an amount over the MOOP, so that they have a bit left over for non-medical costs associated with a cancer diagnosis.

 

[Packerland]

we always offer our clients three options.
These
1 Medicare supplement with RX plan
2. MA
3. MA plus HI and Cancer

we give the pros and cons of each of these options and let them decide what makes the most sense for them.

When you consider the cost of an HI $300 per day for 6 days is about $18 a month or $216 per year the HI option is a great value .. especially for those that are concerned with the cost of inpatient admission…

 

[Special Agent]

i believe that is called insurance for your insurance.

 

[Packerland]

i believe that is called insurance for your insurance.

Really an unplanned hospital visit can leave you with co-pays not covered by a MA plan. A HI pays you cash to help offset your co pays per day that you MA plan health doesn’t cover so you can worry less about covering your everyday needs. I like to say it covers the gaps in your MA coverage. People coming off a Med Supplement love this option.​

 

[jack3454]

We sell a hospital in dimity and cancer policy with about half of the Medicare Advantage plans we sell we also sell about 10% of all Medicare supplements we sell with a cancer policy.

How much do these run ballpark? Im assuming much less than a Medigap would cost?

 

[jack3454]

I have found that the hospital indemnity part is not really worth it if you do the math (all of the hospitals in our area will do a payment plan), but I do sell the cancer plans. Most of the people who are going to go for MAPD are also probably not saving for the MOOP if a cancer diagnosis comes up. I also usually go for an amount over the MOOP, so that they have a bit left over for non-medical costs associated with a cancer diagnosis.

Do you offer the cancer plans to everyone? Or just who might have a history of cancer?

 

[jack3454]

we always offer our clients three options.
These
1 Medicare supplement with RX plan
2. MA
3. MA plus HI and Cancer

we give the pros and cons of each of these options and let them decide what makes the most sense for them.

When you consider the cost of an HI $300 per day for 6 days is about $18 a month or $216 per year the HI option is a great value .. especially for those that are concerned with the cost of inpatient admission…

Are the HI and Cancer rolled into one plan? I dont know much about HI, but I know Aetna has a plan that pays for Heart attack and cancer and its simple to understand. I think its prudent to offer this to people now that I have realized it can help pay for the MOOP