Med. Supp. Plans M and N

[b-insure]

Hi everybody,
I was wondering if anyone has received any info on plans m and n yet. I am very interested in finding out premium and commission information on these two plans seeing how we are just months away from being able to write them. Anything you can post would be appreciated. I will post info as it comes into my office as well. Thanks.

 

[G.Gordon]

According to MOO's "Mutual Matters" MOO has modernized plans approved in 25 states. They aren't offering M or N in any of them. I'm doubting we'll see much of them offered and if so it'll be some second rate company and the premium will be within 10% of what some other company offers a D, F, or G at.

It'll go over like K and L... FLOP!!

 

[b-insure]

I think these plans will do a little better than k and l. Never as well as the 1992's though. I think that they could be good products with the right companies selling them. Thanks for the MOO info!

 

[Russ]

MoO doesn't have the modernized plans available yet in Florida....not approved. I hope they get approved real soon so I can write those turning 65 in June. Right now I'm in limbo on them. AARP hasn't been approved either for the modernized plans in Florida.

 

[G.Gordon]

They are approved in KS and I have some T65s for 6/1, but I've advised them to sit tight. I rarely write a T65 until the month before they hit Medicare.

 

[Professor Leads]

I rarely write a T65 until the month before they hit Medicare.

Just curious...Why?

 

[Frank Stastny]

According to MOO's "Mutual Matters" MOO has modernized plans approved in 25 states. They aren't offering M or N in any of them. I'm doubting we'll see much of them offered and if so it'll be some second rate company and the premium will be within 10% of what some other company offers a D, F, or G at.

It'll go over like K and L... FLOP!!

MOO has filed both M & N in forty-one states. Although no one has released what the premiums are going to be, MOO has said that the premiums will be around 60% to 75% of what ever the rate in that state is for Plan F. At this time they have said that there will be no change in the commission schedule for those plans.

Of the two plans, N is suppose to carry the lower premium. I anticipate that Plan N is going to be one of the most popular plans.

No company wants to be the first one to publish rates for M & N. I believe they are all waiting for another company to be the first. It will be interesting to see who will be the first.

A representative from Genworth said that they are not going to offer Plan M and have only filed for Plan N.

I have also been told that in states that have a Plan J, that Plan F is being refiled at a much lower premium than what the current Plan F is priced at.

 

[G.Gordon]

That will be good news, but I'll believe it when I see it. "IF" the premiums are set like you say that will be GREAT news for the consumers and 2010 will be one hell of a year for a go getter agent. If our prices for the "modernized" plans are anywhere close to what I've seen for other states I will make a killing bringing in new clients. I suspect April to November to be a 12/day/6 day/week season.

 

[Frank Stastny]

That will be good news, but I'll believe it when I see it. "IF" the premiums are set like you say that will be GREAT news for the consumers and 2010 will be one hell of a year for a go getter agent. If our prices for the "modernized" plans are anywhere close to what I've seen for other states I will make a killing bringing in new clients. I suspect April to November to be a 12/day/6 day/week season.

That is "accurate" info as of today right from the MOO rep.

I believe we are looking at a HUGE explosion of Med Supp sales in the coming months.

I anticipate the most extreme explosion to begin occurring October 1. I will then begin marketing Plan N in the St. Louis and KC areas and believe I will be able to show prospects that have an HMO that taking Plan N will be a much better investment of their premium dollar.

We may be able to retire in 2011.

 

[G.Gordon]

We may be able to retire in 2011.

We think alike.