Medicare Advantage

Jul 26, 2007

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  1. TheSalesWolf
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    TheSalesWolf Super Genius

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    Don't really do the Senior Market however with clients turning 65 I guess I should be a little up to date on some stuff.

    If a client chooses a Medicare Advantage plan and during open enrollements wants to switch back to a MediGap Policy are they able to do that without having to be accepted?

    For example a guy has a heart attack while on the Advantage plan, and then finds out he doesn't like the policy because the doctor he has to see is 45 miles away. Can he switch back and get the regular coverage.?
     
  2. Frank Stastny
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    Frank Stastny Guru

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    During the first six months after getting Part B of Medicare, Open Enrollment, people can switch policies or companies weekly if they choose without having to answer any health questions.

    After six months they will have to answer health questions unless they take a Medicare Supplement policy with AARP. AARP is "group" insurance and the only question they have to answer is if they are on dialysis.
     
  3. TheSalesWolf
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    TheSalesWolf Super Genius

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    So basically once they get on an Advantage plan they are hosed.......

    Why does anyone sell these policies?
     
  4. Frank Stastny
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    Frank Stastny Guru

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    The senior market is a very neet, clean, easy market to work in.

    It is a natural progression for your clients who are turning 65 to take a Med Supp policy. You already have their trust, you are their "insurance agent". Why would they not look to you for guidance and want to continue their health insurance with you?

    Don't you think your clients would feel a lot more comfortable with you advising them about Medicare and the options available rather than them having to look for a stranger to help them with something as important as the continuation of their health insurance?

    I would be glad to represent you with all of your clients who are approaching Medicare age. Just thought I'd ask, what, the worst that can happen is that you say NO. :D
     
  5. TheSalesWolf
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    TheSalesWolf Super Genius

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    Thanks for asking, but I think I will advise them at least for now.

    From what I know now I definitely do not want any of my clients to even think about going on an Advantage plan.

    Does anyone on here sell Advantage plans? and if so how do you think they are a good thing for any client?
     
  6. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    If your guy takes an advantage plan at 65 he has 12 months to switch back to original medicare and get a medicare supplement regaurdless of his health. SO actually he is not hosed.
     
  7. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    I have sold a few. I do not think they are the worst thing in the world. They are defintetly not the best compared to a supplement but some people can't qualify health wise or they simply cannot afford a med supp. I would never think about putting someone in a MA that had a lot of health problems. Unless they didnt have a med supp. Med supps are definetly the best if they can afford it.
     
  8. Frank Stastny
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    Frank Stastny Guru

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    Midwest broker is the PFFS expert. Maybe he will join in.

    As I understand it they can dump their PFFS plan and go to a Medicare Supplement policy but if it is outside the Open Enrollment period for Med Supps (the first six months after they receive Part B) they will have to answer health questions on the Med Supp app.

    I don't recommend PFFS plans nor do I sell them. I don't like them, there are too many potential problems for people who live in rural Missouri.

    I have yet to see anything better for people than a Medicare Supplement policy. Unless, they have no money and can't really afford a Med Supp.
     
  9. Frank Stastny
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    Frank Stastny Guru

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    I didn't realize that. Can that person dump their PFFS plan at anytime during that 12 month period and get a Med Supp as Guar. Issue for the full 12 months? What is the process for cancelling the PFFS plan and getting back on Medicare?

    If a person goes with any of the Part C Advantage plans they immediately no longer have Medicare. If it is with an HMO then I believe that all they have to do is notify Medicare that they want their Medicare back and the HMO is automatically cancelled. It's been a while since I've done one of those.

    Is it the same with dumping a PFFS plan?

    Since I really don't sell them I don't know all the ins and outs about them.
     
  10. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    United World will accept ANYONE inside the 12 month period of being on a MA plan. If they chose an MA in the OE period then They can go to any med supp inside the 12 month period. All you need to provide is the expiration leter of the MA plan.
     
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