Medicare Supplement Carrier Misled Consumers

[Midlevel]

Once in awhile either a husband or a wife will spend upward of $1000.00 on copays but usually equals out between 2 of them and they save money.

The GTL product pays so much per day up to 10 days in the hospital. Cost around $30-$35/month and have had a few max it out and get a $3000 check in the mail even though copay was less than $2000 in the hospital. It can pay out more than once a year if they are in the hospital more than one time.

It depends on the price of the MA plan, some are $0 and some are $50/month or higher. The one I have usually written is $0 and then add the $30/month GTL plan. Don't think I only sell MA's because over half my business is still on a Med Sup.

 

[goillini52]

1) so how often have you had people spend more than, say, $1,000 OOP?

2) Is this GTL product a one time use product like some of the cancer help plans I've been told about?

3) And if an MA or an MAPD plan has to have one or more additional insurance products with it to make it economically viable, it is probably no longer fair to just compare an MA plan price to a Medigap supplement price.

Good point LD......

 

[somarco]

Companies will also be able to still offer the F Plan to people Grandfathered in so they can start a new block of business and pick the healthy people just like they do now.

I can't think of anyone who has bought F in the last 2 years. Can't imagine a wave of folks wanting it in 2020.

Of course there are agents that never learned how to offer anything other than F. Perhaps you are one of them?

I have been hearing the Part B deductible could be as high as $1500 by 2020

Have you been reading Hillary's emails?

Where did you hear such nonsense?

I'm just waiting until 2020 where I believe Medicare Advantage will explode with new members.

What does your crystal ball say about the Nov election?

Seriously. Where are you getting this crap?

Tom, I am not getting into the "Buy a $0 premium plan so you have money left over to buy garbage plans to fill the gaps in your MA plan and I can earn more commission" argument. Had it too many times. No need to repeat it.

If someone wants to peddle HIP, cancer, etc to $0 premium MA clients that can't afford a Medigap, go for it.

 

[joe92275]

Yes typo on my part. I meant to say

The fact remains that in almost every analysis the lowest costing Plan G is still a better econimic value than the lowest costing Plan F while factoring in the annual Part B deductible.

 

[Midlevel]

So there you go folks, G plan for everyone! End of discussion. Shut down the discussion boards.

So Part B deductible went up 23% for next year (this happened during an election year). Let's just be conservative and say it goes up 23% every year until 2020. Now it's at $379.95 in 2020. My opinion is it will be much higher than that when government gets their way of clients paying first.

Now let's say the G plan for a 70 year old goes up 10%/year until 2020, now we are at $160/month premium. Now they are paying $2300/year before they get any coverage at the Dr, Outpatient Services, etc.

Client says I like the looks of this $0 premium MA plan, I could go to the Dr. 92 times before I hit what I'm paying on the G Plan Mr. or Mrs. Somarco.

No, you are still way better off on the G plan, besides that's all I know how to sell.

You ask where I get my information, I talk to the heads of FMO's and actually read up on the bills that get passed, etc. You should give it a try and it may just help your business.

 

[goillini52]

So there you go folks, G plan for everyone! End of discussion. Shut down the discussion boards.

So Part B deductible went up 23% for next year (this happened during an election year). Let's just be conservative and say it goes up 23% every year until 2020. Now it's at $379.95 in 2020. My opinion is it will be much higher than that when government gets their way of clients paying first.

Now let's say the G plan for a 70 year old goes up 10%/year until 2020, now we are at $160/month premium. Now they are paying $2300/year before they get any coverage at the Dr, Outpatient Services, etc.

Client says I like the looks of this $0 premium MA plan, I could go to the Dr. 92 times before I hit what I'm paying on the G Plan Mr. or Mrs. Somarco.

No, you are still way better off on the G plan, besides that's all I know how to sell.

You ask where I get my information, I talk to the heads of FMO's and actually read up on the bills that get passed, etc. You should give it a try and it may just help your business.

It's been a long time since I had popcorn for breakfast.

 

[somarco]

Reading PROPOSED legislation that has not yet been passed is always fun. Can't tell you how many hours I wasted prior to the signing of Obamacare. Read through hundreds of pages of proposed legislation, commentary by those (supposedly) in the know (think tanks).

In the end what we got was not what was promised.

So glad there are others that enjoy banter about what MIGHT happen according to the tea leaves, their horoscope and the last time they had sex.

 

[Todd King]

So there you go folks, G plan for everyone! End of discussion. Shut down the discussion boards.

So Part B deductible went up 23% for next year (this happened during an election year). Let's just be conservative and say it goes up 23% every year until 2020. Now it's at $379.95 in 2020. My opinion is it will be much higher than that when government gets their way of clients paying first.

Now let's say the G plan for a 70 year old goes up 10%/year until 2020, now we are at $160/month premium. Now they are paying $2300/year before they get any coverage at the Dr, Outpatient Services, etc.

Client says I like the looks of this $0 premium MA plan, I could go to the Dr. 92 times before I hit what I'm paying on the G Plan Mr. or Mrs. Somarco.

No, you are still way better off on the G plan, besides that's all I know how to sell.

You ask where I get my information, I talk to the heads of FMO's and actually read up on the bills that get passed, etc. You should give it a try and it may just help your business.

That's being conservative? And do you really expect Plan G to increase 10% per year? Really?

In the end you may be right, but for now let's just say that "No, the sky is not falling".

 

[Midlevel]

I think it's very conservative saying Part B deductible will go up 23% per year. Plan G at 10% isn't far off I bet.

I don't have a lot of time to post anymore, I'm frantically trying to get all my client's to a G Plan before they get screwed on their current plans.

 

[somarco]

Todd, it would seem that Mudlevel's client base don't vote.

Medicare and SS have long been a third rail in politics. No matter how much they (politicians) may talk about "saving" Medicare they don't dare increase costs dramatically for their constituents.

Raising deductibles and premiums combined with little or no COLA is a political disaster.