MedSupp Disabled in California Turning 65

[Senior_Ins]

MedSupp question: Client lives in California, disabled, age 64, T65 in a few months. Obviously, premium difference between u65 and T65 is significant...

Does anyone know how MedSupp carriers in California handle re-rating for u65 when they T65? Is it by the policyholder's birthday or is it on the anniversary date of the policy?

Similar question on comp - do MedSupp carriers pay the original comp or does it go to full comp when they T65?

Any specific carriers/example?

 

[GreenSky]

Does anyone know how MedSupp carriers in California handle re-rating for u65 when they T65? Is it by the policyholder's birthday or is it on the anniversary date of the policy?

Similar question on comp - do MedSupp carriers pay the original comp or does it go to full comp when they T65?

Since he's your client, why don't you just call the carrier?

There is no anniversary date on the policy and it's the 1st of the month after his birthday. At least that has been my experience.

Don't know about comp but the plan he has U65 might not be the best plan once he turns 65. How about re-rating him?

Rick

 

[Senior_Ins]

I know what this carrier does, I was hoping to see if anyone else had a similar experience, and didn't want to "lead the witness" by sharing my example and just having people agree...

 

[GreenSky]

I know what this carrier does, I was hoping to see if anyone else had a similar experience, and didn't want to "lead the witness" by sharing my example and just having people agree...

Not quite sure what that means but I agree.

Rick

 

[goillini52]

MedSupp question: Client lives in California, disabled, age 64, T65 in a few months. Obviously, premium difference between u65 and T65 is significant...

Does anyone know how MedSupp carriers in California handle re-rating for u65 when they T65? Is it by the policyholder's birthday or is it on the anniversary date of the policy?

Similar question on comp - do MedSupp carriers pay the original comp or does it go to full comp when they T65?

Any specific carriers/example?

When he turns 65, he'll have a fresh Open Enrollment for 6 months from the 1st day of the month in which he turns 65 for Med Supps. You should make full commissions on Open Enrollment business. You'll need to write him a new policy.

It sounds like you only have one carrier to offer?

 

[DS4]

Not quite sure what that means but I agree.

Rick

I disagree if that helps

 

[GreenSky]

I disagree if that helps

It certainly makes me feel better.

Rick