Network effect on Sups?

[ABC]

I am not in the Senior market but I have a question about networks and how they pertain to a sup.

If you have a hospital pull out of a network does that have any effect on Medicare Sup Policies that are already in force.

I know this might be a rookie questions but I chose to quit selling the senior market after the increase on the D policies.
Way too much service for what I was being compensated.


Thank you

 

[Frank Stastny]

Nothing effects a Medicare Supplement Policy. I have never heard of a hospital not accepting Medicare or a Medicare Supplement policy.

However, it does not sound like your question is really about Medicare Supplement policies.

I believe what you are asking about is an HMO since they have network doctors and hospitals. However I will let you decide that.

 

[policy doctor]

Are you referring to a Medicare Select Supplement? Those have pre-negotiated rates with certain network hosps.
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BTW...I don't know any agents selling those. Not worth the hassle.

 

[Frank Stastny]

I don't think he is talking about the Select plans either.

He said "...I chose to quit selling the senior market after the increase on the D policies. Way too much service for what I was being compensated".

I'm not sure what he meant by "D policies" and there being way too much service.

I hope he responds, maybe we can help him. It sounds like he may have gotten some bad training when he tried to enter the senior market.

 

[policy doctor]

Well the supp "D" plans have had a rate increase, along with "G" and "F"

One co has stopped selling all varieties except "E". That would be New Era Life . Wonder what's up with that?

And if he's referring to Part D known as PDP plans, yeah, they are a pain if that's all you're writing. Looking up their medications gets crazy. I don't do that anymoire. Just ask how many $$$ a month on meds, any generics or name brand, and the higher the yes, the bigger the plan i sell.

True, today's agents do not get field trained. Just product info...which they can read.

 

[Frank Stastny]

Well the supp "D" plans have had a rate increase, along with "G" and "F"

One co has stopped selling all varieties except "E". That would be New Era Life . Wonder what's up with that?

And if he's referring to Part D known as PDP plans, yeah, they are a pain if that's all you're writing. Looking up their medications gets crazy. I don't do that anymoire. Just ask how many $$$ a month on meds, any generics or name brand, and the higher the yes, the bigger the plan i sell.

True, today's agents do not get field trained. Just product info...which they can read.

If he is talking about a Med Supp Plan D I really don't know what he means by "Way too much service for what I was being compensated". Med Supp Plans are almost as "service free" as selling a life policy.

If he is talking about Medicare Part D then I totally agree with what you said. When they first came out I let my policy holders know that I had it available. That was a big mistake. haha

I was getting calls all hours of the day and night and spending well over an hour with each one trying to explain how it worked and then re-explaining several times. Then I had to listen to why they thought it wasn't as good as it should be.

After a while I suggested that they go to their pharmacy and have the druggist run a list of their drugs. I was not certified with all the companies and I told them that their pharmacist could probably check with all of them and recommend the very best one for them.

That's what I am currently doing when I sell a Med Supp if the person is going on Medicare for the first time.