New Proposal Would Require Insurance Agents To Disclose More About Medicare Advantage Plans

[rmhaire]

Today's lesson brought to you by the letters E & O . . .

That may work, may not.

Seems like there are some challenges to dropping B.

You may need to schedule an interview to review the risks of dropping coverage and get assistance with your request
Your coverage will end on the last day of the month after you file your request. For example, if you submit your request on April 1, your coverage will end on May 31.
Canceling Medicare Part B can have some risks, including: A health coverage gap, A late enrollment penalty, and Higher monthly premiums.

There are things in life you can do, and things you probably should not do.

This would fall under the "probably should not do" clause . . . or at least not advise someone to do.

And you didn't read my post.

I didn't say do it. Or even recommend it.

I simply said it was doable to avoid a lifetime of paying 20%.

 

[Packerland]

You cannot legislate ethics; true ethical behavior comes from a commitment to doing what is right….not from rules imposed more rules … Medicare's new proposal to address Medicare Advantage plan practices, particularly those involving call centers….highlights this ongoing challenge. While rules may target unethical practices like hard-selling or misleading clients….those intent on exploiting loopholes often find ways to circumvent the regulations…The focus should be on fostering accountability and integrity, rather than relying solely on legislative measures to enforce ethical conduct…

 

[Special Agent]

Wait, don't we already do this for our clients? What does' CMS think that we're doing out here?

The ability to switch Medicare plans isn't as available as many beneficiaries are told or believe, and the Centers for Medicare and Medicaid Services wants beneficiaries to be more aware of the practical limits.

In a section of new proposed regulations, the Centers for Medicare and Medicaid Services says that agents and brokers must discuss certain topics with customers before enrolling them in Medicare Advantage plans, a proposal CMS labels Informed Enrollment.

The proposed regulations also say that after presenting this information, the agent is to "pause to address remaining questions the beneficiary may have…"

This section on "informed choice" is only part of a 713-page proposed regulation that also says, among other things, Medicare will pay for the new obesity drugs. That likely will increase future premiums.

The change in regulations was proposed recently. There's a public comment period. Then CMS has to review the comments and consider them before issuing final regulations.
[EXTERNAL LINK] - New Proposal Would Require Insurance Agents To Disclose More About Medicare Advantage Plans

The one thing that CMS could do that would help cut down on the confusion about Medicare Advantage is simply rename it as the Private Medicare Option including Part D or something similar that describes what it is and doesn't infer that it is better or has an "advantage" over original medicare.This transparency will never happen though because the insurance industry lobby in washington is to powerful yet the agents under the CMS marketing compliance thumb have to pay the price when nice little old 75 year old lady gets confused after we do are best to explain the plans benefits and limitations.

 

[somarco]

And you didn't read my post.

Not only did I read it, I reported it as well.

 

[rmhaire]

Not only did I read it, I reported it as well.

Oh Yeah. Well two can play that game.

I'm calling Rachel.

 

[goillini52]

Not only did I read it, I reported it as well.

Who did you report it to?

 

[sshafran]

Who did you report it to?

All reports go to Rick.

You didn't know that?

 

[goillini52]

All reports go to Rick.

You didn't know that?

No...I thought we got rid of him.

 

[somarco]

I'm calling Rachel.

She has you blocked

 

[annon123]

You cannot legislate ethics; true ethical behavior comes from a commitment to doing what is right….not from rules imposed more rules …

You are correct... but what you can do is legislate incentives to do the right things or negative consequences if you do not.