No Wonder Our Seniors Are Confused . . .

[goillini52]

Well I stand corrected. My only experience is in Texas where the premium is usually at least $20 per month difference and greater.

My apologies, I retract my blanket statement!

No need to retract your statement..,just change "Plan G saves the customer money over Plan F 100 out of 100 times." to "Plan G saves the customer money over Plan F most of time."

 

[myinsurebiz]

Clearly you don't understand insurance but once again are selling yourself to new agents. I predicted you would fail previously. I have no reason to think differently.

Rick

Insurance isn't hard Rick. Med Sup is a no brainer for those that can afford it. Plan F is the best of the best for the Client, if again, they can afford it . . .

Plan G is an option if it substantially saves the client money. We'll give them the choice and let them choose. If they don't go to a doctor much - G could save them some premium.

However - Plan F won't be available anymore come 2020 - better grandfather in by then . . .

Thanks on the offer to call, but you already said I'd fail. I have plenty of doubters already

So this guy comes on here and says how glad he is that his mom had good coverage, and the first thing guys do is try and say he doesn't know what he's doing because she could have saved money on plan G? Yes, plan G is cheaper etc. but who cares with this situation, she had a good plan that wasn't an advantage plan! And plan F vs G doesn't take an "advisor" to figure out lol.

I hope your mom is doing better since her health setback..

My Mom would have only saved $16 a month - so, not worth the hassle. I studied the G and N plans last night. F still the lead. G can be an option . . .

Thanks about my Mom. She is doing so much better. She actually went to live with my Sister in Michigan that owns a private Assisted Living facility. Still has her F Plan and has no worries . . .

The problem isn't necessarily that his mother is on a Plan F. It's the fact that he won't even entertain showing a Plan G, even though it's usually a better deal for the client. If the client is educated on the difference they will go with Plan G most of the time. He's not educating them on it and makes a blanket statement that most of his clients don't want to fool with having to pay the part B deductible and would rather pay $30 or so more per month just to have a plan F.

Now I like ol' Tom, but in this case he is just wreaking of inexperience and lack of knowledge.

I'm still sold on F - but, G makes sense where it makes sense. Showing both Plans to the client won't take 2 minutes - just let them choose . . .

This time around - I'm ALL IN and am open to learning new things everyday!

Plan G saves the customer money over Plan F 100 out of 100 times.

Not to mention we're seeing rate increases for F outpace those of G. So that $115 Plan F you sold someone a few years ago is now $190 per month (where a Plan G might still be $150) but now they are "land locked" because of serious health issues. That's not a good service to your client.

I just wrote a 72 year old yesterday who's on a Plan F right now for $175 per month. Just moved her to Plan G for $116. $708 savings in premium a year, minus Part B deductible = $542 per year.

Not 100% of the time . . .

Good point on the rate increase. you have a source for the " rate increases for F outpace those of G " by chance?

$542 is a significance savings . . .

 

[Todd King]

Not 100% of the time . . .

Good point on the rate increase. you have a source for the " rate increases for F outpace those of G " by chance?

$542 is a significance savings . . .

There is no source that would state facts, only educated opinions. If one has been in the Med Supp market for a while you understand how rate increases work. It's all based on claims that are paid out. When a company stops taking Plan F and many of the healthy clients have switched over to Plan G, the only ones left in Plan F are mainly the unhealthy clients that can't switch. Therefore, it's common sense that the Plan F rates will start rising accordingly.

 

[GreenSky]

Insurance isn't hard Rick. Med Sup is a no brainer for those that can afford it. Plan F is the best of the best for the Client, if again, they can afford it . . .

Plan G is an option if it substantially saves the client money. We'll give them the choice and let them choose. If they don't go to a doctor much - G could save them some premium.

Clearly you still haven't a clue. Why would the number of doctor visits matter?

(Look it up. We'll wait).

And insurance isn't hard if you spend more than 2 minutes learning.

Your ego will once again cause you to fail. Hope you don't take too many agents down with you.

Rick

 

[myinsurebiz]

Clearly you still haven't a clue. Why would the number of doctor visits matter?

(Look it up. We'll wait).

And insurance isn't hard if you spend more than 2 minutes learning.

Your ego will once again cause you to fail. Hope you don't take too many agents down with you.

Rick

Part B covers doctors and doctors visits Rick . . .

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Clearly you still haven't a clue. Why would the number of doctor visits matter?

(Look it up. We'll wait).

So - if Sue has a G and doesn't go to doctor much or create an expense that would have to satisfy the $166 Part B deductible - then the no out of pocket costs + the premium savings would make sense . . .

It's not rocket science Rick.

But - I do appreciate the suggestions on atleast offering the G and letting the client choose - makes sense. . .

 

[goillini52]

Part B covers doctors and doctors visits Rick . . .

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So - if Sue has a G and doesn't go to doctor much or create an expense that would have to satisfy the $166 Part B deductible - then the no out of pocket costs + the premium savings would make sense . . .

It's not rocket science Rick.

But - I do appreciate the suggestions on atleast offering the G and letting the client choose - makes sense. . .

Tom, you seem like a nice guy(but sometimes clueless) so I'll help you out. Plan N has copays at the Doctors office...F and G don't.

 

[TwoLabs]

I just went through my United of Omaha newsletters and looked at their materials announcing rate increases.

I'd say roughly 60-70% of the time, Plan G and Plan F got the same rate increase. The other 30-40% of the time, Plan F got the higher rate increase. For example:

August 9th:

State Plan F Plan G
Maine 9.5 8.5
Virginia 9 7.5
Nevada 12 12

August 15th

W Virginia 10 6
Miss 8 8
Kansas 7 7
Montana 6 6
Oregon 9 9
Indiana 5 3


Etc.

And even if they get the same rate increase, the difference gets drastically different over time.

If a Plan G is $120 and Plan F is $136 and both get annual 6% rate increases. The first year there is only $192 difference. I can get that's not a big difference and might not be worth it to most. However, compound interest is a big deal.

After 10 years Plan G is at $215. Plan F is at $243 per month. That's now $336 difference per year.

Even that is on the very conservative side, because as Todd said, the chances of Plan G and Plan F going up identical over 10 years is nearly impossible. Plan F is becoming increasingly more expensive.

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[myinsurebiz]

There is no source that would state facts, only educated opinions. If one has been in the Med Supp market for a while you understand how rate increases work. It's all based on claims that are paid out. When a company stops taking Plan F and many of the healthy clients have switched over to Plan G, the only ones left in Plan F are mainly the unhealthy clients that can't switch. Therefore, it's common sense that the Plan F rates will start rising accordingly.

Makes sense . . .

When premiums get to high - couldn't you move that client to a MA / MAPD and add a wrap around like GTL or Heartland to cover the OOP expenses not covered? Provided of course the client's doctors were in the MA / MAPD network.

If client isn't happy - they have a year to switch back to Sup as if they never left is my understanding . . .

 

[Todd King]

Makes sense . . .

When premiums get to high - couldn't you move that client to a MA / MAPD and add a wrap around like GTL or Heartland to cover the OOP expenses not covered? Provided of course the client's doctors were in the MA / MAPD network.

If client isn't happy - they have a year to switch back to Sup as if they never left is my understanding . . .

Yeah, you could do that. Or better yet, if the difference in price warrants it, just put them on Plan G to begin with and forget about it.

Also, your statement about a client not going to the doctor would justify a Plan G is not good logic. First of all, not too many seniors that don't go to the doctor at least twice in a year. Using your logic you could say that not being on any kind of supplement at all is the best choice. That wouldn't be a very good and logical decision, would it?

Here's the plan and simple truth. If a Plan F is $167+ per year more than G, then G is the better deal. Now I do understand if a Plan F is only like $180 more they might not want to switch to G just to save $14. I get that. It's usually not that close though. Prices do vary by state and regions within that state, so you can't make blanket statements that F is always better or G is always better.

 

[myinsurebiz]

Tom, you seem like a nice guy(but sometimes clueless) so I'll help you out. Plan N has copays at the Doctors office...F and G don't.

My understanding is that with the exception of co-payments, in a Plan G that all Part B medical expenses are subject to satisfying the $166 deductible first before being paid by the carrier.

This isn't the case?

. . . and yes, I am a nice guy - thanks

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Yeah, you could do that. Or better yet, if the difference in price warrants it, just put them on Plan G to begin with and forget about it.

If the client can afford it - I would suggest anyone take a Med Sup from the beginning or if they can switch with no questions asked . . .

Now - since it was explained to me - we can offer the G and F - let the client decide . . .

Also, your statement about a client not going to the doctor would justify a Plan G is not good logic. First of all, not too many seniors that don't go to the doctor at least twice in a year. Using your logic you could say that not being on any kind of supplement at all is the best choice. That wouldn't be a very good and logical decision, would it?

I was pointing out that if the client might not incur expenses that are subject to the $166 - then they'd most def save money with a G if enough spread between the F . . .

But - all seniors I know go to doctor a bunch. Thus - why F is just a pay the premium and don't worry about anything option . . .

But - I get you. Thanks for the detailed explanation Todd!