Out of Pocket vs. Deductible

[TXINSURANCE]

Well in his defense these insurance companies do not make this easy. There is no universal answer.

Company A - OOP is in ADDITION to deductible

Company B - OOP is iNCLUDED in the deductible

Company C - OOP is capped at 20% of the amount displayed (ever look at GR in Norvax shows a $10,000 max OOP)

And HMO's is another issues since while your max might be hit - you may still have co-pays, sometimes per incident, per admission, or per day.

So we can all sit here and proclaim to be insurance experts but half of the Aetna IFP agents I know are not aware that the max OOP includes the deductible, etc., etc.,

Since these insurance companies provide virtually no training and say "here you go, start selling..." - They hold training seminars but usually everyone at the seminar is clueless - I could read the Brochure and Policy in 15 minutes and host the seminar.

 

[J.R.]

Well in his defense these insurance companies do not make this easy. There is no universal answer.

Company A - OOP is in ADDITION to deductible

Company B - OOP is iNCLUDED in the deductible

Company C - OOP is capped at 20% of the amount displayed (ever look at GR in Norvax shows a $10,000 max OOP)

And HMO's is another issues since while your max might be hit - you may still have co-pays, sometimes per incident, per admission, or per day.

So we can all sit here and proclaim to be insurance experts but half of the Aetna IFP agents I know are not aware that the max OOP includes the deductible, etc., etc.,

Since these insurance companies provide virtually no training and say "here you go, start selling..." - They hold training seminars but usually everyone at the seminar is clueless - I could read the Brochure and Policy in 15 minutes and host the seminar.

Agreed. All the fancy terms were learned by studying for our license test are not utilized.

 

[insuremojo]

LOL! Hey padthaiforlunch, I was just being honest! This is no place for amateurs to hang!

TXINSURANCE is right, there are so many variables with different insurance companies you better bring your "A" game or don't bring it at all.

Greensky puts it down right every time! Thanks for having my back!

Lakers rule! Lakers 130 Suns 124 We're making a run baby!

 

[somarco]

trained RIGHT by one of the best health agents in the nation

Anyone we know?

Company A - OOP is in ADDITION to deductible

Company B - OOP is iNCLUDED in the deductible

Company C - OOP is capped at 20% of the amount displayed (ever look at GR in Norvax shows a $10,000 max OOP)

Bottom line is, you need to read.

I am familiar with carriers I use on a regular basis, but sometimes need a refresher. I maintain good relationships with my carriers and have reps who are knowledgeable and willing to enlighten me.

Consumers fall into one of two categories. Either they broad brush their search and end up with Mega or they over-analyze.

Of course agents can be just as dumb.

When they over-analyze (consumers & agents) they make it much more difficult than is necessary. Health insurance doesn't have to be complicated but too many make it that way.

Stick with simple plans with no moving parts and everyone will be happier. I use my "pitch" to educate consumers on the complexity of copay plans and move them toward plans with no deductibles.

Works about 95% of the time.

 

[padthaiforlunch]

You're potentially playing with someones financial security.....selling a product when you have no idea how they work is borderline criminal!

Omigawd, Veronica! I didn't know you were such a drama queen!
Really, I might ruin someone's financial security by selling them health insurance? What does that say abouit the carrier that packages the product? (No, I won't sell NAA.)

Was your name Heather in highschool?



Ok, big apology. The student shouldn't mock to teacher. If you (or anyone else) wants to be cock-of-the-walk, go right ahead -- but I will respond with derision. (I know, it's a personal character flaw that has haunted me my entire life.)

I will now be humble.

I'm sure you know your stuff, and I really do appreciate any enlightenment those of you in the know care to share. I am here to learn from people like Rick who have forgotten more than I have learned about insurance.

Seriously, nothing said in this thread offends me, and I hope my weak attempts at humor make you laugh.

 

[007]

Anyone we know?

Yeah, he has a new association for agents to INCREASE sales...

This program is amazing because it's a tried and true franchise to make your business EFFECTIVE...

You get all the advice from marketing strategies to on-going support to MAXIMIZE your potential....

• Detailed state-by-state information on carriers products and commissions

• Detailed marketing advice including many top scripts, lead sources and lead generation techniques
  

• A step-by-step "how to guide" on becoming an independent agent

• Access to top commissions for many of the major carriers. No "lock in" contracts
  

• Discounts from top vendors, marketing and lead companies

• On-going support independent agents need to maximize their sale potential including daily webinars
  

• We test market new lead and marketing sources to separate fact from fiction

• Community environment where independent agents can unite and trade information
  

 

[arnguy]

007, you have not told us who this guru is.

 

[padthaiforlunch]

Google search sez...

Health Insurance Agent Association - Membership

 

[somarco]

Pad -

Even though the link you provided is not valid (Health Insurance Agent Association) the "best health agent in the nation" is who I thought it was.

 

[Crabcake Johnny]

your assumption would be incorrect.