Part D Plan Marketing

[GreenSky]

For full disclosure, I am able to offer contracting for the plan I'm about to discuss. This might belong in offers but please indulge me.

I'm wondering if it's worth the time and trouble to pick just one plan and go with it. Like many of you, I've spend an hour or so every year going on medicare.gov to review the drug plans for my clients to be sure they have the absolutely best plan. Of course, the best plan for January may not be the best plan in July.

So, perhaps I can just find a good plan and run with it. The plan that worked for 2009 for many people (although not written through agents) was Silver Scripts. This is owned by CVS so presumably, the pharmacies would suggest it.

For 2010, there are only a couple of marketers that have this plan. I am fortunate to have hooked up with one and can offer contracts. But primarily I am a producer and more concerned with writing business than soliciting agents.

My hope is that by meeting the pharmacy manager at local CVS pharmacies and offer to help their clients enroll in this plan, I can generate not only some small commissions, but maybe be able to cross sell some med supps. I don't know how much effort a pharmacy really wants to make to fill out plan applications. Perhaps I can offer to help out so they can do what they do best - push drugs.

So, I'm looking for feedback on my idea . Also, if anyone wants to look into contracting my email is insure(at)greensky(dot)com.

For those who know me, I rarely discuss contracts I offer and hope you will not flame me too much for this post. (Except SAI, he'll be along shortly to add a one word post).

Rick

 

[Frank Stastny]

My only concern is one you already mentioned. "...Of course, the best plan for January may not be the best plan in July..."

I don't look upon Part D Plans as "one size fits all". I would still feel obligated to check all companies. Even though I did that, because of the way Part D plans are structured, I still would not be certain that the "best" today will remain so for the next 12 months.

There are too many variables that I have no control over. I'm not comfortable recommending and /or selling something that can change dramatically without any notice.

Even though I explain this in detail to a prospect, if it happens to them they won't be able to help themselves, they are still going to want to "kill the messenger".

Remember, "No good deed goes unpunished".

 

[Justin Bilyj]

Aren't there a bijillion PDP's out there?

 

[senior-advisor-indiana]

Spammer.....

 

[medicarebenefitsdirect]

I wrote SS last year as well. However, sometimes the total cost for the year with the clients current drugs might be 2000 for the year. With, say a BC/BS card, it might have been 1200 per year.
Therefore, I would say you can not offer just one card because the prices can vary so much. I do an analysis and show them how much money they can save. Once I have done that, they are usually ready to buy their med-supp from me. It does get old doing all the comparisons though!

 

[GreenSky]

I think I'm more interested in trying to get referrals from the pharmacists. By representing SS I might have a shot at this.

I did not realize they worked with independent agents last year.

But my real goal is not to make $20 for the PDP but to review their Med Supp. Bait and switch?

Just like representing AARP can give an agent credibility when speaking with seniors (although not likely the best pricing), having a referral from a pharamacist can do the same.

Rick

 

[bourbonlegend]

Too much work. Too much time spent away from your primary focus. Talk to small pharmacies and have them set your appointments for you. Trust me, they are motivated to use your services.

 

[G.Gordon]

This year we're going to contract with any/all PDP's that we can. Maybe 50% of the plans. That way maybe we'll be paid this year. Last year we suggested and assisted enrollment into many plans we didn't carry. It only pays us $25/plan, but could mean hundreds in savings for the client. We do what's in the best interest of the client... we'll get ours in the long run.

Frank,

I believe you're overly worried about losing face/reputation over a PDP assist/enrollment. I can't say 100% of the enrollments have gone well or have been problem free, but I can promise you out of hundreds I haven't lost one single client over this issue. Hell... the only way I lose a client is when they die.