Plan N Co-payment

[bourbonlegend]

D plans just don't make sense in my market.

I'm going to see a 66 yr old famale and 68 yr old male in an hour (married).

Combined premiums - D= 195.53, G= 196.54, F=221.73, N= 176.01.

You can see that the D plan makes absolutey no sense to these people.

I don't know about your clients but mine DON'T want ANY deductibles. They see the market volatility and don't trust the part B deductible to stay relatively low and neither do I. Historical research aside, the market is completely different than it was 5-10 yrs ago.

 

[VaDwayne]

$250 difference in premium per year between F and N. I don't know if I would recommend a client to go from F to N because after the $155 part b Deductible your savings is only $95 a couple of Dr visits (and what senior doesn't go a couple times a year) and the savings are spent...and health goes downhill they may be stuck on N and spending way more than the savings.

I agree,I have many customers with UCT who got hit with their big price increase, and I am switching most to M.O.O. I have not had one of these people willing to switch to plan N, from F, because the convenience is worth the few extra dollars they'll spend. The Plan N is about $20 less than F in VA., for a 65 yr. old male. Not worth the hassle, even though I present both, everyone takes F. In my opinion, it is the right way to go.

Also for the $20 extra dollars, the beneficiary doesn't have to be worried about being stuck in the plan N if they become uninsurable, with 3 or more co-pays a month, because of the illness, or whatever. With MOO offering plan N as GI, there will be big increase on the way too. Not right away, but it will come.

PEACE OF MIND IS WORTH SOMETHING!!!! It's not just a dollar and cents thing.

I am basing this on VIRGINA clients only.

 

[crons79]

Originally Posted by G.Gordon

Plan B Deductible:​

$155 for 2010​

$135 for 2009 and 2008​

$124for 2007​

$118 I think... if I remember correctly.​

$111...​

The Part D/G client is not taking on any more risk than the Plan F client in reguards to the Part B deductible going up. This is because in the future when the Part B deductible goes up the F Plan client gets a premium increase too because the insurance company now has to pay for that extra liabilty (cost). ​

So, the D/G client's Part B deductible went up, so what? The Plan F client's premium went up and probably by more to cover the cost.​

 

[bourbonlegend]

With the exception of ACI, which is hardly competitive here anyway, all of my carriers go up at a set rate across the board (all plans). I've heard that argument for selling D or G over F but I don't put a lot of stock into it.

 

[Frank Stastny]

With the exception of ACI, which is hardly competitive here anyway, all of my carriers go up at a set rate across the board (all plans). I've heard that argument for selling D or G over F but I don't put a lot of stock into it.

The premiums go up every year because most companies are Attained Age in SC. They will automatically go up each year because the person gets older each year.

Issue Age increases do not happen automatically simply because the person has a birthday.

However, it is very seldom a "set rate" because in addition to figuring in their age the company also takes into consideration the increased deductibles in Medicare.

I essence they may be getting "two rate increases" in the amount the policy is going up. One for getting older and the second because of changes in Medicare.

That still doesn't mean that every Plan is going to or has to receive the same percent of increase. In other words, you cannot look at the rate sheet and tell them with any degree of accuracy what their premium is going to be three years from now.

 

[bourbonlegend]

The premiums go up every year because most companies are Attained Age in SC. They will automatically go up each year because the person gets older each year.

Issue Age increases do not happen automatically simply because the person has a birthday.

However, it is very seldom a "set rate" because in addition to figuring in their age the company also takes into consideration the increased deductibles in Medicare.

I essence they may be getting "two rate increases" in the amount the policy is going up. One for getting older and the second because of changes in Medicare.

That still doesn't mean that every Plan is going to or has to receive the same percent of increase. In other words, you cannot look at the rate sheet and tell them with any degree of accuracy what their premium is going to be three years from now.

With an "F" plan I CAN say with 100% accuracy- "you will never have to worry about how high they raise the part b deductible because your plan covers it." Just takes one more variable out of the equation.

 

[somarco]

Reminds of the "great taste - less filling" commercials from a few years back.

 

[Frank Stastny]

[/i]

With an "F" plan I CAN say with 100% accuracy- "you will never have to worry about how high they raise the part b deductible because your plan covers it." Just takes one more variable out of the equation.

Yes you can but I'm not sure what that has to do with your previous statement about premium increases. Do you really think that because Plan F pays the Part B Deductible that the premium isn't going to reflect increases in the Part B Deductible?

Plan F is "easier to sell" but that doesn't mean that it is the best investment of your prospect's premium dollar. Agents who sell Plan F have made me successful.

I should be on here encouraging every agent to sell Plan F, especially in Missouri.

 

[DS4]

"I can sell you the best Medicare supplement for coverage, the least expensive Medicare supplement, and, the best value Medicare supplement for your money". "Take your pick".
I should also note, I have NEVER, and I repeat, NEVER, lost one of my Plan F clients to another agent selling Plan D. I have though, lost Plan F clients to other agents selling Plan F.

 

[Frank Stastny]

"I can sell you the best Medicare supplement for coverage, the least expensive Medicare supplement, and, the best value Medicare supplement for your money". "Take your pick".
I should also note, I have NEVER, and I repeat, NEVER, lost one of my Plan F clients to another agent selling Plan D. I have though, lost Plan F clients to other agents selling Plan F.

An agent's experience with that is going to vary from state to state.

In Missouri I have seen Plan F be $600 per year more than a Plan D. I venture to say if California had that much discrepancy in the annual premium you would probably look more favorably at Plan D.

In states where the price difference is only a matter of a few dollars then yes, Plan F is the more logical Plan to recommend and sell.