Probably a Silly Med Supp Question, But...

[VaDwayne]

In the past month i have just opened my eye's to med supps as a possible great door opener product to get in and talk to senior clients regarding the rest of their financial picture. After doing some reading on the topic I think I am beginning to figure out what a med supp contract will cover:

• The clients $1100 deductable for medicare
• In the case of "major medical expense" it seems like a senior has total possible exposure of around 5-7k of expenses from what medicare wouldn't cover

Please correct me if I'm missing something on the above. If I'm not missing something then it seems almost silly for a senior with any money at all saved up to not just self insure the above risk. Again, i am probably misinterpreting something here, I often do.

Thanks in advance

Not even close, but if you would like, p.m. me with your email and I will send you a summary of benefits and other literature for you to study. All carriers plans( the various plans they sell) cover the exact some thing, so if you learn one, you've learned them all.

 

[moonlightandmargaritas]

Not even close, but if you would like, p.m. me with your email and I will send you a summary of benefits and other literature for you to study.

Why bother? Go to www.medicare.gov.

 

[Chazm]

If so....they have also seen the Easter Bunny.

Had a client over $500,000 so.....
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I may not be reading your post correctly but you mention Plan F and then point out that there is a "coverage gap" on the 20% of Part B charges. Am I reading that wrong?

There is no "coverage gap" with a Plan F. Everything, doctor and hospital, that is an approved charge is covered 100% by Plan F. There is no "coverage gap" or any "out of pocket" exposure with a Plan F.

In fact, all Med Supps cover the 20% of Part B charges. Plan N is the only Plan where there is a copay associated with Part B charges.

Yeah, sorry. First I was going to say what the F plan would cover and then I guess in the middle of typing I changed over to what medicare doesn't cover.

 

[Frank Stastny]

Had a client over $500,000 so.....
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Yeah, sorry. First I was going to say what the F plan would cover and then I guess in the middle of typing I changed over to what medicare doesn't cover.

I kind of figured that is what happened.

I have had clients have a kidney replaced and other clients have a lung replaced and Part B covered all their expenses.

I know you knew what you were trying to say, it just didn't come out that way. If I had a dollar for every time I have done that I wouldn't need to be selling insurance.

 

[moonlightandmargaritas]

I have had clients have a kidney replaced and other clients have a lung replaced and Part B covered all their expenses.

Correct me if I'm wrong, but wouldn't the lion's share of these be Part "A" hospital stuff?

 

[Frank Stastny]

Correct me if I'm wrong, but wouldn't the lion's share of these be Part "A" hospital stuff?

Yes it is but the guys with the knife are still pretty proud of what they do.

 

[VaDwayne]

Correct me if I'm wrong, but wouldn't the lion's share of these be Part "A" hospital stuff?

Docters gosta git there mula. U sur is smart. U sed too curect u if u is wrong, wel, U IS Wrong!!

 

[Guest]

You should really consider contracting with AARP. They have extensive training that I had to go through to get my contracts, it explains everything in great detail. For me, it was a pain in the neck because I've been selling long enough to know everything they trained on. However, if I was just getting in the business they would have been an excellent tool to learn the ins and outs.

It is all online. You should really look into that. Some of the best training on what supps cover, don't cover, and the advantages of having them. They also go over the details of what each supp plans cover.