Reason for enrolling client in MedSupp before IEP

[SRee973]

You can enroll a client in a MedSupp prior to their IEP. Some carriers allow you to do it even 6 months prior.

Aside from locking in the client early, what's the reason to do this?

I'm assuming the rate locks-in at the moment of enrollment.

But isn't there a chance a different MedSupp might have a lower price during the IEP?

Wouldn't it be more logical to wait until the clients IEP to see what MedSupp has the lowest price?

Just looking for the reasoning here aside from the agent locking in a client early.

What's in it for the client to enroll in a MedSupp early?

 

[Chazm]

Nope. No reason not to if allowed. New lower rate? Cool, sign them up with that one.

The risk of not signing them up early? You make $0 by not selling them

 

[sshafran]

You can enroll a client in a MedSupp prior to their IEP. Some carriers allow you to do it even 6 months prior.

Aside from locking in the client early, what's the reason to do this?

I'm assuming the rate locks-in at the moment of enrollment.

But isn't there a chance a different MedSupp might have a lower price during the IEP?

Wouldn't it be more logical to wait until the clients IEP to see what MedSupp has the lowest price?

Just looking for the reasoning here aside from the agent locking in a client early.

What's in it for the client to enroll in a MedSupp early?

It benefits both parties:

• They can "put it behind them" and move on.
• You lock it down.

Some carriers base inital rate on issue date (MoO), others base initial rate based on effective date (Aetna / UHC).

So, no, you can't always "lock in today's savings" although I've heard that pitch so many times.

Also, with CSG - you can plug in future dates and (often) see fairly accurate future rates along with get an idea of coming rate changes.

In short, no reason to wait to see if a new company will come on the block saving Mrs. Jones 1 dollar and 26 cents. Just write the app today... plus, cheapest doesnt really matter that much if you are close to the lower end of the rates.

 

[somarco]

I take the app when they are ready. Never force the issue. Allow them to move at their own pace.

Some agents can't or won't to do it that way.

Just saying what works for me.

People hate to be sold but love to buy.

 

[vic120]

Hey is there a way to still do this now that app needs the new medicare number, This is the issue I have had

I had to let 5 already go this year because they have not received the new medicare number yet, I did get one back she got her number 30 days before T65 the other 4 are still several months away from getting the medicare card

 

[SRee973]

Hey is there a way to still do this now that app needs the new medicare number, This is the issue I have had

I had to let 5 already go this year because they have not received the new medicare number yet, I did get one back she got her number 30 days before T65 the other 4 are still several months away from getting the medicare card

This is the other issue I forgot to mention in my post.

From the posts that I've read, you leave the Medicare number blank since the client doesn't have it yet (several months out from their IEP).

You're saying carriers now require the Medicare number?

So wouldn't that make enrolling someone in a MedSupp before their IEP not possible?

Hope someone who's recently enrolled a client in a MedSupp before their IEP can respond.

 

[goillini52]

This is the other issue I forgot to mention in my post.

From the posts that I've read, you leave the Medicare number blank since the client doesn't have it yet (several months out from their IEP).

You're saying carriers now require the Medicare number?

So wouldn't that make enrolling someone in a MedSupp before their IEP not possible?

Hope someone who's recently enrolled a client in a MedSupp before their IEP can respond.

Just leave it blank. When you try to go to the next page, a box comes up and asks if you have that info. Click no and proceed. The company will send the policyholder a form to get their Medicare #.

This works on the Aetna e-apps. You can try it in the sandbox.

 

[vic120]

Just leave it blank. When you try to go to the next page, a box comes up and asks if you have that info. Click no and proceed. The company will send the policyholder a form to get their Medicare #.

This works on the Aetna e-apps. You can try it in the sandbox.

Interesting will have to play around with that and other eapps as well

 

[goillini52]

Interesting will have to play around with that and other eapps as well

I don't know if it'll work with other companies but it will for Aetna, Accendo, Capitol Life and Union Security.

 

[vic120]

I don't know if it'll work with other companies but it will for Aetna, Accendo, Capitol Life and Union Security.

A couple were referrals from Ny and wanted to do Empire (anthem) BC I wonder if it would work, I'll have to look at app, The other thing I would worry about is submitting then finding out issue a couple of weeks later but live and learn if it works can use it over and over again