Rising Costs of Med Supps for the Elderly

They CHOOSE to call them royalties.

They can call them pigs feet if they want, but if paid as a % of premium sold they are STILL commissions.

You don't think AARP can get by on $15 dues, do you?

They're $16. You're still on the old plan you bought 40 years ago.

Rick
 
They CHOOSE to call them royalties.

They can call them pigs feet if they want, but if paid as a % of premium sold they are STILL commissions.
I used to work for as a VP for a behavioral healthcare company that contracted with hospitals to provide specialty services to patients. Our marketing efforts filled empty hospital beds, so it was a win for us and them if we performed. The patients--or more often their insurance carriers--paid the hospital, and we billed the hospital for our services.

The attorneys who drafted the contracts were extremely careful to make sure that our fees were for a flat rate per month based on our costs plus a reasonable profit margin. We could adjust these periodically, usually annually, but anything that looked like we were getting paid per admission, or adjusted too frequently based on the hospital census we created, could be subject to legal trouble due to federal safe harbor laws. We made sure that there was never a way that these contracts could look like we were getting a commission or kickback from the hospital.
 
Getting screwed by insurance rates as one ages is not an issue in a few states such as CA, OR and MO. Birthday rule in the first two allow anyone with a current plan to move to another company and in the latter on the policy anniversary. Basically once you qualify for a supplement you "own" the ability to move to another carrier.

While I have no belief I'll win, I'm running for state senate in NV on one issue - getting the birthday rule for Medicare supplements adopted in this state, along with people who get MC from disability to buy a supplement.

Again, I have no belief I can win but perhaps I can start the ball rolling. The people who need the help the most are getting screwed by companies like MOO. It's very un-libertarian of me to want more government rules but I truly believe this to be an important issue.

Rick


Something you could do to help some seniors beyond the realm of just Nevada.
Form L564.

You could see if leaders in some of the national insurance organizations you are associated with would work with leaders in some of the national human resource manager organizations (such as SHRM) to get form L564 to be made part of the standard termination paperwork packages for large organizations terminating employees over age 65.

Needing, and not having, form L564 is a repeated issue which has popped up in forum threads.
 
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